RNS Number : 3729R
Beowulf Mining PLC
17 July 2025
17 July 2025
Beowulf Mining plc
("Beowulf" or the "Company")
Grant of Options
Beowulf (AIM: BEM; Spotlight: BEO) announces that the Board has approved the award of options granted under the Company's Long-Term Incentive Plan ("LTIP") to certain directors and senior management as follows:
Position
Number of Options awarded
Total number of Options held
Ed Bowie
Chief Executive Officer
800,000
1,800,000
Rasmus Blomqvist
Managing Director, Grafintec
320,000
790,000
Dmytro Siergieiev
Project Director, Jokkmokk Iron
320,000
440,000
Johan Röstin
Non-Executive Chairman
288,000
648,000
Chris Davies
Non-Executive Director
144,000
364,000
Mikael Schauman
Non-Executive Director
144,000
324,000
Other
Employees
256,000
591,000
The Company's LTIP was established on 8 July 2022, with advice from a leading independent consultancy specialising in the planning, design, and implementation of business-driven pay and reward strategies. The LTIP is designed to retain and incentivise key employees and Directors.
The options are exercisable at a price of 12 pence per share, vest over three years, in three equal proportions, a third on each subsequent anniversary of the date of grant and are valid for 10 years from the date of grant.
This award of options is for a total of 2,272,000 ordinary shares of 5 pence each in the capital of the Company, representing approximately 3.8 per cent of the existing issued share capital. Following the award of the options, there will be 5,442,000 ordinary shares of 5 pence each of the Company under option, representing 9.1 per cent of the existing issued share capital of the Company.
Enquiries:
Beowulf Mining plc
Ed Bowie, Chief Executive Officer ed.bowie@beowulfmining.com
SP Angel
(Nominated Adviser & Joint Broker)
Ewan Leggat / Stuart Gledhill / Adam Cowl Tel: +44 (0) 20 3470 0470
Alternative Resource Capital
(Joint Broker)
Alex Wood Tel: +44 (0) 20 7186 9004
BlytheRay
Tim Blythe / Megan Ray Tel: +44 (0) 20 7138 3204
Cautionary Statement
Statements and assumptions made in this document with respect to the Company's current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of Beowulf. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to , (i) changes in the economic, regulatory and political environments in the countries where Beowulf operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) Beowulf's continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) metal prices, particularly as regards iron ore. In the light of the many risks and uncertainties surrounding any mineral project at an early stage of its development, the actual results could differ materially from those presented and forecast in this document. Beowulf assumes no unconditional obligation to immediately update any such statements and/or forecast.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
1) Ed Bowie 2) Rasmus Blomqvist 3) Dmytro Siergieiev 4) Johan Rostin 5) Chris Davies 6) Mikael Schauman
2
Reason for the notification
a)
Position/status
1) CEO 2) Managing Director, Grafintec 3) Project Director, Jokkmokk Iron 4) Chairman 5) Non-Executive Director 6) 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
Beowulf Mining Plc
b)
LEI
213800MV3XGAOASPT433
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
ordinary shares of 5p each
Identification code
GB00BQ1LGQ19
b)
Nature of the transaction
Grant of options
c)
Price(s) and volume(s)
1
12p
800,000
2
12p
320,000
3
12p
320,000
4
12p
288,000
5
12p
144,000
6
12p
144,000
d)
Aggregated information
- Aggregated volume
Not Applicable
- Price
e)
Date of the transaction
17 July 2025
f)
Place of the transaction
London Stock Exchange / Spotlight
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