Grant of Options, Issue of Shares, Director/PDMR

NetScientific PLC

03 July 2023

 

 

NetScientific plc

("NetScientific" or the "Company")

Grant of Options, Issue of Shares, Director/PDMR Shareholding and Total Voting Rights

NetScientific Plc (AIM: NSCI), the deep tech and life sciences VC investment group, announces that it has granted a total of 579,703 new options (New Options) to subscribe for ordinary shares in the capital of the Company (Ordinary Shares) to certain of its directors, as detailed below. In addition, certain of its directors have subscribed for and purchased shares in the Company, as detailed below.

Grant of new options

In line with the Company's remuneration policy, the Remuneration Committee has approved the award of the following New Options to the directors referred to below in connection with their recent appointments and roles:

Director	New Options	Total options held (including existing options)
Ed Hooper, Executive Director	460,656	565,656
Dr Charles Spicer, Chair	95,238	95,238
Dr Jonathan Robinson, Senior Independent Director	23,809	69,610

The New Options were granted under the NetScientific Share Option Scheme, pursuant to which options over a total of 2,310,095 Ordinary Shares have now been granted (excluding lapsed options but including exercised options), representing approximately 9.82 per cent. of the Enlarged Issued Share Capital (as defined below). The maximum potential dilution arising from options awarded under the NetScientific Share Option Scheme remains below the upper limit of 10 per cent. under the rules of the plan.

The New Options have an exercise price of 63 pence per share, which is equal to the average of the closing market quotations for Ordinary Shares over the five dealing days prior to the date on which the New Options were granted (the latter being the minimum price that could have been set).

The New Options will vest as to one third on the date of grant, as to a further third on the first anniversary of the date of grant and as to the final third on the second anniversary of the date of grant. The New Options may not be exercised earlier than the third anniversary of the date of grant and lapse 10 years after the date of grant (if not sooner in accordance with the terms of the NetScientific Share Option Scheme rules).

The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation, is appended below.

Issue of new Ordinary Shares

Ed Hooper has chosen to receive payment in the form of 40,000 new Ordinary Shares (New Shares), rather than cash, in respect of c.77.5 per cent. of the annual bonus awarded to him (on a projected net of tax basis) for the year ended 31 December 2023. The new Ordinary Shares are being issued at a price of £0.63 per share, being determined on the same basis as described above in respect of the New Options.

Application will be made for the New Ordinary Shares to be admitted to trading on AIM and it is expected that admission will take place on or around 7 July 2023 (Admission). The New Shares will rank pari passu in all respects with the Company's existing ordinary shares.

Purchase of Ordinary Shares

On 30 June 2023 the following directors purchased shares in the Company through their Self Invested Personal Pensions, as detailed below (Director Dealings).

Director	Number of Ordinary Shares acquired	Total number of Ordinary Shares in which interested	% of Enlarged Issued Share Capital
Ed Hooper, Executive Director	20,000	60,000	0.26
Dr Charles Spicer, Chair	16,286	16,286	0.07

Total Voting Rights 

Upon Admission, the issued share capital of the Company will consist of 23,528,148 Ordinary Shares (Enlarged Issued Share Capital). The Company does not hold any shares in treasury. Therefore, the total number of voting rights in the Company from Admission will be 23,528,148. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

The information below, set out in accordance with the requirements of the UK Market Abuse Regulation, provides further detail on the grant of options to PDMRs, the issue of the New Shares and the Director Dealings.

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	Mr Edward Hooper
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	NetScientific plc
b)	LEI	213800N5WD46G1Y7I458
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 GB00BN4R5Q82
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.63 460,656 options
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	30 June 2023
f)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Dr. Charles Spicer
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	NetScientific plc
b)	LEI	213800N5WD46G1Y7I458
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 GB00BN4R5Q82
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.63 95,238 options
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	30 June 2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Dr. Jonathan Robinson
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	NetScientific plc
b)	LEI	213800N5WD46G1Y7I458
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 GB00BN4R5Q82
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.63 23,809 options
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	30 June 2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mr Edward Hooper
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	NetScientific plc
b)	LEI	213800N5WD46G1Y7I458
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	Ordinary Shares of £0.05 each GB00BN4R5Q82
b)	Nature of the transaction	Subscription for new Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.63 40,000 Ordinary Shares
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	30 June 2023
f)	Place of the transaction	UK AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mr Edward Hooper
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	NetScientific plc
b)	LEI	213800N5WD46G1Y7I458
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	Ordinary Shares of £0.05 each GB00BN4R5Q82
b)	Nature of the transaction	Purchase of Ordinary Shares into SIPP
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.5962 20,000 Ordinary Shares
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	30 June 2023
f)	Place of the transaction	UK AIM

 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Dr. Charles Spicer
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	NetScientific plc
b)	LEI	213800N5WD46G1Y7I458
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	Ordinary Shares of £0.05 each GB00BN4R5Q82
b)	Nature of the transaction	Purchase of Ordinary Shares into SIPP
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.614 16,286 Ordinary Shares
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	30 June 2023
f)	Place of the transaction	UK AIM

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For more information, please contact:

NetScientific
Ilian Iliev, CEO	Via Belvedere Communications
WH Ireland (NOMAD, Financial Adviser and Broker)
Chris Fielding / Darshan Patel / Enzo Aliaj	[phone]
Belvedere Communications John West / Llew Angus	[phone]

About NetScientific

NetScientific plc (AIM: NSCI) is deep tech and life sciences VC investment group with an international portfolio of innovative companies.

NetScientific identifies, invests in, and builds high growth companies in the UK and internationally. The company adds value through the proactive management of its portfolio, progressing to key value inflection points, and delivering investment returns through partial or full liquidity events.

NetScientific differentiates itself by employing a capital-light investment approach, making judicial use of its balance sheet and syndicating investments through its wholly owned VC subsidiary, EMV Capital. The group secures a mixture of direct equity stakes and carried interest stakes in its portfolio of companies, creating a lean structure that can support a large portfolio.

NetScientific is headquartered in London, United Kingdom, and is admitted to trading on AIM, a market operated by the London Stock Exchange.

www.netscientific.net

 

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