Business
Grant of Awards under Long-Term Incentive Plan
Grant of Awards under Long-Term Incentive Plan.
About this update from Eden Research Plc
[{"type":"text","content":"\n\n\n31 August 2023\n \nEden Research plc\n \n(\"Eden\" or \"the Company\")\n \nGrant of Awards under Long-Term Incentive Plan\n \nEden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable biopesticides and plastic-free formulation technology for use in global crop protection, animal health and consumer products industries, confirms the grant of options under the Company's Long Term Incentive Plan (\"LTIP\") to Sean Smith, Chief Executive Officer, and Alex Abrey, Chief Finance Officer (together the \"Executives\"), as follows:\n \nThe Company has made a grant to the Executives, in respect of 2022 in order to ensure continuity of long term incentive, of options over 8,698,909 new Ordinary Shares in Eden (\"the Options\"), at a strike price of 5.05p each, being the 2022 Volume Weighted Average Price, in the amounts of 4,968,000 awarded to Sean Smith and 3,730,909 awarded to Alex Abrey.\n \nThe Options expire on 31 August 2027 and vest as follows:\n \n1/3 upon grant\n1/3 12 months from the date of grant\n1/3 24 months from the date of grant\n \nThe notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail.\n \nSeparately, the Board has agreed that it will extend the exercise date to 31 December 2023 for the 3,500,000 options (2,000,000 awarded to Sean Smith and 1,500,000 awarded to Alex Abrey) with a strike price of 6p which were granted to the Executives in April 2021 under the Company's LTIP and which were due to expire on 30 June 2023.\n \nThe extension has been agreed to due to the unusually long closed period that the Executives were placed in prior to the options' expiration date.\n \n \nFor further information contact:\n \n\n\n\nEden Research plc\n\n\nwww.edenresearch.com\n\n\n\n\nSean Smith\nAlex Abrey\n \n\n\n01285 359 555\n\n\n\n\n\n\n\n\n\n\n\n\nCenkos Securities plc (Nominated advisor and broker)\n\n\n \n\n\n\n\nGiles Balleny / Max Gould (corporate finance)\nMichael Johnson (sales)\n \n\n\n020 7397 8900\n\n\n\n\n\n\n\n\n\n\n\n\nHawthorn Advisors (Financial PR)\n\n\n \n\n\n\n\nSimon Woods\nFelix Meston\n\n\[email protected]\n \n\n\n\n \n\n\n\n1\n \n\n\nDetails of the person ...