Last checked at 1 Oct 2015 15:38
Ilika plc
("Ilika" or the "Company")
Grant of Options, Conversion of Preference Shares & Total Voting Rights
Ilika (AIM: IKA), the accelerated materials innovation company, announces that, following the passing of resolutions 6 and 7 at yesterday's Annual General Meeting ("AGM"), Ilika yesterday granted options over 160,000 ordinary shares of 1p each in the Company ("Options") to non-executive directors at an exercise price of 68.75 pence per share, being the closing mid-market price on 29 September 2015. Nominal value options over 1,674,908 ordinary shares of 1p each in the Company have been granted to executive directors.
The Options represent in aggregate 2.79 per cent of the existing issued share capital.
In addition, the Company announces that 50,000 Convertible Preference Shares have today been converted into Ordinary Shares of 1p each in the Company ("Ordinary Shares") on the basis of 1 new Ordinary Share for every 1 Convertible Preference Share. The Company has today applied for admission to trading on AIM ("Admission") of those 50,000 new Ordinary Shares. Admission is expected to occur on 7 October 2015.
The new Ordinary Shares rank pari passu with the Company's existing issued Ordinary Shares. Following this conversion the figure of 65,786,416 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Details of the Options
The following unapproved share options were issued to Directors with each award vesting on the achievement of certain performance targets over a three-year period (details of which were provided in the Notice of AGM):
Director | Number of options granted | Total number of Options now held | Per cent. of current issued share capital |
Mike Inglis | 120,000 | 120,000 | 0.182% |
Keith Jackson | 40,000 | 40,000 | 0.061% |
The following options were issued under the Company's recently approved Long Term Incentive Plan 2015 with each award vesting on the achievement of certain performance targets over a three-year period (details of which were provided in the Notice of AGM, Appendix 1):
Director | Number of options granted | Total number of Options now held | Per cent. of current issued share capital |
Graeme Purdy | 872,727 | 2,330,727 | 3.543% |
Brian Hayden | 527,272 | 1,289,472 | 1.960% |
Steve Boydell | 274,909 | 637,109 | 0.968% |
Graeme Purdy holds 589,427 Ordinary shares representing 0.896% of current issued share capital and Steve Boydell holds 9,090 Ordinary shares representing 0.014% of current issued share capital. Brian Hayden holds 426,300 Preference Shares.
The Notice of AGM can be found here: http://www.ilika.com/images/uploads/general/AGM_notice_final.pdf
For more information contact:
Ilika plc | www.ilika.com |
Graeme Purdy, Chief Executive | Tel: 023 8011 1400 |
Steve Boydell, Finance Director |
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Numis Securities Limited | Tel: 020 7260 1000 |
Oliver Cardigan / James Black / Paul Gillam |
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Walbrook PR Ltd | Tel: 020 7933 8780 / ilika@walbrookpr.com |
Paul McManus | Mob: 07980 541 893 |
Lianne Cawthorne | Mob: 07584 391 303 |