Grant of Share Options to Senior Management Team
Hydrogen Utopia International PLC announced the grant of share options to its senior management team, including the Chief Technical Officer, Chief Financial Officer, Sales Director, and Marketing & Communications Director, with each receiving 500,000 options at an exercise price of £0.0255 per share. These options vest in 12 months and expire in 10 years, and if fully exercised, would result in the issuance of 2,000,000 new ordinary shares, representing approximately 0.42% of the enlarged issued share capital. This move is intended to recognize and incentivize the team's commitment and past sacrifices in preserving the company's cash resources.
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Hydrogen Utopia International PLC (LSE: HUI), a pioneering company transforming non-recyclable waste plastic into hydrogen, clean fuels and advanced materials, is pleased to announce that the Board has approved the issue of new share options to our hard-working and loyal employees and consultants of the Company.
The grant of options reflects the ongoing commitment of the Company's employees and consultants, who have forgone pay rises, bonuses and fees over the last years in order to preserve the Company's cash resources as it continues to advance its waste-to-hydrogen and, most importantly, waste-to-SAF strategy. The Board considers that the issue of these options is an appropriate and cost-effective way to recognise and incentivise the team responsible for delivering the Company's growth.
The Board confirms the following grants of options, each with an exercise price of £0.0255 per share:
Duncan Snelling, Chief Technical Officer - 500,000 share options
James Nicholls-May, Chief Financial Officer - 500,000 share options
Paul Warwick, Sales Director - 500,000 share options
Katy O'Rourke, Marketing & Communications Director - 500,000 share options
The options will become exercisable 12 months from the date of grant and will expire 10 years from the date of grant.
If exercised in full, the options would result in the issue of 2,000,000 new ordinary shares, representing approximately 0.42% of the Company's enlarged issued share capital.
Aleksandra Binkowska, Chief Executive Officer of Hydrogen Utopia International PLC, commented:
"Duncan, James, Paul and Katy have stood with this Company since its earliest days, through every setback and every milestone, and their conviction in what we are building has never faltered. This grant of options is a considered gesture of gratitude from the Board, and a recognition that as Hydrogen Utopia enters its next chapter, those who helped lay its foundations should share in the future value of the Company. Thank you. "
Hydrogen Utopia International PLC
Aleksandra Binkowska
Alfred Henry Corporate Finance Limited (LSE Corporate Adviser)
Nick Michaels/Maya Klein Wassink
Clear Capital Markets (Broker)
Bob Roberts
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