(Sharecast News) - Tanzania-focussed helium exporter Helium One Global announced a new cooperation agreement with Noble Helium, an Australian exploration company.
The AIM-traded firm said under the agreement, both companies would collaborate in sourcing and securing a suitable drilling rig, along with associated services and logistics required for Helium One's proposed drilling campaign.
Its announcement followed the company's recent annual general meeting, where the board outlined a proposed drilling timeline.
The firm said the new agreement was not expected to affect that drilling timeline.
In addition to the new agreement, Helium One confirmed the appointment of Lorna Blaisse to its board as an executive director.
Blaisse's appointment followed the conclusion of regulatory due diligence, with the board confirming she would assume her role with immediate effect.
"The board had resolved to issue eight million options in aggregate to subscribe for ordinary shares," the board said in its statement.
"The options have been issued as to five million to Lorna Blaisse and three million to Kai Gruschwitz, the company's new technical director.
"The options will vest in three equal tranches over the next three years, and are exercisable at 6.25p per share, a premium of 16.8% to the closing share price on 22 February."
At the close on Thursday, shares in Helium One Global were up 0.19% at 5.36p.
Reporting by Josh White for Sharecast.com.
Helium One (HE1)