Last checked at 16 Aug 2016 15:09
16 August 2016 |
Hardide plc
("Hardide" or "the Group" or "the Company")
Grant of Options
Hardide (AIM: HDD), the provider of advanced surface coating technology, announces that in order to continue to incentivise them appropriately, it has today granted share options to its Chairman, Chief Executive Officer, Finance Director and Technical Director under its Share Option Plan (the "New Options"). The New Options are over a total of 36,000,000 new Ordinary shares with a nominal value of 0.1p each in the capital of the Company ("Ordinary Shares") and at an exercise price of 0.8p each, that being the price of the Subscription previously announced on 9th August 2016. The New Options have been granted as follows:
Director | New Options granted | Total number of options following the grant of New Options | Interest in existing issued Ordinary Shares |
Robert Goddard, Chairman | 6,000,000 | 16,181,000 | 6,723,050 |
Philip Kirkham, Chief Executive Officer* | 20,000,000 | 40,000,000 | 2,004,717 |
Peter Davenport, Finance Director* | 3,500,000 | 12,351,000 | 4,376,667 |
Dr Yuri Zhuk, Technical Director* | 6,500,000 | 18,351,000 | 6,281,132 |
*Executive Director
The New Options will, subject to the satisfaction of certain performance conditions, vest in full immediately once the Board has determined that such criteria have been met. In accordance with the scheme rules, the options must be exercised within ten years of being granted but will lapse if the vesting criteria are not met. For the avoidance of doubt these options will be granted only once and not in respect of each year in which the vesting criteria are met. In summary the vesting criteria are:
i) The Company is EBITDA positive in any one of the full financial years to 30th September of 2017, 2018 or 2019;
ii) The closing mid-market price of the Company's Ordinary Shares reaches 2.5p within twelve months of the relevant financial year end set out in point i) above; and
iii) Both of the criteria in i) and ii) above are met
The New Options will also vest in full in the event of a change of control.
In aggregate, the New Options represent 2.57% of the existing Ordinary share capital of the Company and following the grant of the New Options, the Company has a total of 116,759,600 unexercised options pursuant to its Share Option Plan. This amounts to approximately 8.34% of the existing issued Ordinary share capital of the Company of 1,400,691,804 shares.
The information in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
For further information: | |
Hardide plc Philip Kirkham, CEO Jackie Robinson, Communications Manager | Tel: +44 (0) 1869 353 830
|
finnCap Stuart Andrews / Grant Bergman / James Thompson |
Tel: +44 (0)20 7220 0500 |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Robert Goddard | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Chairman | ||||
b) | Initial notification/Amendment | Initial Notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Hardide plc | ||||
b) | LEI | n/a | ||||
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 | Options over ordinary shares of 0.1p each | ||||
Identification code | GB00B069T034 | |||||
b) | Nature of the transaction | Grant of Options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price |
6,000,000 options over ordinary shares of 0.1 pence granted at 0.8 pence per ordinary share | ||||
e) | Date of the transaction | 16 August 2016 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market | ||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
5. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Philip Kirkham | ||||
6. | Reason for the Notification | |||||
a) | Position/status | Chief Executive Officer | ||||
b) | Initial notification/Amendment | Initial Notification | ||||
7. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Hardide plc | ||||
b) | LEI | n/a | ||||
8. | 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 | Options over ordinary shares of 0.1p each | ||||
Identification code | GB00B069T034 | |||||
b) | Nature of the transaction | Grant of Options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price |
20,000,000 options over ordinary shares of 0.1 pence granted at 0.8 pence per ordinary share | ||||
e) | Date of the transaction | 16 August 2016 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market | ||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
9. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Peter Davenport | ||||
10. | Reason for the Notification | |||||
a) | Position/status | Finance Director | ||||
b) | Initial notification/Amendment | Initial Notification | ||||
11. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Hardide plc | ||||
b) | LEI | n/a | ||||
12. | 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 | Options over ordinary shares of 0.1p each | ||||
Identification code | GB00B069T034 | |||||
b) | Nature of the transaction | Grant of Options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price |
3,500,000 options over ordinary shares of 0.1 pence granted at 0.8 pence per ordinary share | ||||
e) | Date of the transaction | 16 August 2016 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market | ||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
13. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Dr Yuri Zhuk | ||||
14. | Reason for the Notification | |||||
a) | Position/status | Technical Director | ||||
b) | Initial notification/Amendment | Initial Notification | ||||
15. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Hardide plc | ||||
b) | LEI | n/a | ||||
16. | 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 | Options over ordinary shares of 0.1p each | ||||
Identification code | GB00B069T034 | |||||
b) | Nature of the transaction | Grant of Options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price |
6,500,000 options over ordinary shares of 0.1 pence granted at 0.8 pence per ordinary share | ||||
e) | Date of the transaction | 16 August 2016 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market | ||||