Grant of Options

RNS Number : 3433H

Hardide PLC

16 August 2016

 

16 August 2016

 Hardide plc

("Hardide" or "the Group" or "the Company")

 Grant of Options

 Hardide (AIM: HDD), the provider of advanced surface coating technology, announces that in order to continue to incentivise them appropriately, it has today granted share options to its Chairman, Chief Executive Officer, Finance Director and Technical Director under its Share Option Plan (the "New Options").  The New Options are over a total of 36,000,000 new Ordinary shares with a nominal value of 0.1p each in the capital of the Company ("Ordinary Shares") and at an exercise price of 0.8p each, that being the price of the Subscription previously announced on 9^th August 2016.  The New Options have been granted as follows:

Director	New Options granted	Total number of options following the grant of New Options	Interest in existing issued Ordinary Shares
Robert Goddard, Chairman	6,000,000	16,181,000	6,723,050
Philip Kirkham, Chief Executive Officer*	20,000,000	40,000,000	2,004,717
Peter Davenport, Finance Director*	3,500,000	12,351,000	4,376,667
Dr Yuri Zhuk, Technical Director*	6,500,000	18,351,000	6,281,132

*Executive Director

The New Options will, subject to the satisfaction of certain performance conditions, vest in full immediately once the Board has determined that such criteria have been met. In accordance with the scheme rules, the options must be exercised within ten years of being granted but will lapse if the vesting criteria are not met.  For the avoidance of doubt these options will be granted only once and not in respect of each year in which the vesting criteria are met.  In summary the vesting criteria are:

i)             The Company is EBITDA positive in any one of the full financial years to 30th September of 2017, 2018 or 2019;

ii)            The closing mid-market price of the Company's Ordinary Shares reaches 2.5p within twelve months of the relevant financial year end set out in point i) above; and

iii)           Both of the criteria in i) and ii) above are met

The New Options will also vest in full in the event of a change of control.

In aggregate, the New Options represent 2.57% of the existing Ordinary share capital of the Company and following the grant of the New Options, the Company has a total of 116,759,600 unexercised options pursuant to its Share Option Plan.  This amounts to approximately 8.34% of the existing issued Ordinary share capital of the Company of 1,400,691,804 shares.

The information in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

For further information:
Hardide plc  Philip Kirkham, CEO  Jackie Robinson, Communications Manager	Tel: [phone]
finnCap  Stuart Andrews / Grant Bergman / James Thompson	Tel: [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	Robert Goddard
2.	Reason for the Notification
a)	Position/status	Chairman
b)	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Hardide plc
b)	LEI	n/a
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 0.1p each
	Identification code	GB00B069T034
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.8 pence 6,000,000
d)	Aggregated information: ·      Aggregated volume ·      Price	6,000,000 options over ordinary shares of 0.1 pence granted at 0.8 pence per ordinary share
e)	Date of the transaction	16 August 2016
f)	Place of the transaction	London Stock Exchange, AIM Market

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

5.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Philip Kirkham
6.	Reason for the Notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial Notification
7.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Hardide plc
b)	LEI	n/a
8.	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 0.1p each
	Identification code	GB00B069T034
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.8 pence 20,000,000
d)	Aggregated information: ·      Aggregated volume ·      Price	20,000,000 options over ordinary shares of 0.1 pence granted at 0.8 pence per ordinary share
e)	Date of the transaction	16 August 2016
f)	Place of the transaction	London Stock Exchange, AIM Market

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

9.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Peter Davenport
10.	Reason for the Notification
a)	Position/status	Finance Director
b)	Initial notification/Amendment	Initial Notification
11.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Hardide plc
b)	LEI	n/a
12.	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 0.1p each
	Identification code	GB00B069T034
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.8 pence 3,500,000
d)	Aggregated information: ·      Aggregated volume ·      Price	3,500,000 options over ordinary shares of 0.1 pence granted at 0.8 pence per ordinary share
e)	Date of the transaction	16 August 2016
f)	Place of the transaction	London Stock Exchange, AIM Market

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

13.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Dr Yuri Zhuk
14.	Reason for the Notification
a)	Position/status	Technical Director
b)	Initial notification/Amendment	Initial Notification
15.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Hardide plc
b)	LEI	n/a
16.	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 0.1p each
	Identification code	GB00B069T034
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.8 pence 6,500,000
d)	Aggregated information: ·      Aggregated volume ·      Price	6,500,000 options over ordinary shares of 0.1 pence granted at 0.8 pence per ordinary share
e)	Date of the transaction	16 August 2016
f)	Place of the transaction	London Stock Exchange, AIM Market

 

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