Issue of Options
Cadence Minerals PLC has announced the award of 21,280,000 share options exercisable at 6 pence per share, a 10% premium to the previous day's closing price of 5.5 pence. These options, which vest immediately and expire on December 31, 2031, have been granted to four Persons Discharging Managerial Responsibilities (PDMRs), including the Non-Executive Chairman, Chief Executive Officer, Finance Director, and a Non-Executive Director, each receiving 5,320,000 options. The total options granted represent 4.97% of the company's existing issued share capital, with an additional 14,720,000 options already outstanding.
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Cadence Minerals (AIM: KDNC) announces the award of 21,280,000 share options ("Share Options"). Each Share Option is exercisable over one ordinary share in the capital of the Company ("the "Ordinary Shares"). The Share Options are exercisable at a price of 6 pence per share being approximately 10% premium to the closing mid-price of the Ordinary Shares on 5 May 2026 of 5.5 pence. These options will vest immediately and will expire on 31 December 2031.
The total options granted over Ordinary Shares to Persons Discharging Managerial Responsibilities within the Company (each being a "PDMR") are detailed below:
| Director, PDMR | Position | Options |
|---|---|---|
| Andrew Suckling | Non-Executive Chairman | 5,320,000 |
| Kiran Morzaria | Chief Executive Officer | 5,320,000 |
| Donald Strang | Finance Director | 5,320,000 |
| Adrian Fairbourn | Non-Executive Director | 5,320,000 |
The Share Options represent in aggregate 4.97% of the existing issued share capital. There are currently 14,720,000 other options outstanding.
The Directors of the Company accept responsibility for the contents of this announcement.
| a) | Name | Cadence Minerals PLC | ||||
| b) | LEI | 213800TUZWG9C2GRNO58 | ||||
| a) | Description of the financial instrument Identification Code | Options over Ordinary Shares GB00B067JC96 | ||||
| b) | Nature of the transaction | Issue of options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | 5,320,000 6p | ||||
| e) | Date of the transaction | 6 May 2026 | ||||
| f) | Place of the transaction | Outside of a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Donald Strang | ||||
| 2 | Reason for the notification | |||||
| a) | Position / Status | Finance Director | ||||
| b) | Initial notification / Amendment | Initial notification | ||||
| a) | Name | Cadence Minerals PLC | ||||
| b) | LEI | 213800TUZWG9C2GRNO58 | ||||
| a) | Description of the financial instrument Identification Code | Options over Ordinary Shares GB00B067JC96 | ||||
| b) | Nature of the transaction | Issue of options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | 5,320,000 6p | ||||
| e) | Date of the transaction | 6 May 2026 | ||||
| f) | Place of the transaction | Outside of a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Andrew Suckling | ||||
| 2 | Reason for the notification | |||||
| a) | Position / Status | Non-Executive Director | ||||
| b) | Initial notification / Amendment | Initial notification | ||||
| a) | Name | Cadence Minerals PLC | ||||
| b) | LEI | 213800TUZWG9C2GRNO58 | ||||
| a) | Description of the financial instrument Identification Code | Options over Ordinary Shares GB00B067JC96 | ||||
| b) | Nature of the transaction | Issue of options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | 5,320,000 6p | ||||
| e) | Date of the transaction | 6 May 2026 | ||||
| f) | Place of the transaction | Outside of a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Adrian Fairbourn | ||||
| 2 | Reason for the notification | |||||
| a) | Position / Status | Non-Executive Director | ||||
| b) | Initial notification / Amendment | Initial notification | ||||
| a) | Name | Cadence Minerals PLC | ||||
| b) | LEI | 213800TUZWG9C2GRNO58 | ||||
| a) | Description of the financial instrument Identification Code | Options over Ordinary Shares GB00B067JC96 | ||||
| b) | Nature of the transaction | Issue of options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | 5,320,000 6p | ||||
| e) | Date of the transaction | 6 May 2026 | ||||
| f) | Place of the transaction | Outside of a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.