ECR Minerals plc, a company focused on gold exploration and development in Australia, has extended its directors' salary sacrifice scheme and issued new ordinary shares in respect of the existing salary sacrifice scheme. The four members of the board of directors have agreed to subscribe for new ordinary shares in lieu of a portion of their salary, preserving the company's cash resources. The shares will be issued on or around 30 June 2024, with admission to trading commencing on or around 4 July 2024.
The company has confirmed the issuance and allotment of new ordinary shares awarded pursuant to the salary sacrifice. Each of the directors has received 3,333,333 new ordinary shares in lieu of an aggregate of £40,000 salary. The total ordinary shares in ECR Minerals currently held by the directors are detailed, and application has been made for the new ordinary shares to be admitted to trading on AIM, expected to become effective on or around 24 April 2024.
Nick Tulloch, Chairman of ECR Minerals, expressed gratitude for the board members' alignment with shareholders and their commitment to conserving the company's cash resources. The company's issued ordinary share capital will comprise 1,839,753,425 ordinary shares of 0.001p upon admission, representing the total voting rights in the company.
ECR Minerals is a mineral exploration and development company with wholly owned Australian subsidiaries, Mercator Gold Australia Pty Ltd and LUX Exploration Pty Ltd, holding various gold projects and exploration permits in Australia. The company continues to focus on its strategic direction and opportunities while conserving its cash resources.
For further information, interested parties can contact ECR Minerals plc or its appointed brokers.