Tungsten West plc has granted directors and employees a total of 2,799,982 options over ordinary shares of £0.01 each in the company.
PDMRs
Recipients include the chief financial officer, managing director, executive vice chairman and other employees pursuant to the company share option plan (2022 CSOP) and employee share option plan (2022 ESOP).
The options are exercisable at a price of £0.275 per ordinary share and will vest three years from the date of grant.
| Directors and PDMR | Options granted | Total number of share options following this notification | Total beneficial holding of shares following this notification | Total beneficial holding (options + ordinary shares) as % of Company’s fully diluted issued share capital |
| Anthony Nigel Widdowson, Chief Financial Officer | 100,000 | 400,000 | Nil | 0.19 |
| James McFarlane, Managing Director (non-board position) | 100,000 | 933,333 | Nil | 0.45 |
| Mark Thompson, Executive Vice Chairman | 150,000 | 5,121,586 | 4,317,238 | 4.53 |
Following the grant, Tungsten West said it had to date a total of 25,016,885 options in issue representing approximately 13.9% of the company’s current issued share capital.