REG - 80 Mile PLC - EBT Scheme – Milestones and Criteria

80 MileAnnouncement

26/08/2025 11:45

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RNS Number : 7017W  80 Mile PLC  26 August 2025

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
(https://www.80mile.com/regulatory-news/83108) and 4 August 2025
(https://www.80mile.com/regulatory-news/83189) .
(https://www.80mile.com/regulatory-news/83189)
(https://www.80mile.com/regulatory-news/83189)

 

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
(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

(Nominated Adviser and Broker)
 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

(Media Contact)

                                                                                        80mile@blytheray.com (mailto:80mile@blytheray.com)

 

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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