Ascent Resources plc has awarded 4.6 million options over ordinary shares to certain employees and persons discharging managerial responsibilities (PDMRs).
PDMRs
The performance vesting criteria for the options is the execution of a cash-generating ESG metals transaction consistent with the company’s strategy, said Ascent.
Executive chairman James Parsons and chief executive officer Andrew Dennan each received 1,500,000 share options.
Non-executive directors Malcolm Graham Wood and Stephen Birrell each received 500,000 share options.
Following the grant of options, the directors’ shareholdings are:
| Directors | Ordinary shares | % of Issued Share Capital | Options |
| James Parsons | 500,900 | 0.369 | 2,885,894 |
| Andrew Dennan | 2,140,000 | 1.578 | 2,885,894 |
| Malcolm Graham Wood | 0 | 500,000 | |
| Stephen Birrell | 0 | 500,000 |
The five-year options, granted on 11 November 2022, have a three-year vesting period and exercise price of 5p.