Issue of Share Options & Warrants
Nativo Resources issued 5.5m share options and 1.2m warrants to executive directors as remuneration.
- Share options granted to CEO 2,772,059
- Share options granted to Executive Chairman 2,772,059
- Warrants granted to CEO 615,060
- Warrants granted to Executive Chairman 615,060
- Exercise price per option £0.00480
- Exercise price per warrant £0.00432
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Nativo Resources plc (LON:NTVO), which has interests in gold mines in Peru, announces the issue of 5,544,118 share options (the "Options") and 1,230,120 warrants (the "Warrants") to the executive directors as set out below. The Options and Warrants are issued to the executive directors as part of their remuneration package, in efforts to conserve cash; and to further align the long-term interests of the Executive with shareholders.
Schedule of Directors Options
| DIRECTOR | ROLE | DATE OF GRANT | NO. OPTIONS GRANTED | EXERCISE PRICE * | VESTING DATE | EXPIRY DATE |
|---|---|---|---|---|---|---|
| Stephen Birrell | Chief Executive Officer | 16.06.2025 | 2,772,059 | £0.00480 | 16.06.2028 | 16.06 2030 |
| Christian Yates | Executive Chairman | 16.06.2025 | 2,772,059 | £0.00480 | 16.06.2028 | 16.06 2030 |
*Being the closing price of the Company's Ordinary Shares on 13 June 2025
The options awarded form part of the Directors' remuneration package for performance during the year ended 31 December 2024, and are to be awarded under the Company's EMI Share Option Scheme.
Schedule of Director Warrants
| DIRECTOR | ROLE | DATE OF GRANT | NO. WARRANTS ISSUED | EXERCISE PRICE* | EXPIRY DATE |
|---|---|---|---|---|---|
| Stephen Birrell | Chief Executive Officer | 16.06.2025 | 615,060 | £0.00432 | 16.06.2028 |
| Christian Yates | Executive Chairman | 16.06.2025 | 615,060 | £0.00432 | 16.06.2028 |
*The exercise price of the warrants is £0.00432, being a ten per cent discount on the Company's closing share price of 13 June 2025.
Authority to allot shares pursuant to warrants granted to Directors for unpaid salary or fees owing to them, or to incentivise share ownership, was granted by shareholders at the General Meeting on 16 May 2025. The Warrants are issued to the Directors in part payment towards remuneration fees owing to them and also to incentivise share ownership.
Related Party Transaction
The issue of Options and Warrants to Mr Birrell and Mr Yates have been treated as related party transactions under AIM Rule 13. As recipients of Options and Warrants, Mr Birrell and Mr Yates are not independent and have not taken part in the Board's consideration of the issue. Andrew Donovan is the independent director for this purpose. The independent director considers, having consulted with Zeus Capital, the Company's nominated adviser, that the terms of the issue of Options and Warrants to Mr Birrell and Mr Yates are fair and reasonable insofar as the Company's shareholders are concerned.
X: https://x.com/nativoresources
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Stephen Birrell |
| 2. | Reason for notification | |
| a) | Position/Status | Chief Executive Officer |
| b) | Initial notification/ Amendment | Initial notification |
| a) | Name | Nativo Resources Plc |
| b) | LEI | 2138006SNII7SKIGG445 |
| a) | Description of the financial instrument, type of instrument Identification Code | Options over Ordinary Shares Warrants over Ordinary Shares ISIN: GB00BRYPS729 |
| b) | Nature of the transaction | Issued with Options and Warrants over Ordinary Shares |
| c) | Price(s) and volume(s) | |
| Price | Volume | |
| £0.00480 per Option £0.00432 per Warrant | 2,772,059615,060 | |
| d) | Aggregated information - Aggregated Volume - Price | As above |
| e) | Date of the transaction | 16 June 2025 |
| f) | Place of the transaction | Outside a trading venue |
| 5. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Christian Yates |
| 6. | Reason for notification | |
| a) | Position/Status | Executive Chairman |
| b) | Initial notification/ Amendment | Initial notification |
| a) | Name | Nativo Resources plc |
| b) | LEI | 2138006SNII7SKIGG445 |
| a) | Description of the financial instrument, type of instrument Identification Code | Options and Warrants over Ordinary Shares ISIN: GB00BRYPS729 |
| b) | Nature of the transaction | Issue of Options and Warrants over Ordinary Shares |
| c) | Price(s) and volume(s) | |
| Price | Volume | |
| £0.00480 per share £0.00432 per Warrant | 2,772,059615,060 | |
| d) | Aggregated information - Aggregated Volume - Price | As above |
| e) | Date of the transaction | 16 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.