21 Dec 2018 13:53
LONDON STOCK EXCHANGE (LSE): GAN | IRISH STOCK EXCHANGE (ISE): GAME
GAN Announces Exercise of Options
London & Dublin | December 21, 2018: GAN plc ("GAN" or the "Company"), announces today the exercise of options by Mr. Dermot Smurfit, Chief Executive Officer, who exercised 200,000 stock options on December 11, 2018 to acquire new ordinary shares at an exercise price of 25p per new ordinary share at a total cost of £50,000 which was subsequently received by the Company on December 21, 2018.
Management Commentary
Dermot Smurfit, CEO of GAN commented:
"As the Company's CEO, a major long-term shareholder and substantial holder of options over additional ordinary shares, I expect to continue to invest in GAN through progressive future exercises of vested share options."
After the transaction, Mr. Smurfit holds a total of 8,863,447 ordinary shares in the Company, representing 10.42% of the Company's total issued share capital. Mr. Smurfit currently holds vested stock options to exercise and acquire up to an additional 416,564 new ordinary shares as per the company's 2017 Stock Options Plan together with a further 1,229,436 which have yet to vest.
The total number of extant options over ordinary shares issued to the Directors is 2,346,000 and represents 2.76% of the issued share capital of 80,051,924 ordinary shares.
About GAN Plc
GAN is a leading business-to-business ("B2B") supplier of internet gambling software-as-a-service solutions ("SaaS") to the US land-based casino industry. The Company has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses principally to land-based US casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming.
GAN is listed on the London Stock Exchange (LSE: GAN) and on the Irish Stock Exchange (ISE: GAME).
For more information please visit www.GAN.com.
For further information please contact:
GAN | US Investors: The Equity Group |
Dermot Smurfit | Adam Prior |
Chief Executive Officer | aprior@equityny.com |
+44 (0) 20 7292 6262 | 212.371.8660 |
dsmurfit@GAN.com | |
UK & Ireland Investors: Walbrook PR | |
Paul Cornelius | |
GAN@WalbrookPR.com | |
+44 20 7933 8780 |
Davy (Nominated Adviser, ESM Adviser and Joint Broker) | ||
John Frain / Barry Murphy | ||
+353 1 679 6363 | ||
Liberum (Joint Broker) | ||
Neil Patel / Cameron Duncan | ||
+44 (0) 20 3100 2000 |
December 21, 2018
NOTIFICATION OF TRANSACTION OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Dermot S Smurfit | |
2 | Reason for the notification | ||
a) | Position/status | Director | |
b) | Initial notification /Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | GAN plc | |
b) | LEI | 2138001N8LI2LJNN6X75 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares
ISIN: GB00BGCC6189 | |
b) | Nature of the transaction | Exercise of options | |
c) | Price(s) and volume(s) | 25p | 200,000 |
d) | Aggregated information - Aggregated volume
- Price |
200,000
£50,000 | |
e) | Date of the transaction | December 11, 2018
| |
f) | Place of the transaction | London, UK | |