Metals Exploration plc has issued a total of 250,611,582 new ordinary shares following notices to exercise options and warrants of £0.0001 each in the company.
TVRs
The exercise notices include options over 229,600,000 new ordinary shares at an exercise price equal to nominal value under Metals’ long term incentive plan (LTIP), after all performance conditions were met.
Chief executive officer Darren Bowden received 180,000,000 LTIP shares and now holds 199,309,250 ordinary shares, equal to 6.83% of the enlarged share capital.
Further options over 11,122,524 new ordinary shares each at an exercise price of £0.0725 are under the Condor Gold plc employee share options scheme.
The warrants are for 9,889,058 new ordinary shares at an exercise price equal of £0.0605 each.
The options and warrants issued are a result of Metals’ acquisition of Condor Gold plc in January 2025.
On 30 May non-executive director Tim Livesey sold 2,500,000 ordinary shares to fund a tax liability from a previous options exercise, and now has 4,100,000 shares (0.14%).
Following admission, Metals will have 3,216,050,370 ordinary shares in issue, of which 299,385,458 ordinary shares are held in treasury.
The total number of voting rights is 2,916,664,912.
The majority shareholder in Metals remains Nick Candy with 653,000,000 ordinary shares, representing 22.39% of the enlarged share capital.
Drachs Investments No3 Ltd holds 465,565,701 shares (15.39%) and former Condor chairman Jim Mellon has 219,940,710 (7.54%).
Metals owns gold mining, development and exploration assets in Nicaragua and the Philippines.