Chesterfield Resources plc has issued certain directors, employees and consultants with options over a total of 2,200,000 ordinary shares of 0.1p each.
INCENTIVE
The options will vest immediately and expire five years from the date of issue with an exercise price of 11p.
Executive directors Martin French and Ajay Kejriwal received 750,000 and 350,000 options respectively; PDMR Neil O’Brien, 350,000; and non-executive directors Peter Damouni, Dave Cliff and Paul Ensor each received 250,000 options.
“It is the target of the remuneration committee to maintain total incentive options at around 10% of fully diluted share capital, which is an industry norm,” said chief executive Mr French.
“We anticipate ongoing results, and other activity, over coming months and took the opportunity to allocate options while the compliance window was open to do so.
“The options are being issued at approximately a 45% premium to the current share price.”