Grant of Awards under Long Term Incentive Plan

Tungsten West PLC

25 August 2026

 

25 August 2026

Tungsten West Plc

("Tungsten West", the "Company" or the "Group")

Grant of Awards under Long Term Incentive Plan

Tungsten West (AIM:TUN), the mining company focused on restarting production at the Hemerdon tungsten and tin mine ("Hemerdon" or the "Project") in Devon, UK, announces that it has granted options (the "Awards") over ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") to Ronald Day, Chief Operating Officer, and other senior managers, pursuant to the Company's Long Term Incentive Plan (the "LTIP").

The Company's shareholders passed resolutions to grant options and/or allot and issue new Ordinary Shares pursuant to the LTIP at the General Meeting held on 30 January 2026, with further subsequent share authority resolutions passed  at the General Meeting held on 26 February 2026, and the LTIP has been implemented by the Board in line with the description provided in the circulars published on 14 January 2026 and 9 February 2026 respectively.

Details of the Awards granted to a Person Displaying Management Responsibility ("PDMR") are set out below:

PDMR	Number of total Awards granted under LTIP	Total Awards exercisable at 1p
Ronald Day (Chief Operating Officer)	5,000,000	5,000,000

Additionally, the Company has granted Awards over 1,494,685 shares to senior management.

The Awards issued are subject to certain performance conditions, including in relation to achieving key commercial production and/or operational milestones and other key performance indicators. The extent to which performance conditions have been satisfied will be determined by the Remuneration Committee.

The Awards will lapse by the fifteenth anniversary of the date of grant, unless they lapse earlier in accordance with their terms.

The option agreements also provide for the acceleration of vesting on a change of control, subject to the terms of the LTIP and the relevant option agreement.

Ends

For further information, please contact:

Tungsten West Jeff Court, Chief Executive Officer Phil Povey, Chief Financial Officer Tel: [phone]	Strand Hanson Limited (Nominated Adviser and Financial Adviser) James Spinney / James Dance / Abigail Wennington Tel: [phone]
BlytheRay (Financial PR) Megan Ray / Rachael Brooks Tel: [phone] Email:  [e-mail] PDMR Dealings Notification	Hannam & Partners (Broker) Andrew Chubb / Matt Hasson / Jay Ashfield Tel: [phone]

1	Details of the person discharging board responsibilities
a)	Name	Ronald Day
2	Reason for the notification
a)	Position/status	Chief Operating Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	TUNGSTEN WEST PLC
b)	LEI	213800QNV72HX3JAFC56
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Conditional options over ordinary shares granted under the Company's LTIP
	Identification code	GB00BP6QM557
b)	Nature of the transaction	Grant of conditional options under the Company's LTIP
c)	Price(s) and volume(s)	Price: 1 pence Volumes: 5,000,000
d)	Aggregated information
	- Aggregated volume	N/A - Single Transaction
	- Price
e)	Date of the transaction	23 August 2026
f)	Place of the transaction	Outside of a trading venue

 

END