Cadence Minerals plc has awarded an aggregate 21,280,000 share options to directors and persons discharging managerial responsibilities in the company.
PROJECTS
The options are exercisable at a six pence per share, which is a 10% premium to the closing mid-price of the ordinary shares on 5 May 2026 of 5.5p.
The options vest immediately and will expire on 31 December 2031.
The directors, who each received 5,320,000 share options, include non-executive chairman Andrew Suckling, chief executive officer Kiran Morzaria, finance director Donald Strang and non-executive director Adrian Fairbourn.
Cadence said that the share options represent in aggregate 4.97% of the existing issued share capital.
The company has 14,720,000 other options outstanding.
Cadence holds iron ore projects in Amapá State, northeast Brazil and lithium in Sonora, northwest Mexico, as well as an investment in gold exploration in Australia.