RE: MANGROVE SHORT CLOSED AT 3:30?28 Oct 2024 20:18
This set at 64p speaks confidence;
The Remuneration Committee has also adopted a strategy for discretionary incentives that involves issuing out-of-the-money options to senior management, which are subject to milestone- and/or time-based vesting conditions. The exercise price of the initial option grant, the first for more than two and a half years, is $0.835 (c. 64p at current exchange rates), representing a 290% premium to the share price of 16.56p (as at close on 22nd October 2024). The Company is today making aggregate awards of options over 9,500,000 ordinary shares in the Company ("Ordinary Shares") with the grants to PDMRs disclosed below.