Cornish Metals Inc has granted 11 million incentive stock options over common shares in the company to executive management and senior staff.
PDMRs
The exercise price is £0.18 per share, the same as the investment price paid by Vision Blue Resources in the May 2022 fundraise of £40.5m.
Chief executive officer Richard Williams received 2.4m options taking his total to 3.2m; chief operating officer Own Mihalop received 2m (2.75m) and chief financial officer Matthew Hird received 1.6m (2.35m).
The Canadian company’s remuneration committee engaged The Bedford Group (Toronto) and Deloitte (UK) for independent guidance on appropriate levels of compensation to executives.
The committee will grant stock options annually, with 2% of the issued capital granted as options annually.