Grant of Options

RNS Number : 5561L
BATM Advanced Communications Ld
03 January 2023
 

LEI: 213800FLQUB9J289RU66

3 January 2023

 

BATM Advanced Communications Limited

("BATM" or "the Company")

 

Grant of Options

 

Further to the Company's announcements of 24 November and 21 December 2022, BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, announces that the Company granted, on 1 January 2023 (the "Grant Date"), options over ordinary shares of 0.01 NIS each in the capital of the Company ("Ordinary Shares") to certain Directors as follows:

 

Name

Role

Number of options granted

Options exercise price

Period and conditions of vesting

Gideon Chitayat*

Chairman

1,229,369

25.49 pence

The options fully vest on the first anniversary of the Grant Date.

Moti Nagar

CEO

16,433,937

25.49 pence

 

One-third of the options will vest on each of the first, second and third anniversaries of the Grant Date .

* Dr. Chitayat's options were granted to GMBS General Management & Business Strategy Consultants Ltd., a service company through which Dr. Chitayat provides his services to the Company

 

The options were granted under the BATM Advanced Communications Ltd. Global Share Incentive Plan (2021) ("SIP (2021)"). The exercise price represents the average closing price of the Company's Ordinary Shares on the London Stock Exchange over the 30 trading days preceding the Grant Date. The options granted to Mr. Nagar have a total grant value of 2% of the value of the Company on the Grant Date, as approved by shareholders at the Company's annual general meeting of 21 December 2022. Each grantee's options are exercisable subject to that grantee remaining a service provider of the Company and for 90 days thereafter.

 

Following the above option grants, Mr. Nagar and Dr. Chitayat hold options over Ordinary Shares and Restricted Share Units ("RSUs") as detailed below:

 

Instrument

Scheme

Number

Date of grant

Exercise price (if applicable)

Date of first vesting

Conditions of vesting/exercise*

Expiry date (if applicable)

Gideon Chitayat, Chairman

Options over Ordinary Shares

SIP (2021)

1,229,369

01/01/23

25.49 pence

01/01/24

The options fully vest on the first anniversary of the grant date.

01/01/33

Moti Nagar, CEO

Options over Ordinary Shares

ESOP (2004)

906,200

05/05/15

12.69 pence

31/12/16

The options are fully vested and are exercisable.

04/05/25

SIP (2021)

16,433,937

01/01/23

25.49 pence

01/01/24

The options vest equally on the first, second and third anniversaries of the date of grant.

01/01/33

Restricted Share Units

SIP (2021)

537,109

12/04/22

N/A

12/04/25

The RSUs vest on the third anniversary of the grant date subject to total shareholder return performance over the three-year period (for details, see page 56 of BATM's Annual Report 2021). If, and to the extent that, these RSUs vest, the resulting ordinary shares will be subject to a two-year holding period, however, sufficient awards may be sold during the holding period to satisfy any tax liabilities owed.  

N/A

 

* All options and RSUs are subject to the provisions of the scheme under which they were granted and are exercisable subject to the grantee remaining a service provider of the Company and for 90 days thereafter.  

 

Enquiries:

 

BATM Advanced Communications


Moti Nagar, Chief Executive Officer

+972 9866 2525 

 


Shore Capital


Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory)

+44 20 7408 4050 

 


Gracechurch Group


Harry Chathli, Claire Norbury

+44 20 4582 3500

 

Notification   and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Gideon Chitayat

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chairman

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

BATM ADVANCED COMMUNICATIONS LTD

b)

 

LEI

 

 

213800FLQUB9J289RU66

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

 

a)

 

Description of the financial instrument, type of instrument

Options over ordinary shares of 0.01 NIS each



Identification code

IL0010849045



b)

 

Nature of the transaction

 

 

Grant of options

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




25.49 pence

1,229,369







d)

 

Aggregated information




- Aggregated volume

N/A



- Price




e)

 

Date of the transaction

 

 

1 January 2023

 

 

f)

 

Place of the transaction

 

 

Outside a trading venue

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Moti Nagar

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Executive Officer

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

BATM ADVANCED COMMUNICATIONS LTD

b)

 

LEI

 

 

213800FLQUB9J289RU66

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

 

a)

 

Description of the financial instrument, type of instrument

Options over ordinary shares of 0.01 NIS each



Identification code

IL0010849045



b)

 

Nature of the transaction

 

 

Grant of options

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




25.49 pence

16,433,937







d)

 

Aggregated information




- Aggregated volume

N/A



- Price




e)

 

Date of the transaction

 

 

1 January 2023

 

 

f)

 

Place of the transaction

 

 

Outside a trading venue

 

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