GEO Exploration Limited (LSE:GEO) has amended a prior announcement regarding the number of shares issued to non-executive director Brian Chu and confirmed a comprehensive equity-based remuneration package for its board.
The company has allotted new ordinary shares to executive directors Omar Ahmad, Hamza Choudhry and Azib Khan, as well as to Chu, in place of certain cash fees. Management said the move supports its objective of preserving cash resources while aligning board compensation more closely with shareholder returns through equity participation.
In addition, the board has agreed to extend by three years the expiry date of warrants originally issued as part of its August 2023 placing. GEO has also granted 490 million new share options to directors, with vesting subject to a combination of share price performance targets and time-based conditions. Collectively, the measures materially increase directors’ potential fully diluted interests and are designed to encourage long-term value creation.
The company noted that equity-led incentive structures are common among smaller AIM-listed resource companies, particularly those at the exploration stage, where capital discipline and liquidity preservation remain priorities.
More about GEO Exploration Limited
GEO Exploration Limited is an AIM-listed natural resources company focused on early-stage exploration projects. Operating with the funding constraints typical of junior miners, the group relies significantly on equity-based remuneration and incentive mechanisms to retain leadership talent while directing available cash toward operational progress and strategic development.
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