The awards are in the form of Performance Units ('PUs') as defined in the Plan. The vesting date for the PUs shall be
The number of PUs 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, in this case, the greater of (i) the closing price of Caledonia's shares on the NYSE American on the trading day preceding the date of the award or (ii) the volume-weighted average closing price of Caledonia's shares on the NYSE American for the five days preceding the date of the award, which resulted in a price of
The final number of PUs which vest on maturity of the awards will be adjusted to reflect the actual performance of the Company in terms of various operating metrics, subject to certain minimum and maximum thresholds.
Each PU that vests entitles the participant to receive one Caledonia common share (or a security representing a share) on the maturity of the award. Shares that are issued pursuant to vesting PUs are subject to a minimum holding period of one year in case vested awards become subject to forfeiture, reduction or cancellation.
Contact:
Tel: +44 1534 679 802
Note
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