CEO Appointment, Grant of Options and RPT
Windar Photonics plc announces that Andreas Berg Nielsen has commenced as Chief Executive Officer and has been granted options over 2,554,191 ordinary shares at an exercise price of 27.25 pence per share, vesting over six years. This grant, along with his remuneration, constitutes a related party transaction, which the independent directors deem fair and reasonable for shareholders.
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Windar Photonics plc (AIM: WPHO), the technology group that has developed a LiDAR-assisted monitoring and optimisation solution across multiple wind turbine platforms, confirms that Andreas Berg Nielsen has commenced employment as Chief Executive Officer of the Company with effect from 1 June 2026, as previously announced on 21 April 2026.
Grant of Options
Andreas has been granted options over 2,554,191 ordinary shares of £0.01 each in the Company (the "Options"). The Options have an exercise price of 27.25 pence per share, being the closing mid-market price on 29 May 2026, the last banking day prior to his date of commencement. The Options vest in equal thirds at the end of years four, five and six from the date of grant, based on continued employment, and are subject to good/bad leaver provisions consistent with market practice.
Related Party Transaction
The Options and remuneration package to Andreas Berg Nielsen, as a director of the Company, constitutes a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. The independent directors of the Company, being David Lis, Paul Hodges, Soren Nielson and Gavin Manson, consider that the terms of the grant are fair and reasonable insofar as the shareholders of the Company are concerned.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Andreas Berg Nielsen |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Windar Photonics Plc |
| b) | LEI | 2138003JZZMKJGOOCR02 |
| a) | Description of the financial instrument, type of instrument Identification code | Options to subscribe for ordinary shares of £0.01 ISIN: GB00BTFR4F17 |
| b) | Nature of the transaction | Issue of options |
| c) | Price(s) and volume(s) | Price(s) Volume(s) Nil 2,554,191 |
| d) | Aggregated information - Aggregated volume - Price | |
| e) | Date of the transaction | 29 May 2026 |
| f) | Place of the transaction | London Stock Exchange |
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