RE: Re Neil's Tweet23 Apr 2019 20:18
Versarien plc (AIM: VRS), the advanced materials engineering group, announces that the Board has issued options over an aggregate of 5,339,232 ordinary shares of 1 pence each in the Company ("Share Options"), as approved by the Company's Remuneration Committee, as detailed below. The Share Options represent 3.6 per cent of the Company's current issued share capital.
Neill Ricketts, Chief Executive Officer, and Christopher Leigh, Chief Financial Officer, have each been awarded 2,669,616 Share Options under the Company's Employee Share Option Plan 2013. The Share Options will vest and may be exercised on the following basis:
· One-third on or after 30 August 2021 ("Vesting Period 1");
· One-third on or after 30 August 2022 ("Vesting Period 2"); and
·
One-third on or after 30 August 2023 ("Vesting Period 3").
The exercise price for the Share Options is 152p.
The Share Options may be exercised provided that the Company's average share price in the 30 days prior to exercise is not less than 183p prior to Vesting Period 1 exercise, 213p prior to Vesting Period 2 exercise and 244p prior to Vesting Period 3 exercise.