At directors options level now18 Nov 2016 15:35
All of the Options are evergreen, meaning that the percentage of the fully diluted issued share capital held under option will remain constant, notwithstanding any further issues of ordinary shares in the capital of the Company. The options are being awarded under a variety of schemes, both approved and unapproved. All of the options are subject to vesting criteria whereby the average price of an ordinary share must exceed 60 pence, and in some cases 80 pence, for a 10 day period between the second and third anniversaries of 1 April 2015. If these targets are not met, extended targets compounding at 12% per annum are in place between the third and sixth anniversaries.
If the average price of an ordinary share does not reach or exceed the targets above then the Option shall lapse.
On 23 December 2015, options over 331,125 ordinary share were awarded to Carolyn Bell. The options vest after three years at an exercise price of 75.5p.
Bell gone of course, and we have no details of Mr. Dickinson's.
MXC options, which replaced warrants, exercisable 50/50 at 50p and 60p