Share Options

RNS Number : 4218M

Tekcapital plc

16 September 2019

 

Tekcapital Plc

("Tekcapital" or the "Company")

Grant of Share Options

Tekcapital Plc (AIM: TEK), the UK intellectual property (IP) investment group focused on creating marketplace value from investing in university technology, announces that on 13 September 2019 it awarded a total of 2,850,000 options over ordinary shares of 0.4 pence each in the Company ('Ordinary Shares'). A total of 100,000 options have been granted under the Company's Enterprise Management Incentive Scheme ("EMI Scheme") and 2,750,000 non qualifying options have been awarded to certain directors and consultants of the Company (the Non-qualifying Options together with the EMI Options, being the "Options").

These Options will have an exercise price of 7.83 pence, being the closing mid-market price on 30 August 2019, and they are subject to performance criteria (the criteria requiring a growth in NAV of the Company at a minimum of 8% per annum). As agreed by the Remuneration committee, these Options will vest when the Company as a whole achieves success in some readily measurable way.

 A total of 300,000 Options have been awarded to the following directors:

Director	No. of options granted	Existing no. of options		Option Type	Total no. of options over Ordinary Shares ('Total Options')	Total Options as a percentage of the Company's issued share capital
Robert Miller	100,000	220,000		Non-EMI	320,000	0.502%
Bill Payne	100,000	220,000		Non-EMI	320,000	0.502%
Malcom Groat	100,000	100,000		Non-EMI	200,000	0.314%

Following the issue of the new Options, the total number of Ordinary Shares under option which could be issued if the performance criteria is met is 5,468,333 Ordinary Shares representing 8.58% of the Company's issued share capital.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them are set out below pursuant to the EU Market Abuse regulation.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Robert Miller Bill Payne Malcom Groat
2	Reason for the notification
a)	Position/status	See 1 a) above
b)	Initial notification / Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	TEKCAPITAL PLC
b)	LEI	213800GOJTOV19FIFZ85
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 0.4p each ISIN: GB00BKXGY798
b)	Nature of the transaction	Grant of options over ordinary shares
c)	Price(s) and volume(s)	Director/PDMR  Price(s) Volume(s) Robert Miller 7.83p per share 100,000 Bill Payne 7.83p per share 100,000 Malcom Groat 7.83p per share 100,000
d)	Aggregated information - Aggregated volume - Price	Price(s) Volume(s) 7.83p per share 300,000
e)	Date of the transaction	30 August 2019
f)	Place of the transaction	Outside a trading venue

For further information, please contact:

Tekcapital Plc		Via Yellow Jersey PR
Clifford M. Gross, Ph.D.
finnCap Ltd (Nominated Adviser and Joint Broker)		[phone]
Geoff Nash/ Max Bullen-Smith (Corporate Finance)
Camille Gochez (ECM)
Novum Securities Limited (Joint Broker)		[phone]
Colin Rowbury (Corporate Broking)
Yellow Jersey Limited		[phone]
Sarah Hollins/ Annabel Atkins		[e-mail]

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed intellectual properties and provides a range of IP investment services to make it easy for organisations to commercialise university-developed technology. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in Oxford, in the UK. For more information, please visit www.tekcapital.com

 

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