Business
Grant of Share Options
Light Science Technologies Holdings plc has announced the surrender and replacement of existing share options held by directors, senior management, and employees with new options. A total of 22,750,275 existing options have been replaced by 27,078,825 new options, all harmonised to an exercise price of 2 pence per ordinary share, aligning with the closing mid-market price on June 3, 2026. This strategic adjustment aims to retain, motivate, and reward key personnel while ensuring their interests are aligned with shareholders, with the company also planning a new long-term incentive plan. Disclaimer*
About this update from Light Science Technologies Holdings Plc
Light Science Technologies Holdings plc ("LSTH", "Light Science", the "Company" or the "Group") Grant of share Options and Surrender of Existing Options Light Science Technologies Holdings plc (AIM: LST), the innovative technology and manufacturing business providing real-world solutions targeting issues including global food security and fire safety, announces that certain existing share options held by directors, senior management and employees have been surrendered and replaced with new share options under the Company's existing share option arrangements. The Board has undertaken a review of the Group's incentive arrangements and concluded that following the recent fundraising, the replacement of certain existing options is appropriate to ensure that the Company's share-based incentive schemes continue to fulfil their intended purpose of retaining, motivating and rewarding key personnel whilst aligning their interests with those of shareholders. Accordingly, options over a total of 22,750,275 ordinary shares ("Existing Options") have been surrendered and replaced with new options over 27,078,825 ordinary shares ("New Options"). The New Options have an exercise price of 2 pence per ordinary share, being the closing mid-market price per ordinary share on 3 June 2026, and retain substantially the same vesting schedules and expiry dates as the Existing Options. The New Options comprise: · 6,100,000 Existing Options granted on 15 October 2021 with a nil exercise price have been surrendered and replaced by 8,900,000 options with an exercise price of 2p. · 16,650,275 options granted on 6 March 2024 with an exercise price of 5p have been surrendered and replaced by 18,178,825 options at an exercise price of 2p. · All New Options have therefore been harmonised to an exercise price of 2p The Company confirms that, following the grant of the New Options, its share option arrangements remain within the limits approved by shareholders. In addition, the Company intends to establish a new long-term incentive plan (LTIP), based around appropriate performance conditions, which is intended to incentivise long-term performance and sustainable growth. Directors' and PDMR option holdings following grant: Director Existing Options surrendered New Options g...
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