Business
Adoption of EMI, Grant of Options, PDMR Dealings
Fonix PLC has adopted an EMI sub-plan and granted EMI options to eligible employees, including the CFOO, to align interests and support retention. This includes 487,468 Parallel EMI Options linked to existing NTA Options, which do not increase dilution, and 369,000 New EMI Options with an exercise price of 147.00p, vesting over three years, with 129,000 granted to the CFOO subject to performance conditions. Following these grants, the total outstanding options represent approximately 2.09% of the company's issued share capital. Disclaimer*
About this update from Fonix Plc
12 June 2026 Fonix plc ("Fonix" or the "Company") Adoption of EMI Sub-Plan, Grant of EMI Options and PDMR Dealing Fonix plc (AIM: FNX), the mobile payments and messaging provider, announces that, following the recent expansion of Enterprise Management Incentive ("EMI") eligibility introduced in the 2025 Finance Act, the Company has adopted an EMI sub-plan as an addition to its existing share option plan and has granted EMI options ("EMI Options") to Michael Foulkes, the Company's Chief Financial and Operating Officer (the "CFOO") and to other eligible employees. The Company's existing share option arrangements include both non-tax-advantaged options ("NTA Options") and Company Share Option Plan options ("CSOP Options") previously granted under the Company's share option plan. Following the adoption of the EMI sub-plan, future tax-advantaged grants will primarily be made as EMI Options. The grants announced today comprise two elements: 1. Parallel EMI Options granted alongside existing NTA Options previously issued to current employees; and 2. New EMI Options granted to employees as part of the Company's continuing programme of long-term incentive awards. The EMI Options are designed to support the recruitment and retention of key employees and to align the interests of employees with those of shareholders in the creation of long-term shareholder value. The expansion of EMI eligibility means that the Company is now able to use EMI as part of its long-term incentive framework for the first time since admission to AIM in October 2020. Going forward, the Company expects EMI to be the primary vehicle for tax-advantaged share-based incentives, replacing the CSOP for new grants where eligibility criteria are met. Existing NTA Options and CSOP Options are unaffected by today's grants, save in respect of the linked-lapse mechanic described below in relation to the Parallel EMI Options. Parallel EMI Options The Parallel EMI Options have been granted over the same number of shares, at the same exercise prices, and (save where noted below) with vesting dates matching those of the corresponding outstanding NTA Options held by current employees. Under the terms of the Parallel EMI Options, exercise of an EMI Option will automatically cause the corresponding NTA Option to lapse, and vice versa, so that a holder may benefit from only one of the two options. As a r...