28 October 2021
PipeHawk plc
("PipeHawk", "Company" or the "Group")
Grant of options
The Company announces that on 18 March 2021, the Board approved the issue of 1,590,000 share options as part of the Group's existing strategy on key employee remuneration ("Options Scheme"). As part of the Options Scheme allocation, 750,000 share options were granted to Gordon Watt, Executive Chairman, 300,000 share options granted to Soumitra Padmanathan, Group Finance Director & Secretary and 200,000 share options granted to Randal MacDonnell, Non-Executive Director. The remaining 340,000 share options were granted to employees of the Group.
The options have an exercise price of 8 pence. The options are exercisable from 18 March 2024 to 18 March 2031.
Following the issue of the above options, Mr Watt, Ms Padmanathan and Mr MacDonnell will be interested in the following options:
| | | | | | |
| Director | | | Number of options | Exercise price | Date from which exercisable |
| | | | | | |
| G G Watt | | | 750,000 | 8.0p | 18 Mar 2024 |
| S P Padmanathan | | | 200,000 | 3.9p | 15 Nov 2019 |
| S P Padmanathan | | | 300,000 | 8.0p | 18 Mar 2024 |
| R MacDonnell | | | 200,000 | 8.0p | 18 Mar 2024 |
| | | | | | |
In addition to the above, in consideration of loans made to the Company, Mr Watt has warrants over 3,703,703 ordinary shares at an exercise price of 13.5p per share and warrants over a further 6,000,000 ordinary shares at an exercise price of 3.0p per share.
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 | Gordon G Watt | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Director - Chairman | ||||
| b) | Initial notification/Amendment | Initial Notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | PipeHawk Plc | ||||
| b) | LEI | 213800CYT8OXEYWCNO29 | ||||
| 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 | Grant of options over ordinary shares of 0.1p
| ||||
| Identification code | ISIN: GB0003010609 | |||||
| b) | Nature of the transaction | Grant of options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: - Aggregated volume - Price | N/A | ||||
| e) | Date of the transaction | 18 March 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Soumitra P Padmanathan | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Director - Group Finance Director & Secretary | ||||
| b) | Initial notification/Amendment | Initial Notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | PipeHawk Plc | ||||
| b) | LEI | 213800CYT8OXEYWCNO29 | ||||
| 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 | Grant of options over ordinary shares of 0.1p
| ||||
| Identification code | ISIN: GB0003010609 | |||||
| b) | Nature of the transaction | Grant of options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: - Aggregated volume - Price | N/A | ||||
| e) | Date of the transaction | 18 March 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Randal MacDonnell | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Non-Executive Director | ||||
| b) | Initial notification/Amendment | Initial Notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | PipeHawk Plc | ||||
| b) | LEI | 213800CYT8OXEYWCNO29 | ||||
| 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 | Grant of options over ordinary shares of 0.1p
| ||||
| Identification code | ISIN: GB0003010609 | |||||
| b) | Nature of the transaction | Grant of options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: - Aggregated volume - Price | N/A | ||||
| e) | Date of the transaction | 18 March 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
Enquiries:
| PipeHawk Plc | Tel. No. 01252 338 959 |
| Allenby Capital (Nomad and Broker) | Tel. No. 020 3328 5656 |
Notes to Editors
For further information on the Company and its subsidiaries, please visit: www.pipehawk.com
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