26 Aug 2020 16:35
Gunsynd Plc
("Gunsynd" or the "Company")
Grant of Options
Gunsynd (AIM: GUN, AQSE: GUN) announces that options ("the Options") over a total of 19,000,000 new ordinary shares in the capital of the Company ("Ordinary Shares") were awarded on 26 August 2020 at an exercise price of 1 pence (being a premium of 14% per cent. over the mid closing price on 25 August 2020). The Options vest immediately and will expire in 3 years from the date of grant.
The Options represent approximately 7.47 per cent. of the Company's current issued ordinary share capital. They have been issued to two Directors of the Company, Hamish Harris and Donald Strang (16,000,000 in total) and to consultants (3,000,000).
The issued share capital of the Company comprises 254,367,047 ordinary shares.
Following the grant of the Options detailed above, a total of 29,251,398 options and 62,717,950 warrants are outstanding at the date of this notification, representing approximately 36.2 per cent. of the Company's issued ordinary share capital.
The table below sets out the directors' interest in the Company following this grant of Options:
| Hamish Harris | Donald Strang |
Interest in ordinary shares | 3,161,476 | 10,820,211 |
Interest in warrants | 666,667 | 2,123,077 |
Interest in existing options | 1,764,706 | 1,764,706 |
New Options granted | 8,000,000 | 8,000,000 |
The grant of Options as set out above to Hamish Harris and Donald Strang (the "Transaction") is deemed to be a related party transaction under the AIM Rules for Companies as Hamish Harris and Donald Strang are Directors of the Company. Peter Ruse being a Non-executive Director of the Company independent of the Transaction, having consulted with Cairn Financial Advisers LLP, the Company's nominated adviser, consider the terms of the Transaction to be fair and reasonable insofar as the shareholders of the Company are concerned.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
The Directors of Gunsynd accept responsibility for this announcement.
For further information, please contact:
Gunsynd plc Hamish Harris/Peter Ruse
| +44 (0) 78 7958 4153 |
Cairn Financial Advisers LLP James Caithie / Liam Murray / Mark Rogers
| +44 (0) 20 7213 0880 |
Peterhouse Capital Ltd Lucy Williams
| +44 (0) 20 7469 0930 |
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||
a. | Name | a) Hamish Harris b) Donald Strang | ||||||||
2 | Reason for notification |
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a. | Position/Status | a) Executive Chairman b) Executive Director | ||||||||
b. | Initial notification/ Amendment | Initial | ||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
a. | Name | Gunsynd PLC | ||||||||
b. | LEI |
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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 instrumentIdentification Code | Ordinary Shares
ISIN: GB00BMD6PM55 | ||||||||
b. | Nature of the transaction | Grant of share options at an exercise price of 1p | ||||||||
c. | Price(s) and volume(s) |
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| Name | Volume(s) | Exercise Price (p) |
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a) Hamish Harris | 8,000,000 | 1p |
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| b) Donald Strang | 8,000,000 | 1p |
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d. | Aggregated information - Aggregated Volume - Price |
16,000,000 Exercise price 1.1p | ||||||||
e. | Date of the transaction | 26/08/2020
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f. | Place of the transaction | London Stock Exchange, AIM
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Gunsynd (GUN)