Business
Repricing and Extension of Share Options
Repricing and Extension of Share Options.
About this update from Bradda Head Lithium Limited
[{"type":"text","content":"\n\n4 April 2025\n \nBradda Head Lithium Ltd\n(\"Bradda Head\", \"BHL\" or the \"Company\")\n \nRepricing and Extension of Share Options\nExtension of Share Warrants\n \nBradda Head Lithium Ltd (AIM:BHL), the North America-focused lithium development group, announces the repricing of 8,350,000 outstanding share options (\"Existing Options\"); such Existing Options representing 2.14% of the Company's current issued share capital.\n \nThe repricing applies to Existing Options previously granted to certain Directors and Management of the Company pursuant to the Company's share option plan, as follows:\n \n\n\n\n\n Name\n\n\nIssue date\n\n\nExisting Options exercise price\n\n\nNumber\n\n\n \n\n\n\n\nPromaco Limited*\n\n\nSep-21\n\n\n£0.090\n\n\n1,250,000\n\n\n \n\n\n\n\nPiotr Schabik\n\n\nSep-21\n\n\n£0.090\n\n\n250,000\n\n\n \n\n\n\n\nPromaco Limited*\n\n\nApr-22\n\n\n£0.180\n\n\n3,000,000\n\n\n \n\n\n\n\nAlex Borrelli\n\n\nDec-22\n\n\n£0.105\n\n\n500,000\n\n\n \n\n\n\n\nEuan Jenkins\n\n\nDec-22\n\n\n£0.105\n\n\n500,000\n\n\n \n\n\n\n\nPromaco Limited*\n\n\nApr-23\n\n\n£0.060\n\n\n1,000,000\n\n\n \n\n\n\n\nJoey Wilkins\n\n\nApr-23\n\n\n£0.060\n\n\n1,500,000\n\n\n \n\n\n\n\nPiotr Schabik\n\n\nApr-23\n\n\n£0.060\n\n\n250,000\n\n\n \n\n\n\n\nIan Christianson\n\n\nApr-23\n\n\n£0.060\n\n\n100,000\n\n\n \n\n\n\n\nTotal options\n\n\n \n\n\n \n\n\n8,350,000\n\n\n \n\n\n\n\n* Promaco Limited is a company owned by a trust of which Ian Stalker, Chair, is a beneficiary\n \nThe Existing Options will be repriced from various existing exercise prices of £0.06, £0.09, £0.105, and £0.18 per ordinary share to £0.015 (1.5 pence) per common share, being a premium of 30% to the closing share price on 2 April 2025 of £0.0115 (1.15 pence) and a premium of 7% to the 12 month VWAP. The repricing does not affect the Existing Options' current vesting schedules, if applicable, and does not extend the term of the Existing Options. The repricing is being taken in response to the current market challenges impacting the lithium sector, a resulting reduction in the Company's share price, and to better align with the recent share options granted to certain officers and directors at a price of £0.015 (1.5 pence). Whilst the Directors recognise the decline in...