Award of share options

Xtract Resources plc

26 March 2026

 

For immediate release

26 March 2026

Xtract Resources Plc

                                                                        ("Xtract" or the "Company")                                                                       

Award of Share Options

The Board of Xtract announces that on 25 March 2026, the Company awarded 35,600,000 new options (representing 2.99 per cent. of the current issued share capital) to Directors and a further 44,100,000 new options (representing 3.71 per cent. of the current issued share capital) to employees, consultants and other officers of the Company.

The new options vest in three (3) tranches: (i) One-third vests immediately on award; (ii) one-third  vests upon the commencement of production at the Silverking Mine; and (iii) one-third vests on 1 November 2026. The new options have an exercise price of 1.40p per new Ordinary Share. The new options will lapse five years after the date of the award, being 25 March 2031. The exercise price represents a 55 per cent. premium to the mid-market closing price of 0.90p per Ordinary Shares as at 24 March 2025, and a 40 per cent. premium to the 30-day volume weighted average share price 1.00p for the 30 trading days ended 24 March 2026.  Further details of the new options awards are as follows:

Individual	Number of new options
Directors:
Colin Bird	23,000,000
Kjeld Thygesen	300,000
Alastair Ford	300,000
Joel Silberstein	12,000,000
Employees, consultants and other officers of the Company:
Other	44,100,000
Total	79,700,000

In making the new option awards, the Board considers that the management remuneration and incentives align with long-term shareholder value creation and provide commercial protections for the Company and its shareholders as a whole. In particular, the new option exercise price is set a significant premium to the current share price and vest over time and subject to the conditions described above, aligning the interests of the option holders with shareholders.

A copy of this announcement: www.xtractresources.com

Enquiries:

Xtract Resources Plc	Colin Bird, Executive Chairman	[phone] www.xtractresources.com
Beaumont Cornish Limited Nominated Adviser	Roland Cornish Michael Cornish Felicity Geidt	[phone] www.beaumontcornish.co.uk
AlbR Capital Limited Joint Broker	Jon Bellis Colin Rowbury	[phone] www.albrcapital.com

Shard Capital Partners LLP Joint Broker

Damon Heath

[phone] www.shardcapital.com

The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	1.    Colin Bird 2.    Joel Silberstein 3.    Kjeld Thygesen 4.    Alastair Ford
2	Reason for the notification
a)	Position/status	1. Chairman 2. Finance Director 3. Non-Executive Director 4  Non-Executive Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Xtract Resources plc
b)	LEI	213800A71LZ79EKUNC34
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	Options over Ordinary Shares of 0.02p each ("Ordinary Shares")
	Identification code	ISIN: GB00BYSX2795
b)	Nature of the transaction	Issue of Options over Ordinary Shares
c)	Price(s) and volume(s)		Director Price payable on exercise of option Volume(s)  Colin Bird P 1.40 23,000,000 Joel Silberstein   P 1.40 12,000,000 Kjeld Thygesen p 1.40 300,000 Alastair Ford p 1.40 300,000
d)	Aggregated information
	- Aggregated volume	35,600,000 options over Ordinary Shares
	- Price	1.40p
e)	Date of the transaction	25 March 2026
f)	Place of the transaction	Outside a trading venue

ENDS

 

END