Latest news with #LongTermIncentivePlan
Hamilton Spectator
3 days ago
- Business
- Hamilton Spectator
Celestica Announces Election of Directors and Approval of Equity Plan and Advanced Notice By-Law
TORONTO, June 17, 2025 (GLOBE NEWSWIRE) — Celestica Inc. (NYSE, TSX: CLS), a leader in design, manufacturing and supply chain solutions for the world's most innovative companies, today announced, in accordance with the requirements of the Toronto Stock Exchange, that the nominees listed in its management information circular were elected as directors of the company at its Annual and Special Meeting of Shareholders held earlier today. On a vote by ballot, each of the following eight nominees proposed by management was elected as a director of Celestica: Celestica also announced that the resolution approving the 2025 Long Term Incentive Plan and the resolution approving the adoption of By-Law 2 (Advance Notice) were approved at the Annual and Special Meeting of Shareholders. About Celestica Celestica enables the world's best brands. Through our recognized customer-centric approach, we partner with leading companies in Aerospace and Defense, Communications, Enterprise, HealthTech, Industrial, and Capital Equipment to deliver solutions for their most complex challenges. As a leader in design, manufacturing, hardware platform and supply chain solutions, Celestica brings global expertise and insight at every stage of product development - from the drawing board to full-scale production and after-market services. With talented teams across North America, Europe and Asia, we imagine, develop and deliver a better future with our customers. For more information on Celestica, visit . Our securities filings can be accessed at and .
Yahoo
13-06-2025
- Business
- Yahoo
Himax Technologies, Inc. to Hold Annual General Meeting on August 13, 2025
TAINAN, Taiwan, June 13, 2025 (GLOBE NEWSWIRE) -- Himax Technologies, Inc. (Nasdaq: HIMX) ('Himax' or 'Company'), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today announced that the Company will hold its Annual General Meeting ('AGM') in Taiwan on August 13, 2025. Details of the Annual General Meeting are below: TIME and DATE: TAIWAN 9:30 a.m., August 13, 2025 LOCATION: HIMAX FAB 2 - TAINAN CITY, TAIWAN Shareholders will vote to adopt the Company's 2024 Audited Accounts and Financial Reports, re-elect Mr. Yan-Kuin Su as an Independent Director of the Company, amend and restate the Company's Amended and Restated 2011 Long-Term Incentive Plan by the Amendment(s) extending its duration for additional five years to September 6, 2030, and transact any other business brought before the 2025 AGM. Copies of the Company's Proxy Statement and 2011 Long-Term Incentive Plan Amended and Restated as of August 31st, 2016, 2nd Amended and Restated as of August 28th, 2019, 3rd Amended and Restated as of August 16th, 2022, and 4th Amended and Restated as of August 13rd, 2025 have been filed with the SEC. Additionally, a copy of Himax Technologies 2024 Annual Report has been posted on the Himax website for download. The Annual Report can be accessed at the following link: For additional information and travel arrangements, please contact Company or investor relations representatives listed below. Company Contact: In the U.S.: Karen Tiao, Head of IR/PR Mark Schwalenberg, Director Tel: +886-2-2370-3999 Tel: +1-312-261-6430 Email: hx_ir@ Email: About Himax Technologies, Inc. Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company's display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company's industry-leading WiseEye™ Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,603 patents granted and 389 patents pending approval worldwide as of March 31, 2025. Forward Looking Statements Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company's business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company's SEC filings, including those risks identified in the section entitled "Risk Factors" in its Form 20-F for the year ended December 31, 2024 filed with the SEC, as may be amended. Company Contacts: Karen Tiao, Head of IR/PRHimax Technologies, +886-2-2370-3999Fax: +886-2-2314-0877Email: hx_ir@ Mark Schwalenberg, DirectorInvestor Relations - US RepresentativeMZ North AmericaTel: +1-312-261-6430Email: HIMX@ nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
The Herald Scotland
13-06-2025
- Business
- The Herald Scotland
Scottish Water: Swinney signed off on £3m of 'fat cat' bonuses
The Herald has seen confirmation that from 2010 to 2021, John Swinney was responsible for approving the payouts to Scottish Water described as "incentive plans" when he was finance secretary. He had during that time been critical of bonus payments when paid by councils, universities and other public bodies. The bonuses and benefits bill at Scottish Water amounted to £2.8m in the final eight years of his role. The three key directors including then chief Douglas Millican received benefits and bonuses worth £628,000 in 2021/22 alone and it included £395,000 from a Long Term Incentive Plan (LTIP) covering a period from 2015 to 2021. Present and past chief executive of Scottish Water - Douglas Millican and Alex Plant (Image: Newsquest) The biggest payout came in 2015/16 when the then four-man board received a total of £669,000 - including a further LTIP bonus. State-owned Scottish Water has been included amongst the list of bodies, including Scottish Government's core directorates, its associated departments, agencies and corporations that the Scottish Government's public sector pay policy applies to. Other state-owned firms such as Ferguson Marine are not included. The public sector pay policy says that the suspension of bonuses allows public bodies to maximise their resources to "address fair pay issues and pay awards". The Scottish Government insists it is exempt. It comes as water bills in Scotland increased by almost 10% in April while Scottish Water is in the midst of a bitter pay dispute with staff. The long-standing policy says that the suspension applies to all non-consolidated performance payments. It was Mr Swinney himself that said that bonuses would be suspended back in 2010 while saying that public sector salaries would be frozen. And in 2015, he hit out at bonus payments totalling almost £7m paid by councils, universities and other public bodies in 2013/14. He had said it would be a "good idea" if these organisations followed the Scottish Government's example and ended the practice of awarding bonuses at a time of continued pressure on the public purse. He said at the time: "One of the tough decisions I took was to restrict public sector pay policy to enable us to maintain employment levels in the public sector. "It meant also that bonuses had to come to an end and that was the right decision to protect public services and the public finances." Read more by Martin Williams: But in the wake of The Herald's revelations about the extent of the latest bonuses at Scottish Water, Mr Swinney defended the awards. He states in March in a response to questions in Parliament: "When it comes to the recruitment of leadership for Scottish Water, we are invariably in competition with other water companies around the United Kingdom. "In that competition, the element of bonuses is part of the fabric of the financial settlements that are available to attract employees. Comparatively, bonus payments for the leadership of Scottish Water are much lower than those in other parts of the United Kingdom and the performance of Scottish Water is much higher than that of companies in other parts of the United Kingdom. "I acknowledge that those are difficult comparisons to make, but they are part of the judgments that the Government has to arrive at on how we attract the leadership to safeguard the important asset that is Scottish Water." Former Scottish Labour leader and current convener of the parliamentary public audit committee Richard Leonard said the bonuses should not exist and that they should go into a pay pot for the benefit of everyone. Richard Leonard (Image: Scottish Parliament TV) He said of Mr Swinney's involvement: 'This is a failure of political leadership. 'John Swinney personally sanctioned and signed off bonuses and benefits for Scottish Water bosses for more than a decade, so we perhaps should not be surprised to see him defending them now. "He is now choosing to use his office as First Minister to stand up for Scottish Water executive excesses rather than backing Scottish Water workers. He is on the wrong side of the argument." In 2022/23 three key executives of Scottish Water, Douglas Millican, Peter Farrer and Alan Scott, between them pulled in £242,000 in performance bonuses and benefits which include car allowances and inclusion on a life assurance scheme on top of six-figure salaries. But since the installation of chief executive Alex Plant in place of Douglas Millican in 2023 the executive bonuses have risen to £329,000 in 2023/24. Mr Plant in the first ten months in post as chief executive received bonuses and benefits amounting to £170,000 on top of a £246,000 basic salary, taking his remuneration package including pension to £483,000. Those benefits included a one-off £73,000 payment made to Mr Plant - who had previously been director of strategy and regulation at Anglian Water - to relocate to Scotland. That included £13,000 in relocation assistance, an accommodation allowance of £29,000 and a contribution of £42,000 towards Land and Building Transaction Tax (LBTT) associated with the purchase of a new permanent home. Scottish Water has defended the salary packages saying that they maintain and operate a "simple remuneration structure" with a pay policy that aims are to "attract, develop, motivate and retain highly talented people at all levels of the organisation" and to "incentivise and reward good individual and corporate performance as well as out-performance". But GMB Scotland has been fiercely critical of 'fat cat' bonuses as it is one of the unions in dispute with the utility over a 7% pay rise over two years which they say falls short of what other public sector workers in Scotland have received. Claire Greer, GMB Scotland organiser in Scottish Water, said: 'The First Minister's defence of indefensible bonuses to Scottish Water executives while workers are having to fight and scratch for a fair rise is disappointing and frustrating but sadly not surprising. Claire Greer (Image: GMB) "The same leadership team being heaped with financial rewards has led the company into a long-running industrial dispute after entirely failing to engage with the workforce in a constructive, clear and fair way. 'If John Swinney really believes that failure, that dereliction of duty at a publicly-owned company, merits such exorbitant bonuses he is living in a very different world to its workers. "If these bonuses are really in line with the Scottish Government's public pay policy then it is not a policy at all but window dressing that is unfit for purpose and needs overhauled.' Scottish Water, which serves more than 2.6m households, operates under an annual borrowing limit set by the Scottish Government. The annual borrowing limit controls the amount by which Scottish Water can increase externally sourced finance. Net new borrowing by Scottish Water from the Scottish Government was planned to be to the tune of £170m in 2024/25 to carry out its activities. As at March 31, 2024, government loans to Scottish Water totalled £4.7 billion. Scottish Water declined to comment. A Scottish Government spokesman said: "Scottish Water has a longstanding exemption on this point of Public Sector Pay Policy in recognition of its operating model and the need to retain staff in competition with the private sector. "The framework for bonus payments has to be approved by Scottish Ministers who have reviewed this ahead of each regulatory period since 2007-2011. The current framework was approved in advance of the 2021-27 regulatory period.'
Yahoo
06-06-2025
- Business
- Yahoo
Vesting and settlement of 2022 Conditional Share Awards and Notification of transactions by persons discharging managerial responsibilities
Vesting and settlement of 2022 Conditional Share Awards and Notification of transactions by persons discharging managerial responsibilities Serabi announces that on 5 June 2025 the Board of Directors approved the vesting of Conditional Share Awards that had been granted for the 2022 calendar year pursuant to the Company's Long Term Incentive Plan ('LTIP'). In aggregate a total of 482,528 new ordinary shares ('the 2022 Awards') were calculated as being due to vest to participants under the LTIP. The Board has assessed the level of performance compared with the targets for Total Shareholder Return, Return on Capital Employed and Return of Sales over the requisite three-year period. The terms of the Serabi 2020 Restricted Share Plan (the '2020 Plan') under which the 2022 Awards were granted, require that awards are subject to a three-year performance period during which time certain performance criteria stipulated by the Board must be attained. In respect of the vesting of the 2022 Awards these were initially granted in respect of the calendar year 2022 and for which the measurement period was the 3 calendar years of 2022, 2023 and 2024 The performance criteria and minimum thresholds that were required to be achieved over the entirety of the three-year period were as follows: 40% of the award is subject to Total Shareholder Return, (where there will be 0% vesting if Serabi TSR is in line with the BMO junior gold index increasing in a linear manner up to 100% vesting under this KPI if Serabi hits 1.2x the index over same period.) 30% of the award is subject to Return on Capital Employed (where ROCE premium over Weighted Average Cost of Capital ('WACC') must be in excess of 1.05 times. If this hurdle is met vesting will occur in a linear manner such that 100% vesting of this portion is achieved at 1.2x WACC), and 30% of the award is subject to Return on Sales (where ROS must exceed average annual budget by 10 per cent or more). The Board has, in light of the strong cash position of the Group and its desire to minimise the issuance of new ordinary shares, elected, in accordance with the rules of the 2020 Plan, to settle by way of a cash payment the value of the 2022 Awards that are due. The cash settlement has been determined by reference to the 20 Day VWAP price of the Ordinary Shares of the Company as at 5 June 2025 of £1.52, the date immediately prior to this announcement. In aggregate, 224,576 and 69,050 Conditional Share Awards which were otherwise due to vest to each of Mr Hodgson and Mr Howlin respectively will therefore be settled by a cash payment of £341,356 and £104,956 respectively from which the Company will make deduction of applicable taxes. The Board prioritises aligning the directors' and shareholders' interests and demonstrating their commitment to the business and Mike Hodgson has informed the Board that he has purchased 45,000 shares on 5 June 2026 through a market purchase at a price of £1.69. Mr Hodgson now beneficially holds 135,066 Ordinary Shares in the Company representing 0.18% of the issued shares in the Company. This announcement is made in accordance with the requirements of the UK Market Abuse Regulation. The notification of dealing forms can be found below. 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Michael Hodgson2 Reason for the notification a) Position/status PDMR - Chief Executive Officerb) Initial notification /Amendment Initial Notification3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Serabi Gold plcb) LEI 213800LTYC1HF9RTUE374 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted a) Description of the financial instrument, type of instrument Identification code Ordinary shares of one penny each GB00BG5NDX91b) Nature of the transaction Purchase of sharesc) Price(s) and volume(s) Price(s) Volume(s) 169.17 pence 45,000 d) Aggregated information - Aggregated volume - Price N/a single transaction e) Date of the transaction 5 June 2025f) Place of the transaction London Stock Exchange About Serabi Gold plcSerabi Gold plc is a gold exploration, development and production company focused on the prolific Tapajós region in Para State, northern Brazil. The Company has consistently produced 30,000 to 40,000 ounces per year with the Palito Complex and is planning to double production in the coming years with the construction of the Coringa Gold project. Serabi Gold plc recently made a copper-gold porphyry discovery on its extensive exploration licence. The Company is headquartered in the United Kingdom with a secondary office in Toronto, Ontario, Canada. The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. The person who arranged for the release of this announcement on behalf of the Company was Andrew Khov, Vice President, Investor Relations & Business Development. Enquiries SERABI GOLD plcMichael Hodgson t +44 (0)20 7246 6830Chief Executive m +44 (0)7799 473621 Andrew Khov m +1 647 885 4874VP Investor Relations & Business Development e contact@ BEAUMONT CORNISH LimitedNominated Adviser & Financial AdviserRoland Cornish / Michael Cornish t +44 (0)20 7628 3396 PEEL HUNT LLPJoint UK BrokerRoss Allister t +44 (0)20 7418 9000 TAMESIS PARTNERS LLPJoint UK BrokerCharlie Bendon/ Richard Greenfield t +44 (0)20 3882 2868 CAMARCOFinancial PR - EuropeGordon Poole / Emily Hall t +44 (0)20 3757 4980 HARBOR ACCESSFinancial PR – North AmericaJonathan Paterson t +1 475 477 9401 Copies of this announcement are available from the Company's website at Forward-looking statementsCertain statements in this announcement are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', 'should' ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements. Qualified Persons StatementThe scientific and technical information contained within this announcement has been reviewed and approved by Michael Hodgson, a Director of the Company. Mr Hodgson is an Economic Geologist by training with over 30 years' experience in the mining industry. He holds a BSc (Hons) Geology, University of London, a MSc Mining Geology, University of Leicester and is a Fellow of the Institute of Materials, Minerals and Mining and a Chartered Engineer of the Engineering Council of UK, recognizing him as both a Qualified Person for the purposes of Canadian National Instrument 43-101 and by the AIM Guidance Note on Mining and Oil & Gas Companies dated June 2009. NoticeBeaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it. Neither the Toronto Stock Exchange, nor any other securities regulatory authority, has approved or disapproved of the contents of this news release. Attachment Vesting of LTIPs (cash settlement) v Final
Yahoo
06-06-2025
- Business
- Yahoo
Vesting and settlement of 2022 Conditional Share Awards and Notification of transactions by persons discharging managerial responsibilities
Vesting and settlement of 2022 Conditional Share Awards and Notification of transactions by persons discharging managerial responsibilities Serabi announces that on 5 June 2025 the Board of Directors approved the vesting of Conditional Share Awards that had been granted for the 2022 calendar year pursuant to the Company's Long Term Incentive Plan ('LTIP'). In aggregate a total of 482,528 new ordinary shares ('the 2022 Awards') were calculated as being due to vest to participants under the LTIP. The Board has assessed the level of performance compared with the targets for Total Shareholder Return, Return on Capital Employed and Return of Sales over the requisite three-year period. The terms of the Serabi 2020 Restricted Share Plan (the '2020 Plan') under which the 2022 Awards were granted, require that awards are subject to a three-year performance period during which time certain performance criteria stipulated by the Board must be attained. In respect of the vesting of the 2022 Awards these were initially granted in respect of the calendar year 2022 and for which the measurement period was the 3 calendar years of 2022, 2023 and 2024 The performance criteria and minimum thresholds that were required to be achieved over the entirety of the three-year period were as follows: 40% of the award is subject to Total Shareholder Return, (where there will be 0% vesting if Serabi TSR is in line with the BMO junior gold index increasing in a linear manner up to 100% vesting under this KPI if Serabi hits 1.2x the index over same period.) 30% of the award is subject to Return on Capital Employed (where ROCE premium over Weighted Average Cost of Capital ('WACC') must be in excess of 1.05 times. If this hurdle is met vesting will occur in a linear manner such that 100% vesting of this portion is achieved at 1.2x WACC), and 30% of the award is subject to Return on Sales (where ROS must exceed average annual budget by 10 per cent or more). The Board has, in light of the strong cash position of the Group and its desire to minimise the issuance of new ordinary shares, elected, in accordance with the rules of the 2020 Plan, to settle by way of a cash payment the value of the 2022 Awards that are due. The cash settlement has been determined by reference to the 20 Day VWAP price of the Ordinary Shares of the Company as at 5 June 2025 of £1.52, the date immediately prior to this announcement. In aggregate, 224,576 and 69,050 Conditional Share Awards which were otherwise due to vest to each of Mr Hodgson and Mr Howlin respectively will therefore be settled by a cash payment of £341,356 and £104,956 respectively from which the Company will make deduction of applicable taxes. The Board prioritises aligning the directors' and shareholders' interests and demonstrating their commitment to the business and Mike Hodgson has informed the Board that he has purchased 45,000 shares on 5 June 2026 through a market purchase at a price of £1.69. Mr Hodgson now beneficially holds 135,066 Ordinary Shares in the Company representing 0.18% of the issued shares in the Company. This announcement is made in accordance with the requirements of the UK Market Abuse Regulation. The notification of dealing forms can be found below. 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Michael Hodgson2 Reason for the notification a) Position/status PDMR - Chief Executive Officerb) Initial notification /Amendment Initial Notification3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Serabi Gold plcb) LEI 213800LTYC1HF9RTUE374 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted a) Description of the financial instrument, type of instrument Identification code Ordinary shares of one penny each GB00BG5NDX91b) Nature of the transaction Purchase of sharesc) Price(s) and volume(s) Price(s) Volume(s) 169.17 pence 45,000 d) Aggregated information - Aggregated volume - Price N/a single transaction e) Date of the transaction 5 June 2025f) Place of the transaction London Stock Exchange About Serabi Gold plcSerabi Gold plc is a gold exploration, development and production company focused on the prolific Tapajós region in Para State, northern Brazil. The Company has consistently produced 30,000 to 40,000 ounces per year with the Palito Complex and is planning to double production in the coming years with the construction of the Coringa Gold project. Serabi Gold plc recently made a copper-gold porphyry discovery on its extensive exploration licence. The Company is headquartered in the United Kingdom with a secondary office in Toronto, Ontario, Canada. The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. The person who arranged for the release of this announcement on behalf of the Company was Andrew Khov, Vice President, Investor Relations & Business Development. Enquiries SERABI GOLD plcMichael Hodgson t +44 (0)20 7246 6830Chief Executive m +44 (0)7799 473621 Andrew Khov m +1 647 885 4874VP Investor Relations & Business Development e contact@ BEAUMONT CORNISH LimitedNominated Adviser & Financial AdviserRoland Cornish / Michael Cornish t +44 (0)20 7628 3396 PEEL HUNT LLPJoint UK BrokerRoss Allister t +44 (0)20 7418 9000 TAMESIS PARTNERS LLPJoint UK BrokerCharlie Bendon/ Richard Greenfield t +44 (0)20 3882 2868 CAMARCOFinancial PR - EuropeGordon Poole / Emily Hall t +44 (0)20 3757 4980 HARBOR ACCESSFinancial PR – North AmericaJonathan Paterson t +1 475 477 9401 Copies of this announcement are available from the Company's website at Forward-looking statementsCertain statements in this announcement are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', 'should' ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements. Qualified Persons StatementThe scientific and technical information contained within this announcement has been reviewed and approved by Michael Hodgson, a Director of the Company. Mr Hodgson is an Economic Geologist by training with over 30 years' experience in the mining industry. He holds a BSc (Hons) Geology, University of London, a MSc Mining Geology, University of Leicester and is a Fellow of the Institute of Materials, Minerals and Mining and a Chartered Engineer of the Engineering Council of UK, recognizing him as both a Qualified Person for the purposes of Canadian National Instrument 43-101 and by the AIM Guidance Note on Mining and Oil & Gas Companies dated June 2009. NoticeBeaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it. Neither the Toronto Stock Exchange, nor any other securities regulatory authority, has approved or disapproved of the contents of this news release. Attachment Vesting of LTIPs (cash settlement) v FinalError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
