15 Feb 2017 07:00
15 February 2017
LightwaveRF plc
(AIM: LWRF)
Grant of Options
LightwaveRF plc ("LightwaveRF" or the "Company"), the proprietary IOT and connected devices specialist enabling the remote control and monitoring of light, heat, power and security through just one app, announces that it has granted to each of Kevin Edwards and John Shermer, Executive Directors of the Company, 400,000 share options at an exercise price of 13 pence per share in accordance with the Company's EMI Share Option Scheme.
The share options are exercisable after three years provided the price of the Company's ordinary shares meets or exceeds 40 pence per share.
In addition, a further 250,000 options in aggregate have been awarded to three other employees on the same terms.
Following this award, Mr Edwards holds in aggregate options over 500,000 ordinary shares as detailed below.
No. of options | Exercise price | Trigger price for exercise | Date from which exercisable |
100,000 | 29p | 80p | 31/03/2018 |
400,000 | 13p | 40p | 14/02/2020 |
Following this award, Mr Shermer holds in aggregate options over 600,000 ordinary shares as detailed below.
No. of options | Exercise price | Trigger price for exercise | Date from which exercisable |
200,000 | 28p | 80p | 30/09/2018 |
400,000 | 13p | 40p | 14/02/2020 |
Contacts: | ||
LightwaveRF plc | www.lightwaveRF.com | |
Mike Lord, CEO Kevin Edwards, CFO | +44 (0) 121 250 3625 | |
WH Ireland Limited | www.whirelandplc.com | |
Mike Coe/Ed Allsopp (Corporate Finance) | +44 (0) 117 945 3470 |
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Jasper Berry (Institutional Sales) | +44 (0) 20 7220 1666 |
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The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on shares acquired.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Kevin Edwards | ||||
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 | LightwaveRF 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
Identification code | Ordinary shares of 5p each
GB00BKJ9BV58 | ||||
b) | Nature of the transaction | Grant of options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
400,000 £52,000 | ||||
e) | Date of the transaction | 14 February 2017 | ||||
f) | Place of the transaction | N/A | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | John Shermer | ||||
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 | LightwaveRF 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
Identification code | Ordinary shares of 5p each
GB00BKJ9BV58 | ||||
b) | Nature of the transaction | Grant of options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
400,000 £52,000 | ||||
e) | Date of the transaction | 14 February 2017 | ||||
f) | Place of the transaction | N/A | ||||