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12.04.2007 Business & Finance

Anglogold Ashanti grants options to directors

By myjoyonline

Anglogold Ashanti Ltd. (AGA), the world's third largest gold producer, is granting options to its directors and company secretarial personnel as part of its share incentive scheme.

The company is granting a total of 19,879 shares in Bonus Share Incentive and 67,933 in Long-Term Plan Incentive, all at US$45.15 per share to four directors and two company secretarial personnel.

A Director, R.M. Godsell has been awarded 7,453 and 25,087 shares in bonus and long-term incentives respectively. Three others, R. Carvalho Silva, N.F. Nicolan and S. Vankatakrishnan have been awarded 3,618 and 12,188 each in bonus and long-term incentives.

Y.Z. Simeline, the Managing Secretary has been awarded 1,199 bonus shares and 4,873 long-term incentive shares, and L. Eatwell, Company Secretary has been awarded 373 bonus shares and 1,409 long-term incentive shares.

The transaction which took place in line with Johannesburg Stock Exchange Listing Requirements was announced on the Ghana Stock Exchange (GSE) last week.

AGA operates in 11 countries, and is listed on the London, New York and Australian Stock Exchanges aside the GSE and Johannesburg, where it is headquartered.

To qualify for the bonus share incentive, a participant should have served for thre13 years and be in the employ of the company on the vesting date, April 26, 2005, while more than three years service was necessary for the long-term incentive.

Any awards not exercised by January 12017 will lapse.
AGA has in issue 4,185,770 E ordinary shares, 278,236,153 ordinary shares at US$0.035 each, two million redeemable shares at US$O.07 each and 778,896 irredeemable shares.

AGA got listed on the GSE in April 2004 following the merger between Anglo Gold Ltd. of South Africa and Ashanti Goldfields Company of Ghana in the same year.

Credit: Business & Financial Times