Business
Grant of Market Price Options
Grant of Market Price Options.
About this update from Fonix Plc
[{"type":"text","content":"\n\n30 November 2023\nFonix Mobile plc\n(\"Fonix\" or the \"Company\")\nGrant of Market Price Options\n \nFonix Mobile plc (AIM: FNX), the mobile payments and messaging provider, announces that on 30 November 2023 55,000 options were granted over ordinary shares of 0.1p each in Fonix (the \"Options\") to Michael Foulkes, Chief Financial Officer of the Company (the \"CFO\"), as well as 159,500 options granted over ordinary shares to other Fonix employees (the \"Eligible Employees\") in accordance with the Company's Share Option Plan.\nThe Options have an exercise price of 195.5p, being the closing mid-market price the day before grant.\n27,500 of the Options issued to the CFO will vest after 3-years in three equal instalments on 30 November 2026, 30 November 2027 and 30 November 2028 and are also subject to the achievement of certain performance related conditions. The remaining 27,500 Options issued to the CFO, as well as the 159,500 options issued to Eligible Employees vest after 3-years in three equal instalments on 30 November 2026, 30 November 2027 and 30 November 2028. The vesting of all options is contingent on the option holder remaining in continuous employment until each vesting date. The options granted align the CFO and the Eligible Employees with shareholders by incentivising and rewarding the creation of shareholder value over the next 3-5 years.\nFollowing the Company Share Option Plan grants to Eligible Employees including Michael Foulkes, the Company has now issued 1,904,174 options over shares since the Company's admission to the AIM in October 2020, of which 192,797 have subsequently lapsed, 127,557 have been exercised and 1,583,820 remain outstanding. The outstanding options represent 1.58 per cent. of the Company's issued share capital.\n \n \n \n \n \nEnquiries\nFonix Mobile plc  ...