Grant of Options

RNS Number : 7260C

Tekcapital plc

30 June 2016

 

30 June 2016 

Tekcapital plc

("Tekcapital" or "the Company")

Grant of Share Options

The Board of Tekcapital plc (AIM: TEK), an international provider of technology and intellectual property services, announces the grant of 700,000 options to subscribe for new ordinary shares of 0.4 pence each in the Company ("Ordinary Shares") (the "Options").

The Options were granted on 29 June 2016 (the "Grant Date") under the Company's EMI Share Option Scheme ("EMI") and Unapproved Share Option Plan ("Non-EMI"). 400,000 of these Options have been issued to certain directors, with the balance issued to employees and other recently engaged Vortechs Group associates to the Company.

The Options have an exercise price of 37.5p per share, being the closing mid-market price of Ordinary Shares on 28 June 2016. The Options granted to directors and employees vest over a three year period in equal tranches from the Grant Date, but vest immediately if the mid-market price of Ordinary Shares is maintained at or above £1.00 for ten consecutive trading days. The Options granted to Vortechs Group associates vest on meeting certain financial targets over three years.  All of the Options will expire on the fifth anniversary of the Grant Date.

Following the grant of the Options the total number of options outstanding to subscribe for new ordinary shares in the Company is 3,210,000, representing 9.06% of the Company's current issued share capital.

The Options issued to directors are detailed below:

Name	Current number of options held	Number of Options granted	Option Type	Total number of Options now held	Percentage of current issued share capital
Malcolm Groat	200,000	100,000	EMI	300,000	0.85%
Robert Miller	120,000	100,000	Non-EMI	220,000	0.62%
Bill Payne	195,000	100,000	Non-EMI	295,000	0.83%
Susan Greenfield	150,000	100,000	Non-EMI	250,000	0.71%
Total	665,000	400,000		1,065,000	3.01%

For further information please contact:

Tekcapital Plc	[phone] Ext 305
Clifford M. Gross	[e-mail]
Allenby Capital Limited (Nominated Adviser & Joint Broker)	[phone]
Jeremy Porter / Alex Brearley / Richard A Short
Optiva Securities Limited (Joint Broker)	[phone]
Jeremy King / Vishal Balasingham	[e-mail]
Walbrook PR Ltd	[phone]
Paul Cornelius / Paul McManus / Helen Cresswell	[e-mail]

Tekcapital plc - The World's Largest University Network for Open Innovation

Tekcapital helps clients profit from new, university-developed intellectual properties. With our proprietary discovery search engine, linked to 4,000+ universities in 160 countries, coupled with expert scientific review, we provide a turn-key service to make it easy for clients to find and acquire the IP, analytics and technology transfer professionals they need to create a competitive advantage. Tekcapital plc is listed on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in Oxford, in the UK. For more information, please visit www.tekcapital.com

 

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