Tertiary Minerals PLC (AIM: TYM), an AIM-traded mineral exploration and development company focused on energy transition metals, has announced the approval of executive bonus awards for the 2025 calendar year under its existing Bonus Scheme. The Board of Directors approved the issue of 37,684,678 new Ordinary Shares to two executive directors at a price of 0.0575 pence per share, subject to admission to trading on AIM. The announcement, classified as inside information under the UK Market Abuse Regulation, is expected to result in AIM admission on or around Tuesday 17 November 2026.

Key Points

  • Tertiary Minerals PLC (AIM: TYM) — AIM-traded mineral exploration and development company
  • Board approved 37,684,678 new Ordinary Shares as bonus awards for the 2025 calendar year under the existing Bonus Scheme adopted on 18 November 2024
  • Shares to be issued at 0.0575 pence each; AIM admission expected at 8.00 a.m. on or around 17 November 2026; Bonus Shares subject to a two-year hold period
  • Investors should monitor the AIM admission confirmation and the resulting change to total voting rights, which will reach 8,858,707,072 Ordinary Shares

Board Approves 2025 Bonus Scheme Awards for Cheetham and Belcher

At a Board Meeting held on 10 November 2026, Tertiary Minerals' Board adopted the recommendations of its Remuneration Committee and approved bonus awards for two executive directors for the calendar year 2025. Executive Chairman Patrick Cheetham was awarded a bonus equal to 13% of his 2025 salary, resulting in the issue of 19,241,548 new Ordinary Shares. Managing Director Dr Richard Belcher, who joined in that capacity from 7 March 2025, received a bonus equal to 23% of his 2025 salary, pro-rated for his period of employment, resulting in 18,443,130 new Ordinary Shares. Both awards are net of employee PAYE and National Insurance contributions.

Bonus Shares Priced at 0.0575 Pence and Subject to Two-Year Hold Period

Under the terms of the Bonus Scheme, bonus awards are payable in Ordinary Shares calculated using the closing mid-market price of the Company's shares on the day prior to the award date. Accordingly, all 37,684,678 Bonus Shares are priced at 0.0575 pence per share. The Bonus Shares will be subject to a mandatory hold period of two years from the date of issue, with an exception applicable only in the event that a takeover bid is made for the entire issued share capital of the Company. The Bonus Shares will rank pari passu with existing Ordinary Shares.

AIM Admission Expected 17 November 2026, Lifting Total Voting Rights to 8.86 Billion Shares

Application has been made to the London Stock Exchange for admission of the Bonus Shares to trading on AIM, with Admission expected at 8.00 a.m. on or around Tuesday 17 November 2026. Following the issue, the Company's total issued share capital will comprise 8,858,707,072 Ordinary Shares with a nominal value of 0.01 pence each. The Company holds no shares in Treasury, meaning the total figure also represents the full count of shares with voting rights, which shareholders may use as the denominator for FCA Disclosure Guidance and Transparency Rules calculations.

Tertiary Minerals' Focus on Copper and Precious Metals in Nevada and Zambia

Tertiary Minerals describes itself as a mineral exploration and development company whose strategic focus is on energy transition metals, specifically copper and precious metals. Its projects are located in Nevada, United States, and Zambia — jurisdictions the company characterises as stable, democratic, and mining-friendly. As an early-stage exploration company operating across two continents, Tertiary carries the inherent risks associated with mineral discovery and development, including uncertain resource outcomes and dependence on commodity price cycles. Investors may wish to monitor project milestones alongside any further corporate developments at the AIM-listed group.