Business
Replacement - Cancellation and grant of options
Replacement - Cancellation and grant of options.
About this update from Truetide Plc
[{"type":"text","content":"\n \n \n The following amendments have been made to the announcement, Cancellation and grant of options, released on 9 May 2022 at 1.08pm under RNS No 8123K.\n \n \n \n \n \n Under \"Grant of new options\":\n \n \n \n \n \n - the new options were granted today;\n \n \n \n \n \n - the closing mid-market price of an Ordinary Share on 6 May 2022was the latest practicable date prior to the date of grant;\n \n \n \n \n \n - the New Options will vest from 9 May 2023 and be exercisable up to 9 May 2032; and\n \n \n \n \n \n - the date of the transactions on the Notification of Dealing Forms was 9 May 2022.\n \n \n \n \n \n Please see updated full announcement below.\n \n \n \n \n \n 09 May 2022\n \n \n \n \n \n \n Braveheart Investment Group plc\n \n \n \n (\"Braveheart\" or the \"Company\")\n \n \n \n \n \n \n Cancellation and grant of options\n \n \n \n \n \n \n \n \n Braveheart Investment Group (AIM: BRH), announces the cancellation of options over ordinary shares of 2p each in the Company (\"Ordinary Shares\") issued to two Directors of the Company and the concurrent granting of new options over Ordinary Shares to the same Directors.\n \n \n \n \n \n \n Background\n \n \n \n At the annual general meeting of the Company held on 8 September 2020, shareholders approved the implementation of a share option scheme in order to provide a long-term incentive plan for Directors, employees and consultants of the Company, including those Strategic Investments where Braveheart owns 50% or more of the issued share capital (\"the Share Option Plan\"). \n \n \n \n \n \n On 14 October 2021, options were granted over 1,500,000 and 2,000,000 Ordinary Shares to Trevor Brown (CEO) and Vivian Hallam (Executive Director) respectively, at an exercise price of 31.5p per share, being the closing mid-market price of an Ordinary Share on 13 October 2021 (the \"Historic Options\").\n \n \n \n \n \n The remuneration committee of the Company (\"Remuneration Committee\") has determined that, in order to continue to incentivise Trevor Brown and Vivian Hallam without creating further potential dilution for shareholders of the Company, it is appropriate to cancel certain of the Historic Options and issue the same number of new options to the Dir...