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LONDON - 80 Mile PLC (AIM:80M) announced Monday the establishment of an Employee Benefit Trust scheme designed to incentivize long-term commitment from its directors and employees without immediate tax implications.
The AIM, FSE, and OTC-listed exploration and development company plans to allocate up to 10% of its issued ordinary share capital to the trust. The scheme will be funded through company contributions or the issuance of new ordinary shares.
According to the press release statement, shares held in the trust will be released to participants upon meeting specific vesting and performance conditions linked to company milestones. All executive directors and employees of 80 Mile are eligible to participate.
The company stated that the EBT aims to align the interests of directors and employees with shareholders, incentivize long-term value creation through exploration and development success, and retain key talent in a competitive industry.
80 Mile’s current portfolio includes multiple projects in Greenland, focusing on base metals, precious metals, and industrial gas, along with a developing industrial gas and biofuels business in Italy. The company’s Disko-Nuussuaq nickel-copper-cobalt-PGE project and the Dundas Ilmenite Project represent key assets in its Greenland operations.
In June 2025, the company entered into an agreement to divest its Kangerluarsuk zinc-lead-silver project in Greenland to Amaroq Minerals Ltd. for US$500,000 in Amaroq shares upon completion, with an additional US$1,500,000 payable upon discovery of an economic deposit.
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