Grant of Options
Strategic Minerals plc has granted 88,675,000 new ordinary share options to employees, directors, and advisors, with an exercise price of 3.5 pence, representing a 33% premium to the 30-day volume weighted average price. These options, exercisable over five years with vesting after one and two years, are intended to incentivize and retain key personnel involved in the Redmoor Tungsten-Tin-Copper Project's development. Following this grant, the company has a total of 233,675,000 share options outstanding, representing 8.70% of its issued share capital.
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Strategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, announces it has granted share options over a total of 88,675,000 new ordinary 0.1p shares in the Company ("Share Options") in recognition of significant contributions to recent progress for the benefit of shareholders, and to support the long-term incentivisation and retention of key personnel as the Redmoor Tungsten-Tin-Copper Project ("Redmoor") advances towards development.
The Share Options have been granted to certain existing employees of Cornwall Resources Limited, the Company's wholly owned subsidiary, which is advancing Redmoor, and to Directors and advisers of the Company.
The Share Options have an exercise price of 3.5 pence, representing a 33% premium to the 30-day volume weighted average price preceding this announcement.
The Share Options have a term of 5 years and will vest in two tranches, with 50% becoming exercisable after one year from the date of grant and the remaining 50% after two years, provided each recipient remains an employee of the Company at the time of vesting.
Schedule of Share Options granted to Directors
| Director | Role | Date Of Grant | Number of Share Options Granted | Total Options Held |
|---|---|---|---|---|
| Charles Manners | Executive Chair | 12 February 2026 | 25,000,000 | 75,000,000 |
| Mark Burnett | Executive Director | 12 February 2026 | 25,000,000 | 95,000,000 |
| Philip Haydn-Slater | Non-Executive Director | 12 February 2026 | 10,000,000 | 10,000,000 |
Following the grant of Share Options there are a total of 233,675,000 share options in issue representing 8.70% of the current issued share capital of the Company.
| Director | Role | Date Of Grant | Number of Share Options Granted | Total Options Held | ||
|---|---|---|---|---|---|---|
| >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
PDMR Notification
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Mark Burnett |
| 2 | Reason for the notification | |
| a) | Position/status | Executive Director |
| 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 0.1 pence each in the Company |
| c) | Price(s) and volume(s) | Exercise price: 3.5 pence Volume: 25,000,000 |
| d) | Aggregated information | |
| - Aggregated volume | 25,000,000 Share Options | |
| - Price | Exercise price: 3.5 pence | |
| e) | Date of the transaction | 12 February 2026 |
| f) | Place of the transaction | Off Market |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Charles Manners |
| 2 | Reason for the notification | |
| a) | Position/status | Executive Chair |
| 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 0.1 pence each in the Company |
| c) | Price(s) and volume(s) | Exercise price: 3.5 pence Volume: 25,000,000 |
| d) | Aggregated information | |
| - Aggregated volume | 25,000,000 Share Options | |
| - Price | Exercise price: 3.5 pence | |
| e) | Date of the transaction | 12 February 2026 |
| f) | Place of the transaction | Off Market |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Philip Haydn-Slater |
| 2 | Reason for the notification | |
| a) | Position/status | Non-Executive Director |
| 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 0.1 pence each in the Company |
| c) | Price(s) and volume(s) | Exercise price: 3.5 pence Volume: 10,000,000 |
| d) | Aggregated information | |
| - Aggregated volume | 10,000,000 Share Options | |
| - Price | Exercise price: 3.5 pence | |
| e) | Date of the transaction | 12 February 2026 |
| f) | Place of the transaction | Off Market |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.