Notification of transactions by Directors
CEO and CFO exercised vested LTIP options, sold shares to cover tax, and received new LTIP awards vesting in March 2028.
- CEO options exercised 63,542
- CFO options exercised 90,547
- CEO shares sold 29,985 (prior at £0.5994 per share)
- CFO shares sold 42,728 (prior at £0.5994 per share)
- CEO new LTIP awards granted 1,319,818
- CFO new LTIP awards granted 804,135
Select text to share a quote on X · sign in to keep highlights & notes in your ECOR notes
Ecora (LSE/TSX: ECOR, OTCQX: ECRAF) announces that on 27 March 2025 the Company transferred 436,733 ordinary shares of 2 pence each in the Company ("Shares") out of treasury (the "Transfer"), to satisfy exercises of options by a number of employees, including Marc Bishop Lafleche, Chief Executive Officer and Kevin Flynn, Chief Financial Officer.
Mr. Bishop Lafleche and Mr. Flynn exercised 63,542 and 90,547 nil cost option awards (the "Awards") granted under the Company's Long Term Inventive Plan ("LTIP") on 27 March 2025, respectively. The Awards vested on 24 February 2025, following the assessment of the performance conditions which are disclosed in the 2024 Remuneration Report on pages 117 and 118 of the 2024 Annual Report and Accounts, available on the Company's website www.ecora-resources.com. Subsequently, Mr. Bishop Lafleche and Mr. Flynn sold 29,985 and 42,728 Shares, respectively, at an average approximate price of £0.599 per Share, to satisfy income tax associated with the Awards.
On 27 March 2025 awards of Shares were made under the Company's LTIP at nil cost, with Mr. Bishop Lafleche granted 1,319,818 Awards and Mr. Flynn granted 804,135 Awards as detailed below. A share price of £0.6431, being the 5-day volume weighted average price before grant as approved by the Company's Remuneration Committee, has been used to determine the number of Shares awarded.
The LTIP provides Directors with Shares awarded on a conditional basis as determined by the Remuneration Committee. These awards will vest in March 2028, subject to the satisfaction of performance conditions linked to total shareholder return, portfolio contribution and adjusted earnings per share as detailed on page 112 of the 2024 Annual Report and Accounts. Any vested Shares will then be subject to a further holding period of two years and will be released in March 2030.
Total Voting Rights
These transactions took place on the London Stock Exchange.
Director Share Dealings - Further information
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a. | Name | Mr. Marc Bishop Lafleche |
| 2. | Reason for the notification | |
| a. | Position/status | Chief Executive Officer of Ecora Resources PLC |
| b. | Initial notification/Amendment | Initial Notification |
| a. | Name | Ecora Resources PLC |
| b. | LEI | 213800LXSV317746JZ71 |
| b. | Nature of the transaction | Exercise of options and sale of shares. Award of Shares under the terms of the Ecora Resources PLC Long-Term Incentive Plan 2021. Subject to the satisfaction of performance conditions, the award will vest in March 2028; the Shares will then be subject to a further holding period of two years and will be released in March 2030. |
| c. | Price(s) and volume(s) | Exercise of options - 27 March 2025 Price(s) Volume(s) Nil (exercise of options) 63,542 Sale of shares - 27 March 2025 Price(s) Volume(s) £0.5994 29,985 Grant of shares - 27 March 2025 Price(s) Volume(s) Nil (grant of options) 1,319,818 |
| d. | Aggregated information · Aggregated volume · Price | See above |
| f. | Place of the transaction | London Stock Exchange, Main Market (XLON) |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a. | Name | Mr. Kevin Flynn |
| 2. | Reason for the notification | |
| a. | Position/status | Chief Financial Officer of Ecora Resources PLC |
| b. | Initial notification/Amendment | Initial Notification |
| a. | Name | Ecora Resources PLC |
| b. | LEI | 213800LXSV317746JZ71 |
| b. | Nature of the transaction | Exercise of options and sale of shares Award of Shares under the terms of the Ecora Resources PLC Long-Term Incentive Plan 2021. Subject to the satisfaction of performance conditions, the award will vest in March 2028; the Shares will then be subject to a further holding period of two years and will be released in March 2030. |
| c. | Price(s) and volume(s) | Exercise of options Price(s) Volume(s) Nil (exercise of options) 90,547 Sale of shares Price(s) Volume(s) £0.5994 42,728 Grant of shares Price(s) Volume(s) Nil (grant of options) 804,135 |
| d. | Aggregated information · Aggregated volume · Price | See above |
| f. | Place of the transaction | London Stock Exchange, Main Market (XLON) |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.