KR1 Plc

Variation of Incentive Scheme and Grant of Options

12 January 2021


(“KR1” or the “Company”)

Variation of Incentive Scheme and Grant of Options

KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to announce that the Company’s Compensation Committee has agreed to vary the terms of the existing Directors’ and Analysts’ Bonus Scheme (the “Performance Incentive Scheme” or “Scheme”) so as to further align participants’ interests with those of shareholders.

Specifically, in respect of the period ended on 31 December 2020, the participants in the Performance Incentive Scheme have agreed to receive 80% of any entitlement under the Scheme in the form of new ordinary shares of 0.19p each in the Company (“Ordinary Shares”), with the remaining 20% of any entitlement to be satisfied in cash. Any entitlements under the Scheme will be determined on completion of the audit of the Company’s results for the year ended 31 December 2020 and any Ordinary Shares to be issued in respect of entitlements under the Scheme will be issued at a price equivalent to the audited net asset value per share as at 31 December 2020.

In addition, KR1 announces that Rhys Davies, who was appointed as a Non-Executive Director of the Company on 15 December 2020, has been granted options to subscribe for 767,236 Ordinary Shares  at a price of 19.55p per share, being the share price on the date of his appointment. These options will only be exercisable in the event that  certain future milestones are achieved by the Company.

Rhys Davies, Non-Executive Director of KR1, commented:

“I am delighted to announce the variation of the existing Incentive Scheme in a way that strongly aligns the interests of the team with those of our shareholders, who have benefited significantly from the value created by the management and investment team. By agreeing to receive 80% of any entitlement under the Scheme in the form of shares in the Company, the team have sent a strong signal as to the value they believe is embedded in KR1.”

The Directors of KR1 plc accept responsibility for this announcement.


For further information please contact:

George McDonaugh
Keld van Schreven
Simon Nicol

+44 (0)16 2467 6716

[email protected]
Peterhouse Capital Limited
Mark Anwyl
Allie Feuerlein
(AQSE Corporate Adviser)
+44 (0)20 7469 0930
Nominis Advisory Ltd
Angus Campbell 
(PR Adviser)
[email protected]

About KR1 plc

KR1 is a leading digital asset investment company supporting early-stage decentralised and open source blockchain and DeFi projects. Founded in 2016 and publicly traded in London on the Apex segment of the AQSE Growth Market (KR1: AQSE), KR1 has built a notable reputation for generating significant returns by investing in many key projects that are designed to power the decentralised platforms and protocols that are emerging to form new internet infrastructures.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

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 Rhys Davies
2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name KR1 Plc
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

Ordinary shares of 0.19 pence each

b) Nature of the transaction Grant of Options  
c) Price(s) and volume(s) 767,236 Ordinary Shares at 19.55p per share
d) Aggregated information
- Aggregated volume
- Price

e) Date of the transaction 29 December 2020
f) Place of the transaction Not a market transaction