Namibia Critical Metals’ board has approved the issuance of 1,000,000 incentive stock options to employees, consultants, officers and directors as part of its remuneration framework following the company’s Annual General Meeting (AGM).
The options are exercisable at N$3.31 (US$0.20) per share, equivalent to the company’s closing share price on 13 May 2026, and carry a five-year term.
“The company also announced today, pursuant to the requirements of the TSX Venture Exchange, that its board of directors approved the granting of incentive stock options under its stock option plan as part of the overall remuneration and incentive programme for its employees, consultants, officers and directors. A total of 1,000,000 options were granted,” the company said in a statement.
It was further reported that shareholders representing 68.04% of the company’s issued shares were present in person or by proxy, ensuring a valid quorum at the AGM.
All resolutions presented at the meeting were approved, including the election of directors, the appointment of auditors and the renewal of the company’s stock option plan.
Four directors, namely Adrian T. Hickey, Steve Herlihy, Darrin Campbell and William L. Price, were re-elected to the board, each receiving 99.96% of votes in favour.
Shareholders also approved the company’s stock option plan, which allows for the granting of options of up to 10% of issued and outstanding common shares at the time of grant.
PricewaterhouseCoopers LLP was re-appointed as auditor for the coming financial year.
The options will vest 25% immediately, with the remaining 75% vesting in quarterly instalments thereafter.
“All the options are exercisable for a period of five years at a price of US$0.20 per common share, being the closing price of the company’s common shares on the TSX Venture Exchange on 13 May 2026, and will vest 25% immediately and 25% per quarter thereafter,” the company said.
