Last checked at 29 Jun 2017 15:15
29 June 2017
Starcom Plc
("Starcom" or "the Company")
Grant of options
Starcom (AIM: STAR), which specialises in the development of wireless solutions for the remote tracking, monitoring and protection of a variety of assets and people, is pleased to announce that options have been granted under the Starcom PLC 2016 Global Share Option Plan over a total of 16,093,680 Ordinary Shares (representing 8 per cent. of the Company's issued share capital) ("the Options") as follows:
Grantee | Number of Options | Percentage of issued share capital |
Avi Hartmann | 4,023,420 | 2 |
Avi Engel | 2,011,710 | 1 |
Michael Rosenberg | 2,011,710 | 1 |
Uri Hartmann | 4,023,420 | 2 |
Doron Kedem | 4,023,420 | 2 |
The options are exercisable at a price of 2.5p per share, representing a premium of approximately 54 per cent. to yesterday's mid market closing price of 1.625p per share. The options vest as to 50 per cent. one year after grant and, as to the balance, two years after grant. Any unexercised options expire at the end of 10 years from grant.
Related party transaction
The grant of the Options is a related party transaction under AIM Rule 13. Udi Shenig, the sole independent director, having consulted with the Company's Nominated Adviser, Northland Capital Partners Limited, considers that the terms of the grant of Options are fair and reasonable insofar as the Company's shareholders are concerned.
END
For further information, please contact:
Starcom Plc |
|
Michael Rosenberg, Chairman | 07785 727 595 |
Avi Hartmann, CEO | +972 5430 70103 +972 3619 9901
|
Northland Capital Partners Limited | 020 3861 6625 |
Nominated Adviser and Broker
Edward Hutton / David Hignell (Corporate Finance)
John Howes (Sales and Broking)
|
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Peterhouse Corporate Finance Limited Joint Broker
Lucy Williams / Charles Goodfellow / Eran Zucker
| 020 7469 0930 |
Leander PR Financial PR Christian Taylor-Wilkinson | 020 7520 9267 07795 168 157 |
This announcement contains inside information. The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.
1 | Details of the persons discharging managerial responsibilities I person closely associated | |||||||||
a) | Name | 1. Avi Hartmann 2. Avi Engel 3. Michael Rosenberg 4. Uri Hartmann 5. Doron Kedem | ||||||||
2 | Reason for the notification | |||||||||
a) | Position/status | 1. Chief Executive 2. Non-executive director 3. Non-executive Chairman 4. Chief Technical Officer 5. Chief Operating Officer | ||||||||
b) | Initial notification /Amendment | Initial notification | ||||||||
3 | Details of the issuer | |||||||||
a) | Name | Starcom plc | ||||||||
b) | LEI | 213800XVU7WF3QMF4826 | ||||||||
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 no par value | ||||||||
Identification code | ISIN for Ordinary Shares: JE00B8WSDY21 | |||||||||
b) | Nature of the transaction | Grant of options | ||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price
| - Options over 16,093,680 shares - 2.5p per share (exercise price) | ||||||||
e) | Date of the transaction | 29 June 2017 | ||||||||
f) | Place of the transaction | Outside a trading venue. Shares issued on exercise of options to be admitted to trading on AIM, London Stock Exchange
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