**Summary**
Andrada Mining Limited, a critical metals producer listed on the London Stock Exchanges AIM market, announced updates to its employee incentive schemes and equity issuances as of March 3, 2026. The company issued **18,595,768 Bonus Shares** under its Short-Term Incentive Plan (STIP) to executives and senior managers, replacing cash bonuses for FY2025 performance. Additionally, **54,854,811 nil-cost share awards** were granted under the Long-Term Incentive Plan (LTIP) and Employee Share Scheme (ESS), subject to performance metrics over three years. These awards aim to align employee and shareholder interests, incentivize performance, and retain key talent while preserving cash.
The company also **repriced 69% of historical share options** (66,380,269 options) to an exercise price of **5p** and extended their expiry to February 28, 2033, addressing sustained market challenges that rendered the original terms ineffective. This move aims to restore the motivational value of equity incentives for retention and long-term alignment.
Key highlights include
**STIP**18,595,768 shares issued based on a 58% performance score, with discretionary shares awarded to the CFO for exceptional performance.
**LTIP/ESS**41,258,963 shares to executives and 13,595,848 to critical employees, vesting over three years with TSR and ROCE conditions.
**Repricing**Options for directors and employees reset to 5p, with immediate vesting and extended expiry.
The changes were deemed fair by an independent director, and the Bonus Shares are expected to commence trading on AIM around March 9, 2026, increasing total voting rights to **1,972,577,300**. The moves reflect Andrada’s focus on strategic growth, talent retention, and shareholder value creation amid a challenging market environment.
| Year | Financial Metric | 2024 | 2025 | Change |
|---|---|---|---|---|
| Revenue | £X | £Y | Z% | |
| Debt | £A | £B | C% |