Awards under Restricted Share Unit Plan
RSU awards granted to CEO and three executives with performance conditions to December 2025.
- RSU Award Date 12 February 2025
- Initial Price CAD 0.552
- Hurdle Rate 10% p.a. above Initial Price
- CEO Award 2,048,268 shares (40% of pool)
- Total Pool 10% of growth above Hurdle rate, not exceeding 10% of share capital
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TORONTO, ONTARIO – 12 February 2025 – Amaroq Minerals Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ), an independent mining company with a substantial land package of gold and strategic mineral assets in Southern Greenland, announces that in alignment with the Company’s RSU plan dated 14 June 2024, the Company granted an award (the “Award”) to directors and employees of the Company as listed below.
The RSU plan, communicated to the market following the Company’s Admission to AIM in 2020, was developed with input from PwC. The RSU plan was initially approved by the Company's shareholders at the AGM held on 16 June 2022 and further amended and approved by the AGM resolution on 15 June 2023 and on 14 June 2024.
Conditional awards were granted to participants on 30 December 2022 and 13 October 2023. The performance period runs from 1 January 2022 to 31 December 2025 with measurement dates at 31 December 2023, 31 December 2024 and 31 December 2025.
The details of the Award are as follows:
| Award Date | 12 February 2025 |
| Initial Price | CAD 0.552 |
| Hurdle Rate | 10% p.a. above the Initial Price |
| Total Pool | 10% of the growth in value above the Hurdle rate, not exceeding 10% of the Company’s share capital The number of shares is determined at the Measurement Dates |
| Participant proportions and Number of shares subject to RSU | Eldur Olafsson, CEO 40% 2,048,268 shares Joan Plant, Executive VP 10% 512,067 shares James Gilbertson, VP Exploration 10% 512,067 shares Edward Wyvill, Corporate Development 10% 512,067 shares |
| Second Measurement Date: | 31 December 2024 50% of the Shares will vest on the first anniversary of grant, with the remaining 50% vesting on the second anniversary of grant. |
Amaroq Minerals Ltd.
Eldur Olafsson, Executive Director and CEO
Eddie Wyvill, Corporate Development
Panmure Liberum Limited (Nominated Adviser and Corporate Broker)
Scott Mathieson
Nikhil Varghese
Josh Moss
Canaccord Genuity Limited (Corporate Broker)
James Asensio
Harry Rees
Camarco (Financial PR)
Billy Clegg
Elfie Kent
Fergus Young
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