Metlen Energy & Metals grants share awards to executives

Metlen Energy & Metals PLC recently granted share awards to 14 executives and directors on September 11, as announced in a press release. A total of 220,505 ordinary shares were distributed under the company's Omnibus Plan. The largest allocation went to Chief Executive Officer Christos Gavalas, who received 57,651 shares, followed by Chief Financial Officer Fotini Ioannou with 34,590 shares.

These awards are performance-based and tied to continued employment over a three-year period. The performance criteria include adjusted earnings per share for fiscal year 2028, with a weighted 70% target between €5.50 and €7.00. The remaining 30% of the awards is based on total shareholder return against FTSE 100 constituents from fiscal years 2026 to 2028.

To receive the entire award, executives must meet personal performance standards during the three-year period and hold the shares until the fifth anniversary of the grant date, without the ability to sell them. Additionally, Evangelos Chrisafis, Executive Vice Chairman of Metlen Energy & Metals Single Member S.A., and Dinos Benroubi, Vice Chairman and CEO of METKA ATE, also received share awards, with amounts ranging from 5,189 to 33,750 shares. Metlen Energy & Metals is listed on the London Stock Exchange.