Issue of Options
Goldstone Resources Limited has announced the issuance of 113,000,000 share options to directors and a senior manager, with exercise prices of 1.25 pence and 1.5 pence per ordinary share. These options vest immediately and have a five-year term, intended to incentivize management and align their interests with shareholders. This marks the first option issuance since August 2024, with the remaining 28,000,000 options from a previous award being cancelled.
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GoldStone Resources Limited (AIM:GRL) announces an issuance of options over ordinary shares in the Company ("Options") to directors and a senior manager of the Company.
The award of the Options represents the first issuance of share options by the Company since August 2024, and the Board believes that it is essential for the Company's directors and senior managers to be suitably incentivised to drive the business forwards and to further align their interests with those of the Company's shareholders.
Of the 56,000,000 share options that were awarded on 1 August 2024, a total of 28,000,000 Options were granted, with an exercise price of £0.02 per ordinary share. The remainder for Tranche 2 and Tranche 3 have been cancelled, which amounted to 28,000,000 share options.
The new share Options, which vest on issue and have a 5-year term, are exercisable at varying premiums to the latest closing mid-market price of the Company's ordinary shares and are allotted in two equal tranches as follows:
Exercise Price
| Director / Senior Manager | 1.25 pence | 1.5 pence |
|---|---|---|
| Campbell Smyth | 12,000,000 | 12,000,000 |
| Emma Priestley | 20,000,000 | 20,000,000 |
| Orrie Fenn | 7,000,000 | 6,000,000 |
| Michael Jones | 6,000,000 | 6,000,000 |
| Richard (Kofi) Amegashie | 6,000,000 | 6,000,000 |
| John Culter (Senior Manager) | 6,000,000 | 6,000,000 |
| e | Reason for notification | |
| a. | Position/Status | a) Non-Executive Director (Chair) b) Director (CEO) c) Non-executive Director d) Non-executive Director e) Non-executive Director f) Senior manager |
| b. | Initial notification /Amendment | Initial Notification |
| a. | Name | Goldstone Resources Limited |
| b. | LEI | 213800B7ATYRPQUTS551 |
| 4 | Details of the transaction(s): section to be repeated for (e) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a. | Description of the financial instrument, type of instrument Identification Code | Options over Ordinary shares of 1p each JE00BRJ8YF63 |
| b. | Nature of the transaction | Grant of Share Options |
| c. | Price(s) and volume(s) | Exercise Price Director / Senior Manager 1.25 pence 1.5 pence Campbell Smyth 12,000,000 12,000,000 Emma Priestley 20,000,000 20,000,000 Orrie Fenn 7,000,000 6,000,000 Michael Jones 6,000,000 6,000,000 Richard (Kofi) Amegashie 6,000,000 6,000,000 John Culter (Senior Manager) 6,000,000 6,000,000 |
| d. | Aggregated information - Volume* - Price | 113,000,000 As above |
| f. | Place of the transaction | Off-exchange |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.