Grant of options and PDMR dealings
MicroSalt Plc has granted options over 575,000 ordinary shares at an exercise price of £0.45 each to its CEO, interim CFO, COO, and other directors under its 2024 Long Term Incentive Plan. These options, which vest over two years subject to revenue performance conditions for the financial years ending 31 December 2026 and 2027, represent approximately 11.8% of the company's current issued share capital if fully accepted. The grant of these options is considered a transaction by persons discharging managerial responsibilities.
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MicroSalt plc (AIM:SALT), a leading provider of full-flavour, natural salt with approximately 50% less sodium, announces that it has granted options over 575,000 ordinary shares of £0.001625 each in the Company ("Ordinary Shares") (the "Options") under the Company's 2024 Long Term Incentive Plan (the "2024 LTIP"). The Options have been granted to certain directors and other PDMRs of the Company as follows:
| Subscriber | No. Share Options granted | |
|---|---|---|
| Rick Guiney | CEO | 250,000 |
| Gary Urmston | Interim CFO | 50,000 |
| Javier Contreras | COO | 75,000 |
| Mario Habre | Business development director | 100,000 |
| Carolina Berardi | VP of marketing | 50,000 |
| Stephanie Chavez | VP of finance | 50,000 |
| TOTAL | 575,000 |
Subject to satisfaction of the acceptance conditions under the 2024 LTIP, the Options will vest, subject to the achievement of certain revenue performance conditions for the financial years ending 31 December 2026 and 2027, over a 2 year period from 31 December 2025, and lapse on the tenth anniversary of grant. The exercise price of the Options is £0.45, being the issue price of the Company's recent equity fundraise.
The new Options (if all are accepted), together with other options already granted, represent approximately 11.8% of the current issued share capital of the Company.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
| Subscriber | No. Share Options granted | ||
|---|---|---|---|
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a. | Name | (i) Rick Guiney (ii) Gary Urmston (iii) Javier Contreras (iv) Mario Habre (v) Carolina Berardi (vi) Stephanie Chavez | |
| 2 | Reason for notification | ||
| a. | Position/Status | (i) CEO (ii) Interim CFO (iii) COO (iv) Business development director (v) VP of marketing (vi) VP of finance | |
| b. | Initial notification/ Amendment | Initial Notification | |
| a. | Name | MicroSalt plc | |
| b. | LEI | 213800L7WRHP8CCEEQ48 | |
| a. | Description of the financial instrument, type of instrument Identification Code | Ordinary Shares of £0.001625 each ISIN: GB00BQB6FF85 | |
| b. | Nature of the transaction | Grant of options | |
| c. | Price(s) and volume(s) | Price(s) | Volume(s) |
| (i) | £0.45 | 250,000 | |
| (ii) | £0.45 | 50,000 | |
| (iii) | £0.45 | 75,000 | |
| (iv) | £0.45 | 100,000 | |
| (v) | £0.45 | 50,000 | |
| (vi) | £0.45 | 50,000 | |
| d. | Aggregated information | See above | |
| f. | Place of the transaction | London Stock Exchange |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.