RNS Number : 2333U
Braveheart Investment Group plc
27 March 2023
 

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

 

a)

 

Name

 

 

Trevor Brown

Chief Executive Officer

Vivian Hallam

Executive Director

Susan Hagan

Non-Executive Director

Qu Li

Non-Executive Director

 

 

2

 

Reason for the notification

 

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

 

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

 

a)

 

Description of the financial instrument, type of instrument

 

Identification code

 

Ordinary shares of 2 pence each in Braveheart Investment Group plc

 


GB00B13XV322

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

 

Trevor Brown

1,250,000

Vivian Hallam

1,250,000

Susan Hagan

200,000

Qu Li

200,000

d)

 

Aggregated information

- Aggregated volume

- Price

- Principal amount

 

N/A

 

e)

 

Dates of the transaction

 

24 March 2023




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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