Business
Grant of Options
Grant of Options.
About this update from Imaging Biometrics Limited
[{"type":"text","content":"\n\nIQ-AI Limited\n(\"IQ-AI\" or the \"Company\")\nGrant of Options\n \nIQAI Limited (the \"Company\" or \"IQAI\"), announces that, the Company has granted options over a total of 18,905,474 ordinary shares of £0.01 each in the Company (\"Ordinary Shares\") to the Directors and employees to the Company (the \"Options\"). All Options are exercisable for 10 years from the date of grant.\n \nIn aggregate, 18,130,474 Options have been granted to Directors of the Company, as follows:\n \n\n\n\n\n\n\n\nNew options\n\n\nPercentage of the current issued share capital of the Company\n\n\n\n\nTrevor Brown\n\n\n3,000,000\n\n\n1.35\n\n\n\n\nMike Schmainda\n\n\n8,630,474\n\n\n3.89\n\n\n\n\nVinod Kaushal\n\n\n6,000,000\n\n\n2.71\n\n\n\n\nBrett Skelly\n\n\n500,000\n\n\n0.23\n\n\n\n\n \nThe options granted to employees will vest annually in four equal tranches with the first quarter vesting upon grant. Half of Mr Kaushal's options will vest immediately, 1,500,000 options will vest after one year, and the balance will vest after two years. Mr Brown, Mr Schmainda and Mr Skelly's options will vest immediately. \n \nFollowing the grant of the Options and historic options held by employees, the Company now has options outstanding over a total of 19,680,474 Ordinary Shares, equivalent to 8.88% of the Company's current issued share capital.\n \nFurther details of the Options can be found in the Notification of Dealing Form below.\n \nNotification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them\n \n\n\n\n\n1\n \n\n\nDetails of the person discharging managerial responsibilities / person closely associated\n \n\n\n\n\na)\n \n\n...