Oriole Resources plc said it would issue a total 2,116,259 ordinary shares to members of the board in relation to £7,000 of gross salary foregone during April 2023.
The shares will be issued at a 25% premium to their previously agreed pricing under the six-month salary sacrifice scheme.
Oriole added that, due to the increase in the company’s share price over the last month, it was more appropriate for the conversion price to be the mid-market closing price on 10 May 2023, of 0.205p, rather than a 30-day WVAP at the end of April.
On admission, the directors will collectively hold 8.41% of the issued share capital, comprising 2,850,839,005 ordinary shares, in the company.
| Name | Number of Ordinary Shares Issued | Resultant shareholding in the Company | Percentage of the issued share capital of the Company |
| Eileen Carr | 273,170 | 152,672,969 | 5.36% |
| Tim Livesey | 692,073 | 38,308,323 | 1.34% |
| David Pelham | 182,115 | 6,681,075 | 0.23% |
| Claire Bay | 415,243 | 9,739,901 | 0.34% |
| Bob Smeeton | 553,658 | 32,436,378 | 1.14% |
Since June 2022, Oriole’s board has collectively committed to salary sacrifices totalling £140,000 of gross salaries.