Employee Share Scheme

RNS Number : 8094X

Grafenia plc

15 August 2018

 

15 August 2018

 Grafenia plc

("Grafenia" or the "Company")

Employee Share Scheme

Grafenia plc (AIM: GRA) is pleased to announce that it has granted further options under the Company's Save as You Earn share scheme for all employees (the "Scheme"). The Scheme was launched in January 2017 and offers employees the opportunity to participate in the future growth of the Company through the granting of share options.

The scheme requires employees to commit to making a fixed regular payment of between £5 and £500 for 36 months. These instalments are paid into a savings account, operated by Royal Bank of Scotland plc, held independently from the Company.

Eligible employees were invited to subscribe for options over ordinary shares of 1 penny each in the Company ("Ordinary Shares") with an exercise price of 11.5 pence per share, representing the closing mid-market price of the Ordinary Shares on the day prior to the invitation to participate which was made on 20 July 2018. The options have a savings contract start date of 1 September 2018 and are exercisable when all 36 payments have been made, between 1 September 2021 and 28 February 2022.

A total of 52 employees elected to participate in the Scheme and, pursuant to this, a grant of 1,505,719 options over Ordinary Shares was made on 14 August 2018, equating to 1.96 per cent of the current total voting rights in the Company.  Including previous grants under the Scheme the total number of shares now under option is 5,674,730 equating to 7.39 per cent of the current total voting rights in the Company.

Peter Gunning, CEO, commented:

"Last year we launched our Save as You Earn Scheme. We thought that the best way to encourage our teams to think like owners of the business, was to actually help them become owners. To give them a path to becoming shareholders. Since then, our team has grown. We've brought sign businesses into the Grafenia family. We decided to open the Scheme again this year so that new members could join too. We're delighted so many did. In fact, around half of our whole team is now participating in the Scheme. Colleagues from all business units and roles. From production to studios. From designers to installers. We're all working towards the same goal of taking Grafenia to the next level."

For further information:

Grafenia plc Peter Gunning (CEO)	07973 191 632
Allenby Capital Limited (Nominated Adviser and broker) Virginia Bull / Liz Kirchner / Nicholas Chambers	0203 328 5656

 

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