Conversion Of Vested RSUs into Ordinary Shares
Mineral & Financial Investments Limited announced the conversion of 950,000 fully vested Restricted Share Units into ordinary shares at nil cost for key personnel, including Chairman Mark Brown (275,000 shares), CEO Jacques Vaillancourt (400,000 shares), and NED Sean Keenan (275,000 shares). Following this conversion, the company's issued ordinary share capital will increase to 38,855,871 shares, with admission of the new shares expected on February 5, 2026. This transaction impacts insider shareholdings, with Jacques Vaillancourt's total ownership, including shares and unvested RSUs, reaching 20.4%.
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GEORGE TOWN, CAYMAN ISLANDS, January 30, 2026 - Mineral and Financial Investments Limited (LSE-AIM: MAFL) ("M&FI" or the "Company") is an London Stock Exchange AIM quoted Investment company focused on natural resource investments with an focus on mining and mineral sector by providing investment, financing and advisory services to its investee companies, announces the conversion of fully vested Restricted Share Units ("RSU") under its 2021 Restricted Share Unit Scheme ("2021 RSU Scheme").
Conversion of Restricted Common Shares into Fully Tradeable Common Shares
The Company announces that it has received notices of conversion in respect of RSU's over 950,000 ordinary shares of 1.0p each in the Company at nil cost as follows:.
| Name of PDMR | Position | RSU's Converted and Ordinary Shares Issued | Price |
|---|---|---|---|
| Mark Brown | Chairman | 275,000 | Nil cost |
| Jacques Vaillancourt | CEO | 400,000 | Nil cost |
| Sean Keenan | NED | 275,000 | Nil cost |
| Total | 950,000 |
Resulting Insider Ordinary Share Ownership
The PDMR's ordinary share ownership after the conversion of RSU's will be as follows:
| Name of PDMR | # Ordinary Shares Held prior to RSU Conversion | Ordinary Shares Held in the Company after RSU Conversion | # Of RSU's Remaining O/S [1] | Total % Ownership of Company (RSU's & Shares) |
|---|---|---|---|---|
| Mark Brown (Chairman) | - | 275,000 | 100,000 | 0.9% |
| Jacques Vaillancourt (CEO) | 7,044,000 | 7,444,000 [2] | 700,000 | 20.4% |
| Sean Keenan (NED) | 100,000 | 375,000 | 100,000 | 1.2% |
Admission
Application has been made for 950,000 new ordinary shares each in the Company ("New Ordinary Shares") to be admitted to trading on AIM. The New Ordinary Shares will rank pari passu with the Company's existing ordinary shares and it is expected that admission will occur and dealings will commence at 8.00 a.m. on 5 February 2026.
Following the admission of the New Ordinary Shares, the Company's issued ordinary share capital will comprise 38,855,871 ordinary shares, none of which are held in treasury. Therefore, the total number of ordinary shares with voting rights following admission will be 38,855,871.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name: | Mark T. Brown |
| 2 | Reason for the notification | |
| a) | Position / status: | Non-Executive Chairman |
| b) | Initial notification /Amendment: | Initial |
| a) | Name: | Mineral and Financial Investments Limited |
| b) | LEI: | 213800XJN3E3OTYDCH82 |
| a) | Description of the financial instrument, type of instrument: | Ordinary shares |
| Identification code: | KYG6181G1055 | |
| b) | Nature of the transaction | Conversion of restricted stock units into ordinary shares |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| Nil cost | 275,000 | |
| d) | Aggregated information | |
| - Aggregated volume | N/A | |
| - Price | ||
| e) | Date of the transaction | 30 January 2026 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name: | Jacques Vaillancourt |
| 2 | Reason for the notification | |
| a) | Position / status: | President & CEO |
| b) | Initial notification /Amendment: | Initial |
| a) | Name: | Mineral and Financial Investments Limited |
| b) | LEI: | 213800XJN3E3OTYDCH82 |
| a) | Description of the financial instrument, type of instrument: | Ordinary shares |
| Identification code: | KYG6181G1055 | |
| b) | Nature of the transaction | Conversion of restricted stock units into ordinary shares |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| Nil cost | 400,000 | |
| d) | Aggregated information | |
| - Aggregated volume | N/A | |
| - Price | ||
| e) | Date of the transaction | 30 January 2026 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name: | Sean Keenan |
| 2 | Reason for the notification | |
| a) | Position / status: | Non-Executive Director |
| b) | Initial notification /Amendment: | Initial |
| a) | Name: | Mineral and Financial Investments Limited |
| b) | LEI: | 213800XJN3E3OTYDCH82 |
| a) | Description of the financial instrument, type of instrument: | Ordinary shares |
| Identification code: | KYG6181G1055 | |
| b) | Nature of the transaction | Conversion of restricted stock units into ordinary shares |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| Nil cost | 275,000 | |
| d) | Aggregated information | |
| - Aggregated volume | N/A | |
| - Price | ||
| e) | Date of the transaction | 30 January 2026 |
| f) | Place of the transaction | Outside a trading venue |
[1] These RSU's are not fully-vested
[2] Total shares, RSU's and shares held directly and indirectly by J. Vaillancourt via 100% ownership of Mount Everest Finance S.A.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.