Sulliden Gold terminates milestone bonus plan; shares rise
(Reuters) - Shares of Sulliden Gold Corp Ltd (SUE.TO) rose 14 percent after the miner terminated its milestone bonus plan for executives following discussions with shareholders.
The bonus plan would have rewarded executives for completion of an environmental impact assessment and for adding to the resource estimates of its flagship gold project in Peru, among other milestones.
Bonuses related to share performance would be discretionary and be determined by the compensation committee and the board.
Sulliden, which has a market value of C$226 million ($229 million), has assets in Peru and Canada.
The company's shares had fallen 34 percent this year up to Wednesday. They were up at C$1.04 in morning trading on the Toronto Stock Exchange. The stock was one of the top percentage gainers on the exchange.
($1 = 0.9880 Canadian dollars)
(Reporting by Ankur Banerjee in Bangalore; Editing by Maju Samuel)
- Malaysian plane presumed crashed; questions over false IDs |
- CORRECTED-UPDATE 4-Malaysia Airlines plane crashes in South China Sea with 239 people aboard - report
- China draws 'red line' on North Korea, says won't allow war on peninsula
- Warning shots fired to turn monitors back from Crimea |
- Libya threatens to bomb North Korean tanker if it ships oil from rebel port