Option Scheme and Grant of Options

RNS Number : 8340M

Blue Star Capital plc

24 September 2021

 

24 September 2021

Blue Star Capital plc

("Blue Star" or the "Company")

Option Scheme and Grant of Options

Blue Star Capital plc (AIM: BLU), the investing company with a focus on esports, technology and its applications within media and gaming, announces, further to its announcement of 29 June 2021, that it has adopted a share option scheme (the "Scheme") and granted share options to certain directors.

The terms of the Scheme, which is to incentivise management performance for the benefit of all shareholders by way of options which are subject to time and performance conditions, provide that a maximum of 10 per cent. of the Company's issued share capital in aggregate, from time to time, may be issued without the prior approval of shareholders of the Company. The exercise period for options granted under the Scheme is 10 years from the date of grant and the exercise price at grant is ordinarily expected to be at or around the mid-market closing price on or around the day before the grant of any options.

Vesting criteria for options granted under the Scheme are as follows:

Amount Vesting	Time Condition	Performance Condition
33.3 per cent. ("Tranche One")	On the business day following the date of grant ("Tranche One Vesting Date")	the share price being at least 10 per cent. higher than on the Grant Date
33.3 per cent. ("Tranche two")	On the business day following the first financial year end following the date of grant ("Tranche Two Vesting Date")	the share price being at least 20 per cent. higher than on the Grant Date
33.3 per cent. ("Tranche two")	On the business day following the second financial year end following the date of grant ("Tranche Three Vesting Date")	the share price being at least 30 per cent. higher than on the Grant Date

Vesting conditions may be varied or waived provided that any varied vesting condition shall be a fairer measure of performance, as judged at the time, and no more difficult to satisfy than the original vesting condition. The Scheme provides good leaver provisions and other standard terms normally associated with such a scheme.

On 24 September 2021 ("Grant Date"), the Company granted the following options under the Scheme at the mid-market price on the Grant Date:

Option holder	Number of Options granted	Exercise Price	Options Granted as Percentage of issued share capital on Grant Date
Sean King	75,000,000	0.14p	1.5%
Brian Rowbotham	75,000,000	0.14p	1.5%
Total	150,000,000		3.0%

There are no existing options in issue and, as a result of the grant of options above, the Company has outstanding options over 150,000,000 ordinary shares in aggregate representing 3.0 per cent. of the Company's issued share capital on following Admission.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

For further information, please contact:

Blue Star Capital plc	[phone]
Derek Lew
Cairn Financial Advisers LLP	[phone]
(Nominated Adviser)
Jo Turner / Liam Murray
S tanford Capital Partners Limited (Broker) Patrick Claridge / John Howes / Bob Pountney	[phone]

About Blue Star Capital

Blue Star is an investing company with a focus on new technologies. Blue Star's investments include a 27.7% holding in SatoshiPay, a payments business using blockchain technology; investments in 6 early stage esports companies with shareholdings ranging from 6% to 13.6% and a 0.9% investment in Sthaler, an identity and payments technology business which enables a consumer to identify themselves and pay using just their finger.

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	1.  Sean King 2.  Brian Rowbotham
2	Reason for notification
a.	Position/Status	1.  Non-executive Director 2.  Non-executive Director
b.	Initial notification/ Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Blue Star Capital plc
b.	LEI	213800Y6XGR31P2LKT12
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 Identification Code	Options over ordinary shares GB00B02SSZ25
b.	Nature of the transaction	Grant of Options
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			1.  0.14p 2.  0.14p	75,000,000 75,000,000
d.	Aggregated information - Aggregated Volume - Price	150,000,000 0.14p
e.	Date of the transaction	24/9/2021
f.	Place of the transaction	UK

 

END

 

 

DSHUOVARANUKUUR