Notification of transactions by Directors, Transfer of Treasury Shares and Total Voting Rights
LONDON, UNITED KINGDOM / ACCESS Newswire / March 31, 2025 / Ecora (LSE:ECOR)(TSX:ECOR)(OTCQX:ECRAF) announces that on 27 March 2025 the Company transferred 436,733 ordinary shares of 2 pence each in the Company ("Shares") out of treasury (the "Transfer"), to satisfy exercises of options by a number of employees, including Marc Bishop Lafleche, Chief Executive Officer and Kevin Flynn, Chief Financial Officer.
Mr. Bishop Lafleche and Mr. Flynn exercised 63,542 and 90,547 nil cost option awards (the "Awards") granted under the Company's Long Term Inventive Plan ("LTIP") on 27 March 2025, respectively. The Awards vested on 24 February 2025, following the assessment of the performance conditions which are disclosed in the 2024 Remuneration Report on pages 117 and 118 of the 2024 Annual Report and Accounts, available on the Company's website www.ecora-resources.com. Subsequently, Mr. Bishop Lafleche and Mr. Flynn sold 29,985 and 42,728 Shares, respectively, at an average approximate price of £0.599 per Share, to satisfy income tax associated with the Awards.
On 27 March 2025 awards of Shares were made under the Company's LTIP at nil cost, with Mr. Bishop Lafleche granted 1,319,818 Awards and Mr. Flynn granted 804,135 Awards as detailed below. A share price of £0.6431, being the 5-day volume weighted average price before grant as approved by the Company's Remuneration Committee, has been used to determine the number of Shares awarded.
The LTIP provides Directors with Shares awarded on a conditional basis as determined by the Remuneration Committee. These awards will vest in March 2028, subject to the satisfaction of performance conditions linked to total shareholder return, portfolio contribution and adjusted earnings per share as detailed on page 112 of the 2024 Annual Report and Accounts. Any vested Shares will then be subject to a further holding period of two years and will be released in March 2030.
Total Voting Rights
Following the above Transfer, the Company's issued capital consisted of 261,732,553 Shares, of which 12,697,887 Shares were held in treasury.
Therefore, the total number of voting rights in the Company is 249,034,666. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
These transactions took place on the London Stock Exchange.
Director Share Dealings - Further information
In accordance with Article 19 of the UK Market Abuse Regulation, the relevant FCA notification is set out below.
Details of the person discharging managerial responsibilities / person closely associated
Name
Mr. Marc Bishop Lafleche
Reason for the notification
Position/status
Chief Executive Officer of Ecora Resources PLC
Initial notification/Amendment
Initial Notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name
Ecora Resources PLC
LEI
213800LXSV317746JZ71
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the
Financial instrument, type of instrument
Identification code
2p Ordinary Shares
GB0006449366
Nature of the transaction
Exercise of options and sale of shares.
Award of Shares under the terms of the Ecora Resources PLC Long-Term Incentive Plan 2021. Subject to the satisfaction of performance conditions, the award will vest in March 2028; the Shares will then be subject to a further holding period of two years and will be released in March 2030.
Price(s) and volume(s)
Exercise of options - 27 March 2025
Price(s)
Volume(s)
Nil (exercise of options)
63,542
Sale of shares - 27 March 2025
Price(s)
Volume(s)
£0.5994
29,985
Grant of shares - 27 March 2025
Price(s)
Volume(s)
Nil (grant of options)
1,319,818
Aggregated information
Aggregated volume
Price
See above
Date of the transaction
27 March 2025
Place of the transaction
London Stock Exchange, Main Market (XLON)
Details of the person discharging managerial responsibilities / person closely associated
Name
Mr. Kevin Flynn
Reason for the notification
Position/status
Chief Financial Officer of Ecora Resources PLC
Initial notification/Amendment
Initial Notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name
Ecora Resources PLC
LEI
213800LXSV317746JZ71
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the
Financial instrument, type of instrument
Identification code
2p Ordinary Shares
GB0006449366
Nature of the transaction
Exercise of options and sale of shares
Award of Shares under the terms of the Ecora Resources PLC Long-Term Incentive Plan 2021. Subject to the satisfaction of performance conditions, the award will vest in March 2028; the Shares will then be subject to a further holding period of two years and will be released in March 2030.
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