Delivery of Third Milestone and Grant of Options
Kromek Group plc has successfully delivered the third milestone under its enablement agreement with Siemens Healthineers, receiving a $2.5m payment, bringing the total received to $32.5m, with a further $5.0m expected by April 2029. Additionally, CEO Arnab Basu and COO Berry Beumer were each granted 555,687 options at an exercise price of 1p, based on a previous average share price of 5.65p, bringing the total outstanding options and long-term incentive awards to 76,486,278, representing 11.7% of the issued share capital.
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Kromek Group plc (AIM: KMK), a global detection company delivering best-in-class solutions for the advanced imaging and CBRN detection markets, announces the successful delivery of the third milestone under its enablement agreement (the "Enablement Agreement") with Siemens Medical Solutions USA, Inc. ("Siemens Healthineers") and the grant of options to directors of the Company.
Siemens Healthineers payment
Further to Kromek's announcement of 30 January 2025, the Company is pleased to announce that it has successfully delivered the third milestone under its Enablement Agreement with Siemens Healthineers and has received the third payment instalment of $2.5m. To date, the Company has received $32.5m under the Enablement Agreement. The remaining payment of $5.0m is payable at completion of the Group's delivery under the Enablement Agreement, which is expected to occur in the financial year to 30 April 2029.
Grant of options to directors
As detailed in the Company's final results announcement on 16 September 2025, Arnab Basu, CEO, and Berry Beumer, COO and President of the Advanced Imaging Division, were granted a special conditional bonus to be paid in four instalments dependent on the delivery of the four milestones under the Enablement Agreement, and the receipt by the Group of the associated cash payment, and subject to the individual remaining an employee of the Group. Dr. Basu and Mr. Beumer elected at that time to receive a significant proportion of the bonus as options over ordinary shares of 1p each ("Ordinary Shares") in the Company.
Accordingly, following the receipt of the third payment instalment under the Enablement Agreement, the Company granted, on 5 August 2026 (the "Grant Date"), Dr. Basu and Mr. Beumer 555,687 options each. The options vested upon issue and expire on the tenth anniversary of the Grant Date. The options have an exercise price of 1p per Ordinary Share and the number of options was calculated based on a price of 5.65p per Ordinary Share, being the average price of the Company's Ordinary Shares on AIM for the three months preceding and three months following the announcement of the Siemens Healthineers transaction on 30 January 2025.
Following this grant of options, the Company has options and long-term incentive awards outstanding over a total of 76,486,278 Ordinary Shares, representing 11.7% of the Company's issued share capital.
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Kromek Group plc
Kromek is listed on AIM, a market of the London Stock Exchange, under the trading symbol 'KMK'.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Arnab Basu |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Kromek Group plc |
| b) | LEI | 213800VLHYXGHEX5VQ48 |
| Identification code | GB00BD7V5D43 | |
| b) | Nature of the transaction | Grant of options |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| Exercise price of 1p | 555,687 | |
| d) | Aggregated information - Aggregated volume - Price | N/A |
| e) | Date of the transaction | 5 August 2026 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Berry Beumer |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Operating Officer and President of the Advanced Imaging Division |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Kromek Group plc |
| b) | LEI | 213800VLHYXGHEX5VQ48 |
| Identification code | GB00BD7V5D43 | |
| b) | Nature of the transaction | Grant of options |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| Exercise price of 1p | 555,687 | |
| d) | Aggregated information - Aggregated volume - Price | N/A |
| e) | Date of the transaction | 5 August 2026 |
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.