REG - Beowulf Mining PLC - Grant of Options

Beowulf MiningAnnouncement

17/07/2025 07:00

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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

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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