Notification of transactions by Directors Announces Notification of transactions by Directors

Rhea-AI Summary

Ecora Resources PLC recently announced the awarding of Ordinary Shares under its Long Term Incentive Plan (LTIP) to directors at no cost. These awards were granted on February 24, 2023, based on a share price of £1.3705, the 5-day volume-weighted average prior to the grant. The awards will vest on February 24, 2026, contingent on performance conditions related to total shareholder return, portfolio contributions, and adjusted earnings per share. There is a subsequent two-year holding period before the shares are released on February 24, 2028.

Positive

• Directors received shares under the LTIP, aligning their interests with shareholders.
• The LTIP performance conditions could foster increased shareholder return.

Negative

• None.

Notification of transactions by Directors

LONDON, UK / ACCESSWIRE / February 27, 2023 / Ecora Resources PLC ("Ecora" or the "Company") (LSE:ECOR)(TSX:ECOR) announces that awards of Ordinary Shares ("Shares") were made under the Company's Long Term Incentive Plan ("LTIP") at nil cost on 24 February 2023 to Directors as detailed below. A share price of £1.3705, 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 on 24 February 2026, subject to the satisfaction of performance conditions linked to total shareholder return, portfolio contribution and adjusted earnings per share. The vested Shares will then be subject to a further holding period of two years and will be released on 24 February 2028.

Director Share Dealings - Further information

The notifications below, made in accordance with the requirements of the UK version of the Market Abuse Regulation (596/2014/EU)^[1], provides further detail in respect of the transactions as described at the beginning of this announcement.

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Mr. Marc Bishop Lafleche
2.	Reason for the notification
a.	Position/status	Chief Executive Officer of Ecora Resources PLC
b.	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Ecora Resources PLC
b.	LEI	213800LXSV317746JZ71
4.	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
a.	Description of the Financial instrument, type of instrument Identification code	2p Ordinary Shares GB0006449366
b.	Nature of the transaction	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 on 24 February 2026; the Shares will then be subject to a further holding period of two years and will be released on 24 February 2028.
c.	Price(s) and volume(s)	Price(s) Volume(s) 0.00p 456,402
d.	Aggregated information · Aggregated volume · Price	456,402 0.00p
e.	Date of the transaction	24 February 2023
f.	Place of the transaction	London Stock Exchange, Main Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Mr. Kevin Flynn
2.	Reason for the notification
a.	Position/status	Chief Financial Officer of Ecora Resources PLC
b.	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Ecora Resources PLC
b.	LEI	213800LXSV317746JZ71
4.	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
a.	Description of the Financial instrument, type of instrument Identification code	2p Ordinary Shares GB0006449366
b.	Nature of the transaction	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 on 24 February 2026; the Shares will then be subject to a further holding period of two years and will be released on 24 February 2028.
c.	Price(s) and volume(s)	Price(s) Volume(s) 0.00p 296,424
d.	Aggregated information · Aggregated volume · Price	296,424 0.00p
e.	Date of the transaction	24 February 2023
f.	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
Camarco Gordon Poole / Owen Roberts / Elfie Kent	+44 (0) 20 3757 4997
Website:	www.ecora-resources.com

^[1]This is part of UK law by virtue of the European Union Withdrawal Act 2018.

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

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FAQ

What did Ecora Resources PLC announce on February 27, 2023?

Ecora Resources PLC announced the grant of Ordinary Shares to directors under its Long Term Incentive Plan on February 24, 2023.

What is the vesting period for the shares awarded to directors at Ecora Resources PLC?

The shares awarded will vest on February 24, 2026, subject to performance conditions.

What is the significance of the performance conditions in Ecora Resources PLC's LTIP?

The performance conditions are linked to total shareholder return, portfolio contribution, and adjusted earnings per share, aimed at enhancing shareholder value.

When will the shares awarded under the LTIP at Ecora Resources PLC be released?

The shares will be released on February 24, 2028, after a two-year holding period post-vesting.

What share price was used for the awards in Ecora Resources PLC's LTIP?

The share price of £1.3705, being the 5-day volume weighted average price before the grant, was used for the awards.