Nativo Resources plc issued 6,858,710 ordinary shares, to its executive chairman Christian Yates and chief executive officer Stephen Birrell, in lieu of salary owing.
TVRs
The shares issue, announced on 6 February, was at an agreed price of £0.005832 per new ordinary share, representing an 8% premium to the closing market price of the company’s shares on 3 February 2026.
Mr Yates subscribed for 2,572,016 ordinary shares for £15,000 salary owing, and now has an interest in 7,339,660 ordinary shares, equal to 1.17% of the issued share capital.
Mr Birrell subscribed for 4,286,694 ordinary shares for £25,000 salary owing, taking his interest to 12,080,357 ordinary shares (1.92%).
Both executive directors were also awarded share options under Nativo’s executive management incentive scheme.
On 4 February, Mr Birrell and Mr Yates each received 25,162,531 five-year options with an exercise price of £0.0054, vesting on 2 February 2031 and expiring two years later.
Following admission, the company’s issued ordinary share capital will comprise 635,922,000 ordinary shares, each with equal voting rights.
None of the shares is held in treasury.
Nativo holds gold exploration and development assets in Peru.