Last checked at 30 Aug 2018 07:00
Versarien plc
("Versarien" or the "Company")
Award of Share Options to Directors
Versarien plc (AIM: VRS), the advanced materials engineering group, announces that the Board has issued options over an aggregate of 5,339,232 ordinary shares of 1 pence each in the Company ("Share Options"), as approved by the Company's Remuneration Committee, as detailed below. The Share Options represent 3.6 per cent of the Company's current issued share capital.
Neill Ricketts, Chief Executive Officer, and Christopher Leigh, Chief Financial Officer, have each been awarded 2,669,616 Share Options under the Company's Employee Share Option Plan 2013. The Share Options will vest and may be exercised on the following basis:
· One-third on or after 30 August 2021 ("Vesting Period 1");
· One-third on or after 30 August 2022 ("Vesting Period 2"); and
· One-third on or after 30 August 2023 ("Vesting Period 3").
The exercise price for the Share Options is 152p.
The Share Options may be exercised provided that the Company's average share price in the 30 days prior to exercise is not less than 183p prior to Vesting Period 1 exercise, 213p prior to Vesting Period 2 exercise and 244p prior to Vesting Period 3 exercise.
Following the grant of the Share Options, Neill Rickets is interested in 15,250,000 Versarien ordinary shares, representing 10.26 per cent of the Company's issued share capital and options over a further 6,346,991 ordinary shares. Christopher Leigh is interested in 315,000 Versarien ordinary shares, representing 0.21 per cent of the Company's issued share capital and options over a further 6,346,991 ordinary shares.
The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation is appended below.
Enquiries:
Versarien Neill Ricketts, CEO Chris Leigh, CFO | 01242 269 122 |
Arden Partners (Nominated Adviser and Broker) Chris Hardie Dan Gee-Summons | 020 7614 5900 |
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Heather Armstrong | 020 3934 6630 |
The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||
a) | Name | Neill Ricketts | ||||||||
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 | Versarien plc | ||||||||
b) | LEI | 213800D6NZED7V8W2Z34 | ||||||||
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 | Options over Ordinary shares of 1p each
GB00B8YZTJ80 | ||||||||
b) | Nature of the transaction | Grant of Options | ||||||||
c) | Price(s) and volume(s) |
| ||||||||
d) | Aggregated information - Aggregated volume - Price |
2,669,616 n/a | ||||||||
e) | Date of the transaction | 30 August 2018 | ||||||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||
a) | Name | Christopher Leigh | ||||||||
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 | Versarien plc | ||||||||
b) | LEI | 213800D6NZED7V8W2Z34 | ||||||||
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 | Options over Ordinary shares of 1p each
GB00B8YZTJ80 | ||||||||
b) | Nature of the transaction | Grant of Options | ||||||||
c) | Price(s) and volume(s) |
| ||||||||
d) | Aggregated information - Aggregated volume - Price |
2,669,616 n/a | ||||||||
e) | Date of the transaction | 30 August 2018 | ||||||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||||||