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GEORGE TOWN, CAYMAN ISLANDS - Mineral and Financial Investments Limited (LSE-AIM:MAFL) has granted 1 million restricted share units (RSUs) to directors and employees and issued 350,000 new ordinary shares following an option exercise, according to a press release issued Wednesday.
The RSUs will have a five-year term and vest in three equal installments over a three-year period, with a reference price of 23.0 pence per share based on the August 12 share price. The company noted it has not granted any RSUs or options since 2022.
CEO Jacques Vaillancourt received 700,000 RSUs, while Chairman Mark Brown and non-executive directors Sean Keenan and James Lesser each received 100,000 RSUs.
Additionally, a consultant exercised options over 350,000 ordinary shares at an exercise price of 13.50 pence per share. The new shares are expected to be admitted to trading on AIM on August 21, bringing the company’s total issued ordinary share capital to 37,905,871 shares.
Mineral and Financial Investments is an AIM-quoted investment company focused on natural resources, particularly in the mining and mineral sector, providing investment, financing, and advisory services to its investee companies.
The RSUs function as a future claim to the underlying shares, allowing recipients to manage their personal finances accordingly, the company stated in its announcement.
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