Mendell Helium PLC (MDH), the AIM-listed helium production company operating in Kansas, USA, has announced the issue of 1,100,619 new ordinary shares to its chief executive, chief technical officer, and professional advisers as part of its share-based remuneration arrangements. The shares are priced at 4.287 pence each, representing the volume weighted average price over the 14-day period ended 30 September 2026. Admission to AIM is expected at 8:00 am on or around 16 November 2026, following which the company's total issued share capital will stand at 359,031,556 ordinary shares.

Key Points

  • Mendell Helium PLC (MDH) — AIM-listed helium producer operating through wholly owned subsidiary M3 Helium in Kansas, USA
  • 1,100,619 new ordinary shares to be issued to CEO Nick Tulloch, CTO Paul Mendell, and professional advisers in lieu of accrued remuneration and fees
  • Shares priced at 4.287 pence each; admission to AIM expected on or around 16 November 2026
  • Investors should watch for further operational updates from Rost 2-26, which has recorded a helium composition of 11.5%

CEO and CTO Receive Shares in Lieu of Cash Remuneration for Period to 30 September 2026

Chief Executive Officer Nick Tulloch will receive 699,790 new ordinary shares in respect of £30,000 of accrued remuneration covering the period from 1 July 2026 to 30 September 2026. Chief Technical Officer Paul Mendell will receive 260,871 new ordinary shares in respect of US$14,835 of accrued remuneration for the period from 18 May 2026 to 30 September 2026. Both issuances are consistent with the share-based remuneration arrangements disclosed in the company's admission document dated 11 June 2026, the announcement states. The shares are issued at the same price of 4.287 pence per share for both executives.

Post-Admission Shareholdings: Tulloch Holds 2.53%, Mendell Holds 8.90% of Enlarged Capital

Following admission, Nick Tulloch will hold a total of 9,086,273 ordinary shares, representing 2.53% of the company's enlarged issued share capital, including shares held by his spouse and by Fetlar Capital Ltd and West Cliffs Capital L.L.C-Fz, entities the announcement identifies as companies controlled by Tulloch. Paul Mendell will hold 31,945,825 ordinary shares, equating to 8.90% of the enlarged capital. An additional 139,958 new shares will be issued at the same 4.287 pence price as payment in lieu of approximately £6,000 of accrued fees owed to professional advisers.

M3 Helium's Kansas Operations: Rost Wells and Hugoton Field Assets Underpin Production Base

Mendell Helium operates through M3 Helium, whose flagship Rost 1-26 well in Fort Dodge, Kansas, commenced production in early November 2025 and recorded a flow rate of 250 Mcf per day in December 2025. The company has also drilled a second well, Rost 2-26, currently being de-watered, with early results showing a helium composition of 11.5%. M3 Helium additionally holds interests in five producing wells within the Hugoton gas field in south-western Kansas, connected to the Jayhawk gas processing plant, providing established infrastructure access for the company's growing portfolio.

Total Voting Rights Rise to 359,031,556 Following AIM Admission of New Shares

Upon admission of all 1,100,619 new ordinary shares, Mendell Helium's total issued share capital will comprise 359,031,556 ordinary shares of 1 pence each. This figure represents the total number of voting rights in the company and serves as the denominator shareholders should use when assessing disclosure obligations under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. All new shares rank pari passu with existing ordinary shares. Investors may note that repeated share-for-remuneration issuances carry an ongoing dilution risk as the company continues to manage its cash position through equity settlement.