Notification of transactions by Directors, Transfer of Treasury Shares and Total Voting Rights
30 March 2026
Ecora Royalties PLC
("Ecora" or the "Company")
Notification of transactions by Directors, Transfer of Treasury Shares and Total Voting
Rights
Ecora (LSE/TSX: ECOR, OTCQX: ECRAF) announces that on 26 March 2026 the Company transferred
147,586 ordinary shares of 2 pence each in the Company ("Shares") out of treasury (the "Transfer"),
to satisfy exercises of options by Marc Bishop Lafleche, Chief E xecutive Officer and Kevin Flynn,
Chief Financial Officer.
Mr. Bishop Lafleche and Mr. Flynn exercised 113,379 and 34,207 nil cost option awards (the
"Awards") granted under the Company's Long Term Inventive Plan ("LTIP") on 26 March 2026,
respectively. Of the Awards exercised by Mr. Bishop Lafleche, 60,711 vested on 12 May 2025
following the assessment of performance conditions which are disclosed in the 2024
Remuneration Report on pages 117 and 118 of the 2024 Annual Report and Accounts.
The balance of Awards exercised by Mr. Bishop Lafleche (52,668 Awards) and those exercised by
Mr. Flynn related to Awards that vested on 24 February 2026, following the assessment of the
performance conditions which are disclosed in the 2025 Remuneration R eport on page 84 of the
2025 Annual Report and Accounts. Subsequently, Mr. Bishop Lafleche and Mr. Flynn sold 53,502
and 16,142 Shares, respectively, at an average price of £1.2437 per Share, to satisfy income tax
associated with the Awards.
On 26 March 2026 awards of Shares were made under the Company's LTIP at nil cost, with Mr.
Bishop Lafleche granted 680,878 Awards and Mr. Flynn granted 414,662 Awards as detailed below.
A share price of £1.2652, being the 5-day volume weighted average price before grant as approved
by the Company's Remuneration Committee, has been used to determine the number of Shares
awarded.
The LTIP provides Directors with Shares awarded on a conditional basis as determined by the
Remuneration Committee. These awards will vest in March 2029, subject to the satisfaction of
performance conditions linked to total shareholder return, portfolio c ontribution and adjusted
earnings per share as detailed on page 80 of the 2025 Annual Report and Accounts. Any vested
Shares will then be subject to a further holding period of two years and will be released in March
2031.
Total Voting Rights
Following the above Transfer, the Company's issued capital consisted of 261,732,553 Shares, of
which 12,131,486 Shares were held in treasury.
Therefore, the total number of voting rights in the Company is 249,601,067. This number may be
used by shareholders 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 Company under the
FCA's Disclosure and Transparency Rules.
These transactions took place on the London Stock Exchange.
Director Share Dealings - Further information
In accordance with Article 19 of the UK Market Abuse Regulation, the relevant FCA notification is
set out below.
1. Details of the person discharging managerial responsibilities / person closely associated
a. Name Mr. Marc Bishop Lafleche
2. Reason for the notification
a. Position/status Chief Executive Officer of Ecora Royalties PLC
b. Initial notification/Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a. Name Ecora Royalties PLC
b. LEI 213800LXSV317746JZ71
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
Identification code
2p Ordinary Shares
GB0006449366
b. Nature of the transaction Exercise of options and sale of shares.
Award of Shares under the terms of the Ecora Royalties PLC Long-Term
Incentive Plan 2021. Subject to the satisfaction of performance conditions,
the award will vest in March 2029; the Shares will then be subject to a
further holding period of two years and will be released in March 2031.
c. Price(s) and volume(s) Exercise of options - 26 March 2026
Price(s) Volume(s)
Nil (exercise of
options)
113,379
Sale of shares - 26 March 2026
Price(s) Volume(s)
£1.2437 53,502
Grant of shares - 26 March 2026
Price(s) Volume(s)
Nil (grant of options) 680,878
d. Aggregated information
• Aggregated volume
• Price
See above
e. Date of the transaction 26 March 2026
f. Place of the transaction London Stock Exchange, Main Market (XLON)
1. Details of the person discharging managerial responsibilities / person closely associated
a. Name Mr. Kevin Flynn
2. Reason for the notification
a. Position/status Chief Financial Officer of Ecora Royalties PLC
b. Initial notification/Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a. Name Ecora Royalties PLC
b. LEI 213800LXSV317746JZ71
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
Identification code
2p Ordinary Shares
GB0006449366
b. Nature of the transaction Exercise of options and sale of shares
Award of Shares under the terms of the Ecora Royalties PLC Long-Term
Incentive Plan 2021. Subject to the satisfaction of performance conditions,
the award will vest in March 2029; the Shares will then be subject to a
further holding period of two years and will be released in March 2031.
c. Price(s) and volume(s) Exercise of options
Price(s) Volume(s)
Nil (exercise of
options)
34,207
Sale of shares
Price(s) Volume(s)
£1.2437 16,142
Grant of shares
Price(s) Volume(s)
Nil (grant of options) 414,662
d. Aggregated information
• Aggregated volume
• Price
See above
e. Date of the transaction 26 March 2026
f. Place of the transaction London Stock Exchange, Main Market (XLON)
For further information:
Ecora Royalties PLC +44 (0) 20 3435 7400
Jason Gray - Company Secretary
Website: www.ecoraroyalties.com
FTI Consulting +44(0) 20 3727 1000
Sara Powell / Ben Brewerton / Nick Hennis [email protected]