Grant of Warrants
Company grants 10m warrants to CEO and CFO with 6p exercise price, vesting on share price targets.
- Warrants granted to CEO 8,000,000
- Warrants granted to CFO 2,000,000
- Exercise price per share 6 pence
- First vesting trigger 9p for 10 consecutive trading days
- Second vesting trigger 12p for 10 consecutive trading days
- Expiry date 14 October 2031
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Sundae Bar AI Plc (AIM: SBAR), the Enterprise AI Platform where businesses discover, deploy and manage AI through one simple interface, announces that it has granted in total 10,000,000 warrants over ordinary shares of 0.1p each (the “Ordinary Shares”) to Executive Directors Jill Kenney, CEO (8,000,000 warrants) and Benjamin Sampson, CFO (2,000,000 warrants) exercisable at a price of 6 pence per Ordinary Share (the “2026 Executive Warrants”).
1/3 vesting when the closing mid-market price per Ordinary Share has been above 9p for 10 consecutive trading days; and
1/3 vesting when the closing mid-market price per Ordinary Share has been above 12p for 10 consecutive trading days.
- Expiry date: 14 October 2031
- Exercise price: 6 pence (or such adjusted price as may be determined in certain circumstances, for example in an event of sub-division or share consolidation)
- The 2026 Executive Warrants lapse when the Executive Director ceases to work for the Company, unless agreed otherwise.
Related Party
The grant of 2026 Executive Warrants to Jill Kenney and Benjamin Sampson, both Executive Directors of the Company, is being treated as a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. Accordingly, the independent directors, being Jonathan Bixby and James Shepherd, consider the grant and the terms of 2026 Executive Warrants are fair and reasonable insofar as the Company's shareholders are concerned.
Distribution
About sundae_bar
Following its Admission to AIM in June 2025, sundae_bar is building a commercial platform for AI Agents focused on real business workflows. The Company is developing AI Agents and AI Agent Skills through Subnet 121 ("SN121"), its decentralised training and evaluation environment on the Bittensor network. SN121 enables global developers to compete to improve performance against structured, real-world benchmarks, with improvements measured through objective evaluation. Alongside this, sundae_bar operates a live enterprise marketplace where businesses can discover, deploy and manage specialised AI Agents across operational functions including marketing, finance, research and workflow automation.
The notification below, made in accordance with the Market Abuse Regulation, provides further details in relation to the granting of the 2026 Executive Warrants.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a. | Name | 1. Jill Kenney 2. Benjamin Sampson |
| 2. | Reason for the notification | |
| a. | Position/status | 1. CEO 2. CFO |
| b. | Initial notification /Amendment | Initial notification |
| a. | Name | SUNDAE BAR AI PLC |
| b. | LEI | 984500EF5CD7E658D446 |
| a. | Description of the Financial instrument, type of instrument Identification code | Warrants over Ordinary Shares of 0.1 pence GB00BRXKJ754 |
| b. | Nature of the transaction | Grant of Warrants at nil consideration |
| c. | Price(s) and volume(s) | Price(s) Volume(s) 1. Exercise price of 6p 8,000,000 2. Exercise price of 6p 2,000,000 |
| d. | Aggregated information · Aggregated volume · Price | Price(s) Volume(s) 1. Exercise price of 6p 8,000,000 2. Exercise price of 6p 2,000,000 |
| 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.