Altona Rare Earths plc today issued a total 2,080,494 ordinary shares of £0.01 each in lieu of cash salary payments to its directors.
TVRs
The move is accordance with agreed measures to conserve cash on a month-by-month basis.
Chief executive officer Cedric Simonet received 573,276 shares to hold 3,398,986 shares in total, representing 2.05% holding in the company.
Chief financial officer Louise Adrian was issued with 1,194,304 shares and now holds 5,534,594 shares (3.32%).
Non-executive chairman and director Simon Charles received 179,148 shares (781,148; 0.47%) and NED Kristoffer Andersson received 133,766 shares (0.08%).
The company also issued 1,645,944 shares to a service provider in lieu of £20,160 fees.
Following admission of the aggregate 3,726,438 shares, Altona’s enlarged share capital and total voting rights will number 166,742,304. The company has no shares held in treasury.
Altona’s current multi-metal and mineral assets are in Tanzania and Botswana.