Business
Grant of Options
Grant of Options.
About this update from Surgical Innovations Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0063S\n Surgical Innovations Group PLC\n 10 November 2021\n \n \n \n \n Surgical Innovations Group plc\n \n \n (the \"Company\", \"SI\" or the \"Group\")\n \n \n \n \n \n Grant of Options\n \n \n \n \n \n Surgical Innovations Group plc (AIM: SUN), the designer, manufacturer and distributor of innovative technology for minimally invasive surgery, \n announces that the Board has resolved to grant share options under the existing Enterprise Management Incentive scheme to acquire a maximum of 19,000,000 ordinary shares in the Company\n \n (the \"Options\").\n \n \n \n \n \n 5,000,000 Options (\"the A Options\") were granted at an exercise price of 2.35 pence each. Exercise of A Options is not subject to performance conditions other than time-based vesting and the A Options are exercisable between 21 October 2024 and 21 October 2031. \n The A Options are designed to align Option value directly with the performance of the Company's share price.\n \n \n \n \n \n 14,000,000 options (\"the B Options\") were granted at par value, and are exercisable between 21 October 2024 and 21 October 2031 subject to performance conditions linked to Adjusted Earnings per share1 (AEPS) taken from the latest audited financial statements. AEPS1 must be at least 0.16p in year 3 with the target increasing 5% per annum as follows in the table below. \n \n \n \n \n \n \n \n \n For exercise\non or after\n21 October\n \n \n \n \n Prior Year \n \n \n AEPS1 Condition\n \n \n (pence per share)\n \n \n \n \n Reference\nYear for AEPS1\nPerformance\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2024\n \n \n \n \n 0.160\n \n \n \n \n 2023\n \n \n \n \n \n \n 2025\n \n \n \n \n 0.168\n \n \n \n \n 2024\n \n \n \n \n \n \n 2026\n \n \n \n \n 0.176\n \n \n \n \n 2025\n \n \n \n \n \n \n 2027\n \n \n \n \n 0.185\n \n \n \n \n 2026\n \n \n \n \n \n \n 2028\n \n \n \n \n 0.194\n \n \n \n \n 2027\n \n \n \n \n \n \n 2029\n \n \n \n \n 0.204\n \n \n \n \n 2028\n \n \n \n \n \n \n 2030\n \n \n \n \n 0.214\n \n \n \n \n 2029\n \n \n \n \n \n \n 2031\n \n \n \n \n 0.225\n \n \n \n \n 2030\n \n \n \n \n \n \n \n \n The Options have been granted to a number of key personnel, including an award of 2,500,000 \n B\n Options to Charmaine Day, Company Secretary and G...