Business
Grant of Options
Grant of Options.
About this update from Norman Broadbent Plc
[{"type":"text","content":"\n\nNorman Broadbent plc\n(\"Norman Broadbent or the \"Company\")\nGrant of Options\nand\nDirector/PDMR Shareholding\n \nNorman Broadbent (AIM: NBB), a leading London quoted Executive Search and Interim Management firm offering a diversified portfolio of integrated Leadership Acquisition & Advisory Services, announces that, on 28 July 2023 (the \"Date of Grant\"), it granted options over, in aggregate, 4,148,148 ordinary shares of £0.01 each (\"Ordinary Shares\") in the Company (\"Options\") to both Executive Directors and certain employees (the \"Grant\") under its Enterprise Management Incentive Option Scheme 2022 (the \"Scheme\"). The Options are exercisable at nil pence per Ordinary Share.\nThe Options granted under the Scheme vest over a 3-year period (25 per cent. of the Grant are deemed to have vested on 18 March 2023*). Once vested, the Options can be exercised within 7 years of the Date of Grant date subject to the following two sets of performance criteria:\n· 50 per cent. of the vested Options are exercisable on a scaled basis following the price of an Ordinary Share achieving an average of between 10p and 19p over any three-month period prior to 30 June 2026 (\"Share Price Vesting Options\"); and\n \n· The remaining 50 per cent. of the vested Options are exercisable on a scaled basis following the achievement by the Company of audited EBITDA in the range of greater than £500,000 to £1,250,000 in any financial year from the Date of Grant to 31 December 2025 (\"EBITDA Vesting Options\").\nThe following table sets out details of the Options that have been granted to the Executive Directors and one person discharging managerial responsibilities (\"PDMR\"):\n\n\n\n \n \n \n \nName of Individual\n\n\n \n \n \n \n \nDirector/PDMR\n\n\n \n \nNumber of Share Price Vesting Options granted\n\n\n \n \nNumber of EBITDA Vesting Options granted\n\n\n \n \nTotal Number of Options granted\n\n\n \n \nTotal Number of Options held following Grant \n\n\nPercentage of the Company's Existing Issued Shares Under Option held\n\n\nPercentage of the Company's Fully Diluted Share Capital held**\n\n\n\n\nKevin Davidson\n\n\nCEO\n\n\n299,076\n\n\n299,072\n\n\n598,148\n\n\n2,548,1...