Tungsten West Plc (AIM: TUN) has granted share options to executives under its long-term incentive plan, the company said on Tuesday.
The AIM-listed miner issued 5 million options to Chief Operating Officer Ronald Day at an exercise price of £0.01 per share. An additional 1.49 million options were granted to senior management, subject to performance conditions tied to commercial and operational production milestones, the company stated.
The Remuneration Committee will evaluate progress against key performance indicators before vesting. Options granted under the plan carry a 15-year term from the grant date and include acceleration provisions in the event of a change of control.
Shareholders approved the option grants and the company’s share issuance authorization at general meetings held on January 30 and February 26, 2026. The plan was implemented following the publication of circulars on January 14 and February 9, 2026, the company noted.
Tungsten West operates the Hemerdon tungsten and tin mine in Devon, United Kingdom, and the incentive program aims to align executive compensation with the company’s operational and financial performance targets.
