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Issue of Securities to Directors and Long Term Incentive Awards

St Helier, January 14, 2019:  Caledonia Mining Corporation Plc (the “Company” or “Caledonia” - https://www.commodity-tv.net/c/search_adv/?v=298787) announces that following the maturing of long term incentive plan awards on January 11, 2019 (i) a total of 93,664 securities in the Company have been issued to Caledonia’s Chief Executive Officer and Chief Financial Officer and (ii) the Company has made new long term incentive plan awards to members of its senior management team.  

The securities have been issued in the form of depositary interests representing shares in the Company.  The number of securities issued and the resulting interests of the recipients in the share capital of the Company are set out below:

Name

Position

Number of depositary interests issued

Resulting interest in share capital of the Company (number and percentage)

Steve Curtis

Director and Chief Executive Officer

67,082

161,382 (1.5%)

Mark Learmonth

Director and Chief Financial Officer

26,582

96,688 (0.9%)

Application has been made by Caledonia for the admission of the depositary interests to trading on AIM and it is anticipated that trading in such securities will commence on January 16, 2019. 
Following issue of the shares underlying the depositary interests, the Company has a total number of shares in issue of 10,696,817 common shares of no par value each.  Caledonia has no shares in treasury; therefore, this figure may be used by holders of securities in the Company as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company.
Further details of the transactions are set out in the notifications below. 
Caledonia also announces that the Compensation Committee of the board of directors has made new long term incentive plan awards under the Company’s 2015 Omnibus Equity Incentive Compensation Plan (the “Plan”) to the following members of its senior management:


Name

Position

Grant values

Steve Curtis

Director and Chief Executive Officer

USD270,000

Dana Roets

Chief Operating Officer

USD170,000

Caxton Mangezi

General Manager, Blanket Mine

USD143,401

The awards are in the form of Performance Units (“PSUs”) as defined in the Plan and constitute the combined “Tranche 4 PSUs” and “Tranche 5 PSUs” as set out in the announcement of the Company made on January 12, 2016, as increased commensurate with increases in recipients’ salaries since 2016.  The vesting date for the PSUs shall be the third anniversary of the date of the award, being January 11, 2022.
The number of PSUs awarded is equal to the monetary value of the award divided by the “Fair Market Value” (as defined in the Plan) of the Company’s shares, being the greater of (i) the closing price of Caledonia’s shares on the Toronto Stock Exchange on the trading day preceding the date of the award or (ii) the volume-weighted average closing price of Caledonia’s shares on the Toronto Stock Exchange for the five days preceding the date of the award, converted to the USD equivalent based on the CAD/USD exchange rate for the 3 months immediately preceding the valuation date, i.e. approximately USD 6.09.        
The final number of PSUs which vest on maturity of the awards will be adjusted to reflect the actual performance of the Company in terms of targeted gold production. If actual performance is less than 70% of target, no PSUs will vest; if actual performance is greater than 70% of target, the number of vesting PSUs will be adjusted pro rata on a linear basis, subject to a maximum of 200% of the initial target PSUs. Each PSU entitles the participant to receive the cash equivalent of the Fair Market Value of one Caledonia common share on the maturity of the award or alternatively to elect to receive some or all of the PSUs in the form of securities in the Company.
For further information please contact:

Caledonia Mining Corporation Plc
Mark Learmonth
Maurice Mason

 

Tel: +44 1534 679 802
Tel: +44 759 078 1139

WH Ireland
Adrian Hadden/Jessica Cave/James Sinclair-Ford

 

Tel: +44 20 7220 1751

Blytheweigh
Tim Blythe/Camilla Horsfall/Megan Ray  

Swiss Resource Capital AG
Jochen Staiger

 

Tel: +44 207 138 3204

www.resource-capital.ch
info@resource-capital.ch

Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY            PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED           WITH THEM

1

Details of the person discharging managerial            responsibilities/person closely associated

a)

Name

Steve Curtis

 

2

Reason for the notification     

a)

Position/status

Director and Chief Executive Officer

 

b)

Initial notification/ Amendment

Initial notification

 

3

Details of the issuer, emission allowance market participant,           auction            platform, auctioneer or auction  monitor

a)

Name

Caledonia Mining Corporation Plc

 

b)

LEI

21380093ZBI4BFM75Y51

 

4

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

Depositary interests representing common shares of no par value

JE00BF0XVB15

 

b)

Nature of the transaction

Issue of securities

 

c)

Price(s) and volume(s)

 

 

Price(s)           

Volume(s)

CAD8.0742

67,082

 

 

d)

Aggregated information

- Aggregated volume    

- Price

 

67,082

CAD8.0742

 

e)

Date of the transaction

11 January 2019

 

f)

Place of the transaction

AIM of the London Stock Exchange plc

 

 

 

 

NOTIFICATION             AND PUBLIC DISCLOSURE OF TRANSACTIONS BY            PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED           WITH THEM

1

Details of the person discharging managerial            responsibilities/person closely associated

a)

Name

Mark Learmonth

 

2

Reason for the notification     

a)

Position/status

Director and Chief Financial Officer

 

b)

Initial notification/ Amendment

Initial notification

 

3

Details of the issuer, emission allowance market participant,           auction            platform, auctioneer or auction  monitor

a)

Name

Caledonia Mining Corporation Plc

 

b)

LEI

21380093ZBI4BFM75Y51

 

4

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

Depositary interests representing common shares of no par value

JE00BF0XVB15

 

b)

Nature of the transaction

Issue of securities

 

c)

Price(s) and volume(s)

 

 

Price(s)           

Volume(s)

CAD8.0742

26,582

 

 

d)

Aggregated information

- Aggregated volume    

- Price

 

26,582

CAD8.0742

 

e)

Date of the transaction

11 January 2019

 

f)

Place of the transaction

AIM of the London Stock Exchange plc

 

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PDAC 2019

Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at info@resource-capital.ch. We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

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