Issue of Share Options
First Class Metals PLC has issued 14,795,000 ordinary share options to directors and senior management at exercise prices of £0.02, £0.05, and £0.10, representing approximately 3.3% of the company's issued share capital. These options are intended to align management's interests with shareholders and support the company's long-term growth strategy. The options have varying vesting schedules and exercise periods, with the £0.02 options vesting immediately and expiring on July 28, 2027, while others vest in tranches over one to three years and are exercisable for three to four years from the grant date of July 17, 2026.
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First Class Metals plc (LSE: FCM) (the "Company"), the Ontario focused gold and critical metals exploration company, announces that it has issued options over a total of 14,795,000 ordinary shares of £0.001 each in the capital of the Company (the "Options") pursuant to the Company's Share Option Plan.
The Options have been granted to directors and senior management in recognition of their continued contribution to the Company and to further align their interests with those of shareholders through the Company's long-term growth strategy.
Details of share option awards
| Option Holder | Number of Options | Exercise Price |
|---|---|---|
| James Knowles | 2,000,000 | £0.05 |
| Marc Sale | 2,000,000 | £0.05 |
| Marc Bamber | 1,000,000 | £0.05 |
| Andrew Williamson | 1,000,000 | £0.05 |
| Siddharth Muricken | 1,000,000 | £0.05 |
| Marc Sale | 795,000 | £0.02 |
| James Knowles | 2,000,000 | £0.10 |
| Marc Sale | 2,000,000 | £0.10 |
| Marc Bamber | 1,000,000 | £0.10 |
| Andrew Williamson | 1,000,000 | £0.10 |
| Siddharth Muricken | 1,000,000 | £0.10 |
The Options with an exercise price of £0.05 and £0.10 relate to awards that were proposed in the Company's Prospectus published on 25 February 2025. The £0.05 Options vest in three equal tranches being: on the Date of Grant, the first anniversary of the Date of Grant and the second anniversary of the Date of Grant and are exercisable for a period of three years from the Date of Grant.
The £0.10 Options vest in four equal tranches on issue being: on the Date of Grant, the first anniversary of the Date of Grant, the second anniversary of the Date of Grant and the third anniversary of the Date of Grant and are exercisable for a period of four years from the Date of Grant.
The 795,000 Options granted to Marc Sale with an exercise price of £0.02 were awarded pursuant to the proposals set out in the Company's Prospectus published on 26 July 2022 award in conjunction with the Company's admission to the Official List. These vest immediately on the Date of Grant and expire on 28 July 2027.
The Date of Grant for all of the Options is 17 July 2026.
Following the above issue, the Company has 14,795,000 share options outstanding, representing approximately 3.3% of its issued share capital.
James Knowles, Executive Chair
Marc J Sale, CEO and Executive Director
AlbR Capital Limited (Financial Adviser)
David Coffman/Dan Harris
Axis Capital Markets (Broker)
Richard Hutchinson
Notification and public disclosure of transaction by person discharging managerial responsibilities
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |
| a. | Name | 1-James Knowles 2-Marc Sale 3-Marc Bamber 4-Andrew Williamson 5-Siddharth Muricken |
| 2 | Reason for notification | |
| a. | Position/Status | 1-Executive Chairman 2-Director & CEO 3-NED 4-NED 5-Company Secretary |
| b. | Initial notification/ Amendment | 17 July 2026 |
| a. | Name | First Class Metals PLC |
| b. | LEI | 894500V981ZTFLGVOZ38 |
| a. | Description of the financial instrument, type of instrument Identification Code | Ordinary Shares of £0.001 each ISIN Code: GB00BPJGTF16 |
| b. | Nature of the transaction | Grant & Issue of Options |
| c. | Price(s) and volume(s) | Price Volume 1) 5.0p 2,000,000 2) 5.0p 2,000,000 3) 5.0p 1,000,000 4) 5.0p 1,000,000 5) 5.0p 1,000,000 6) 2.0p 795,000 7) 10.0p 2,000,000 8) 10.0p 2,000,000 9) 10.0p 1,000,000 10) 10.0p 1,000,000 11) 10.0p 1,000,000 |
| d. | Aggregated information - Aggregated Volume - Price | Aggregated Volume =14,795,000 (795,000 @ 2p, 7,000,000 @ 5p & 7,000,000 @ 10p) |
| f. | Place of the transaction | London UK |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.