28 Mar 2019 07:00
Maistro plc
(the "Company")
Surrender and Grant of Share Options
The Company announces that, following approval by the Company's Remuneration Committee, certain share options in issue have been surrendered and new share options granted with an exercise price of £0.0125 in order to align incentivisation with current share price levels.
The table below sets out the impact of the surrender and grant of share options to PDMRs:
No of share options surrendered | Date of grant | Previous exercise price | No of new share options granted | exercise price | |
Laurence Cook | 4,412,785 562,500 | 20/09/2017 12/12/2017 | £0.04375 £0.06500 | 9,213,174 | £0.0125 |
Ian Cleverly | 1,770,928 | 19/04/2018
| £0.04000 | 3,071,057 | £0.0125 |
Mark O'Shea | 70,000 35,000 750,000 840,000 | 15/10/2015 18/12/2015 20/09/2017 12/12/2017 | £0.30000 £0.18000 £0.04375 £0.06500 | 2,939,387 | £0.0125 |
The number of outstanding share options in the Company held by the above PDMRs totals 16,758,342 (including 1,534,724 share options granted to Ian Cleverly in January 2019 which have not been surrendered), representing 4.18% of the Company's issued share capital. The vesting period and performance condition of the above options remains unchanged.
For the avoidance of doubt, options granted to David Rowe at the time of the August 2017 placing which form part of his incentive-based remuneration package are excluded from the above table.
Enquiries:
Maistro plc | |
David Rowe (Chairman) | +44 (0)800 048 8664 |
Laurence Cook | |
N+1 Singer (Nominated Adviser and Broker) | +44 (0)20 7496 3000 |
Shaun Dobson/James White (Corporate Finance) | |
Tom Salvesen/Mia Gardner (Corporate Broking) | |
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Laurence Cook | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Executive Officer | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Maistro plc | ||||
b) | LEI | 213800TX3CITOTF2SE60 | ||||
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 | Share options over ordinary shares of 1 penny each ISIN for ordinary shares GB00B8DX2616 | ||||
b) | Nature of the transaction | Surrender of 4,975,285 share options Grant of new share options for nil consideration | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
| n/a - single transaction | ||||
e) | Date of the transaction | 26 March 2019 | ||||
f) | Place of the transaction | Outside of a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Ian Cleverly | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Financial Officer | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Maistro plc | ||||
b) | LEI | 213800TX3CITOTF2SE60 | ||||
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 | Share options over ordinary shares of 1 penny each ISIN for ordinary shares GB00B8DX2616 | ||||
b) | Nature of the transaction | Surrender of 1,770,928 share options Grant of new share options for nil consideration | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
| n/a - single transaction | ||||
e) | Date of the transaction | 26 March 2019 | ||||
f) | Place of the transaction | Outside of a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Mark O'Shea | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Chief Technical Officer (PDMR) | ||||||
b) | Initial notification/Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Maistro plc | ||||||
b) | LEI | 213800TX3CITOTF2SE60 | ||||||
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 | Share options over ordinary shares of 1 penny each ISIN for ordinary shares GB00B8DX2616 | ||||||
b) | Nature of the transaction | Surrender of 1,695,000 share options Grant of new share options for nil consideration | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information
| n/a - single transaction | ||||||
e) | Date of the transaction | 26 March 2019 | ||||||
f) | Place of the transaction | Outside of a trading venue | ||||||