Business
Grant of Options
Grant of Options.
About this update from Tekcapital Plc
[{"type":"text","content":"\n \nRNS Number : 7260C Tekcapital plc 30 June 2016 \n\n30 June 2016 \n \nTekcapital plc\n(\"Tekcapital\" or \"the Company\")\n \nGrant of Share Options\nThe Board of Tekcapital plc (AIM: TEK), an international provider of technology and intellectual property services, announces the grant of 700,000 options to subscribe for new ordinary shares of 0.4 pence each in the Company (\"Ordinary Shares\") (the \"Options\"). \nThe Options were granted on 29 June 2016 (the \"Grant Date\") under the Company's EMI Share Option Scheme (\"EMI\") and Unapproved Share Option Plan (\"Non-EMI\"). 400,000 of these Options have been issued to certain directors, with the balance issued to employees and other recently engaged Vortechs Group associates to the Company. \nThe Options have an exercise price of 37.5p per share, being the closing mid-market price of Ordinary Shares on 28 June 2016. The Options granted to directors and employees vest over a three year period in equal tranches from the Grant Date, but vest immediately if the mid-market price of Ordinary Shares is maintained at or above £1.00 for ten consecutive trading days. The Options granted to Vortechs Group associates vest on meeting certain financial targets over three years. All of the Options will expire on the fifth anniversary of the Grant Date.\nFollowing the grant of the Options the total number of options outstanding to subscribe for new ordinary shares in the Company is 3,210,000, representing 9.06% of the Company's current issued share capital.\nThe Options issued to directors are detailed below:\n\n\n\n\nName\n\n\nCurrent number of options held\n\n\nNumber of Options granted\n\n\nOption Type\n\n\nTotal number of Options now held\n\n\nPercentage of current issued share capital\n\n\n\n\nMalcolm Groat\n\n\n200,000\n\n\n100,000\n\n\nEMI\n\n\n300,000\n\n\n0.85%\n\n\n\n\nRobert Miller\n\n\n120,000\n\n\n100,000\n\n\nNon-EMI\n\n\n220,000\n\n\n0.62%\n\n\n\n\nBill Payne\n\n\n195,000\n\n\n100,000\n\n\nNon-EMI\n\n\n295,000\n\n\n0.83%\n\n\n\n\nSusan Greenfield\n\n\n150,000\n\n\n100,000\n\n\nNon-EMI\n\n\n250,000\n\n\n0.71%\n\n\n\n\nTotal\n\n\n665,000\n\n\n400,000\n\n\n\n\n\n1,065,000\n\n\n3.01%\n\n\n\n\n \nFor further information please contact:\n \n\n\n\n\nTekcapital Plc\n\n\n+1 305 200 3450 Ext 305\n\n\n\n\nClifford M. Gross\n\n\[email protected]\n...