22 May 2023
Osirium Technologies plc
("Osirium" or the "Group")
Grant of options and PDMR dealings
Osirium Technologies plc (AIM: OSI), a leading vendor of cloud-based cybersecurity and IT automation software, announces that, further to the announcements issued by the Company on 03 April 2023 and 18 April 2023 (the "Announcements"), the Company has completed the variation to the terms of the Company's Enterprise Management Incentive (EMI) Share Option Plan 2020-2025 (the "Plan") as approved by shareholders at the Company's recent annual general meeting.
As contemplated in the Announcements, all historic options granted pursuant to the Plan and the Company's previous share option schemes have now been surrendered by the respective option holders. In total, 2,508,050 options were surrendered.
The Company has on 19 May 2023 granted the 9,803,894 new options (the "New Options") over ordinary shares of 1p each in the Company ("Ordinary Shares") pursuant to the amended Plan to a number of employees and Directors.
The number of New Options that have been granted to and surrendered by Directors of the Company and their closely associated persons (as defined in UK MAR) are as follows:
| Director/PCA | No. of options surrendered | No. of New Options granted | Percentage of issued share capital |
| Stuart McGregor (CEO) | 218,500 | 3,676,460 | 3.00% |
| Rupert Hutton (CFO) | 147,250 | 1,225,487 | 1.00% |
| David Guyatt (Chairman) | 1,061,416 | - | - |
| Simon Lee (NED) | 146,125 | - | - |
| Simon Hember (NED) | 26,125 | - | - |
| Catherine Jamieson (wife of David Guyatt) | 180,000
| 612,743 | 0.50% |
The New Options have an exercise price of 2p per option (being the issue price of the Company's most recent fundraise). All New Options are subject to the following additional performance based vesting criteria:
· the closing share price of an Ordinary Share must exceed 4p for a rolling 30-day period; and
· the Company must have achieved annualised recurring revenue of at least £3.5 million, when reported in the Company's full year or half year results.
The New Options will vest equally over three years as set out in the Announcement. Following the surrender of historic options and grant of the New Options, the Company currently has options outstanding over 9,803,894 Ordinary Shares, representing 8% of the Company's total issued share capital.
| Contacts: | |
| | |
| Osirium Technologies plc | Tel: +44 (0)1183 242 444 |
| Stuart McGregor, Chief Executive Officer | |
| Rupert Hutton, Chief Financial Officer | |
| | |
| Allenby Capital Limited (Nominated adviser and broker) | Tel: +44 (0)20 3328 5656 |
| James Reeve / George Payne (Corporate Finance) | |
| Tony Quirke / Stefano Aquilino (Sales and Corporate Broking) | |
| | |
| Alma PR (Financial PR adviser) | Tel: +44 (0)20 3405 0205 |
| Hilary Buchanan | |
| Kieran Breheny | |
| Will Ellis Hancock | |
About Osirium Technologies Plc
Osirium Technologies plc (AIM: OSI) is a leading UK-based cybersecurity software vendor delivering Privileged Access Management (PAM), Privileged Endpoint Management (PEM) and Osirium Automation solutions that are uniquely simple to deploy and maintain.
With privileged credentials involved in over 80% of security breaches, customers rely on Osirium PAM's innovative technology to secure their critical infrastructure by controlling 3rd party access, protecting against insider threats, and demonstrating rigorous compliance. Osirium Automation delivers time and cost savings by automating complex, multi-system processes securely, allowing them to be delegated to Help Desk engineers or end-users and to free up specialist IT resources. The Osirium PEM solution balances security and productivity by removing risky local administrator rights from users, while at the same time allowing escalated privileges for specific applications.
Founded in 2008 and with its headquarters in Reading, UK, the Group was admitted to trading on AIM in April 2016. For further information please visit www.osirium.com.
| 1 | Details of the person discharging managerial responsibilities / person closely associated (PCA) | |||||||
| a) | Name |
PDMRs:
PCAs:
| ||||||
| 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 | Osirium Technologies plc | ||||||
| b) | LEI | 213800CTPGYQ4POIC338 | ||||||
| 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 nominal value 1 pence each
| ||||||
| b) | Nature of the transaction | Grant of share options | ||||||
| c) | Price(s) and volume(s) | Exercise price: as described above
Volumes:
| ||||||
| d) | Aggregated information - Aggregated volume - Price | N/A
| ||||||
| e) | Date of the transaction | 19 May 2023 | ||||||
| f) | Place of the transaction | Outside a trading venue | ||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated (PCA) | |||||||||||||
| a) | Name |
PDMRs:
PCAs:
| ||||||||||||
| 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 | Osirium Technologies plc | ||||||||||||
| b) | LEI | 213800CTPGYQ4POIC338 | ||||||||||||
| 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 nominal value 1 pence each
| ||||||||||||
| b) | Nature of the transaction | Surrender of share options
| ||||||||||||
| c) | Price(s) and volume(s) | Price: n/a
Volumes:
| ||||||||||||
| d) | Aggregated information - Aggregated volume - Price | N/A
| ||||||||||||
| e) | Date of the transaction | 19 May 2023 | ||||||||||||
| f) | Place of the transaction | Outside a trading venue | ||||||||||||
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