REG - 80 Mile PLC - Update on EBT and Director Dealings
19/02/2026 07:05
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RNS Number : 6596T 80 Mile PLC 19 February 2026
19 February 2026
Update on EBT and Director Dealings
80 Mile PLC ("80 Mile" or the "Company"), the AIM, FSE, and OTC listed
exploration and development company, is pleased to announced that the
milestones as announced on 26 August 2025, have now been met and as such
380,000,000 ordinary shares of the Company ("Shares") are to be transferred
from the Employee Benefit Trust ("EBT") to certain Directors of the Company.
This follows announcements made on 28 July 2025
(https://www.80mile.com/regulatory-news/83108) , 4 August 2025
(https://www.80mile.com/regulatory-news/83189) and 26 August 2025
(https://www.80mile.com/regulatory-news/83351) .
The EBT Performance Hurdles of:
1. Market Cap > £15m,
2. Market Cap > £20m,
3. Market Cap > £25m, and
4. Market Cap > £40m
have all been met, and subsequently the transfer of Shares from the EBT to the
Directors of the Company has occurred.
Prior to the above transfers, the EBT had a total of 393,557,018 ordinary
shares of the Company held on trust.
Certain of the Directors will receive 190,000,000 Shares immediately and
190,000,000 Shares on 11 September 2026, and 14 January 2027 accordingly,
being 12 months and 1 day from the date on which the Performance Hurdles were
achieved.
Options
In addition, the Company has granted 4 tranches of 60,000,000 options over new
Ordinary Shares of the Company, exercisable at £0.02, £0.04, £0.06 and
£0.08 per share for a period of four years from the date of vesting
("Options"). 185,000,000 of the Options have been granted to Directors and
55,000,000 Options have been granted to key personnel of the Company. Thes
options have been issued to align management interests and objectives with
those of all shareholders. There still remains a signific ant amount of work
to be completed prior to drilling and these options ensure that the current
management team stays focussed and fully incentivised during this time.
Further details concerning dealings by person discharging managerial
responsibilities are set out below.
Total Voting Rights
Following the transfer of 190,000,000 Shares from the EBT, and for the
purposes of the Disclosure Guidance and Transparency Rules, the Company will
have 5,006,562,696 ordinary shares of 0.01p par value in issue of which
4,803,005,678 have voting rights. Shareholders may use this figure as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
issued share capital of the Company. The remaining 203,557,018 shares have no
voting rights and are held in treasury via the Company's Employee Benefit
Trust.
For further information please visit http://www.80mile.com or contact:
Investor Relations 80 Mile plc enquiry@80mile.com
Ewan Leggat / Devik Mehta SP Angel Corporate Finance LLP +44 (0) 20 3470 0470
(Nominated Adviser and Broker)
Harry Ansell / Katy Mitchell / Andrew de Andrade Zeus Capital Limited (Joint Broker) +44 (0) 20 3829 5000
Megan Ray / Said Izagaren BlytheRay +44 (0) 20 7138 3204
(Media Contact)
80mile@blytheray.com
About 80 Mile Plc:
80 Mile Plc is listed on London's AIM market under the ticker 80M, the
Frankfurt Stock Exchange under the symbol S5WA, and traded on the U.S. OTC
Market under the ticker BLLYF. 80M is an exploration and development company
focused on Hydrocarbons and High-Grade Critical Metal projects in Greenland
and an industrial gas and biofuels business in Italy. 80 Mile offers both
portfolio and commodity diversification focused on hydrocarbons, base and
precious metals, while expanding into sustainable fuels and clean energy
solutions in Tier 1 jurisdictions. 80 Mile's strategy is centred on advancing
key projects while creating value through partnerships and strategic
acquisitions.
80 Mile's Jameson Project covers 8,429km² across three licences in East
Greenland and represents one of the world's largest remaining untapped gas and
liquids-rich basins. An independent 2025 assessment by Sproule ERCE estimated
the basin contains 13.03 billion barrels (P10) of recoverable oil, with 80
Mile's retained interest equating to 3.9 billion barrels valued at
approximately US$92 million (based on the listing price of GLND). More than
US$275 million has been invested historically by major energy companies and
government institutions. In 2025, a milestone agreement with March GL (to be
renamed Greenland Energy Co, NASDAQ: GLND) enabled plans for two fully funded
3,500-metre drill holes in the second half of 2026, after which GLND will earn
a 70% interest in the Jameson Project, leaving 80 Mile with 30%.
The Disko-Nuussuaq Project, located in West Greenland, covering a
district-scale 3,020km² area. Disko is recognised as a world-class geological
setting for copper, nickel, cobalt and PGEs, with potential for a Tier-1
nickel-copper discovery analogous to Siberia's Norilsk Nickel District. The
project features multiple walk-up drill targets and which includes seven
large, high-priority geophysical anomalies. In late 2025, the company entered
into a JV agreement with USFM Corporation under which USFM will fund US$30
million in drilling-related expenditure, including US$10 million in
spring/summer 2026, to accelerate drilling and resource definition at Disko.
The funding structure will allow 80 Mile to retain operational leadership
during the project's critical early stages.
The Dundas Project, located on Greenland's northwest coast, is recognised by
independent bodies as the world's highest-grade ilmenite project and the
second-largest titanium occurrence globally after Russia. The area hosts
high-purity ilmenite, the primary mineral for titanium. Dundas has a
JORC-compliant Mineral Resource of 117 million tonnes at 6.1% ilmenite, with
further upside highlighted by a late-2024 maiden exploration target of up to
540 million tonnes of additional ilmenite-bearing material. A recent survey by
Geological Survey of Denmark and Greenland further impresses on the
prospectivity of the area with an estimate of up to 17 billion tonnes
(non-JORC) of pure ilmenite within the broader province. With a completed
bankable feasibility study and all exploitation permits in place, the project
is positioned as a major near-term revenue opportunity for 80 Mile as the
company seeks development partners.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 Details of the person discharging managerial responsibilities/person closely
associated
a Name: Roderick McIllree
2 Reason for the notification
a Position/status: Executive Director
b Initial notification/Amendment: Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a Name: 80 Mile Plc
b LEI: 213800E9AEFEHFLOVJ19
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a Description of the financial instrument, type of instrument: Ordinary shares of £0.01 each
Identification code:
GB00BFD3VF20
b Nature of the transaction: 1. Grant of Options
2. Transfer of Shares
3. Conditional Transfer of Shares
c Price(s) and volume(s): 1. Grant of Options
Price(s) Volume(s)
1 £0.020 10,000,000
2 £0.040 25,000,000
3 £0.060 25,000,000
4 £0.080 25,000,000
2. Transfer of Shares
Price(s) Volume(s)
1 £0 90,000,000
3. Conditional Transfer of Shares
Price(s) Volume(s)
1 £0 90,000,000
d Aggregated information: Single transactions as in 4 c) above
Aggregated volume: 1. Grant of Options
Price(s) Volume(s)
Price: 1 £0.020 10,000,000
2 £0.040 25,000,000
3 £0.060 25,000,000
4 £0.080 25,000,000
2. Transfer of Shares
Price(s) Volume(s)
1 £0 90,000,000
3. Conditional Transfer of Shares
Price(s) Volume(s)
1 £0 90,000,000
e Date of the transaction: 2026-02-02
16:00 hrs UTC
f Place of the transaction: Outside a trading venue
2. Transfer of Shares
Price(s) Volume(s)
1 £0 90,000,000
3. Conditional Transfer of Shares
Price(s) Volume(s)
1 £0 90,000,000
d
Aggregated information:
Aggregated volume:
Price:
Single transactions as in 4 c) above
1. Grant of Options
Price(s) Volume(s)
1 £0.020 10,000,000
2 £0.040 25,000,000
3 £0.060 25,000,000
4 £0.080 25,000,000
2. Transfer of Shares
Price(s) Volume(s)
1 £0 90,000,000
3. Conditional Transfer of Shares
Price(s) Volume(s)
1 £0 90,000,000
e
Date of the transaction:
2026-02-02
16:00 hrs UTC
f
Place of the transaction:
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a Name: Eric Sondergaard
2 Reason for the notification
a Position/status: Managing Director
b Initial notification/Amendment: Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a Name: 80 Mile Plc
b LEI: 213800E9AEFEHFLOVJ19
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a Description of the financial instrument, type of instrument: Ordinary shares of £0.01 each
Identification code:
GB00BFD3VF20
b Nature of the transaction: 1. Transfer of Shares
2. Conditional Transfer of Shares
c Price(s) and volume(s): Price(s) Volume(s)
1 £0 80,000,000
3. Conditional Transfer of Shares
Price(s) Volume(s)
1 £0 80,000,000
d Aggregated information: Single transactions as in 4 c) above
Aggregated volume: 1. Transfer of Shares
Price(s) Volume(s)
Price: 1 £0 80,000,000
2. Conditional Transfer of Shares
Price(s) Volume(s)
1 £0 80,000,000
e Date of the transaction: 2026-02-02
16:00 hrs UTC
f Place of the transaction: Outside a trading venue
3. Conditional Transfer of Shares
Price(s) Volume(s)
1 £0 80,000,000
d
Aggregated information:
Aggregated volume:
Price:
Single transactions as in 4 c) above
1. Transfer of Shares
Price(s) Volume(s)
1 £0 80,000,000
2. Conditional Transfer of Shares
Price(s) Volume(s)
1 £0 80,000,000
e
Date of the transaction:
2026-02-02
16:00 hrs UTC
f
Place of the transaction:
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a Name: Troy Whittaker
2 Reason for the notification
a Position/status: Executive Director
b Initial notification/Amendment: Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a Name: 80 Mile Plc
b LEI: 213800E9AEFEHFLOVJ19
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a Description of the financial instrument, type of instrument: Ordinary shares of £0.01 each
Identification code:
GB00BFD3VF20
b Nature of the transaction: 1. Grant of Options
2. Issue of Shares
3. Conditional Transfer of Shares
c Price(s) and volume(s): 1. Grant of Options
Price(s) Volume(s)
1 £0.020 25,000,000
2 £0.040 25,000,000
3 £0.060 25,000,000
4 £0.080 25,000,000
2. Transfer of Shares
Price(s) Volume(s)
1 £0 20,000,000
3. Conditional Transfer of Shares
Price(s) Volume(s)
1 £0 20,000,000
d Aggregated information: Single transactions as in 4 c) above
Aggregated volume: 1. Grant of Options
Price(s) Volume(s)
Price: 1 £0.020 25,000,000
2 £0.040 25,000,000
3 £0.060 25,000,000
4 £0.080 25,000,000
2. Transfer of Shares
Price(s) Volume(s)
1 £0 20,000,000
3. Conditional Transfer of Shares
Price(s) Volume(s)
1 £0 20,000,000
e Date of the transaction: 2026-02-02
16:00 hrs UTC
f Place of the transaction: Outside a trading venue
2. Transfer of Shares
Price(s) Volume(s)
1 £0 20,000,000
3. Conditional Transfer of Shares
Price(s) Volume(s)
1 £0 20,000,000
d
Aggregated information:
Aggregated volume:
Price:
Single transactions as in 4 c) above
1. Grant of Options
Price(s) Volume(s)
1 £0.020 25,000,000
2 £0.040 25,000,000
3 £0.060 25,000,000
4 £0.080 25,000,000
2. Transfer of Shares
Price(s) Volume(s)
1 £0 20,000,000
3. Conditional Transfer of Shares
Price(s) Volume(s)
1 £0 20,000,000
e
Date of the transaction:
2026-02-02
16:00 hrs UTC
f
Place of the transaction:
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a Name: Olga Solovieva
2 Reason for the notification
a Position/status: Chief Operating Officer
b Initial notification/Amendment: Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a Name: 80 Mile Plc
b LEI: 213800E9AEFEHFLOVJ19
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a Description of the financial instrument, type of instrument: Ordinary shares of £0.01 each
Identification code:
GB00BFD3VF20
b Nature of the transaction: 1. Grant of Options
c Price(s) and volume(s): 1. Grant of Options
Price(s) Volume(s)
1 £0.020 10,000,000
2 £0.040 10,000,000
3 £0.060 10,000,000
4 £0.080 10,000,000
d Aggregated information: Single transactions as in 4 c) above
Aggregated volume: 1. Grant of Options
Price(s) Volume(s)
Price: 1 £0.020 10,000,000
2 £0.040 10,000,000
3 £0.060 10,000,000
4 £0.080 10,000,000
e Date of the transaction: 2026-02-02
16:00 hrs UTC
f Place of the transaction: Outside a trading venue
d
Aggregated information:
Aggregated volume:
Price:
Single transactions as in 4 c) above
1. Grant of Options
Price(s) Volume(s)
1 £0.020 10,000,000
2 £0.040 10,000,000
3 £0.060 10,000,000
4 £0.080 10,000,000
e
Date of the transaction:
2026-02-02
16:00 hrs UTC
f
Place of the transaction:
Outside a trading venue
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