Metals Exploration plc has granted 12 million share options to two senior executives, under its long-term incentive plan.
TVRs
In August 2024, shareholders granted the company’s directors authority to issue up to 15% of the its issued capital as LTIP options.
The options have an exercise price of £0.0001 per ordinary share over a period of seven years from the date of issue.
Vesting conditions are subject to length of employment and performance conditions.
On 11 February 2026, Metals additionally issued 150,000 new ordinary shares of £0.0001 each, following notice of a warrant exercise, at a price of £0.0605 each.
Following admission, the company held 3,259,247,368 ordinary shares in issue, of which 299,385,458 ordinary shares are held in treasury.
The total number of voting rights is therefore 2,959,861,910.
Metals holds gold production, exploration and development interests in the Philippines and Nicaragua.