TIDMIGD
RNS Number : 4691Q
IncaGold Plc
14 April 2009
IncaGold plc (the "Company")
Appointment of Director
On 3 November 2009, the Company announced that shareholders had approved
proposals to allow the Company to consider opportunities within cosmetic surgery
insurance.
The Board is pleased to announce that it has made application to the FSA to
become an authorised insurance broker and such application is progressing
satisfactorily. The Board is also pleased to announce the appointment of Michael
Evans to the Board with immediate effect.
Michael Evans has extensive experience in the insurance industry spanning over
35 years. He commenced his career with the United Friendly Assurance Society and
subsequently went on to establish, develop and sell three insurance businesses.
The Board believes that Michael's considerable insurance experience will be
valuable as the Company develops its cosmetic surgery insurance product.
The Company has granted Michael Evans options over 9,000,000 ordinary shares at
an exercise price of 0.3p per share, which is at a premium to the mid market
price as at the close of business on 9 April 2009, which was 0.275p. The options
will vest in three tranches as follows:
* 3,000,000 options will vest on the first anniversary of his appointment;
* 3,000,000 options will vest on the second anniversary of his appointment; and
* 3,000,000 options will vest on the third anniversary of his appointment.
After vesting, the options will be exercisable at any time until 1 April 2014.
If all the options were exercised Michael Evans would be interested in
approximately 2.33 per cent. of the enlarged issued share capital, assuming no
other shares were issued by the Company.
Michael Richard Evans, aged 63, has held the following directorships within the
last five years:
Current: nil
Past: All Accidents Limited
Legal and Insurance Services On Line Limited
Michael was a director of the following companies at the time of the following
events:
MACC Limited - voluntary creditors liquidation - entered into on 18 April 2002
Motor Claims Advisory Centre Limited - compulsory liquidation - entered into on
27 April 2000
Welton Motors Limited - compulsory liquidation - entered into on 3 April 2000
There are no further disclosures to be made in accordance with schedule 2 (g) of
the AIM Rules.
Contact:
IncaGold plc
Justin Martin, Director
Tel: +44(0)1624 820040
Website: www.incagoldplc.com
Zeus Capital Limited
Ross Andrews
Tom Rowley
Tel: +44(0)161 8311512
Website: www.zeuscapital.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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