Condor Gold plc has issued one million shares for a total £220,000 following notices to exercise options, from 2019, with an exercise price of 22p.
The company issued 300,000 ordinary shares to Galloway Ltd and chairman Jim Mellon who will hold a total 53,402,480 ordinary shares, representing 26.12% of the company’s issued ordinary shares.
Chief executive Mark Child will receive 100,500 ordinary shares and have a total l4,862,460 ordinary shares (2.38%).
Chief technical officer and a PDMR Dave Crawford will be issued with 100,000 ordinary shares and will own 105,000 ordinary shares (0.05%).
A further 499,500 of the 2019 options were exercised on a cashless basis, with the resulting shares immediately sold in the market to a third party at 22p per share.
Following admission, Condor will have 204,442,778 ordinary shares with a nominal value of £0.001 each in issue, with voting rights.
The company is still in the process of selling its flagship La India project in Nicaragua.