EBT Scheme – Milestones and Criteria
Summary by AI BETAClose X
26 August 2025
EBT Scheme - Milestones and Criteria
80 Mile PLC ('80 Mile' or the 'Company'), the AIM, FSE, and OTC listed exploration and development Company, is pleased to provide an update on the specific milestones and criteria required for directors and employees of the Company to qualify for awards under the recently established Employee Benefit Trust ("EBT"). This follows announcements made on 28 July 2025 and 4 August 2025.
Eligibility and Allocation Framework
Participants in the EBT scheme are directors and employees of the Company. The allocation will be subject to a number of criteria, including role and responsibility, contribution to strategic goals, and market benchmarking. In addition, the Board retains discretion to allocate EBT shares for extraordinary effort as it sees fit.
Milestones
The award of EBT shares will be linked to the Company's share price performance and as a result its market capitalisation valuations in the first instance, with exploration and project specific milestones to be subsequently agreed pending project development. The milestones related to market capitalisation:
1. Market capitalisation exceeds £15 million (undiluted)
2. Market capitalisation exceeds £20 million (undiluted)
3. Market capitalisation exceeds £25 million (undiluted)
4. Market capitalisation exceeds £40 million (undiluted)
Performance Measurement and Vesting
The performance period is over the course of 12 months, from July to June. The vesting conditions are linked to market capitalisation valuations, as outlined above.
The Remuneration Committee will evaluate the milestone achievements to ensure full compliance with the Company's governance policies.
Governance and Compliance
The design and implementation of the EBT will be overseen by the independent Remuneration Committee. Award details and performance outcomes will be disclosed in annual reports, ensuring full transparency.
The EBT scheme is structured to comply with UK tax laws and AIM regulations.
Objectives
The EBT has been established in order to:
· Align the interests of directors and employees with shareholders.
· Incentivise long-term value creation through exploration and development success.
· Retain and motivate key talent in a competitive industry.
· Ensure compliance with AIM regulations and good corporate governance.
For further information please visit http://www.80mile.com or contact:
|
Eric Sondergaard |
80 Mile plc |
enquiry@80mile.com |
|
Ewan Leggat / Devik Mehta |
SP Angel Corporate Finance LLP |
+44 (0) 20 3470 0470 |
|
Harry Ansell / Katy Mitchell / Andrew de Andrade |
Zeus Capital Limited (Joint Broker) |
+44 (0) 20 3829 5000 |
|
Megan Ray / Said Izagaren |
BlytheRay |
+44 (0) 20 7138 3204 |
About 80 Mile Plc:
80 Mile Plc, listed on the London AIM market, Frankfurt Stock Exchange, and the U.S. OTC Market under the ticker BLLYF, is an exploration and development company focused on high-grade critical metals in Tier 1 jurisdictions. With multiple projects in Greenland, as well as a developing industrial gas and biofuels business in Italy, 80 Mile offers both portfolio and commodity diversification focused on base metals, precious metals, and industrial gas while expanding into sustainable fuels and clean energy solutions in Tier 1 jurisdictions. 80 Mile's strategy is centred on advancing key projects while creating value through partnerships and strategic acquisitions.
80 Mile's recent acquisition of White Flame Energy and the Jameson licenses expands its portfolio into the energy and gas sector, adding large-scale licenses for industrial gas, natural gas, and liquids in East Greenland. Approved by shareholders in July 2024, this acquisition diversifies the Company's assets and aligns with its strategy to contribute to sustainable energy solutions, while also exploring conventional energy resources.
The Disko-Nuussuaq nickel-copper-cobalt-PGE project in Greenland is a primary focus for 80 Mile, 100% owned by 80 Mile PLC. Seven priority targets exhibiting spatial characteristics indicative of potential deposits on a scale comparable to renowned mining operations such as Norilsk, Voisey's Bay, and Jinchuan, will be advanced by the Company.
The Dundas Ilmenite Project, 80 Mile's most advanced asset in northwest Greenland, is fully with a JORC-compliant Mineral Resource of 117 Mt at 6.1% ilmenite and an offshore Exploration Target of up to 530 Mt. Dundas is poised to become a major supplier of high-quality ilmenite. Recent discoveries of hard rock titanium mineralization, with bedrock samples showing nearly double the ilmenite content of previous estimates, further enhance the project's world-class potential. 80 Mile owns 100% of the Dundas Ilmenite Project under its subsidiary Dundas Titanium A/S in Greenland.
In June 2025, 80 Mile entered into a definitive agreement to divest its 100% interest in the Kangerluarsuk zinc-lead-silver project in Greenland to Amaroq Minerals Ltd. Under the terms of the agreement, 80 Mile will receive US$500,000 in Amaroq Minerals shares upon completion, and US$1,500,000 in cash or shares upon the discovery of an economic deposit, as defined by a JORC or NI 43-101 compliant resource that supports development.
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