Business
Adoption of Long-Term Incentive Plan
Adoption of Long-Term Incentive Plan.
About this update from East Star Resources Plc
[{"type":"text","content":"\n \n \n 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.\n \n \n \n \n \n 1 March 2023\n \n \n \n East Star Resources Plc\n \n \n \n (\"East Star\" or the \"Company\")\n \n \n \n Adoption of Long-Term Incentive Plan\n \n \n \n \n Grant of Options\n \n \n \n East Star Resources Plc (LSE:EST), the Kazakhstan-focused minerals exploration company, announces that the Company's Remuneration Committee has approved the adoption of a long term incentive plan (\"LTIP\"). On the recommendation of the Remuneration Committee, the Company has granted an aggregate of 4,794,686 options over new ordinary shares in the Company to employees and non-executive directors of the Company (the \"Options\") to be approved by shareholders at the next Annual General Meeting.\n \n \n \n \n \n The Options will vest in three equal tranches on each of the first three anniversaries of the grant date (being 1 March 2023) and will expire on 28 February 2033. The exercise price of the Options is 4.3p and was calculated by a 30-day VWAP prior to the approval of the LTIP on 28 February 2023 and represents a 27.2 percent premium to the Company's closing share price on 28 February 2023.\n \n \n \n \n \n 2,898,551 of the Options have been granted to the Company's Chief Executive Officer, Alex Walker, and the notification below, provided in accordance with the UK MAR Regulation (as defined below), provides further details.\n \n \n \n \n \n 869,565 of the Options have been granted to the Company's non-executive directors and the notification below, provided in accordance with the UK MAR Regulation, provides further details.\n \n \n \n \n \n A further 1,026,570 Options have been granted to employees of the Company in Kazakhstan on the same terms as described above.\n \n \n \n \n \n It is East Star's objective to establish a strong sense of ownership in the Company's future by all its employees. The granting of the Options under the employee LTIP recognises the loyalty of employees to date as well as their achievements and the work ethic they have demonstrated since joining the Company.\n \n \n \...