Executive Director Appointment and Options Issue
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80 Mile plc ('80 Mile' or the 'Company'), the AIM, FSE listed and Pink-Market traded exploration and development company with projects in Greenland and Finland, would like to announce the appointment of Mr. Roderick McIllree as Executive Director of the Company, following the previously announced acquisition of White Flame Energy.
- McIllree brings extensive experience in the mining and exploration sectors, particularly in Arctic environments, making him an ideal addition to the Executive Team as 80 Mile advances its key projects in Greenland and Finland. His appointment marks a significant step in the Company's strategy to accelerate project development and unlock value for shareholders.
In connection with this appointment, the Company has issued a total of 64,500,000 options to directors and employees, each exercisable at 1 pence for a period of 5 years from the date of issue. These options align the interests of the Board and management with those of shareholders, ensuring a focus on long-term growth.
Following this issue, there will be a total of 175,900,000 options on issue, representing 8.61% of the Company's current shares in issue, and the new allocation further strengthens the alignment of the executive team with the Company's growth strategy.
The options are being allocated as follows:
Number of options granted
| Directors | 50,000,000 | |||||
| Employees and Consultants | 14,500,000 | |||||
| Total | 64,500,000 | |||||
| a) | Name: | Eric Sondergaard | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Chief Executive Officer | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| a) | Name: | 80 Mile Plc | ||||
| b) | LEI: | 213800E9AEFEHFLOVJ19 | ||||
| a) | Description of the financial instrument, type of instrument: Identification code: | Share options over ordinary shares of 0.01p each GB00BFD3VF20 | ||||
| b) | Nature of the transaction: | Grant of options over ordinary shares | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: Aggregated volume: Price: | Single transactions as in 4 c) above Price(s) Volume(s) 1 pence 25,000,000 | ||||
| e) | Date of the transaction: | 2024-10-25 | ||||
| f) | Place of the transaction: | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Rod McIllree | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Executive Director | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| a) | Name: | 80 Mile Plc | ||||
| b) | LEI: | 213800E9AEFEHFLOVJ19 | ||||
| a) | Description of the financial instrument, type of instrument: Identification code: | Share options over ordinary shares of 0.01p each GB00BFD3VF20 | ||||
| b) | Nature of the transaction: | Grant of options over ordinary shares | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: Aggregated volume: Price: | Single transactions as in 4 c) above Price(s) Volume(s) 1 pence 25,000,000 | ||||
| e) | Date of the transaction: | 2024-10-25 | ||||
| f) | Place of the transaction: | Outside a trading venue |
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