Grant of Share Options to Directors

Velocys PLC

20 June 2023

 

Velocys PLC

20 June 2023

Velocys plc

("Velocys" or "the Company")

Grant of Share Options to Directors

Velocys plc (VLS.L), the sustainable fuels technology company, today announces that, on 19 June 2023, Henrik Wareborn, Chief Executive Officer and a director of the Company and Philip Sanderson, Chief Financial Officer and a director of the Company, were granted options ("Annual Awards") under the Velocys 2021 Share Option Scheme over the Company's £0.01 Ordinary shares ("Ordinary Shares"). The Annual Awards, which have been made under the Rules of the Velocys 2021 Share Option Scheme are as follows:

Name of Director	Type of share option	Number of share options granted	Exercise price	Vesting/ Exercise (See notes below)	Number of share options as % of present issued share capital
Henrik Wareborn	Annual Award 2022	9,000,000	£0.025	Note 1	0.54%
Philip Sanderson	Annual Award 2022	7,500,000	£0.025	Note 1	0.45%

Following these notifications:

(i)      Henrik Wareborn is interested in 3,118,445 Ordinary Shares and Options over 22,858,254 Ordinary Shares of the Company, together representing 1.57% of the present issued share capital of the Company.

(ii)       Philip Sanderson is interested in 600,000 Ordinary Shares and Options over 12,500,000 Ordinary Shares of the Company, together representing 0.79% of the present issued share capital of the Company.

The Annual Awards are in addition to grants of share options over 34,282,000 Ordinary Shares (representing 2.08% of the present issued share capital) to Velocys' other key staff in respect of share awards for the 2022 financial year.

The above options are subject to terms for Malus and Clawback and may not in any event be exercised later than the day immediately preceding the fifth anniversary of the date of grant.

Note 1: The Annual Awards vest as to:

(i)       100% on the third anniversary of the date of grant subject to the total market capitalisation of the Company being 50% higher on the third anniversary of the date of grant compared with the market capitalisation of the Company at the date of the grant.

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Enquiries:

Velocys Henrik Wareborn, CEO Philip Sanderson, CFO	[phone]
Panmure Gordon (UK) Limited (Nomad and Joint Broker) Emma Earl (Corporate Finance) John Prior (Corporate Finance) Hugh Rich (Corporate Broking)	[phone]
Shore Capital Stockbrokers Limited (Joint Broker) Henry Willcocks (Corporate Broking) Toby Gibbs (Corporate Advisory) James Thomas (Corporate Advisory)	[phone]
Buchanan (Financial PR) Helen Tarbet Simon Compton	[phone]
Radnor Capital (Investor Relations) Joshua Cryer Iain Daly	[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	a)   Henrik Wareborn b)   Philip Sanderson
2	Reason for the notification
a)	Position/status	a)   Chief Executive Officer b)   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	VELOCYS PLC
b)	LEI	549300KGMQV70HA5Y715
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 £0.01 each
b)	Identification code	ISIN: GB00B11SZ269
c)	Nature of the transaction	Grant of share options
d)	Price(s) and volume(s)	Price(s) Volume(s) a) 2.5 pence a) 9,000,000 b) 2.5 pence b) 7,500,000
e)	Aggregated information	16,500,000 2.5 pence
f)	Date of the transaction	19 June 2023
g)	Place of the transaction	Outside a trading venue

 

 

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