Business
Option Scheme and Grant of Options
Option Scheme and Grant of Options.
About this update from Blue Star Capital Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8340M\n Blue Star Capital plc\n 24 September 2021\n \n \n \n \n 24 September 2021\n \n \n \n \n \n Blue Star Capital plc\n \n \n (\"Blue Star\" or the \"Company\")\n \n \n \n \n \n Option Scheme and Grant of Options\n \n \n \n \n \n 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.\n \n \n \n \n \n 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.\n \n \n \n \n \n Vesting criteria for options granted under the Scheme are as follows:\n \n \n \n \n \n \n \n \n \n Amount Vesting\n \n \n \n \n Time Condition\n \n \n \n \n Performance Condition\n \n \n \n \n \n \n 33.3 per cent. (\"Tranche One\")\n \n \n \n \n On the business day following the date of grant (\"Tranche One Vesting Date\")\n \n \n \n \n the share price being at least 10 per cent. higher than on the Grant Date\n \n \n \n \n \n \n 33.3 per cent. (\"Tranche two\")\n \n \n \n \n On the business day following the first financial year end following the date of grant (\"Tranche Two Vesting Date\")\n \n \n \n \n the share price being at least 20 per cent. higher than on the Grant Date\n \n \n \n \n \n \n 33.3 per cent. (\"Tranche two\")\n \n \n \n \n On the business day following the second financial year end following the date of grant (\"Tranche Three Vesting Date\")\n \n \n \n \n the share price being at least 30 per cent. higher than on the Grant Date\n \n \n \n \n \n \n \n \n \n Vesting conditions may be varied or waived provided that any varied vesting condition shall be a fairer measure of performance...