LEI: 213800FLQUB9J289RU66
3 January 2023
BATM Advanced Communications Limited
("BATM" or "the Company")
Grant of Options
Further to the Company's announcements of 24 November and 21 December 2022, BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, announces that the Company granted, on 1 January 2023 (the "Grant Date"), options over ordinary shares of 0.01 NIS each in the capital of the Company ("Ordinary Shares") to certain Directors as follows:
| Name | Role | Number of options granted | Options exercise price | Period and conditions of vesting |
| Gideon Chitayat* | Chairman | 1,229,369 | 25.49 pence | The options fully vest on the first anniversary of the Grant Date. |
| Moti Nagar | CEO | 16,433,937 | 25.49 pence
| One-third of the options will vest on each of the first, second and third anniversaries of the Grant Date. |
* Dr. Chitayat's options were granted to GMBS General Management & Business Strategy Consultants Ltd., a service company through which Dr. Chitayat provides his services to the Company
The options were granted under the BATM Advanced Communications Ltd. Global Share Incentive Plan (2021) ("SIP (2021)"). The exercise price represents the average closing price of the Company's Ordinary Shares on the London Stock Exchange over the 30 trading days preceding the Grant Date. The options granted to Mr. Nagar have a total grant value of 2% of the value of the Company on the Grant Date, as approved by shareholders at the Company's annual general meeting of 21 December 2022. Each grantee's options are exercisable subject to that grantee remaining a service provider of the Company and for 90 days thereafter.
Following the above option grants, Mr. Nagar and Dr. Chitayat hold options over Ordinary Shares and Restricted Share Units ("RSUs") as detailed below:
| Instrument | Scheme | Number | Date of grant | Exercise price (if applicable) | Date of first vesting | Conditions of vesting/exercise* | Expiry date (if applicable) |
| Gideon Chitayat, Chairman | |||||||
| Options over Ordinary Shares | SIP (2021) | 1,229,369 | 01/01/23 | 25.49 pence | 01/01/24 | The options fully vest on the first anniversary of the grant date. | 01/01/33 |
| Moti Nagar, CEO | |||||||
| Options over Ordinary Shares | ESOP (2004) | 906,200 | 05/05/15 | 12.69 pence | 31/12/16 | The options are fully vested and are exercisable. | 04/05/25 |
| SIP (2021) | 16,433,937 | 01/01/23 | 25.49 pence | 01/01/24 | The options vest equally on the first, second and third anniversaries of the date of grant. | 01/01/33 | |
| Restricted Share Units | SIP (2021) | 537,109 | 12/04/22 | N/A | 12/04/25 | The RSUs vest on the third anniversary of the grant date subject to total shareholder return performance over the three-year period (for details, see page 56 of BATM's Annual Report 2021). If, and to the extent that, these RSUs vest, the resulting ordinary shares will be subject to a two-year holding period, however, sufficient awards may be sold during the holding period to satisfy any tax liabilities owed. | N/A |
* All options and RSUs are subject to the provisions of the scheme under which they were granted and are exercisable subject to the grantee remaining a service provider of the Company and for 90 days thereafter.
Enquiries:
| BATM Advanced Communications | |
| Moti Nagar, Chief Executive Officer | +972 9866 2525 |
|
| |
| Shore Capital | |
| Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory) | +44 20 7408 4050 |
|
| |
| Gracechurch Group | |
| Harry Chathli, Claire Norbury | +44 20 4582 3500 |
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
| Gideon Chitayat | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Chairman | |||
| b)
| Initial notification /Amendment
| Initial Notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| BATM ADVANCED COMMUNICATIONS LTD | |||
| b)
| LEI
| 213800FLQUB9J289RU66 | |||
| 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 | Options over ordinary shares of 0.01 NIS each | |||
| | | ||||
| Identification code | IL0010849045 | ||||
| | | ||||
| b)
| Nature of the transaction
| Grant of options | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | 25.49 pence | 1,229,369 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | N/A | ||||
| | | ||||
| - Price | | ||||
| | | ||||
| e)
| Date of the transaction
| 1 January 2023
| |||
| f)
| Place of the transaction
| Outside a trading venue | |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name
| Moti Nagar | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Chief Executive Officer | |||
| b)
| Initial notification /Amendment
| Initial Notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| BATM ADVANCED COMMUNICATIONS LTD | |||
| b)
| LEI
| 213800FLQUB9J289RU66 | |||
| 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 | Options over ordinary shares of 0.01 NIS each | |||
| | | ||||
| Identification code | IL0010849045 | ||||
| | | ||||
| b)
| Nature of the transaction
| Grant of options | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | 25.49 pence | 16,433,937 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | N/A | ||||
| | | ||||
| - Price | | ||||
| | | ||||
| e)
| Date of the transaction
| 1 January 2023
| |||
| f)
| Place of the transaction
| Outside a trading venue | |||
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