Helium One Global Ltd (LON:HE1) has announced the award of management stock options.
The board of Helium One recognises the exceptional performance of members of the management and executive team in delivering the drilling programme on schedule. To additionally incentivise management towards ensuring financial discipline in successful exploration, the board has resolved to issue 15,500,000 options to acquire ordinary shares at a strike price of 22p to management and board members.
Options for management and executive directors, are subject to performance related vesting conditions being; completion of the 3 well drilling programme within budget, and on time, and a successful flow of helium bearing gas to surface from any of the 3 wells.
All directors’ options vest over a two year period in three equal tranches being; ⅓ after 4 December 2021, ⅓ 12 months from the date of grant, and ⅓ 24 months from the date of grant
Executive and Non-executive Directors included in the award are detailed in the table below:
|Director||Current Options Held||New Options awarded||Total Options Held|
|Ian Stalker (Chair)||5,000,000||1,000,000||6,000,000|
|David Minchin (CEO)||15,000,000||3,000,000||18,000,000|
|Robin Birchall (NED)||4,000,000||500,000||4,500,000|
|Russel Swarts (FD)||1,500,000||500,000||2,000,000|
|Sarah Cope (NED)||3,000,000||3,000,000|
|James Smith (NED)||3,000,000||3,000,000|
The total number of Options and Warrants in the Company is now 71,554,090, representing 11.65% of the Company’s issued share capital.
For further information please visit the Company’s website: www.helium-one.com