Zoetic International PLC (LON:ZOE) surged 7.6% to 4.25p after it flagged up a new staff share option scheme.

The vertically integrated cannabidiol (CBD) and natural resources company said that under the scheme, all of the company’s employees will be eligible for awards.

The company, which is now focused on building its hemp-growing operation in Colorado and retail operations on both sides of the Atlantic, said it has issued 7.16mln share options to directors and employees that can be exercised at 10p a pop.

Zoetic said the scheme will be a key part of its remuneration policy and, by giving staff the opportunity to build up a meaningful shareholding, “allows all employees to share in the company’s success when the business strategy is executed successfully” and help maintain a positive company culture.