Centamin PLC (LSE: CEY, TSX: CEE) announced the issuance of 20,334,280 new ordinary shares as part of its Share Incentive Plan, following its recommended acquisition by AngloGold Ashanti. This issuance is contingent upon court approval of the scheme of arrangement under Article 125 of the Jersey Companies Law. The new shares will rank equally with existing ordinary shares.
The company has submitted an application to the Financial Conduct Authority (FCA) and the London Stock Exchange (LSE) for the listing of these new shares. Trading is anticipated to commence at 8:00 am GMT on 20 November 2024. Upon admission to trading, Centamin's total issued share capital will reach 1,181,416,975 ordinary shares, each carrying a single voting right. This increase in share capital follows the shareholder-approved incentive plan, designed to reward participants upon successful completion of the AngloGold Ashanti acquisition. The trustee of the Centamin Share Incentive Plan will allocate the vested awards in accordance with the plan's terms, once court sanction is received.
This share issuance is directly linked to the acquisition by AngloGold Ashanti, a significant event marking strategic consolidation within the mining sector. The company's adherence to its pre-approved incentive plan demonstrates a commitment to structured compensation strategies. However, the issuance of such a substantial number of new shares could potentially lead to dilution of existing shareholdersâ value, a factor investors should consider.
The details of the Centamin Share Incentive Plan are outlined in the company's 2023 Annual Report and Accounts, accessible on their website: www.centamin.com. This announcement constitutes regulated information.
Further information regarding this announcement can be obtained from Centamin PLC's website (www.centamin.com) or by contacting the company directly. The Legal Entity Identifier (LEI) for Centamin PLC is 213800PDI9G7OUKLPV84, and its company number is 109180.
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