Award of Options and Directors' Shareholdings

FireAngel Safety Technology Group

11 August 2023

 

11 August 2023

FireAngel Safety Technology Group plc

('FireAngel', the 'Company' or the 'Group')

 Award of Options

and

Director shareholding

Further to the Company's announcement on 6 June 2023 ("Announcement"), FireAngel (AIM: FA.), one of Europe's leading developers and suppliers of home safety products, announces further details of the award of options ("Options") over the Company's ordinary shares of 2 pence each (the "Shares") to Neil Radley, the Company's Chief Executive Officer, under its Long-Term Incentive Plan ('LTIP'). Pursuant to the calculation set out in the Announcement, Options over 7,263,157 Shares were awarded to Mr Radley on 7 June 2023.

In addition, on 11 August 2023, Options over 4,264,000 Shares were awarded to Zoe Fox, the Company's Chief Finance Officer, under the LTIP.

The Options may be exercised at any time after 31 December 2025 ("Vesting Date"), at a cost to the employee of the nominal value of the Shares, being 2 pence per Share. The Options expire on 11 August 2033.

Vesting of the Options is dependent on a performance target, based on total shareholder return ("TSR"). The maximum number of Options that vest and become exercisable into Shares on the Vesting Date is calculated as follows for the performance condition:

Share Price	% of Options Vesting
Less than 6p	0%
From 6p to 8p	25%
Greater than 8p to 11p	50%
Greater than 11p to 15p	75%
Greater than 15p	100%

In the event of an acquisition (or equivalent) 50% shares vest at any price up to 8.0p and 100% above 8.0p.

Following the above awards, the total interest of Mrs Fox and Mr Radley in Shares, warrants and options over Shares is as follows:

Name	Number of Ordinary Shares held	% of issued share capital	Interest in Shares in LTIP	Warrants
Zoe Fox	277,738	0.09%	6,607,260	94,455
Neil Radley	1,889,080	0.62%	7,263,157	944,540

ENDS 

For further information, please contact:

FireAngel Safety Technology Group plc	024 7771 7700
Neil Radley, Chief Executive Officer
Zoe Fox, Chief Finance Officer
Shore Capital (Nominated adviser and broker)
Tom Griffiths/David Coaten/Tom Knibbs	020 7408 4050
Houston (Financial PR)
Kate Hoare/Ben Robinson/Kelsey Traynor	0204 529 0549

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

Notes to Editors

About FireAngel Safety Technology Group plc

FireAngel's mission is to protect and save lives by making innovative home safety products which are simple and accessible. FireAngel is one of the market leaders in the European home safety products market. 

FireAngel's principal products are connected smoke alarms, CO alarms, heat alarms and accessories.  The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories.  Products are sold under FireAngel's leading brands of FireAngel, FireAngel Pro, FireAngel Specification and AngelEye.

For further product information, please visit:  www.fireangeltech.com

	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Neil Radley
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	FireAngel Safety Technology Group plc
b)	LEI	213800NUMP6JL24PJ797
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	Options over Ordinary shares of 2p each GB0030508757
b)	Nature of transaction	Award of Options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		2p exercise price per Option	7,263,157
	Aggregated information -      Aggregated volume -      Price	N/A
e)	Date of the transaction	7 June 2023
f)	Place of the transaction	Outside of a trading venue

	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Zoe Fox
2	Reason for the notification
a)	Position/status	Chief Finance Officer
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	FireAngel Safety Technology Group plc
b)	LEI	213800NUMP6JL24PJ797
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	Options over Ordinary shares of 2p each GB0030508757
b)	Nature of transaction	Award of Options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		2p exercise price per Option	4,264,000
	Aggregated information -      Aggregated volume -      Price	N/A
e)	Date of the transaction	11 August 2023
f)	Place of the transaction	Outside of a trading venue

 

END