Overview of Share Options Granted#

Kazera Global plc has announced the granting of 135 million share options to its directors and management, pending approval from shareholders at a general meeting. This decision was made public through a press release.

Details of the Share Option Scheme#

The company has set aside a total of up to 150 million options under its EMI and Unapproved Share Option Scheme. These options are divided into three groups, each with different exercise prices:

  • First Tranche: 50 million options at £0.001, which can be exercised if the share price reaches 2 pence for 90 consecutive days. This price is 74% higher than the closing mid-market price of 1.15 pence on April 27.
  • Second Tranche: 25 million options at £0.025, representing a 163% premium, with a lifespan of two years.
  • Third Tranche: 60 million options at £0.035, a 268% premium, valid for three years.

Distribution of Options#

The distribution of these options includes significant allocations to key individuals: - Non-Executive Chairman Geoffrey Eyre received 33.75 million options. - Executive Director Johan Hattingh and Non-Executive Director Paul Dulieu each received 26.25 million options. - Other management members collectively received 48.75 million options.

Overall, these options account for approximately 13.6% of the company’s current issued share capital.

Fairness and Reasonableness#

This grant is classified as a related party transaction under AIM Rule 13. Independent directors Richard Jennings and John Wardle, after consulting with their nominated adviser, Strand Hanson Limited, have determined that the transaction is fair and reasonable for shareholders. Richard Jennings, who is also the Interim Chief Executive Officer, emphasized that these option awards reflect a commitment to aligning the interests of the board, the management team in South Africa, and the shareholders.

Kazera Global is primarily focused on investing in mining assets located in South Africa and Namibia.