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LONDON - Nativo Resources Plc (LON:NTVO), a company with gold mining interests in Peru, issued 5,544,118 share options and 1,230,120 warrants to its executive directors, according to a press release statement issued Monday.
The company granted Chief Executive Officer Stephen Birrell and Executive Chairman Christian Yates each 2,772,059 share options at an exercise price of £0.00480, representing the closing share price on June 13. These options will vest on June 16, 2028, and expire on June 16, 2030.
Additionally, both executives received 615,060 warrants each at an exercise price of £0.00432, which represents a 10% discount on the company’s closing share price from June 13. These warrants expire on June 16, 2028.
Nativo stated that the options form part of the directors’ remuneration package for performance during the year ended December 31, 2024, and will be awarded under the company’s EMI Share Option Scheme.
The company indicated that the warrants were issued as partial payment toward remuneration fees owed to the directors and to encourage share ownership. Shareholders granted authority to allot shares pursuant to these warrants at the General Meeting on May 16.
The transaction has been treated as a related party transaction under AIM Rule 13. Andrew Donovan, serving as the independent director, consulted with Zeus Capital, the company’s nominated adviser, and determined that the terms were fair and reasonable for shareholders.
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