Options and warrants outstanding24 May 2015 00:43
Interesting existing warrants exercisable from 0.6p to 1.2p if exercised could give us a nice cash boost going forward .
Any decent news or multiple contracts / extensions could quite easily push us into warrant territory !
Also to set the directors options at the levels they have is very encouraging imo .
Something's coming our way ,the question is what could it be to propel us into director option range ?
The Options will vest over a two year period as to one third on the Grant Date and one third on the first and second anniversaries of the Grant Date respectively.
All Options granted are also subject to satisfaction of certain performance criteria, being: (i) the closing mid-market price of an ordinary share being 1.5 pence or above over a continuous 60 day trading period prior to exercise; and (ii) the Company reporting audited pre-tax profits in excess of £1.0 million for the year ended 31 December 2015 and £1.75 million for the year ended 31 December 2016. The Options only become exercisable when the performance criteria have been met and expire on the 3rd anniversary of the Grant Date.
Following the grant of the Options the total number of options outstanding to subscribe for new ordinary shares in the Company, as at the date of this announcement, is 35,125,000 representing 8.83% of the Company's current issued share capital of which 29,125,000, representing 7.32% of the Company's current issued share capital, are held by existing directors of Totally. In addition, as at the date of this announcement, there are warrants outstanding to subscribe for 142,763,001 new ordinary shares in the Company, equivalent to 35.90 per cent. of the current issued share capital of the Company, which are exercisable at exercise prices ranging from 0.6 pence to 1.2 pence.
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