24 Sep 2021 07:00
24 September 2021
Blue Star Capital plc
("Blue Star" or the "Company")
Option Scheme and Grant of Options
Blue Star Capital plc (AIM: BLU), the investing company with a focus on esports, technology and its applications within media and gaming, announces, further to its announcement of 29 June 2021, that it has adopted a share option scheme (the "Scheme") and granted share options to certain directors.
The terms of the Scheme, which is to incentivise management performance for the benefit of all shareholders by way of options which are subject to time and performance conditions, provide that a maximum of 10 per cent. of the Company's issued share capital in aggregate, from time to time, may be issued without the prior approval of shareholders of the Company. The exercise period for options granted under the Scheme is 10 years from the date of grant and the exercise price at grant is ordinarily expected to be at or around the mid-market closing price on or around the day before the grant of any options.
Vesting criteria for options granted under the Scheme are as follows:
Amount Vesting | Time Condition | Performance Condition |
33.3 per cent. ("Tranche One") | On the business day following the date of grant ("Tranche One Vesting Date") | the share price being at least 10 per cent. higher than on the Grant Date |
33.3 per cent. ("Tranche two") | On the business day following the first financial year end following the date of grant ("Tranche Two Vesting Date") | the share price being at least 20 per cent. higher than on the Grant Date |
33.3 per cent. ("Tranche two") | On the business day following the second financial year end following the date of grant ("Tranche Three Vesting Date") | the share price being at least 30 per cent. higher than on the Grant Date |
Vesting conditions may be varied or waived provided that any varied vesting condition shall be a fairer measure of performance, as judged at the time, and no more difficult to satisfy than the original vesting condition. The Scheme provides good leaver provisions and other standard terms normally associated with such a scheme.
On 24 September 2021 ("Grant Date"), the Company granted the following options under the Scheme at the mid-market price on the Grant Date:
Option holder
| Number of Options granted | Exercise Price | Options Granted as Percentage of issued share capital on Grant Date |
Sean King | 75,000,000 | 0.14p | 1.5% |
Brian Rowbotham | 75,000,000 | 0.14p | 1.5% |
Total | 150,000,000 |
| 3.0% |
There are no existing options in issue and, as a result of the grant of options above, the Company has outstanding options over 150,000,000 ordinary shares in aggregate representing 3.0 per cent. of the Company's issued share capital on following Admission.
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
For further information, please contact:
Blue Star Capital plc | +44 (0)20 3608 3019 |
Derek Lew |
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Cairn Financial Advisers LLP | +44 (0) 20 7213 0880 |
(Nominated Adviser) |
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Jo Turner / Liam Murray |
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Stanford Capital Partners Limited (Broker) Patrick Claridge / John Howes / Bob Pountney | +44 (0) 20 3815 8880 |
About Blue Star Capital
Blue Star is an investing company with a focus on new technologies. Blue Star's investments include a 27.7% holding in SatoshiPay, a payments business using blockchain technology; investments in 6 early stage esports companies with shareholdings ranging from 6% to 13.6% and a 0.9% investment in Sthaler, an identity and payments technology business which enables a consumer to identify themselves and pay using just their finger.
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 | 1. Sean King 2. Brian Rowbotham | ||||||||||
2 | Reason for notification |
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a. | Position/Status | 1. Non-executive Director 2. Non-executive Director
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b. | Initial notification/ Amendment | Initial | ||||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||
a. | Name | Blue Star Capital 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 | Options over ordinary shares
GB00B02SSZ25 | ||||||||||
b. | Nature of the transaction | Grant of Options | ||||||||||
c. | Price(s) and volume(s) |
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| Price(s) | Volume(s) |
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1. 0.14p 2. 0.14p | 75,000,000 75,000,000 |
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d. | Aggregated information - Aggregated Volume - Price |
150,000,000 0.14p
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e. | Date of the transaction | 24/9/2021 | ||||||||||
f. | Place of the transaction | UK
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Blue Star (BLU)