Issue of Share Options and Directors' Dealings
Share options issued to director and employees following maiden gold resource announcement at Mbe project.
- Maiden resource at MB01-S 870,000 oz at 1.09g/t gold
- Exploration target at MB01-N 370,000oz to 605,000oz gold
- Options issued to director and manager 12,000,000 at 0.35 pence exercise price
- Shadow options to Cameroon employees 6,000,000
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Oriole Resources (AIM: ORR), the AIM-quoted exploration company focused on Central and West Africa, provides details of share options issued to a Company Director and to a senior member of the management team, and shadow share options made to a selection of the Company's employees in Cameroon.
David Pelham, the Chairman of Oriole Resources' Remuneration Committee said:
"Following the successful completion of the initial exploration drilling programme over the Mbe gold project, which resulted in the announcement of a maiden resource of 870,000 ounces ("oz") at 1.09g/t gold at the MB01-S deposit, together with an exploration target of 370,000oz to 605,000oz of contained gold at the MB01-N target, the Remuneration Committee is pleased to award new share options to Claire Bay, Executive Director Exploration, and to the Company's Exploration Manager for Cameroon, in recognition of this achievement.
"We have also approved an award of shadow share options to our Cameroon employees as recognition for their contribution to the Company's success thus far, and to retain and incentivise the talent that we have as we continue to develop our portfolio in Cameroon."
Issue of Share Options
The Company has granted options to one of the Company's Directors and to one senior member of the management team for their exceptional work in achieving the maiden Mineral Resource Estimate at the Company's Mbe project.
The quantum of the awards has been determined by the Remuneration Committee.
In aggregate, the Company will issue 12,000,000 options (the "Options") to acquire ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") at an exercise price of 0.35 pence per share, being the closing mid-market price of the Company's Ordinary Shares as at close of business on 26 January 2026. The issue of the Options will utilise the Company's existing shareholder authority.
The Options will vest in the following tranches:
| Vesting Date | Number of options |
|---|---|
| Immediately | 4,000,000 |
| 1 January 2027 | 4,000,000 |
| 1 January 2028 | 4,000,000 |
The Options are not subject to performance conditions and will expire after ten years.
The awards include 9,000,000 options in respect of awards to Directors as set out below:
| T otal Options issued | Total unexercised options following issuance of the Options | Total unexercised warrants | No. of Ordinary Shares held | Ordinary Shares held as a % of issued share capital | |
|---|---|---|---|---|---|
| Claire Bay | 9 ,000,000 | 8 3 ,3 50 ,000 | 1 ,666,667 | 16,298,491 | 0.3 4 % |
Additionally, an award of 6,000,000 shadow share options under the Company's Cameroon employees' incentive scheme will be made in respect of those employees, who have worked hard to deliver successful exploration results on the Company's projects in Cameroon.
Further information on these dealings is included in the PDMR dealing notifications below.
For further information please visit www.orioleresources.com, @OrioleResources on Twitter,
or contact:
| Oriole Resources Plc | Tel: +44 (0)23 8065 1649 | |
| Martin Rosser / Bob Smeeton / Claire Bay | ||
| Strand Hanson Limited (Nomad & Broker) | Tel: +44 (0) 20 7409 3494 | |
| Christopher Raggett / James Spinney / Edward Foulkes | ||
| IFC Advisory Ltd (Financial IR & PR) | Tel: +44 (0)20 3934 6632 | |
| Tim Metcalfe / Graham Herring / Florence Staton | oriole@investor-focus.co.uk | |
| Annex | ||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Claire Bay |
| 2 | Reason for the notification | |
| a) | Position/status | Executive Director |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Oriole Resources PLC |
| b) | LEI | 213800X32GJR5AGAR511 |
| a) | Description of the financial instrument, type of instrument | Options over ordinary shares of 0.1 pence each in the capital of the Company |
| Identification code | Ordinary share ISIN: GB00B0T29327 | |
| b) | Nature of the transaction | Issue of Options |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| 0.35 | 9,000,000 | |
| d) | Aggregated information | |
| - Aggregated volume | N/A - single transaction | |
| - Price | ||
| e) | Date of the transaction | 26 January 2026 |
| 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.