Last checked at 30 Jun 2016 07:30
30 June 2016
Tekcapital plc
("Tekcapital" or "the Company")
Grant of Share Options
The Board of Tekcapital plc (AIM: TEK), an international provider of technology and intellectual property services, announces the grant of 700,000 options to subscribe for new ordinary shares of 0.4 pence each in the Company ("Ordinary Shares") (the "Options").
The Options were granted on 29 June 2016 (the "Grant Date") under the Company's EMI Share Option Scheme ("EMI") and Unapproved Share Option Plan ("Non-EMI"). 400,000 of these Options have been issued to certain directors, with the balance issued to employees and other recently engaged Vortechs Group associates to the Company.
The Options have an exercise price of 37.5p per share, being the closing mid-market price of Ordinary Shares on 28 June 2016. The Options granted to directors and employees vest over a three year period in equal tranches from the Grant Date, but vest immediately if the mid-market price of Ordinary Shares is maintained at or above £1.00 for ten consecutive trading days. The Options granted to Vortechs Group associates vest on meeting certain financial targets over three years. All of the Options will expire on the fifth anniversary of the Grant Date.
Following the grant of the Options the total number of options outstanding to subscribe for new ordinary shares in the Company is 3,210,000, representing 9.06% of the Company's current issued share capital.
The Options issued to directors are detailed below:
Name | Current number of options held | Number of Options granted | Option Type | Total number of Options now held | Percentage of current issued share capital |
Malcolm Groat | 200,000 | 100,000 | EMI | 300,000 | 0.85% |
Robert Miller | 120,000 | 100,000 | Non-EMI | 220,000 | 0.62% |
Bill Payne | 195,000 | 100,000 | Non-EMI | 295,000 | 0.83% |
Susan Greenfield | 150,000 | 100,000 | Non-EMI | 250,000 | 0.71% |
Total | 665,000 | 400,000 | 1,065,000 | 3.01% |
For further information please contact:
Tekcapital Plc | +1 305 200 3450 Ext 305 |
Clifford M. Gross | info@tekcapital.com |
Allenby Capital Limited (Nominated Adviser & Joint Broker) | +44 (0)20 3394 2972 |
Jeremy Porter / Alex Brearley / Richard A Short | |
Optiva Securities Limited (Joint Broker) | +44 (0) 20 3137 1904 |
Jeremy King / Vishal Balasingham | jeremy.king@optivasecurities.com |
Walbrook PR Ltd | +44 (0) 20 3727 1000 |
Paul Cornelius / Paul McManus / Helen Cresswell | tekcapital@fticonsulting.com |
Tekcapital plc - The World's Largest University Network for Open Innovation
Tekcapital helps clients profit from new, university-developed intellectual properties. With our proprietary discovery search engine, linked to 4,000+ universities in 160 countries, coupled with expert scientific review, we provide a turn-key service to make it easy for clients to find and acquire the IP, analytics and technology transfer professionals they need to create a competitive advantage. Tekcapital plc is listed on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in Oxford, in the UK. For more information, please visit www.tekcapital.com