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LONDON - Mila Resources Plc (LSE:MILA) has granted share options to its senior management team as part of an incentive program following salary cuts implemented in early 2025, according to a company press release issued Tuesday.
Directors Mark Stephenson and Jonathan Evans each received options at three different price points: 4,285,714 options at 0.7p, 2,571,429 options at 1p, and 1,714,286 options at 2p. The options vest immediately and will expire on June 24, 2030.
The directors’ options package represents 2.6% of the company’s share capital following the admission of placing shares expected on July 8, 2025.
Additional senior team members received a combined 15,714,286 options with the same performance conditions as the directors. The company stated it will maintain current base cash salaries while continuing to incentivize its team "in alignment with shareholders."
In a separate announcement, Mila Resources extended the expiry date of 200,000,000 investor warrants from November 9, 2025, to November 9, 2026. These warrants, originally issued on November 9, 2023, are exercisable at 2p and would raise £4,000,000 if fully exercised.
Mila Resources is a gold exploration company listed on the London Stock Exchange (LON:LSEG).
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