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:
No. of options granted
Existing no. of options
Total no. of options over Ordinary Shares ('Total Options')
Total Options as a percentage of the Company's issued share capital
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 representing8.58% 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.
Details of the person discharging managerial responsibilities / person closely associated
Reason for the notification
See 1 a) above
Initial notification /
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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
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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