Ecora Resources PLC Announces Notification of Transactions by Directors

Rhea-AI Summary

Ecora Resources (OTCQX: ECRAF) has announced significant transactions involving company shares and executive compensation on March 27, 2025. The company transferred 436,733 treasury shares to satisfy employee stock options, including awards to CEO Marc Bishop Lafleche and CFO Kevin Flynn.

Key transactions include:

• CEO Lafleche exercised 63,542 nil cost options and sold 29,985 shares at £0.599/share for tax purposes
• CFO Flynn exercised 90,547 nil cost options and sold 42,728 shares at £0.599/share for tax purposes
• New LTIP awards granted: Lafleche received 1,319,818 shares and Flynn received 804,135 shares at £0.6431 per share

These new awards will vest in March 2028 subject to performance conditions and have a two-year holding period until March 2030. Following these transactions, Ecora's total voting rights stand at 249,034,666 shares.

Positive

• Executive management demonstrates alignment with shareholders through significant LTIP awards
• Structured long-term incentive plan with clear performance metrics and extended holding period

Negative

• Dilutive effect from transfer of 436,733 treasury shares
• Insider selling by both CEO and CFO for tax purposes

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.
	Price(s) and volume(s)	Exercise of options Price(s) Volume(s) Nil (exercise of options) 90,547 Sale of shares Price(s) Volume(s) £0.5994 42,728 Grant of shares Price(s) Volume(s) Nil (grant of options) 804,135
	Aggregated information Aggregated volume Price	See above
	Date of the transaction	27 March 2025
	Place of the transaction	London Stock Exchange, Main Market (XLON)

For further information:

Ecora Resources PLC	+44 (0) 20 3435 7400
Jason Gray - Company Secretary
Website:	www.ecora-resources.com
FTI Consulting	+44(0) 20 3727 1000
Sara Powell / Ben Brewerton / Nick Hennis	ecoraresources@fticonsulting.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Ecora Resources PLC

View the original press release on ACCESS Newswire

FAQ

What is the vesting schedule for ECRAF's new LTIP awards granted in March 2025?

The LTIP awards will vest in March 2028, subject to performance conditions, followed by a two-year holding period until March 2030.

How many shares did ECRAF's CEO and CFO sell for tax purposes in March 2025?

CEO Marc Bishop Lafleche sold 29,985 shares and CFO Kevin Flynn sold 42,728 shares at approximately £0.599 per share.

What is the current number of voting rights in ECRAF after the March 2025 treasury transfer?

Following the transfer, the total number of voting rights in Ecora Resources is 249,034,666 shares.

What performance conditions are attached to ECRAF's 2025 LTIP awards?

The awards are subject to performance conditions linked to total shareholder return, portfolio contribution, and adjusted earnings per share.