Incentives Plan, Options Grant, PDMR Dealing
Strategic Minerals establishes EMI share option plan, grants 145m options to executives and employees.
- Options granted 145 million shares
- Exercise price 0.4 pence per share
- Percentage of issued share capital approximately 6%
- Options to Mark Burnett 70 million shares
- Options to Charles Manners 50 million shares
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Strategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is pleased to announce the implementation of a new Enterprise Management Incentives share option plan (the "EMI Plan") to support the recruitment, retention and incentivisation of key employees while aligning goals with the creation of long term shareholder value and preserving cash in the short term.
Under the EMI Plan, the Company has today granted options over a total of 145 million new ordinary shares of £0.001 each in the Company at an exercise price of £0.004 per share (each, an "Option"), representing approximately 6% of the Company's issued share capital. To the extent not otherwise exercised, lapsed or surrendered, the Options will lapse on the tenth anniversary of grant, being 15 August 2035.
Each Option may only be exercised on satisfaction of the following conditions:
| Proportion of Option Shares | Date on which Option Shares become exercisable |
| 50% | Upon share price trading above 0.5p per share for 30-day VWAP |
| 50% | Upon publication of a new Mineral Resource Estimate |
The following grants have been made to persons discharging managerial responsibilities ("PDMRs"):
| Name | Position | Number of shares under Option (each, an "Option Share") | Exercise Price per Option Share |
|---|---|---|---|
| Mark Burnett | Executive Director | 70,000,000 | 0.4 pence |
| Charles Manners | Executive Chairman | 50,000,000 | 0.4 pence |
Grants over the balance (amounting to 25 million shares) shall also be made to two other qualifying employees under the EMI Plan.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | 1. Mark Burnett 2. Charles Manners | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | 1. Executive Director 2. Executive Chairman | ||||
| b) | Initial notification /Amendment | Initial Notification | ||||
| a) | Name | Strategic Minerals Plc | ||||
| b) | LEI | 213800DICA5NPVOJT776 | ||||
| a) | Description of the financial instrument, type of instrument | Options over new ordinary shares of £0.001 each in the Company | ||||
| Identification code | ISIN: GB00B4W8PD74 | |||||
| b) | Nature of the transaction | Grant of options over new ordinary shares of £0.001 each in the Company | ||||
| c) | Price(s) and volume(s) | |||||
| Price(s) | Volume(s) | |||||
| 1. 0.40 pence | 70,000,000 | |||||
| 2. 0.40 pence | 50,000,000 | |||||
| d) | Aggregated information | |||||
| - Aggregated volume | N/A single transaction as per 4 c) above. | |||||
| - Price | ||||||
| e) | Date of the transaction | 14 August 2025 | ||||
| f) | Place of the transaction | Off Market | ||||
| >0.45 <0.65 | 1.50 | 0.18 | 0.21 | 0.30 | 0.58 | 0.41 |
| >0.65 | 10.20 | 0.62 | 0.16 | 0.53 | 1.26 | 0.88 |
| Total Inferred Resource | 11.70 | 0.56 | 0.16 | 0.50 | 1.17 | 0.82 |
1 Equivalent metal calculation notes; Sn(Eq)% = Sn% x 1 + WO3% x 1.43 + Cu% x 0.40. WO3(EQ)% = Sn% x 0.7 + WO3 + Cu% x 0.28. Commodity price assumptions: WO3 US$ 33,000/t, Sn US$ 22,000/t, Cu US$ 7,000/t. Recovery assumptions: total WO3 recovery 72%, total Sn recovery 68% & total Cu recovery 85% and payability assumptions of 81%, 90% and 90% respectively
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.