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Regulatory Story
Company Tekcapital plc
TIDM TEK
Headline Share Options
Released 09:07 16-Sep-2019
Number 4218M09

RNS Number : 4218M
Tekcapital plc
16 September 2019
 

Tekcapital Plc

 

("Tekcapital" or the "Company")

 

Grant of Share Options

 

Tekcapital Plc (AIM: TEK), the UK intellectual property (IP) investment group focused on creating marketplace value from investing in university technology, announces that on 13 September 2019 it awarded a total of 2,850,000 options over ordinary shares of 0.4 pence each in the Company ('Ordinary Shares'). A total of 100,000 options have been granted under the Company's Enterprise Management Incentive Scheme ("EMI Scheme") and 2,750,000 non qualifying options have been awarded to certain directors and consultants of the Company (the Non-qualifying Options together with the EMI Options, being the "Options").

These Options will have an exercise price of 7.83 pence, being the closing mid-market price on 30 August 2019, and they are subject to performance criteria (the criteria requiring a growth in NAV of the Company at a minimum of 8% per annum). As agreed by the Remuneration committee, these Options will vest when the Company as a whole achieves success in some readily measurable way.

 A total of 300,000 Options have been awarded to the following directors:

Director

No. of options granted

Existing no. of options


Option Type

Total no. of options over Ordinary Shares ('Total Options')

Total Options as a percentage of the Company's issued share capital

 

Robert Miller

100,000

220,000


Non-EMI

320,000

0.502%

Bill Payne

100,000

220,000


Non-EMI

320,000

0.502%

Malcom Groat

100,000

100,000


Non-EMI

200,000

0.314%

  

 

Following the issue of the new Options, the total number of Ordinary Shares under option which could be issued if the performance criteria is met is 5,468,333 Ordinary Shares representing 8.58% of the Company's issued share capital.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them are set out below pursuant to the EU Market Abuse regulation.

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

a)

 

Name

Robert Miller

Bill Payne

Malcom Groat

2

 

Reason for the notification

a)

 

Position/status

 

See 1 a) above

b)

 

Initial notification /

Amendment

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

 

Name

 

TEKCAPITAL PLC

b)

 

LEI

 

213800GOJTOV19FIFZ85 

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 0.4p each

 

 

 

ISIN: GB00BKXGY798

 

b)

 

Nature of the transaction

 

Grant of options over ordinary shares

c)

 

Price(s) and volume(s)

 

 

 

Director/PDMR

 Price(s)

Volume(s)

Robert Miller

7.83p per share

100,000

Bill Payne

 

7.83p per share

100,000

Malcom Groat

7.83p per share

100,000

 

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

Price(s)

Volume(s)

7.83p per share

300,000

 

e)

 

Date of the transaction

 

30 August 2019

f)

 

Place of the transaction

 

Outside a trading venue

 

For further information, please contact:

Tekcapital Plc 


Via Yellow Jersey PR 

Clifford M. Gross, Ph.D. 






finnCap Ltd (Nominated Adviser and Joint Broker)


+44 (0) 20 7220 0500 

Geoff Nash/ Max Bullen-Smith (Corporate Finance)



Camille Gochez (ECM) 



Novum Securities Limited (Joint Broker) 


+44 (0) 20 7399 9427

Colin Rowbury (Corporate Broking) 






Yellow Jersey Limited


+44 (0) 20 3004 9512 

Sarah Hollins/ Annabel Atkins 


tekcapital@yellowjerseypr.com 

 

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed intellectual properties and provides a range of IP investment services to make it easy for organisations to commercialise university-developed technology. Tekcapital is quoted 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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