Issue of share options to Directors and PDMRs
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Mobile Streams plc, the AIM quoted mobile content and data Intelligence Company, announces the award of share options to Directors and senior employees.
The Company's remuneration committee has reviewed the remuneration of the Directors and senior executives and noted that they continue to be significantly below standard market rates for their current roles. Furthermore, the Board believes options provide a good incentive for management to work to improve the Company's share price performance in line with Shareholder's interests.
To provide suitable incentives to the senior executives without increasing the cash burn, the Company has granted share options to certain of the Directors and other senior employees, exercisable at the share price of 0.07p, being the share price of the fundraise in early December 2023. It should be noted that subsequent raises at 0.06p and 0.0425p were at a lower price than the strike price of these options.
The options are struck at a premium of 97% to the closing mid-price share price of 0.0355p as at Tuesday 4th June 2024.
The vesting conditions for these share options are detailed as follows - 50% of the Options will vest and become exercisable after the 12-month anniversary of grant; the remaining 50% shall vest and become exercisable on the 24-month anniversary of grant. The Options will have a 10 year life from the date of grant and are subject to good and bad leaver provisions. The Options are approved options granted under the Company's existing share option scheme.
Following the grant of the Options, the total number of ordinary shares under option is 640m representing 9.97% of the Company's current issued ordinary share capital. The 220 million options awarded to certain directors, represents 3.42% of the Company's current issued ordinary share capital.
The options have been granted as follows:
| Name | Role | Options |
|---|---|---|
| Mark Epstein | CEO, Director | 100,000,000 |
| Tom Gutteridge | Chief Operating Officer | 100,000,000 |
| John Barker | Director | 100,000,000 |
| Rama Uthayanan | Chief Financial Officer, Director | 20,000,000 |
The total amount of options issued in the 2024 share option plan amounts to 320,000,000 shares which is 4.98% of the ISC.
About Mobile Streams
Mobile Streams delivers world class gaming content to a global audience, through its LiveScores and mobilegaming.com platforms, our long-standing carrier relationships in countries including India, Argentina and Mexico, and through our https://heroesnftclub.com/ site.
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