Anglesey Mining plc granted a total of 10,900,000 share options to directors and employees at a premium of 38%.
DIRECTORS
The share options have an exercise price of £0.04, a premium to the closing share price of £0.029 on 3 August 2022.
The vesting conditions comprise 25% each on the dates 31 March 2023, 30 September 2023, 31 March 2024 and 30 September 2024.
The options will lapse on 31 March 2030.
Chairman John F Kearney received 2m options at an exercise price of £0.04 pence, chief executive officer Jo Battershill (2.8m), finance director Danesh Varma (1.5), non-executive director Howard Miller (1m),and independent NEDs Namrata Verma and Andrew J King (1m each).
Mr Battershill also received 500,000 options for having achieved certain agreed milestones.
After admission, the company’s issued share capital will comprise 280,675,721 ordinary shares.
Anglesey Mining said it was important to recognise that directors had to be incentivised to help move the company forward.
“The award of the options represents the first issuance of share options to directors and employees since September 2016.
“The non-executive directors of the company had also previously waived the payment of cash fees since July 2014.”