Serabi Gold Announces Vesting and Cash Settlement of 2022 Share Awards

Serabi Gold ( (GB:SRB) ) has shared an announcement.

Serabi Gold announced the vesting of 2022 Conditional Share Awards under its Long Term Incentive Plan, with a total of 482,528 new ordinary shares due to vest. The awards were based on performance criteria over a three-year period, including Total Shareholder Return, Return on Capital Employed, and Return on Sales. To minimize the issuance of new shares, the company opted for cash settlement based on the 20-day VWAP price. CEO Mike Hodgson purchased additional shares, demonstrating commitment to the company. This move aligns directors’ and shareholders’ interests and reflects a strong cash position, potentially impacting stakeholder confidence and market perception.

Spark’s Take on GB:SRB Stock

According to Spark, TipRanks’ AI Analyst, GB:SRB is a Outperform.

Serabi Gold’s strong financial performance and attractive valuation are the most significant factors contributing to its overall score. The bullish technical indicators are tempered by potential overbought conditions, while positive corporate events further enhance the company’s growth prospects.

To see Spark’s full report on GB:SRB stock, click here.

More about Serabi Gold

Serabi Gold plc is a gold exploration, development, and production company focused on the Tapajós region in Para State, northern Brazil. The company consistently produces 30,000 to 40,000 ounces of gold per year from the Palito Complex and plans to double production with the Coringa Gold project. Serabi Gold has also made a copper-gold porphyry discovery and is headquartered in the UK with a secondary office in Toronto, Canada.

Average Trading Volume: 759,171

Technical Sentiment Signal: Buy

Current Market Cap: £155.4M

For detailed information about SRB stock, go to TipRanks’ Stock Analysis page.