Marula Mining PLC (AQSE: MARU; A2X: MAR) has announced that directors and senior management will be able to elect to receive up to 100% of accrued and future fees and salaries in company shares instead of cash.
The arrangement remains conditional on publication of Marula’s 2024 and 2025 audited accounts, the lifting of the current Aquis trading suspension and shareholder approval at the forthcoming AGM.
Chief Executive Jason Brewer and Chief Operating Officer Alpheus Nethononda have indicated they intend to take 100% of their accrued director fees and salaries in shares, subject to the conditions being met.
Other directors, including Chairman Richard Lloyd, have also indicated they are prepared to take part of their accrued and future remuneration in equity.
The pricing and any additional terms attached to the shares will be determined by the Board once the relevant approvals are in place and trading restrictions have been cleared.
Marula said the move demonstrates continued support from management for the company’s growth strategy while further aligning executive remuneration with shareholder interests.
Any shares issued under the arrangement will not qualify for the proposed Loyalty Warrants announced in July.
