Management Share Options & Extension of Warrants
Management awarded share options; investor warrants extended by one year to November 2026.
- Directors' share options (at 0.7p exercise price) 8,571,429
- Senior team share options 15,714,286
- Directors' options as % of share capital 2.6%
- Investor warrants issued 200,000,000
- Potential funds from full warrant exercise £4,000,000
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Mila Resources Plc (LSE: MILA), the gold exploration company, announces that it has awarded the senior management team with share options to align with shareholders and in recognition of a cost cutting programme that impacted cash salaries across the team at the beginning of 2025.
Share Price
| Director | 0.7p | 1p | 2p |
| Mark Stephenson | 4,285,714 | 2,571,429 | 1,714,286 |
| Jonathan Evans | 4,285,714 | 2,571,429 | 1,714,286 |
| Total | 8,571,429 | 5,142,857 | 3,428,571 |
The share options vest on 24 June 2025 and expire on 24 June 2030. The Directors options package will amount to 2.6% of the share capital following the admission of placing shares that are expected to be admitted on 8 July 2025.
The Company has also awarded other senior members of its team with 15,714,286 options that that carry the same performance conditions as above.
The Company will be maintaining its current base cash salaries and will continue to incentivise its team in alignment with shareholders.
Extension of Investor Warrants
The Company issued 200,000,000 investor warrants on 9 November 2023 that were exercisable at 2p until 9 November 2025. The Company has agreed to extend the expiry of the warrants to 9 November 2026. If the warrants were exercised in full, the Company would be able to raise £4,000,000.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.