27 March 2023
Braveheart Investment Group plc
("Braveheart" or the "Company")
Grant of options
Braveheart Investment Group (AIM: BRH), announces that, on 24 March 2023, the Company granted options over a total of 2,950,000 ordinary shares of 2p each in the Company ("Ordinary Shares") to the Directors and a service provider to the Company (the "Options"). The Options have been granted pursuant to the Company's share option plan adopted on 16 December 2020.
In order to be eligible to receive new EMI options, Vivian Hallam, Executive Director, has, on 24 March 2023, surrendered 523,808 EMI options previously granted to him on 14 October 2021 and that had an exercise price of 31.5p.
In aggregate, 2,900,000 Options have been granted to Directors of the Company, as follows:
| Name | No. options over Ordinary Shares previously held | No. Options granted | No. options over Ordinary Shares surrendered | Resultant holding of options over Ordinary Shares held | Percentage of the current issued share capital of the Company |
| Trevor Brown | 1,500,000 | 1,250,000 | - | 2,750,000 | 4.3 |
| Vivian Hallam | 2,500,000 | 1,250,000 | 523,808 | 3,226,192 | 5.1 |
| Susan Hagan | 50,000 | 200,000 | - | 250,000 | 0.4 |
| Qu Li | 0 | 200,000 | - | 200,000 | 0.3 |
The Options granted to Vivian Hallam are EMI options and the Options granted to Trevor Brown, Susan Hagan and Qu Li are unapproved options. The exercise price of the Options is 7.75p, being the closing mid-market price of an Ordinary Share on 24 March 2023, the date of grant. The Options will vest from 27 March 2024 and be exercisable up to 27 March 2033, subject to continued employment. The Options granted to Trevor Brown and Vivian Hallam, as Executive Directors of the Company, have an additional performance related vesting criteria that the closing mid-market price of an Ordinary Share must exceed 9.6875p (being a 25% premium to the Option exercise price) for 10 business days out of a consecutive 30 business day period.
Following the grant of the Options and surrender of historic options held by Viv Hallam, the Company now has options outstanding over a total of 7,022,192 Ordinary Shares, equivalent to 11.0% of the Company's current issued share capital.
Further details of the Options can be found in the Notification of Dealing Form below.
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
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| a)
| Name
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| 2
| Reason for the notification
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| a)
| Position/status
| See 1a) above | ||||||||
| b)
| Initial notification /Amendment
| Initial Notification | ||||||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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| a)
| Name
| Braveheart Investment Group plc | ||||||||
| b)
| LEI
| 2138006HQ3COMU626I61 | ||||||||
| 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
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| a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary shares of 2 pence each in Braveheart Investment Group plc
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| b)
| Nature of the transactions
| Grant of options over ordinary shares | ||||||||
| c)
| Price(s) and volume(s)
| Price: Exercise price of 7.75p per option
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| d)
| Aggregated information - Aggregated volume - Price - Principal amount
| N/A
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| e)
| Dates of the transaction
| 24 March 2023 | ||||||||
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| f) | Place of transaction | Outside a trading venue | ||||||||
For further information:
| | |
| Braveheart Investment Group plc | Tel: 01738 587555 |
| Trevor Brown CEO | |
| | |
| Allenby Capital Limited (Nominated Adviser and Joint Broker) | Tel: 020 3328 5656 |
| David Worlidge / James Reeve / George Payne | |
| | |
| Peterhouse Capital Limited (Joint Broker) | Tel: 020 7469 0936 |
| Duncan Vasey / Lucy Williams | |
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