Grant of Options
Ten Technologies Group plc has granted options over Ordinary Shares to four persons discharging managerial responsibilities, including the CEO, Group COO, CFO, and Chief Proposition Officer. Each individual received 15,000 CSOP Options at an exercise price of £0.96, with these options becoming exercisable after three years, subject to certain conditions. This move is intended to align management's long-term interests with those of shareholders, as any gain is contingent on the share price increase over the three-year period.
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Ten Technologies Group plc (AIM: TENG), announces that it has granted options over Ordinary Shares to certain 'persons discharging managerial responsibilities' of the Company ("PDMRs"), pursuant to the Ten Technologies Group Plc Company Share Option Plan dated 24 August 2017 ("CSOP Options").
| PDMR | Position | Number of new CSOP Options granted | Resulting total options held over Ordinary Shares |
|---|---|---|---|
| Alex Cheatle | CEO | 15,000 | 1,388,514 |
| Andrew Long | Group COO | 15,000 | 763,532 |
| Alan Donald | CFO | 15,000 | 656,514 |
| Victoria Carvalho | Chief Proposition Officer | 15,000 | 338,016 |
The CSOP Options become exercisable after three years, subject to certain conditions, including appropriate bad leaver conditions. The Remuneration Committee believes that granting CSOP Options is aligned with the Company's strategic goals and the long-term interests of shareholders, as any gain from the exercise of CSOP options is subject to the relative increase in the share price over the three-year period.
The notification below, made in accordance with the Market Abuse Regulation, provides further details in relation to the granting of these options.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a. | Name | 1. Alex Cheatle 2. Andrew Long 3. Alan Donald 4. Victoria Carvalho |
| 2. | Reason for the notification | |
| a. | Position/status | 1. CEO 2. Group COO 3. CFO 4. Chief Proposition Officer |
| b. | Initial notification /Amendment | Initial notification |
| a. | Name | Ten Technologies Group plc |
| b. | LEI | 213800YK94ZUOJUMN686 |
| a. | Description of the Financial instrument, type of instrument Identification code | Options over Ordinary Shares of 0.1 pence GB00BF188X60 |
| b. | Nature of the transaction | Grant of options under the Company Share Option Plan |
| c. | Price(s) and volume(s) | Price(s) Volume(s) 1. Exercise price of £0.96 15,000 2. Exercise price of £0.96 15,000 3. Exercise price of £0.96 15,000 4. Exercise price of £0.96 15,000 |
| d. | Aggregated information · Aggregated volume · Price | Price(s) Volume(s) 1. Exercise price of £0.96 15,000 2. Exercise price of £0.96 15,000 3. Exercise price of £0.96 15,000 4. Exercise price of £0.96 15,000 |
| f. | Place of the transaction | Outside a trading venue |
| Ten Technologies Group plc Alex Cheatle, Chief Executive Officer Alan Donald, Chief Financial Officer | +44 (0)20 7850 2796 | |
| Singer Capital Markets Advisory LLP, Nominated Advisor and Broker Corporate Finance: James Moat, Anastassiya Eley Corporate Broking: Charles Leigh-Pemberton | +44 (0) 20 7496 3000 |
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