Condor Gold plc granted directors, employees and consultants a total 4.6 million share options, representing 2.45% of the issued share capital, under its existing share option scheme.
PDMRs*
On 6 July, directors receiving in total 3,250,000 options include chief executive officer Mark Child 1,250,000 options; chairman Jim Mellon 300,000; non-executive directors Kate Harcourt 300,000; Andrew Cheatle 300,000; Ian Stalker 300,000; Denham Eke 300,000; chief financial officer Andrew Pearce 300,000; chief technical officer David Crawford 200,000.
Other employees and consultants received a total 1,350,000 options.
Of the options, 200,000 were awarded through Condor’s enterprise management incentive (EMI) scheme established in August 2018 as a sub-plan of the share option scheme.
The EMI scheme is open only to the company’s employees who are UK tax resident.
The 2023 options have an exercise price of £0.23 pence per share and are exercisable for a period of five years from the grant date.
Following the grant of the 2023 options, the total share options outstanding will represent 10.49% of the total number of 187,457,491 ordinary shares in issue, which includes 6,666,667 new ordinary shares to be issued to Galloway Ltd under a July warrant exercise.
*persons discharging managerial responsibilities