Exercise of Options
Cobra Resources plc announced the exercise of options by directors and a former director, resulting in the issuance of 10,000,000 new ordinary shares. Directors Daniel Maling and David Clarke exercised options for 2,000,000 shares at £0.02 each and 3,000,000 shares at £0.03 each, respectively, contributing £40,000 and £90,000 to the company. Additionally, former non-executive director Greg Hancock exercised options for 3,000,000 shares at £0.03 and 2,000,000 shares at £0.04, totaling £170,000. The total consideration received for these option exercises was £300,000. Application has been made for the admission of these 10,000,000 new ordinary shares to trading on the London Stock Exchange, expected to be effective on or around July 17, 2026, at which point the company's total voting rights will be 1,085,653,414.
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Cobra (LSE: COBR), a South Australian mineral exploration and development company, announces that it has received notice of exercise of options ("Options") to subscribe for new ordinary shares ("Option Shares") of nominal value 1 pence each in the capital of the Company ("Ordinary Shares") from certain directors of the Company. The total consideration paid to the Company in connection with the exercise of such Options was £130,000.
A total of 3,000,000 Options with an exercise price of 3 pence per Option Share have been exercised, along with a further 2,000,000 Options with an exercise price of 2 pence per Option Share (together the "Director Option Exercise"). The participation by directors in the Director Option Exercise is set out in the table below:
| Name | Role | Number of Options being exercised | Resultant no. of Ordinary Shares held | Resultant % ownership |
|---|---|---|---|---|
| Daniel Maling | Non-Executive Director | 2,000,000 | 3,965,065 | 0.37% |
| David Clarke | Director, Business Development and Asset Marketing | 3,000,000 | 119,703,490 | 11.03% |
The Company further announces that it has received notice of an exercise of Options over 3,000,000 Option Shares at an exercise price of 3 pence per Option Share and a further 2,000,000 Options at an exercise price of 4 pence per Option Share (the "Option Exercise") in connection with the issue of Option Shares to Greg Hancock, a former non-executive director of the Company (the Option Shares together with the Director Option Shares being the "New Ordinary Shares"). The total consideration paid to the Company in connection with the exercise of such Options was £170,000.
The New Ordinary Shares will rank pari passu with the existing Ordinary Shares and application has been made for admission of 10,000,000 New Ordinary Shares to be admitted to trading on the main market for listed securities of London Stock Exchange plc ("Admission"). It is expected that Admission will become effective and dealings in the New Ordinary Shares will commence at 8.00 a.m. on or around 17 July 2026.
Total Voting Rights
Following Admission, the Company's issued ordinary share capital will consist of 1,085,653,414 Ordinary Shares with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company will be 1,085,653,414. With effect from Admission, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Regional map showing Cobra's tenements in South Australia
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| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Daniel Maling | ||||
| 2 | Reason for Notification | |||||
| a) | Position/status | Non-Executive Director, PDMR | ||||
| b) | Initial notification/amendment | Initial notification | ||||
| a) | Name | Cobra Resources plc | ||||
| b) | LEI | 213800XTW5PLLK72TQ57 | ||||
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of 1 pence each | ||||
| Identification code | GB00BGJW5255 | |||||
| b) | Nature of the transaction | Exercise of Options to subscribe for Ordinary Shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information | |||||
| - Aggregated volume | 2,000,000 | |||||
| - Price | £40,000 | |||||
| e) | Date of the transaction | 14 July 2026 | ||||
| f) | Place of the transaction | Off Market | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | David Clarke | ||||
| 2 | Reason for Notification | |||||
| a) | Position/status | Director, Business Development and Asset Marketing , PDMR | ||||
| b) | Initial notification/amendment | Initial notification | ||||
| a) | Name | Cobra Resources plc | ||||
| b) | LEI | 213800XTW5PLLK72TQ57 | ||||
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of 1 pence each | ||||
| Identification code | GB00BGJW5255 | |||||
| b) | Nature of the transaction | Exercise of Options to subscribe for Ordinary Shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information | |||||
| - Aggregated volume | 3,000,000 | |||||
| - Price | £90,000 | |||||
| e) | Date of the transaction | 14 July 2026 | ||||
| f) | Place of the transaction | Off Market |
Section 430 (2B) Companies Act 2006 statement
For the purposes of section 430(2B) of the Companies Act 2006, the Company confirms that Greg Hancock has not and will not receive any loss of office payments.
Greg Hancock has been treated as a good leaver under the Company's Share Option Plan. He has retained his vested Options (subject to the Option Exercise detailed in this announcement).
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.