Larrys options21 May 2018 17:43
17 August 2017
Kennedy Ventures plc
Grant of Share Options
Kennedy Ventures plc ("Kennedy Ventures" or "the Company"), the AIM quoted investment company, who through its stake in African Tantalum (Pty) Limited ("Aftan") has an interest in the Namibia Tantalite Investments mine (historically referred to as the Tantalite Valley Mine) in Namibia, announces that on 17 August 2017, the Board granted options ("Options") to Larry Johnson, over 10,000,000 new ordinary shares of 1p each ("Ordinary Shares"), exercisable at 6p per Ordinary Share. The Options represent 3.98 per cent of the current issued share capital.
The Options will vest over a three-year period, 3,300,000 in 2018 and 2019 and 3,400,000 in 2020 and are subject to certain performance related conditions.
Director
Options Granted
Vesting Date
Expiry Date
Exercise Price (per Ordinary Share)
Larry Johnson
3,300,000
17 August 2018 Vesting
17 August 2021 Expiry
6p
3,300,000
17 August 2019
17 August 2022
6p
3,400,000
17 August 2020
17 August 2023
6p
Total
10,000,000
I presume vesting date is when he can exercise the options from and expiry date is cut off?
Has he got 3 years from 17th August to get the share price up well above 6p?
and he buys the shares for 6p out of his own pocket which he's unlikely to do unless the sp is well above 6p?