6 June 2024
Insig AI plc
("Insig AI" or the "Company")
Grant of Share Options
Insig AI plc (AIM: INSG), the data science and machine learning group, announces the grant of share options over 7,800,000 ordinary shares of 1 pence each in the Company ("Ordinary Shares") to certain Directors and employees with an expiry date of 5 June 2029 (the "Options").
The Options vest equally over a three-year period, on the first, second and third anniversary of the date of grant and are subject to certain vesting criteria, namely:
- Revenue exceeding £2.0m for a preceding 12 month rolling period (50% of the award); and
- Revenue exceeding £3.0m for a preceding 12 month rolling period (50% of the award)
Schedule of Options:
|
| Position | Date of grant | No. Options granted | Exercise price | Expiry date |
| Richard Bernstein | CEO | 6 June 2024 | 2,000,000 2,000,000 | 20p 30p | 5 June 2029 5 June 2029 |
| Steven Cracknell | Chief Product Officer | 6 June 2024 | 1,000,000 | 20p | 5 June 2029 |
| Warren Pearson | PDMR | 6 June 2024 | 1,000,000 | 20p | 5 June 2029 |
| Employees (various) | N/A | 6 June 2024 | 1,800,000 | 20p | 5 June 2029 |
Following the grant of the Options, the Company now has a total of 8,375,000 share options in issue, which represents 7.1% of the current issued share capital.
For further information, please visit www.insg.ai or contact:
Insig AI plc richard.bernstein@insg.ai
Richard Bernstein (CEO)
Zeus (Nominated Adviser & Broker)
David Foreman / James Hornigold +44 (0)20 3829 5000
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
| Richard Bernstein
| |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| CEO | |||
| b)
| Initial notification /Amendment
| Initial Notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Insig AI plc | |||
| b)
| LEI
| 21380098CKBAG1NWCD98 | |||
| 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 | Ordinary Shares of 1 pence each | |||
| | | ||||
| Identification code | GB00BYV31355 | ||||
| | | ||||
| b)
| Nature of the transaction
| Grant of options
| |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | 20 pence 30 pence | 2,000,000 2,000,000 | | |
| | | | | | |
| d)
| Aggregated information | N/A single transaction | |||
| | | ||||
| - Aggregated volume | | ||||
| | | ||||
| - Price | | ||||
| | | ||||
| e)
| Date of the transaction
| 6 June 2024 | |||
| f)
| Place of the transaction
| London Stock Exchange | |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name
| Steven Cracknell | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Chief Product Officer | |||
| b)
| Initial notification /Amendment
| Initial Notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Insig AI plc | |||
| b)
| LEI
| 21380098CKBAG1NWCD98 | |||
| 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 | Ordinary Shares of 1 pence each | |||
| | | ||||
| Identification code | GB00BYV31355 | ||||
| | | ||||
| b)
| Nature of the transaction
| Grant of options
| |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | 20 pence | 1,000,000
| | |
| | | | | | |
| d)
| Aggregated information | N/A single transaction | |||
| | | ||||
| - Aggregated volume | | ||||
| | | ||||
| - Price | | ||||
| | | ||||
| e)
| Date of the transaction
| 6 June 2024 | |||
| f)
| Place of the transaction
| London Stock Exchange | |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name
| Warren Pearson | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| PDMR | |||
| b)
| Initial notification /Amendment
| Initial Notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Insig AI plc | |||
| b)
| LEI
| 21380098CKBAG1NWCD98 | |||
| 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 | Ordinary Shares of 1 pence each | |||
| | | ||||
| Identification code | GB00BYV31355 | ||||
| | | ||||
| b)
| Nature of the transaction
| Grant of options
| |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | 20 pence | 1,000,000
| | |
| | | | | | |
| d)
| Aggregated information | N/A single transaction | |||
| | | ||||
| - Aggregated volume | | ||||
| | | ||||
| - Price | | ||||
| | | ||||
| e)
| Date of the transaction
| 6 June 2024 | |||
| f)
| Place of the transaction
| London Stock Exchange | |||
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