ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, announces the issue of new ordinary shares of 0.001 pence each in ECR (the “Ordinary Shares”) in respect of the board of directors of ECR’s (the “Board” or the Directors”) ongoing remuneration policy, whereby each Director and certain advisers to the Company are remunerated predominantly through the issue of new Ordinary Shares.
Nick Tulloch, Chairman, will receive 14,218,009 new Ordinary Shares, as payment in lieu of £30,000 of his accrued remuneration for the period from 1 April 2026 to 30 June 2026. Andrew Scott, Non-Executive Director, will receive 6,516,587 new Ordinary Shares, as payment in lieu of £13,750 of his accrued remuneration for the same period. Mike Parker, Non-Executive Director, will receive 4,857,819 new Ordinary Shares, as payment in lieu of £10,250 of his accrued remuneration for the same period. Chris Gibbs, Non-Executive Director, will receive 2,843,601 new Ordinary Shares, as payment in lieu of £6,000 of his accrued remuneration for the same period.
Certain consultants and professional advisers will receive in aggregate 4,302,583 new Ordinary Shares, as payment in lieu of an aggregate of approximately £9,078 of their accrued remuneration and fees for the period from 1 April 2026 to 30 June 2026.
All of the new Ordinary Shares are to be issued at a price of 0.211 pence per new Ordinary Share, which was the volume weighted average share price for Ordinary Shares over the previous 14 days to 30 June 2026.
In line with the Directors Remuneration Report outlined in the Company’s annual report and accounts for the year ended 30 September 2025, ECR has also granted options (“Options”) to Chris Gibbs, Non-Executive Director, to subscribe for 5,456,065 new Ordinary Shares as payment in lieu of £7,750 of his accrued consultancy fees for providing management services for ECR’s Australian operations during the same period. Each Option may be exercised at 0.211 pence per new Ordinary Share over 5 years from the date of grant.
In addition to the above, ECR has issued 25,000,000 new Ordinary Shares to Slievemara Consulting Limited, the intermediary who introduced the Company to Paleogold Limited (now renamed ECR Minerals (Paleogold) Ltd) prior to the acquisition which was announced on 20 April 2026. Those new Ordinary Shares are to be issued at a price of 0.26 pence per new Ordinary Share, which was the price at which consideration shares were issued for that transaction.
PDMR dealings
Pursuant to the arrangements set out above, a total of 57,738,599 new Ordinary Shares will be issued by the Company. Following this issuance, the total numbers of Ordinary Shares that will be held following Admission (as defined below) by the Directors, as Persons Discharging Managerial Responsibility (“PDMRs”) of the Company as at the date of this announcement, are as follows:
|
Name |
New Ordinary Shares to be issued |
Total Ordinary Shares held in the Company following Admission |
As a percentage of the Company’s enlarged issued ordinary share capital following Admission |
Options held in the Company |
|
Nick Tulloch |
14,218,009 |
112,213,086 |
3.12% |
70,000,000 |
|
Andrew Scott |
6,516,587 |
41,654,989 |
1.16% |
40,000,000 |
|
Mike Parker |
4,857,819 |
20,958,362 |
0.58% |
– |
|
Chris Gibbs |
2,843,601 |
8,147,383 |
0.23% |
8,408,126 |
|
Total |
28,436,016 |
The FCA notification in respect of these PDMR dealings and grant of Options, made in accordance with the requirements of the UK Market Abuse Regulation, is appended further below.
Admission and Total Voting Rights
Application will be made for 57,738,599 new Ordinary Shares to be admitted to trading on AIM (“Admission”) and it is expected that Admission will become effective on or around 20 July 2026. The 57,738,599 new Ordinary Shares will rank pari passu with the existing Ordinary Shares. Upon Admission, ECR’s issued ordinary share capital will comprise 3,601,490,394 Ordinary Shares. This number will represent the total voting rights in the Company, and, following Admission may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
FOR FURTHER INFORMATION, PLEASE CONTACT:
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ECR Minerals plc |
Tel: +44 (0) 20 8080 8176 |
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Nick Tulloch, Chairman Andrew Scott, Director |
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Website: www.ecrminerals.com |
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Allenby Capital Limited |
Tel: +44 (0) 3328 5656 |
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Nominated Adviser and Joint Broker Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking) |
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OAK Securities Joint Broker Jerry Keen / Robert Bell
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Tel: +44 (0) 3328 5656 |
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Axis Capital Markets Limited |
Tel: +44 (0) 203 026 0320 |
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Joint Broker |
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Lewis Jones |
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SI Capital Ltd |
Tel: +44 (0) 1483 413500 |
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Joint Broker |
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Nick Emerson |
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Brand Communications |
Tel: +44 (0) 7976 431608 |
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Public & Investor Relations |
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Alan Green |