Share Option Award
Chairman granted 1.1 million stock options exercisable at 17.0p per share, vesting over 18 months.
- Options granted 1,104,933
- Exercise price $0.315 CAD (17.0p)
- Vesting period 18 months
- Option validity 10 years
- Total securities-based compensation outstanding 32,705,290 (10% of issued share capital)
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Suite 2900
Vancouver
BC V6C 0A3
Canada
SHARE OPTION AWARD
London / Vancouver: 9 June 2025 - Mkango Resources Ltd (AIM / TSX-V:MKA) (the "Company" or "Mkango"), announces that, subject to regulatory approval, Mkango has granted 1,104,933 stock options over 1,104,933 common shares of the Company ("Options") to Derek Linfield, Chairman of the Company, in accordance with the Company's existing Option Plan.
Each Option is exercisable for one common share of Mkango ("Mkango Shares"), with an exercise price of $0.315 CAD (approximately 17.0p using an exchange rate of 1.85 CAD:GBP) per common share, being the closing price of the Mkango Shares on the TSX-V on 6 June 2025. The Options will vest over the next 18 months and are valid for a period of ten years from the date of the grant.
These Options are being granted to Mr Linfield as he is now eligible to receive options following the forfeiture of 1,250,000 options on 10 May 2024, which were reallocated to management of the Company in the form of restricted share units as part of the management's agreement to receive a portion of their salary in shares. That forfeiture was in accordance with Toronto Venture Exchange policy, which stipulates a 12-month cooling-off period after forfeiture before new options may be granted. This grant reflects Mr Linfield's ongoing contribution as Chairman. The award has been reviewed and approved by the Company's Remuneration Committee.
Following the issue of Options and referred to above, the total number of common shares issuable pursuant to the Company's securities-based compensation plans is 32,705,290, representing 10 per cent of the Company's total issued share capital.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Derek Linfield |
| 2 | Reason for the notification | |
| a) | Position/status | Chairman |
| b) | Initial notification /Amendment | Initial Notification |
| a) | Name | Mkango Resources Ltd |
| b) | LEI | 213800RPILRWRUYNTS85 |
| a) | Description of the financial instrument, type of instrument | Proposed New Options |
| Identification code | ISIN: CA60686A4090 | |
| b) | Nature of the transaction | Issue of Common Shares in connection with a Private Placement |
| c) | Price(s) and volume(s) | Price(s) Volume(s) CAD 0.315 1,104 ,933 |
| d) | Aggregated information - Aggregated volume - Price | Price(s) Volume(s) CAD 0.315 1,104 ,933 |
| e) | Date of the transaction | 9 June 2025 |
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.