Issue of Share Options
Huddled Group plc announced the implementation of a share option scheme for its directors and eligible employees, involving the issuance of 85,500,000 new Ordinary Shares with an exercise price of 0.4 pence per share. The options will vest 12 months from the issue date or when the volume-weighted average price reaches 2.5 pence. Executive Chairman Martin Higginson will receive 15,000,000 options, and Group Finance Director Daniel Wortley will receive 7,500,000 options, with the remaining 63,000,000 options allocated to other employees. Following this grant, the total number of options in issue will be 86,447,333, representing approximately 10.7% of the company's 811,305,717 issued Ordinary Shares. The independent director has confirmed the awards to the executive directors are fair and reasonable for shareholders.
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Huddled Group plc (AIM:HUD), the circular economy e-commerce group, announces that the Company is implementing a share option scheme for its directors and all eligible employees.
The Company intends to issue options (the "Options") over a total of 85,500,000 new Ordinary Shares[1] as follows:
| Name | Position Held | No. of options over Ordinary Shares granted |
|---|---|---|
| Martin Higginson | Executive Chairman | 15,000,000 |
| Daniel Wortley | Group Finance Director | 7,500,000 |
| Other employees | 63,000,000 |
85,500,000
The Options will have an exercise price of 0.4 pence per Ordinary Share.
The Options will vest and be capable of exercise on the later of:
- 12 months from the issue date[2]; and
- The 20th consecutive business day whereby the volume-weighted average price ("VWAP") of the Company's shares is greater than or equal to 2.5 pence.
It is intended that, to the extent possible subject to HMRC's guidelines, the Options will be granted under the Enterprise Management Incentive (EMI) scheme.
There are 947,333 unexercised options previously issued to former employees which remain in issue. Therefore, following the grant of the Options, the Company will have a total of 86,447,333 options in issue over its Ordinary Shares, representing approximately 10.7% of the Company's issued share capital of 811,305,717 Ordinary Shares.
Related Party Transactions
The award of share options to Martin Higginson and Daniel Wortley (the "Executive Directors") are deemed to be related party transactions under the AIM Rules for Companies. The independent Director of the Company, Nicholas Lee, considers, having consulted with the Company's nominated adviser, that the award of the Options to the Executive Directors is fair and reasonable so far as the shareholders of the Company are concerned.
| a) | Name | HUDDLED GROUP PLC |
| b) | LEI | 894500TW3TTWSJ7DYP93 |
| a) | Description of the financial instrument, type of instrument Identification code | Options over Ordinary Shares ISIN: GB00BD5JRP64 |
| b) | Nature of the transaction | Issue of options |
| c) | Price(s) and volume(s) | Person Exercise Price(s) Volume(s) Martin Higginson 0.4p 15,000,000 Daniel Wortley 0.4p 7,500,000 |
| d) | Aggregated information - Aggregated volume - Price | 22,500,000 0.4p |
| e) | Date of the transaction | 23 July 2026 |
| f) | Place of the transaction | Outside a trading venue |
[1] Ordinary shares of 0.040108663 pence each in the Company ("Ordinary Shares")
[2] None of these Options are exercisable within the first 12 months from the date of issue except in the case of a change of control of the Company.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.