LONDON - Rockfire Resources plc (LON: ROCK), a company engaged in the exploration of base metals, precious metals, and critical minerals, has granted options for 57,000,000 new ordinary shares to its directors. The options, issued at an exercise price of 0.32 pence per share, represent about 1.45% of the company’s issued share capital.
The options were granted on Monday last week and vested immediately. They will expire on December 19, 2027, if not exercised. The exercise price is calculated as double the mid-market closing price of 0.155 pence, plus an additional 0.01 pence, aligning with the terms of the directors’ service agreements.
The grants were distributed among five directors, with David Price, the Chief Executive Officer, and Gordon Hart, the Chairman, each receiving 15,000,000 options. Non-Executive Directors Ian Staunton, Nicholas Walley, and Patrick Elliott were each allocated 9,000,000 options.
Rockfire Resources, listed on the London Stock Exchange (LON:LSEG), holds several exploration projects, including the high-grade Molaoi zinc/lead/silver/germanium deposit in Greece and a portfolio in Queensland, Australia. The company’s Plateau deposit in Queensland is in a joint venture with Sunshine Metals Ltd (ASX:SHN), and the Copperhead porphyry deposit boasts resources including copper, molybdenum, and silver.
This move to grant share options comes as part of the company’s remuneration policy for its directors and is a routine practice within the industry. The transaction took place outside of a trading venue, and the information is based on a press release statement.
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