RE: Rns3 Jan 2017 15:10
These options are exercisable at 35p per share and vest over a three year period with 40 per cent. at the end of the first year, a further 30 per cent. at the end of the second year and the final 30 per cent. at the end of the third year. It is the stated objective of the new Board that their interests will be strongly aligned with shareholders, being well rewarded only in the event of significant shareholder value creation in the medium to long term.
The remaining 4,750,000 options are reserved at strike prices to be determined, in order to provide equity incentive to attract further proven international talent to the Company as it develops.