Strategic Minerals plc has granted share options over a total of 88,675,000 new ordinary 0.1p shares to its directors, advisers and certain existing employees of its subsidiary Cornwall Resources Ltd.
DIRECTORS
The grant is for the “significant contributions to recent progress for the benefit of shareholders”, and is a long-term incentive to retain key personnel.
The five-year share options have an exercise price of 3.5 pence, representing a 33% premium to the 30-day volume weighted average price on 12 February 2026.
Executive chairman Charles Manners and executive director Mark Burnett each received 25 million share options, and now hold 75m and 95m options respectively.
Non-executive director Philip Haydn-Slater was granted 10m share options.
Strategic said that following the grant of share options, the company had a total of 233,675,000 share options in issue, representing 8.70% of its current issued share capital.
Cornwall Resources is progressing the Redmoor tungsten-tin-copper project in the east of the county.
