Grant of Share Incentive Awards

RNS Number : 8963J

Byotrol PLC

16 December 2022

 

Byotrol Plc

("Byotrol" or the "Company")

Grant of share incentive awards to Directors and senior managers

1.  Establishment and operation of the Company's new Long Term Incentive Plan

Byotrol Plc (AIM: BYOT), the specialist infection prevention and control company, announces that, on 15 December 2022, it granted awards ("Awards") over 22,000,000 ordinary shares of 0.25 pence each in the capital of the Company ("Ordinary Shares") to Board Directors and senior leadership team pursuant to the terms of its newly established Long Term Incentive Plan (the "LTIP"), details of which are set out below:

Director	Board Position	Number of Ordinary Shares over which "Performance Awards" granted	Number of Ordinary Shares over which "Retention Awards" granted	Total number of Ordinary Shares over which Awards granted	Number of Options over Ordinary Shares currently held	Number of Options over Ordinary Shares Held by way of convertible notes	Number of Ordinary Shares Currently Held
David Traynor	Exec Chairman	2,000,000	2,000,000	4,000,000	5,360,000	1,538,461	9,935,297
Vivan Pinto	CEO	2,000,000	2,000,000	4,000,000	4,000,000	3,076,923	300,000
Christopher Sedwell	CFO	2,000,000	2,000,000	4,000,000	4,000,000	1,538,461	188,436
Sean Gogarty	NED	-	2,000,000	2,000,000	4,000,000	3,076,923	-
Trevor Francis	NED	-	2,000,000	2,000,000	4,555,000	1,538,461	4,470,214

Options outstanding over Ordinary Shares following this award, including those detailed above, now total 37,179,650 which equates to 8.2% of issued share capital, well within the guidelines set out by the ABI and considered best practice.

The LTIP has been established in order to incentivise Executive Directors and certain senior managers to deliver long term value for shareholders, align their interests with the various stakeholders and retain these key individuals within the business. No consideration was paid for the grant of the Awards, which have been structured as "nil cost" options. All option awards will lapse if the employee leaves the business prior to vesting, save for standard, very limited 'Good Leaver' provisions.

16,000,000 of the 22,000,000 options being issued are being structured as Retention Awards, dependent solely on continued employment at date of vesting.  8,000,000 options will vest automatically at 18 months from grant and 8,000,000 at 36 months from grant, with an exercise price of 2.15 pence

The 6,000,000 Performance Awards detailed in the above table for Executive Directors only will normally vest on the third and fourth anniversary of grant, dependent on exceeding certain performance targets relating to Total Stock Return, Revenue or EBITDA.  The exercise price of these options will be 0.25 pence.

Once the Awards have vested, they will generally be available to be exercised until the seventh anniversary of their original grant.

Further information in relation to the LTIP will be included in Byotrol's next annual report and financial statements.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

For further information contact:

Byotrol Plc
David Traynor, Executive Chairman	[phone]
Vivan Pinto, Chief Executive Chris Sedwell, Chief Financial Officer
finnCap Limited (Nominated Adviser and Broker)	[phone]
Geoff Nash / George Dollemore - Corporate Finance
Nigel Birks / Harriet Ward - ECM
Flagstaff Strategic and Investor Communications	[phone]
Tim Thompson/Andrea Seymour/Fergus Mellon	[e-mail]

Notes to editors

Byotrol plc (BYOT.L), quoted on AIM, is a specialist infection prevention and control company, operating globally in the Healthcare, Industrial, Food and Consumer sectors, providing low toxicity products with a broad-based and targeted efficacy across all microbial classes; bacteria, viruses (including coronavirus), fungi, moulds, mycobacteria and algae.

Byotrol's products can be used stand-alone or as ingredients within existing products, where they can significantly improve their performance, especially in personal hygiene, domestic and industrial disinfection, odour control, food production and food management.

Byotrol develops and commercialises technologies that create easier, safer and cleaner lives for everyone.

For more information, go to byotrol.com

 

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