Change of Director Role and Grant of Options

RNS Number : 4145T

Catenae Innovation PLC

20 July 2020

 

Catenae Innovation PLC

("Catenae", the "Company" or the "Group")

Change of Director Role, Directors' Dealings and Grant of Options

Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, announces it has conditionally granted options to certain directors over 15,631,579 new ordinary shares, details of which are set out below.

Mr. Guy Meyer, Interim Chief Executive Officer, has taken on the role of Chief Executive Officer on a permanent basis with immediate effect.

Guy Meyer has been conditionally granted options over a maximum of 11,578,947 new ordinary shares (representing a maximum of 5.34% of the current issued capital of the Company) in the Company.

John Farthing, Chief Financial Officer, has been conditionally granted options over a maximum of 4,052,632 new ordinary shares (representing a maximum of 1.87% of the current issued capital of the Company) in the Company.

All of the above options have an exercise price of 3.8 pence.

The options vest if the Company's 30-day volume weighted average share price is above the Vesting Criteria for a period of 15 consecutive calendar days as set out in the table below.

Number of new shares under option for Guy Meyer	Number of new shares under option for John Farthing	Vesting Criteria
6,578,947	2,302,632	10p
2,000,000	700,000	20p
1,000,000	350,000	30p
1,000,000	350,000	40p
1,000,000	350,000	50p
11,578,947	4,052,632

The grant of the options will be made under the Catenae Innovation plc 2020 Share Plan (the "Plan") proposed to be adopted by the Company. Of the total number of options to be granted to Guy Meyer under the Plan, it is intended that up to 6,578,947 options will be EMI qualifying with the remaining options being unapproved options. All of the options intended to be granted to John Farthing under the Plan are intended to be EMI qualifying options.

The option grants above are conditional on shareholder approval at the forthcoming Annual General Meeting.

The current issued share capital of the Company comprises 216,999,043 ordinary shares of 0.2p each.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged for release of this announcement on behalf of the Company was Guy Meyer, Chief Executive Officer of the Company.

- Ends -

For further information please contact:

Catenae Innovation PLC	[phone]
Guy Meyer, Ch ief Executive Officer
Cairn Financial Advisers LLP (Nominated Adviser)	[phone]
Liam Murray / Jo Turner
Brandon Hill Capital Limited, Broker	[phone]
Andy Gutmann	[phone]
Yellow Jersey PR (PR & IR)	[phone]
Sarah Hollins / Annabel Atkins

Notes to Editors:

About Catenae Innovation PLC

Catenae Innovation is an AIM quoted provider of digital media and technology services. The Company specialises in Distributed Ledger Technology solutions that solve commercial challenges and create opportunities for its clients. The Company has an experienced IT team of project managers and integrators who have deployed systems across corporate, government and educational sectors.

www.catenaeinnovation.com

 

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