Grant of Options

RNS Number : 9954H

React Group PLC

09 December 2020

 

9 December 2020

REACT Group Plc

("REACT" or the "Company")

Grant of Options

REACT (AIM: REAT.L), the leading specialist cleaning, hygiene, and decontamination company, announces the grant of options over new ordinary shares of 0.25p each in the Company ("Options").

A total of 11,900,000 Options have been awarded to Mark Braund, Executive Chairman, and Andrea Pankhurst, Chief Financial Officer, under the Company's Enterprise Management Incentive ("EMI") share option plan.

Name of Director	Number of Options granted	Total number of Options and Warrants over Ordinary Shares now held
Mark Braund	8,500,000	28,439,537
Andrea Pankhurst	3,400,000	5,477,038

The Options have an exercise price of 0.25p per Ordinary Share (equivalent to the nominal value of an ordinary share) and, once vested, are exercisable from the date two years after the date of grant up to the date ten years after the date of grant, subject to the performance conditions set out below.

The Options vest subject to performance conditions whereby the average mid-market closing share price of the Company's Ordinary Shares in any consecutive ten-day period until 17 May 2024 remains above the defined levels, as follows:

% of total vesting	Share price
20%	Over 2 pence
40%	Over 2.4 pence
40%	Over 2.8 pence

The Options granted represent 2.4 per cent of the Company's current issued share capital. In total 65,001,412 Options and warrants are now outstanding, representing 13.0 per cent of the Company's current issued share capital.

Further details and the information required in accordance with the requirements of EU Market Abuse Regulation No 596/2014 are set out at the end of this announcement.

For more information:

REACT Group plc
Shaun Doak, Chief Executive Officer Andrea Pankhurst, Chief Financial Officer	via Allenby Capital Tel: [phone]
Allenby Capital Limited (Nominated Adviser and Broker)
Nick Athanas / Liz Kirchner (Corporate Finance) Amrit Nahal / Tony Quirke (Sales & Corporate Broking)	Tel: [phone]

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	PDMRs: Mark Braund Executive Chairman Andrea Pankhurst CFO
2	Reason for the notification
a)	Position/status	See 1a) above
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	REACT Group Plc
b)	LEI	213800H54C4GOFN7MO32
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 of 0.25p each in REACT Group Plc Identification code (ISIN) for REACT Group Plc ordinary shares: GB00BZ2JBG28
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Name  Price(s) Volume(s) Mark Braund 0.25 pence 8,500,000 Andrea Pankhurst 0.25 pence 3,400,000
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transactions	9 December 2020
f)	Place of the transaction	Outside a trading venue

 

END

 

 

DSHKKCBKKBDKDBK