LONDON - Anglesey Mining plc (AIM:AYM), a UK-based minerals development company, has announced the issuance of share options to its directors and employees under the existing Share Option Scheme. The options, which were granted today, have an exercise price of 1.2 pence each, indicating a 41% premium over the closing share price of 0.85p on Monday.
A total of 12.1 million options have been awarded, exercisable immediately and set to lapse on September 30, 2032. This marks the first such issuance since August 2022. Notably, the company’s non-executive directors have forgone cash fees since July 2014.
The distribution of options includes 3.3 million to Chairman Andrew King, 4.4 million to Chief Executive Rob Marsden, and 2.2 million to Non-Executive Director Douglas Hall. These options represent 0.681%, 0.908%, and 0.454% of the existing issued share capital, respectively.
After the grant, Anglesey Mining has a total of 21.9 million ordinary shares under option. The company, listed on the AIM market of the London Stock Exchange (LON:LSEG), is developing the Parys Mountain project in North Wales and holds interests in the Grängesberg iron project in Sweden and Labrador Iron Mines Holdings Limited.
The transactions for the award of share options were conducted outside a trading venue on Monday, according to the initial notification.
This development is based on a press release statement from Anglesey Mining plc. The company aims to incentivize and retain its directors and senior management through such compensation policies, aligning their interests with the progress of the company.
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