https://www.miningweekly.com

Katoro issues shares to settle fees, creates option for management

8th February 2019

By: Nadine James

Features Deputy Editor

     

Font size: - +

Aim-listed Tanzania-focused gold exploration company Katoro Gold on Friday announced the issue of options to its board of directors and the company’s management, as well as the settlement of certain fees through the issue of new ordinary shares.

The board has resolved to issue 14.94-million new ordinary share options of 1p each to the board and management. The options constitute 10% of Katoro’s currently issued share capital and were issued at a price of 1.3p each – equal to the company's most recent fundraising price.

The options have an expiry date of the seventh anniversary of the date of grant, with 50% vesting on issue and the remaining 50% vesting in one year.

Katoro has also agreed to issue 556 077 new ordinary shares to its financial controller Pieter Krugel, in lieu of overtime for his ongoing services, at a price of 1.3p each.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION