Adoption of Share Option Scheme & Grant of Options
Oracle Power PLC has adopted a new Share Option Scheme and granted 1,697,139,461 options to its CEO and CFO/Company Secretary, representing approximately 10.0 per cent. of the existing issued ordinary share capital. These options have an exercise price of 0.0383 pence each and vest immediately for 50 per cent., with the remainder vesting upon the share price reaching 0.073 pence and 0.110 pence respectively. The scheme allows for options over up to 15 per cent. of the company's issued share capital.
Select text to share a quote on X · sign in to keep highlights & notes in your ORCP notes
Oracle Power PLC (AIM: ORCP), the international project developer, announces the adoption of a new Share Option Scheme (the “Scheme”) and the grant of certain options thereunder.
Rationale for the Scheme
The adoption of the Scheme underscores the Company’s commitment to aligning the incentivisation and interests of its senior management with those of its shareholders.
Details of the Option Grants
The Company yesterday granted, subject to certain vesting criteria, 1,697,139,461 options, in aggregate, with an exercise price of 0.0383 pence each, over new ordinary shares in the Company (“Ordinary Shares”), representing approximately 10.0 per cent. of the Company’s existing issued ordinary share capital. The recipients and details of the grants are set out below:
| Name | Date of Grant | Position | No . of Options Granted | Exercise Price per Ordinary Share | Maturity Date | Total Options Held following this Grant |
|---|---|---|---|---|---|---|
| Naheed Memon | 15/10/2026 | CEO | 1,103,140,650 | 0.0383p | 15 October 2036 | 1,103,140,650 |
| Nicholas Lee | 15/10/2026 | CFO/ Company Secretary | 593,998,811 | 0.0383p | 15 October 2036 | 593,998,811 |
The options vest as follows:
848,569,731 options (approximately 50 per cent.) vest immediately;
424,284,865 options (approximately 25 per cent.) vest upon the Company’s share price increasing to 0.073 pence per Ordinary Share, measured over a consecutive 5-day period (representing an approximate 100 per cent. increase from the prevailing middle market share price of 0.0365 pence); and
the remaining options (approximately 25 per cent.) vest upon the Company’s share price increasing to 0.110 pence per Ordinary Share, measured over a consecutive 5-day period (representing an approximate 200 per cent. increase from the prevailing middle market share price of 0.0365 pence).
The Scheme permits the issuance of options over up to 15 per cent. of the Company’s issued share capital from time to time, thereby affording flexibility and headroom for additional awards if and when appropriate.
PDMR Notification Form:
The notification below is made in accordance with the requirements of MAR.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Naheed Memon Nicholas Lee |
| 2. | Reason for the Notification | |
| a) | Position/status | Chief Executive Officer Chief Financial Officer/Company Secretary |
| b) | Initial notification/amendment | Initial notification |
| a) | Name | Oracle Power PLC |
| b) | LEI | 213800KTG8HX1WBCAA49 |
| a) | Description of the Financial instrument, type of instrument | In each case, the grant of Options over Ordinary Shares of 0.001 pence each in the capital of the Company |
| Identification code | GB00B23JN426 | |
| b) | Nature of the Transaction | Grant of Options over Ordinary Shares of 0.001 pence each in the capital of the Company |
| c) | Price(s) and volume(s) | Price: 0.0383p Volumes: 1,103,140,650 593,998,811 |
| d) | Aggregated information Aggregated volume Price | N/A |
| e) | Date of the transaction | 15 October 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.