Golden Metal Resources plc has granted options over 3.9 million new ordinary shares of 1 pence each in the company to certain directors, employees and advisors.
The options, representing 4.6% of the existing issued share capital of the company, allow subscription for new ordinary shares at an exercise price of 14p, with an immediate vesting period.
The expiry date is 21 December 2026.
Golden Metal said that the grant recognised the team’s contribution to the company’s rapid development and the strategic current value of its portfolio.
The board directors each received 500,000 new options including chief executive officer Oliver Friesen who now holds 2,604,859 options; chairman David Ovadia; and non-executive directors JT Starzecki, Mike Burnett and Mick Billing.
A new pool of 1.4m new options for Golden Metal employees and advisors will be allocated in line with the board’s instructions to non-board team members, and on the same terms as the director options.