Award of share options
Company awarded 25.56m share options to directors and employees with 1.35p exercise price.
- Options awarded to Directors 13,700,000
- Options awarded to employees, consultants and officers 11,860,000
- Exercise price per share 1.35p
- Exercise price premium to mid-market closing price 35%
- Exercise price premium to 30-day VWAP 42%
- Lapse date 7 May 2030
Select text to share a quote on X · sign in to keep highlights & notes in your XTR notes
The Board of Xtract announces that on 8 May 2025, the Company awarded 13,700,000 new options (representing 1.6 per cent. of the current issued share capital) to Directors and a further 11,860,000 new options (representing 1.38 per cent. of the current issued share capital) to employees, consultants and officers of the Company.
The new options vest and are exercisable immediately on award, with an exercise price of 1.35p per new Ordinary Share. The new options will lapse five years after the date of the award, being 7 May 2030. The exercise price represents a 35 per cent. premium to the mid-market closing price of 1.00p of the Ordinary Shares as at 8 May 2025, and a 42 per cent. premium to the 30-day volume weighted average share price for the 30 trading days ended 8 May 2025. Further details of the new options awards are as follows:
| Individual | Number of new options | |
|---|---|---|
| Directors: | ||
| Colin Bird | 9,000,000 | |
| Kjeld Thygesen | 350,000 | |
| Alastair Ford | 350,000 | |
| Joel Silberstein | 4,000,000 | |
| Employees: | ||
| Other | 11,860,000 | |
| Total | 25,560,000 | |
| A copy of this announcement: www.xtractresources.com | ||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | 1. Colin Bird 2. Joel Silberstein 3. Kjeld Thygesen 4. Alastair Ford |
| 2 | Reason for the notification | |
| a) | Position/status | 1. Chairman 2. Finance Director 3. Non-Executive Director 4 Non-Executive Director |
| b) | Initial notification /Amendment | Initial Notification |
| a) | Name | Xtract Resources plc |
| b) | LEI | 213800A71LZ79EKUNC34 |
| a) | Description of the financial instrument, type of instrument | Options over Ordinary Shares of 0.02p each ("Ordinary Shares") |
| Identification code | ISIN: GB00BYSX2795 | |
| b) | Nature of the transaction | Issue of Options over Ordinary Shares |
| c) | Price(s) and volume(s) | Director Price payable on exercise of option Volume(s) Colin Bird P 1.35 9,000,000 Joel Silberstein P 1.35 4,000,000 Kjeld Thygesen p 1.35 350,000 Alastair Ford p 1.35 350,000 |
| d) | Aggregated information | |
| - Aggregated volume | 13,700,000 options over Ordinary Shares | |
| - Price | 1.35p | |
| e) | Date of the transaction | 8 May 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.