Grant of options

Insig AI Plc

06 June 2024

 

6 June 2024

Insig AI plc

("Insig AI" or the "Company")

Grant of Share Options

Insig AI plc (AIM: INSG), the data science and machine learning group, announces the grant of share options over 7,800,000 ordinary shares of 1 pence each in the Company ("Ordinary Shares") to certain Directors and employees with an expiry date of 5 June 2029 (the "Options").

The Options vest equally over a three-year period, on the first, second and third anniversary of the date of grant and are subject to certain vesting criteria, namely:

-     Revenue exceeding £2.0m for a preceding 12 month rolling period (50% of the award); and

-     Revenue exceeding £3.0m for a preceding 12 month rolling period (50% of the award)

Schedule of Options:

	Position	Date of grant	No. Options granted	Exercise price	Expiry date
Richard Bernstein	CEO	6 June 2024	2,000,000 2,000,000	20p 30p	5 June 2029 5 June 2029
Steven Cracknell	Chief Product Officer	6 June 2024	1,000,000	20p	5 June 2029
Warren Pearson	PDMR	6 June 2024	1,000,000	20p	5 June 2029
Employees (various)	N/A	6 June 2024	1,800,000	20p	5 June 2029

Following the grant of the Options, the Company now has a total of 8,375,000 share options in issue, which represents 7.1% of the current issued share capital.

For further information, please visit www.insg.ai or contact:

Insig AI plc                                                                                        [e-mail]

Richard Bernstein (CEO)          

Zeus (Nominated Adviser & Broker)

David Foreman / James Hornigold                                                         [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	Richard Bernstein
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	Insig AI plc
b)	LEI	21380098CKBAG1NWCD98
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 1 pence each
	Identification code	GB00BYV31355
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			20 pence 30 pence	2,000,000 2,000,000
d)	Aggregated information	N/A single transaction
	- Aggregated volume
	- Price
e)	Date of the transaction	6 June 2024
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Steven Cracknell
2	Reason for the notification
a)	Position/status	Chief Product Officer
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Insig AI plc
b)	LEI	21380098CKBAG1NWCD98
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 1 pence each
	Identification code	GB00BYV31355
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			20 pence	1,000,000
d)	Aggregated information	N/A single transaction
	- Aggregated volume
	- Price
e)	Date of the transaction	6 June 2024
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Warren Pearson
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Insig AI plc
b)	LEI	21380098CKBAG1NWCD98
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 1 pence each
	Identification code	GB00BYV31355
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			20 pence	1,000,000
d)	Aggregated information	N/A single transaction
	- Aggregated volume
	- Price
e)	Date of the transaction	6 June 2024
f)	Place of the transaction	London Stock Exchange

 

END