Andrada Mining has issued more than 18.5 million shares to members of its executive committee and senior management as part of its Short-Term Incentive Plan (STIP) for the 2025 financial year, replacing cash bonuses with equity awards.
The company said 18,595,768 ordinary shares were granted in line with its shareholder-approved remuneration policy, with the share-based awards intended to align employee incentives more closely with shareholder interests.
In addition to the STIP allocation, Andrada granted nil-cost Long-Term Incentive Plan (LTIP) awards covering 54,854,811 ordinary shares to executives and key employees. These awards are subject to performance conditions over a three-year period and are designed to support staff retention and the company’s long-term growth strategy.
“Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF)… has issued 18,595,768 shares pursuant to the terms of its Short-Term Incentive Plan to the Executive Committee and senior managers in lieu of cash bonuses for performance in the 2025 financial year,” the company said in a statement.
The executive directors’ incentive awards reflect operational performance during the financial year ended 28 February 2025. Andrada reported a 4% increase in tin production to 921 tonnes, alongside an 11% rise in tin concentrate shipments.
The company also pointed to strategic developments, including the entry of Chilean lithium producer SQM into the Lithium Ridge project, as a key milestone contributing to performance during the period.
Separately, Andrada announced the repricing of 66,380,269 historical share options, reducing the exercise price to 5 pence and extending the expiry date to February 2033. The move is aimed at restoring the options’ effectiveness as a long-term incentive for employees.
The newly issued shares are expected to begin trading on the AIM market on or around 9 March 2026.
Following the issuance, Andrada Mining’s total voting rights will increase to 1,972,577,300 ordinary shares.
