Zijin Mining: Option Scheme Now Exercisable, Meets First Conditions

Zijin Mining Group Co., Ltd. has confirmed that the exercise conditions for the first period of its 2023 Share Option Incentive Scheme have been met. The board approved the exercise for 12 participants, totaling 13.10 million share options at an exercise price of RMB11.15 per A Share. These options represent one-third of the initial grant and are sourced from new ordinary A Shares issued by the company. The exercise period will commence after December 7, 2025, and conclude on December 7, 2026.

The company's performance appraisal targets for 2024, forming part of the exercise conditions, were successfully achieved. This includes a 12% growth rate in operating income (exceeding the 10% target and 9% industry average), a 26% return on net assets ratio (above the 12% target and 7% industry average), and a debt-to-asset ratio of 55% (lower than the 65% target). All 12 exercising participants received a performance appraisal grade of B or above.

However, one participant's 2.70 million unexercised share options have been canceled following their resignation, as they no longer meet the eligibility criteria. The company will recognize share-based payment costs throughout the scheme's implementation, with specific figures to be finalized in the audited annual report.