Business
Award of Options
Award of Options.
About this update from Metir Plc
[{"type":"text","content":"\n \nRNS Number : 7779A Microsaic Systems plc 03 January 2018 \n\n3 January 2018\nMicrosaic Systems plc\n \n(\"Microsaic\", \"Microsaic Systems\" or the \"Company\")\n \nAward of options\n \nMicrosaic Systems plc (AIM: MSYS), the developer of chip-based mass spectrometry (\"MS\") instruments designed to improve the efficiency of pharmaceutical R&D, announces that on 2 January 2018, the Company awarded options (\"New Options\") to directors and employees over 9,000,000 ordinary shares of 0.25 pence each in the Company (\"Ordinary Shares\"), representing approximately 4.96% of the issued share capital of the Company. \n \nOptions have been granted to directors as detailed below:\n \n\n\n\n\nDirector\n\n\nPosition\n\n\nNumber of New Options Awarded\n\n\nExercise Price of New Options\n\n\nTotal Options Held\n\n\n\n\nPeter Grant\n\n\nNon-Executive Chairman\n\n\n3,500,000\n\n\n4.05 pence\n\n\n3,500,000\n\n\n\n\nGlenn Tracey\n\n\nChief Executive Officer\n\n\n1,000,000\n\n\n4.05 pence\n\n\n2,300,000 \n\n\n\n\nBevan Metcalf\n\n\nFinance Director\n\n\n1,000,000\n\n\n4.05 pence\n\n\n2,120,000 \n\n\n\n\n \nThe 3,500,000 New Options awarded to Peter Grant, Non-Executive Chairman were awarded under the Company's Unapproved Share Option Scheme and have an exercise price of 4.05 pence per Ordinary Share being the closing share price on 29 December 2017. These options are subject to performance criteria as well as not being ordinarily exercisable prior to the third anniversary of the date of award. \n \nThe 2,000,000 New Options awarded to the executive directors (\"Management Options\") were awarded under Microsaic's Enterprise Management Incentive (EMI) Scheme. The Management Options have an exercise price of 4.05 pence per Ordinary Share, being the closing share price on 29 December 2017. These options are subject to performance criteria as well as not being ordinarily exercisable prior to the third anniversary of the date of award. \n \nThe balance of 3,500,000 New Options were awarded to all other employees of the Company (\"Employee Options\") under Microsaic's EMI Scheme. The Employee Options have an exercise price of 4.05 pence per Ordinary Share, being the closing share price on 29 December 2017. These options are not subject to performance criteria but are subject to no...