Grant of Share Options
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Tekcapital Plc (AIM: TEK) the UK intellectual property investment group focused on creating valuable products that can improve people's lives, announces the grant of 2,500,000 share options ("Share Options") over new ordinary shares of 0.4 pence each in the Company ("Ordinary Shares") to certain employees and independent non-executive directors.
The Share Options have an exercise price of 11.1p which is a 20% premium to the 9.25p closing price of the Company's shares on 28 June 2024. The Share Options vest in three equal annual instalments from the date of grant and cannot be exercised until 36 months from the date of grant. In addition, for Mr. Max Inglis, Mr. Konrad Dabrowski and Monica Rios are subject to performance criteria (the criteria requiring a growth in NAV of the Company at a minimum of 8% per annum) as agreed by the Remuneration Committee. If not exercised the Share Options will lapse 5 years after the date of grant.
| Executive | No. of options granted | Existing no. of options | Option Type | Total no. of options over Ordinary Shares | Total Options as a percentage of the Company's issued share capital |
|---|---|---|---|---|---|
| Dr. Robert Miller | 100,000 | 300,000 | Non-EMI | 400,000 | 0.20% |
| Lord David Willetts | 100,000 | 200,000 | Non-EMI | 300,000 | 0.15% |
| Mr. Louis Castro | 100,000 | - | Non-EMI | 100,000 | 0.05% |
| Mr. Max Inglis | 100,000 | 1,900,000 | Non-EMI | 2,000,000 | 1.01% |
| Mr. Konrad Dabrowski | 2,000,000 | 2,000,000 | Non-EMI | 4,000,000 | 2.02% |
| Monica Rios | 100,000 | - | Non-EMI | 100,000 | 0.05% |
A total of 2,500,000 of the awarded Share Options are as set out below:
Following the issue of the new Share Options, the total number of Ordinary Shares under option is 12,002,000 Ordinary Shares representing 6.06% of the Company's issued share capital.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Dr. Robert Miller (Independent Non-Executive Director) Lord David Willetts (Independent Non-Executive Director) Mr. Louis Castro (Independent Non-Executive Director) Max Inglis (General Counsel) Konrad Dabrowski (CFO) Monica Rios |
| 2 | Reason for the notification | |
| a) | Position/status | See 1 a) above |
| b) | Initial notification / Amendment | Initial notification |
| a) | Name | TEKCAPITAL PLC |
| b) | LEI | 213800GOJTOV19FIFZ85 |
| a) | Description of the financial instrument, type of instrument Identification code | Options over Ordinary Shares of 0.4p each ISIN: GB00BKXGY798 |
| b) | Nature of the transaction | Grant of options over ordinary shares |
| c) | Price(s) and volume(s) | Director/PDMR Price(s) Volume(s) Dr. Robert Miller 11.1p 100,000 Lord David Willetts 11.1p 100,000 Mr. Louis Castro 11.1p 100,000 Max Inglis 11.1p 100,000 Konrad Dabrowski 11.1p 2,000,000 Monica Rios 11.1p 100,000 |
| d) | Aggregated information - Aggregated volume - Price | Director/PDMR Price(s) Volume(s) Dr. Robert Miller 11.1p 100,000 Lord David Willetts 11.1p 100,000 Mr. Louis Castro 11.1p 100,000 Max Inglis 11.1p 100,000 Konrad Dabrowski 11.1p 2,000,000 Monica Rios 11.1p 100,000 |
| e) | Date of the transaction | 28 June 2024 |
| f) | Place of the transaction | Outside a trading venue |
Clifford M. Gross, Ph.D.
| SP Angel Corporate Finance LLP (Nominated Adviser and Broker) | +44 (0) 20 3470 0470 |
| Richard Morrison / Charlie Bouverat (Corporate Finance) | |
| Abigail Wayne / Rob Rees (Corporate Broking) | |
| Flagstaff Strategic and Investor Communications | +44 (0) 20 7129 1474 |
Tim Thompson / Andrea Seymour / Fergus Mellon
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