Issue of Options

RNS Number : 5659Z

KRM22 PLC

21 September 2020

 

KRM22 plc

("KRM22", the "Group" or the "Company")

Issue of Options

KRM22 plc, (AIM: KRM) the technology and software investment company that focuses on risk management for capital markets, announces the issue of a total of 1,131,367 share options ("Options") and a restricted stock award of 253,162 ("Restricted Stock") to subscribe for new ordinary shares of 10p each in the Company ("Ordinary Shares") to employees and certain Directors of the Company including Keith Todd (Executive Chairman and CEO), Stephen Casner (President), Kim Suter (CFO) and Sandy Broderick (Non-executive Director) under the Company's Employee Share Option Plan.

The Options and Restricted Stock were awarded in exchange for salary deferrals, and the related accrued repayment bonuses, undertaken by certain employees in 2019/20 as part of the Company's management of cashflows. The accrued repayment bonuses were due to be repaid at an uncommitted future date however, as part of the new Debt Facility agreed with Kestrel Partners LLP on 15 September 2020, it was agreed that the accrued repayment bonus liability would be converted to Options.

Of the total of 1,131,367 Options issued, Keith Todd has been issued with 287,831 Options, Kim Suter has been issued with 124,342 Options and Sandy Broderick has been issued with 59,210 Options on the same terms as all other employees. Stephen Casner has been issued 253,162 shares of Restricted Stock on different terms (as described below).

Following the issue, the Directors will hold the following Options:

	Existing options over Ordinary Shares	Options over Ordinary Shares	Total options over Ordinary Shares following the issue	Total options as a % of the issued share capital
Keith Todd	-	287,831	287,831	1.08%
Kim Suter	211,875	124,342	336,217	1.26%
Sandy Broderick	10,000	59,210	69,210	0.26%

The Restricted Stock, which constitute 0.95% of the issued share capital, was issued to Stephen Casner.

The Options are exercisable at 38 pence and will vest over three years in 36 equal monthly instalments of which the first instalment shall vest one month after the date of the grant. The Restricted Stock will vest on the third anniversary of the date of grant.

Following this announcement, there is a total of 3,355,319 Options over Ordinary Shares representing 12.56% of the current issued share capital of the Company and a total of 253,162 Restricted Stock representing 0.95% of the current issued share capital of the Company.

For further information please contact:

KRM22 plc  [e-mail]

Keith Todd CBE, Executive Chairman and CEO

Kim Suter, CFO

finnCap Ltd (Nominated Adviser and Sole Broker)  [phone]

Carl Holmes / Kate Bannatyne / Matthew Radley

Alice Lane / Sunila de Silva (ECM)

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

About KRM22 plc

KRM22 is a closed-ended investment company which listed on AIM on 30 April 2018.  The Company has been established with the objective of creating value for its investors through the investment in, and subsequent growth and development of, target companies in the technology and software sector, with a focus on risk management in capital markets.

Through its investments and the Global Risk Platform, KRM22 helps capital market companies reduce the cost and complexity of risk management.  The Global Risk Platform provides applications to help address firms' regulatory, market, technology and operations risk challenges and to manage their entire enterprise risk profile.

Capital markets companies' partner with KRM22 to optimise risk management systems and processes, improving profitability and expanding opportunities to increase portfolio returns by leveraging risk as alpha.

KRM22 plc is listed on AIM and the Group is headquartered in London, with offices in several of the world's major financial centres.

See more about KRM22 at  KRM22.com .

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Keith Todd
2.	Reason for the Notification
a)	Position/status	Executive Chairman and CEO
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	KRM22 Plc
b)	LEI	213800IBCSBLSLJ9OD78
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 10 pence each
	Identification code	GB00BFM6WC61
b)	Nature of the transaction	Issue of options
c)	Price(s) and volume(s)	Price(s) Volume(s) 38p 287,831
d)	Aggregated information: · Aggregated volume · Price	See 4c) above
e)	Date of the transaction	18 September 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen Casner
2.	Reason for the Notification
a)	Position/status	President
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	KRM22 Plc
b)	LEI	213800IBCSBLSLJ9OD78
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	Grant of Common Stock restricted to vest 3 years from grant date
	Identification code	GB00BFM6WC61
b)	Nature of the transaction	Stock Grant
c)	Price(s) and volume(s)	Price(s) Volume(s) 38p 253,162
d)	Aggregated information: · Aggregated volume · Price	See 4c) above
e)	Date of the transaction	18 September 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Kim Suter
2.	Reason for the Notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	KRM22 Plc
b)	LEI	213800IBCSBLSLJ9OD78
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 10 pence each
	Identification code	GB00BFM6WC61
b)	Nature of the transaction	Issue of options
c)	Price(s) and volume(s)	Price(s) Volume(s) 38p 124,342
d)	Aggregated information: · Aggregated volume · Price	See 4c) above
e)	Date of the transaction	18 September 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Sandy Broderick
2.	Reason for the Notification
a)	Position/status	Non-Executive Director
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	KRM22 Plc
b)	LEI	213800IBCSBLSLJ9OD78
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 10 pence each
	Identification code	GB00BFM6WC61
b)	Nature of the transaction	Issue of options
c)	Price(s) and volume(s)	Price(s) Volume(s) 38p 59,210
d)	Aggregated information: · Aggregated volume · Price	See 4c) above
e)	Date of the transaction	18 September 2020
f)	Place of the transaction	Outside a trading venue

 

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