Share Options3 Sep 2025 12:02
Copied from poster the other day:
Share Options
The Company intends to award share options to retain and incentivise the Directors and employees. The number of share options granted will be up to 25 per cent. of the issued share capital as enlarged by the Fundraise. These options will vest subject to stretching performance targets and will vest and exercise as follows:
(a) 33% on the share price having remained at or above 7 times the Issue Price for at least 3 months and exercisable 6 months following vesting;
(b) 33% on the share price having remained at or above 10 times the Issue Price for at least 3 months and exercisable 12 months following vesting; and
(c) 33% on the share price having remained at or above 12.5 times the Issue Price for at least 3 months and exercisable 24 months following vesting.
All in the money share options would vest in the event that the Company is acquired (or in the event of that a person or group shall have acquired or entered into a definitive binding agreement to acquire more than 50% of the issued share capital of the Company or assets of the Company or its subsidiaries representing more than 50% of the consolidated earning power of the Company and its subsidiaries taken as a whole).
The options will have an exercise price equal to the Issue Price.
The award of these options will be a related party transaction under the AIM Rules and will therefore be subject to the independent directors considering the terms of the options and reaching an opinion, having consulted with SPARK, as its nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned. It is currently envisaged that these options will be awarded following the Second Admission.
In October 2023 share options were awarded to Directors and staff with an exercise price of 1 penny. Awardees of that option scheme will forfeit their share options on acceptance of this latest award.
The issue price was .2 so options at 1.4, 2.0 and 2.5
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