Grant and Amendment of Options

RNS Number : 6404R

Marimedia Ltd

30 June 2015

 

30 June 2015

Marimedia Ltd.

("Marimedia" or the "Company")

Grant and Amendment of Options

Marimedia (AIM: MARI), a global provider of proprietary technology solutions that leverage big data to optimise online revenue for publishers and advertisers across all platforms in the digital advertising ecosystem, announces that on 30 June 2015 (the "Grant Date") the Board of Marimedia resolved to grant new options to certain employees and amend the exercise price and vesting terms of certain outstanding employee options.

New Options

The Company has granted 1,509,350 options over ordinary shares of NIS 0.01 each in the Company ("Ordinary Shares") to certain employees under the Company's Global Share Incentive Plan (2011) (the "Plan") at an exercise price of 90 pence (the "New Options"), which represents a c.[42]% premium to the closing price of the Company's shares on AIM on 29 June 2015. Fifty percent of the New Options will vest and become exercisable on the second anniversary of the Grant Date, twenty-five percent will vest and become exercisable on the third anniversary of the Grant Date and the remaining twenty-five percent will vest and become exercisable on the fourth anniversary of the Grant Date, subject to such employees remaining employed by the Company or a Company subsidiary on the applicable vesting dates. The New Options will expire on 30 June 2020.

Amended Options

The Board has also approved a change in the exercise price and vesting terms relating to options held by certain employees over an aggregate of 2,861,000 Ordinary Shares under the Plan (the "Amended Options"). None of the Amended Options are held by Directors of the Company. The Amended Options were originally granted as follows:

·   1,015,000 were granted on 1 February 2014 and were originally scheduled to be exercisable from 1 February 2016 at a price of US$2.28 (c.£1.45) with an expiry date of 1 February 2024

·   1,846,000 were granted on 24 February 2015 with an exercise price of £1.3232, the same gradual four-year vesting period as that described above for the New Options (with the exercise period commencing on the second anniversary of 24 February 2015) and an expiry date of 24 February 2020

The Amended Options are now exercisable at a price of 90 pence. The options granted on 1 February 2014 will now vest and become exercisable on 30 June 2017, and will continue to expire on 1 February 2024. The vesting and exercise periods of the options granted on 24 February 2015 remain unchanged.

For further details:

Marimedia Hagai Tal, Chief Executive Officer                                 N+1 Singer - Nomad and Broker Nic Hellyer, James Maxwell, Jen Boorer                        Luther Pendragon Harry Chathli, Claire Norbury, Oli Hibberd

[phone] [phone] [phone]

 

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