11 Jul 2017 08:23
11 July 2017
RM2 International S.A.
("RM2" or the "Company")
Award of Restricted Shares and Options to New CEO and management
RM2 International S.A., the sustainable composite pallet innovator, announces the award of restricted ordinary shares of USD0.01 each ("Ordinary Shares") to its executive directors and options over its Ordinary Shares under its 2013 Stock Option and Incentive Plan to its new CEO on July 6, 2017. The options have an exercise price of 13.8p, being the volume weighted average mid-market closing share price over the five trading days from 29 June to 5 July 2017 inclusive (the "Options"). The Options will vest and the restricted shares will become freely tradeable on the earlier of (i) the third anniversary of their grant date or (ii) the change of control or takeover of the Company by a third-party. The Options will not be exercisable and the restricted Ordinary Shares will be restricted from sale until such time as the volume-weighted average quoted share price equals or exceeds for thirty days the lower of (i) 50p or (ii) 2.5 times the offering price of an Ordinary Share placement (the "Vesting Conditions"). A further 2,000,000 restricted Ordinary Shares with the same Vesting Conditions were awarded to a key employee.
The number of equity awards for the Executive Directors are set out below:
Name of Executive Director | Award | |
| Restricted Shares | Options |
Jasper Judd, CEO | 2,500,000 | 10,000,000 |
Jeff Blouvac, CFO | 1,500,000 |
|
Separately, 19,000 restricted Ordinary Shares issued under the 2013 Stock Option and Incentive Plan were forfeited following the departure of an employee, which will now be held as non-voting treasury stock.
Admission to trading
Application has been made to the London Stock Exchange for the admission to trading on AIM of the 6,000,000 newly issued restricted Ordinary Shares, which will rank pari passu with the existing Ordinary Shares in issue (the "Restricted Shares"). Admission of the Restricted Shares is expected to become effective on 17 July 2017 ("Admission").
Following Admission, the Company's issued share capital will be composed of 407,062,656 Ordinary Shares and 88,499,998 Convertible Preferred Shares of US$0.01 each in the capital of the Company, of which 416,334 Ordinary Shares are held by the Company as non-voting treasury stock. The total number of voting rights in the Company is 495,146,320. This figure of 495,146,320 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
The Ordinary Shares are listed on the AIM Market of the London Stock Exchange.
For further information, please contact:
RM2 International S.A. | +44 (0)20 7638 9571 |
Jasper Judd, Chief Executive Officer Jean-Francois Blouvac, Chief Financial Officer | |
Strand Hanson Limited (Nominated & Financial Adviser) | +44 (0) 20 7409 3494 |
James Spinney Ritchie Balmer | |
James Bellman | |
Zeus | +44 (0)20 3829 5000 |
John Goold | |
Arden Partners | +44 (0)20 7614 5928 |
Ruari McGirr Chris Hardie | |
Citigate Dewe Rogerson | +44 (0)20 7638 9571 |
Simon Rigby Ellen Wilton
|
PDMR Notification Forms:
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Jasper Judd | ||||
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 | RM2 International S.A. | ||||
b) | LEI | 2138006GGXWNLZQ48533 | ||||
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 | Restricted Ordinary Shares of USD0.01 in the Company | ||||
Identification code | LU0994178464 | |||||
b) | Nature of the Transaction | Receipt of Restricted Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information Aggregated volume Price | N/A (Single transaction) $25,000 | ||||
e) | Date of the transaction | 06 July 2017 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Jasper Judd | ||||
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 | RM2 International S.A. | ||||
b) | LEI | 2138006GGXWNLZQ48533 | ||||
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 USD0.01 in the Company | ||||
Identification code | LU0994178464 | |||||
b) | Nature of the Transaction | Receipt of options over Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information Aggregated volume Price | N/A (Single transaction) | ||||
e) | Date of the transaction | 06 July 2017 | ||||
f) | Place of the transaction | N.A. | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Jean François Blouvac | ||||
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 | RM2 International S.A. | ||||
b) | LEI | 2138006GGXWNLZQ48533 | ||||
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 | Restricted Ordinary Shares of USD0.01 in the Company | ||||
Identification code | LU0994178464 | |||||
b) | Nature of the Transaction | Receipt of Restricted Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information Aggregated volume Price | N/A (Single transaction) $15,000 | ||||
e) | Date of the transaction | 06 July 2017 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Elizabeth Pauchet | ||||
2. | Reason for the Notification | |||||
a) | Position/status | General Counsel | ||||
b) | Initial notification/amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | RM2 International S.A. | ||||
b) | LEI | 2138006GGXWNLZQ48533 | ||||
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 | Restricted Ordinary Shares of USD0.01 in the Company | ||||
Identification code | LU0994178464 | |||||
b) | Nature of the Transaction | Receipt of Restricted Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information Aggregated volume Price | N/A (Single transaction) $20,000 | ||||
e) | Date of the transaction | 06 July 2017 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
RM2.L (RM2)