Grant of Share Options

RNS Number : 5368N

Falanx Group Limited

25 September 2019

 

25 September 2019

FALANX GROUP LIMITED

(the "Company")

Grant of share options

Falanx Group Limited (AIM: FLX), the global cyber security and intelligence services provider, announces that Mike Read, CEO, announces that it has today it awarded a total of 28,500,000 options (the "Options") over ordinary shares of nil par value each in the Company ("Ordinary Shares"). A total of 13,000,000 Options have been granted under the Company's existing Enterprise Management Incentive Scheme ("EMI Scheme") and 15,500,000 non-qualifying options have been awarded to certain directors  and non-qualifying employees of the Company (the "Non-qualifying Options"). A total of 10,000,000 of the Non-Qualifying Options have been awarded to the following directors:

Director	Number of Options granted	Total number of options over Ordinary Shares	Total number of options as a percentage of the Company's issued share capital
Mike Read (CEO)	5,000,000	11,500,000	2.87%
Ian Selby (CFO)	5,000,000	11,500,000	2.87%

The Options have an exercise price of 1.925 pence per Ordinary Share (the "Exercise Price"), being the closing mid-market price on 24 September 2019, and will vest:

·      as to 9,405,000 Options (representing 33% of the total Options) immediately;

·      as to 9,405,000 Options (representing 33% of the total Options), provided that the share price of the Company exceeds 2.89 pence (50% share price growth over the Exercise Price) for a period of one calendar month; and

·      as to the balance of 9,690,000 Options (representing 34% of the total Options), provided that the share price of the Company exceeds 3.85 pence (100% growth over the Exercise Price) for a period of one calendar month.

Once vested the Options are exercisable between 1 April 2020 and 31 March 2030, subject to accelerated vesting and exercise in certain customary scenarios.

Enquiries:

Falanx Group Limited Alex Hambro Chairman Mike Read CEO Ian Selby CFO	Via IFC
Stifel Nicolaus Europe Limited, Nomad and Joint Broker Fred Walsh / Alex Price / Neil Shah	+ 44 (0) 207 710 7600
Turner Pope International Limited, Joint Broker James Pope / Ben Turner	[phone]
IFC Advisory Ltd Financial PR & IR Graham Herring / Miles Nolan / Zach Cohen	[phone]

About Falanx

Falanx Group Limited, is a global intelligence and cyber defence provider working with blue chip and government clients. For more information: http://www.falanx.com/

Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated ("PCA") with them.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Names	Michael David Read
2	Reason for the notification
a)	Position/status	CEO
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Falanx Group Limited
b)	LEI	213800YO4F9CUQLALV19
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	Ordinary Shares of nil par value
b)	Identification code	VGG3338A1075
c)	Nature of the transaction	Grant of options over Ordinary Shares
d)	Price(s) and volume(s)	Volume(s): 5,000,000 Ordinary Shares Price: 1.925 pence per Ordinary Share
d)	Aggregated information  - Aggregated volume - Price	N/A
e)	Date of the transactions	25 September 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Names	Ian Selby
2	Reason for the notification
a)	Position/status	CFO
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Falanx Group Limited
b)	LEI	213800YO4F9CUQLALV19
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	Ordinary Shares of nil par value
b)	Identification code	VGG3338A1075
c)	Nature of the transaction	Grant of options over Ordinary Shares
d)	Price(s) and volume(s)	Volume(s): 5,000,000 Ordinary Shares Price: 1.925 pence per Ordinary Share
d)	Aggregated information  - Aggregated volume - Price	N/A
e)	Date of the transactions	24 September 2019
f)	Place of the transaction	Outside a trading venue

 

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