24 Jul 2014 07:00
Byotrol plc
GRANT OF OPTIONS
The Board of Byotrol plc ('Byotrol' or 'the Company'), the leading AIM listed anti-microbial technology company, announces that it has granted a total of 7,250,000 options over the Company's ordinary shares of 0.25 pence each ("Options" and "Ordinary Shares" respectively), representing 3.22 per cent of the issued share capital of the Company** to three directors, set out below, upon the recommendation of the Company's Remuneration Committee.
No. of New Options Granted | No. of Options held post Grant | Shareholding in Company post placing ** | % Shareholding in Company post placing ** | % Shareholding in Company post placing and conversion of loan notes *** | |
Nicholas Martel | 2,250,000 | 2,250,000 | 20,693,513 * | 9.20 | 9.34 |
Till Medinger | 500,000 | 500,000 | 1,010,521 | 0.45 | 0.72 |
David Traynor | 4,500,000 | 4,500,000 | 4,696,668 | 2.09 | 2.49 |
These Options are exercisable at 3.5 pence per Ordinary Share between 24 July 2015 and 24 January 2022, subject to satisfaction of the following performance conditions:
· 40 per cent of the granted Options (2,900,000 Options) will be exercisable only between 24 July 2015 and 24 January 2018 if the Company's share price has reached 5 pence per Ordinary Share and remained so for 30 consecutive days between 24 July 2014 and 24 July 2017.
· 30 per cent of the granted Options (2,175,000 Options) will be exercisable only between 24 July 2015 and 24 January 2020 if the Company's share price has reached 7.5 pence per Ordinary Share and remained so for 30 consecutive days between 24 July 2014 and 24 July 2019.
· 30 per cent of the granted Options (2,175,000 Options) will be exercisable only between 24 July 2015 and 24 January 2022 if the Company's share price has reached 10 pence per Ordinary Share and remained so for 30 consecutive days between 24 July 2014 and 24 July 2021.
David Traynor does not have a cash bonus scheme for the financial year ending 31 March 2015. The options for David Traynor are being granted in the Company's Enterprise Management Incentive Scheme and the options for Nicholas Martel and Till Medinger are being granted in the Company's Unapproved Scheme.
Till Medinger has relinquished his previous holding of 200,000 Options.
*includes a non-beneficial interest in 17,693,513 Ordinary Shares
** assumes the approval of the Company's fundraising (as announced on 25 June 2014) by shareholders at the Annual General Meeting to be held on 29 July 2014 and consequent issue of the Placing Shares and Subscription Shares (as defined in the announcement of 25 June 2014)
*** The Company issued £380,000 of loan notes ("Loan Notes") on 20 December 2013 to the Directors and other parties. The Loan Notes have a term of three years with a coupon of 10% per annum. Following the issue of the Placing Shares and Subscription Shares, the Loan Notes will be convertible into Ordinary Shares at a price of 4.45p per Ordinary Share.
Enquiries:
Byotrol plc | 01925 742 000 |
David Traynor - Chief Executive Dawn Williams | |
finnCap Ltd | 020 7220 0500 |
Geoff Nash | |
Christopher Raggett | |
Notes to Editors:
Byotrol plc (BYOT.L), quoted on AIM, is a leading anti-microbial technology company, operating globally in the Food, Industrial, Healthcare and Consumer sectors, providing a low toxicity product with a broad-based and long-lasting efficacy across all microbial classes; bacteria, viruses, fungi, moulds, mycobacteria and algae.
Powerful, long-lasting and gentle, Byotrol's products can be used stand alone or as an ingredient within existing products, where Byotrol can significantly improve their performance in personal hygiene, domestic and industrial disinfection, odour control, food production and food management.
Founded in 2005, the Company has developed the technology that creates easier, safer and cleaner lives.
For more information, please go to www.byotrol.co.uk