Business
New LTIP, Award of Options and Issue of Equity
New LTIP, Award of Options and Issue of Equity.
About this update from Sound Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1712K\n Sound Energy PLC\n 03 May 2022\n \n \n \n \n \n \n \n 3 May 2022\n \n \n \n \n \n Sound Energy plc \n \n \n (\"Sound Energy\" or the \"Company\")\n \n \n \n \n \n New Long Term Incentive Plan\n \n \n \n \n \n Award of Options, Issue of Equity and Director/PDMR Shareholding\n \n \n \n \n \n Total Voting Rights\n \n \n \n \n \n Sound Energy, the\n transition energy \n company, announces the adoption of a new long term incentive plan (the \"LTIP\"), \n designed to \n reward, incentivise and retain the Company's executives and senior management to deliver sustainable growth for shareholders. The Company has awarded options under the LTIP, together with options in respect of prior period employee annual bonus awards, over up to an aggregate of 69,112,143\n \n new ordinary shares of 1 pence each in the Company (\"Ordinary Shares\"). \n \n \n \n \n \n In addition, the Company also announces the issue of an aggregate of \n 16,094,723 new Ordinary Shares following the vesting of historically awarded restricted stock units (\"RSU\"s), the award of an exceptional share-based bonus to Mohammed Seghiri, Sound Energy's Chief Operating Officer, and the settlement \n of fees for services provided to the Company by third party service providers. \n \n \n \n \n \n LTIP\n \n \n \n \n \n The LTIP has been designed to \n reward, incentivise and retain the Company's executives and senior management to deliver sustainable growth for shareholders. \n The maximum number of awards which may be issued under the LTIP from time to time will be limited to 3% of the Company's issued share capital on the date of grant of awards, and together with all other options issued by the Company under any employee share scheme\n from time to time will not exceed an aggregate of 15% of the Company's issued ordinary share capital in a rolling ten year period. Awards granted under the LTIP will generally be subject to a 3 year vesting period from the date of grant, the number of awards ultimately vesting dependent on the grantee's continued service and on additional performance conditions set by the Remuneration Committee.\n \n \n \n \n \n Under the LTIP, the Company has today issued a total of 48,875,515 options to subscribe for new Ordinary Shares (the \"LTIP Options\...