Business
Grant of Options, Exercise of Options & TVR
Grant of Options, Exercise of Options & TVR.
About this update from React Group Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n REACT Group plc\n \n \n \n (\"REACT\" or the \"Company\")\n \n \n \n \n \n Grant of Options, Exercise of Options & TVR\n \n \n \n \n \n The Board of REACT (AIM: REAT),\n the leading specialist cleaning, hygiene and decontamination company, announces certain dealings in its shares as detailed below.\n \n \n \n \n \n \n Grant of Options\n \n \n \n \n \n \n On 15 November 2022, the Company granted 53,387,343 options over new ordinary shares of 0.25p each in the Company (\"Options\") to certain board members and employees, as detailed below:\n \n \n \n \n \n \n \n \n \n \n Director\n \n \n \n \n \n \n Role\n \n \n \n \n \n \n Number of Options granted\n \n \n \n \n \n \n Total number of Options over Ordinary Shares now held\n \n \n \n \n \n \n \n Mark Braund\n \n \n \n \n Executive Chairman\n \n \n \n \n 17,083,950\n \n \n \n \n 25,583,950\n \n \n \n \n \n \n Shaun Doak\n \n \n \n \n Chief Executive Officer\n \n \n \n \n 17,083,950\n \n \n \n \n 35,777,266\n \n \n \n \n \n \n Andrea Pankhurst\n \n \n \n \n Chief Financial Officer\n \n \n \n \n 12,101,131\n \n \n \n \n 17,578,169\n \n \n \n \n \n \n Sam Hayward\n \n \n \n \n Group Sales Director\n \n \n \n \n 7,118,312\n \n \n \n \n 7,118,312\n \n \n \n \n \n \n \n \n \n The Options have an exercise price of 0.25p (equivalent to the nominal value of an Ordinary Share) and, once vested, are exercisable from the date two years after the date of grant up to five years after the date of the grant, subject to performance conditions set out below.\n \n \n \n \n \n The Options vest subject to performance criteria whereby the average mid-market closing share price of the Company's Ordinary Shares in any consecutive ten-day period until 15 November 2027 remains above the defined levels, as follows:\n \n \n \n \n \n \n \n \n \n \n Share price at or above\n \n \n \n \n \n \n % of total vesting\n \n \n \n \n \n \n Cumulative % of total vesting\n \n \n \n \n \n \n \n 2.0p\n \n \n \n \n 20%\n \n \n \n \n 20%\n \n \n \n \n \n \n 2.5p\n \n \n \n \n 20%\n \n \n \n \n 40%\n \n \n \n \n \n \n 3.0p\n \n \n \n \n 20%\n \n \n \n \n 60%\n \n \n \n \n \n \n 3.5p\n \n \n \n \n 20%\n \n \n \n \n 80%\n \n \n \n \n \n \n 4.0p\n \n \n \n \n 20%\n \n \n \n \n 100%\n \n \n \n \n \n \n \n \n \n \n \n \n The Options gran...