REG - Cobra Resources PLC - Establishment of Employee Benefit Trust

Cobra ResourcesAnnouncement

14/01/2026 15:15

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RNS Number : 9308O  Cobra Resources PLC  14 January 2026

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET
ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK
MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

 

14 January 2026

 

Cobra Resources plc

("Cobra" or the "Company")

 

Establishment of Employee Benefit Trust

 

Cobra (https://cobraplc.com/) (LSE: COBR)
(https://www.londonstockexchange.com/stock/COBR/cobra-resources-plc/company-page)
, a South Australian mineral exploration and development company, announces it
will establish an employee benefit trust ("EBT") for the implementation of a
proposed Performance Rights framework for executive directors and senior
management, subject to final documentation.  The EBT is intended to align
remuneration outcomes with long-term shareholder value creation.

 

Pursuant to the EBT, over a period of five years, the Board proposes the issue
of 38,500,000 Performance Rights as detailed below. Assuming all Performance
Rights vest and convert into ordinary shares, this would represent
approximately 4.1% of the Company's current issued ordinary share capital of
932,342,594 ordinary shares. The Board confirms that this level of potential
dilution is considered appropriate and consistent with market practice for
UK-listed companies of comparable size and stage. The EBT will acquire shares
to cover the awards made (which may be market acquisitions or subscriptions
funded by loans from the Company).

The Performance Rights framework includes:

 

 Position                 Timeframe     Vesting Conditions                         No. of Performance Rights
 Chief Executive Officer  Year 1        > 4.0 pence                                7,500,000
                          Year 2        ≥ 7.5 pence                                5,000,000
                          Year 3        ≥ 10 pence                                 5,000,000
                          Year 4        ≥ 30 pence                                 5,000,000
                          Year 5        ≥ 60 pence                                 7,500,000
 Senior Management        Over 3 years  To be aligned with operational milestones  5,000,000
 Total                                                                             35,000,000

 

Chief Executive Officer Performance Rights

As set out above, on the recommendation of the renumeration committee, the
Board has approved an indicative allocation of 30,000,000 performance shares
to the Chief Executive Officer over a five year period. Year one rights are
issued in recognition of the Boland discovery success and the recent growth of
the Company. Unvested Performance Rights will lapse if the relevant
performance hurdle is not achieved within the applicable vesting period.

 

Senior Management Performance Rights

As set out above, a further pool of up to 5,000,000 Performance Rights is
proposed to be made available to senior management over the next three years,
with individual allocations and vesting conditions to be determined by the
Board.

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Rupert Verco
 2   Reason for Notification
 a)  Position/status                                              Chief Executive Officer, PDMR
 b)  Initial notification/amendment                               Initial notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Cobra Resources plc
 b)  LEI                                                          213800XTW5PLLK72TQ57
 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
     Identification code                                          GB00BGJW5255
 b)  Nature of the transaction                                    Performance Rights
 c)  Price(s) and volume(s)                                       Price   Volume
                                                                  £0.04   7,500,000

                                                                  0.075   5,000,000

                                                                  0.10    5,000,000

                                                                  0.30    5,000,000

                                                                  0.60    7,500,000

 d)  Aggregated information
     - Aggregated volume                                          30,000,000
     - Price                                                      N/A
 e)  Date of the transaction                                      14 January 2026
 f)  Place of the transaction                                     Off Market

d)

Aggregated information

- Aggregated volume

30,000,000

- Price

N/A

e)

Date of the transaction

14 January 2026

f)

Place of the transaction

Off Market

 

 

Enquiries:

 

 Cobra Resources plc                           via Vigo Consulting

 Rupert Verco (Australia)                      +44 (0)20 7390 0234

 Dan Maling (UK)

 SI Capital Limited (Joint Broker)             +44 (0)1483 413 500

 Nick Emerson

 Sam Lomanto

 Global Investment Strategy (Joint Broker)     +44 (0)20 7048 9437

 James Sheehan                                 james.sheehan@gisukltd.com
 Vigo Consulting (Financial Public Relations)  +44 (0)20 7390 0234

 Ben Simons                                    cobra@vigoconsulting.com

 Fiona Hetherington

 

The person who arranged for the release of this announcement was Greg Hancock,
Chairman of the Company.

 

 

About Cobra

 

Cobra Resources is a South Australian critical minerals developer, advancing
assets at all stages of the pre-production pathway.

 

In 2023, Cobra identified the Boland ionic rare earth discovery at its Wudinna
Project in the Gawler Craton - Australia's only rare earth project suitable
for in situ recovery (ISR) mining. ISR is a low-cost, low-disturbance
extraction method that eliminates the need for excavation, positioning Boland
to achieve bottom-quartile recovery costs.

 

In 2025, Cobra further expanded its portfolio by optioning the Manna Hill
Copper Project in the Nackara Arc, South Australia. The project contains
multiple underexplored prospects with strong potential to deliver large-scale
copper discoveries.

 

In 2025, Cobra sold its Wudinna Gold Assets to Barton Gold (ASX: BDG) for up
to A$15 million in cash and shares.

 

Regional map showing Cobra's tenements in South Australia

 

 

 

Follow us on social media:

 

LinkedIn: https://www.linkedin.com/company/cobraresourcesplc
(https://www.linkedin.com/company/cobraresourcesplc)

X: https://twitter.com/Cobra_Resources (https://twitter.com/Cobra_Resources)

 

Engage with us by asking questions, watching video summaries and seeing what
other shareholders have to say. Navigate to our Interactive Investor hub here:
https://investors.cobraplc.com/ (https://investors.cobraplc.com/)

 

Subscribe to our news alert service:
https://investors.cobraplc.com/auth/signup
(https://investors.cobraplc.com/auth/signup)

 

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