TORONTO,
Jan. 10, 2013 /CNW/ - The Board of
Directors of Patagonia Gold Plc (TSX: PAT, AIM: PGD) today
announced approval to grant options over 14,500,000 ordinary shares
of one pence each ("Options") to
certain Directors under the Company's share option arrangements, as
follows:
| Name |
Existing options |
New Issue |
Total options
over ordinary
shares |
| Carlos Miguens |
10,500,000 |
9,000,000 |
19,500,000 |
| William Humphries |
10,500,000 |
3,000,000 |
13,500,000 |
| Sir John Craven |
2,000,000 |
1,500,000 |
3,500,000 |
| Gonzalo Tanoira |
4,000,000 |
1,000,000 |
5,000,000 |
The Options are exercisable (in whole or in
part) at any time up to the tenth anniversary of the date of grant
and are exercisable at a price of 22.75
pence per ordinary share. The grant of the Options was
recommended by the Company's Remuneration Committee at a meeting
held on October 18, 2012.
However they were unable to be granted until the Company's share
authorities were renewed at the general meeting of the Company held
on January 8, 2012. Vesting of the
Options is subject to performance criteria linked to the
achievement of certain operational targets by the Company.
About Patagonia Gold
Patagonia Gold Plc is an advanced mining exploration company that
seeks to grow shareholder value through the acquisition,
exploration and development of gold and silver projects in the
southern Patagonia region of Argentina. The Company is primarily focused on
the development of three projects: the flagship Cap-Oeste project,
the nearby COSE project and the Lomada heap leach project, which is
expected to begin generating free cash flow by 2013. Patagonia
Gold, indirectly through its subsidiaries or under option
agreements, has mineral rights to over 220 properties in several
provinces of Argentina and
Chile, and is one of the largest
landholders in the province of Santa
Cruz.
Patagonia Gold is listed on the Toronto Stock
Exchange (TSX) under the symbol PAT and has been listed on the AIM
market of the London Stock Exchange under the symbol PGD since
2003.
www.patagoniagold.com
SOURCE Patagonia Gold plc