1 July 2024
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Grant of Share Options
Tekcapital Plc (AIM: TEK) the UK intellectual property investment group focused on creating valuable products that can improve people's lives, announces the grant of 2,500,000 share options ("Share Options") over new ordinary shares of 0.4 pence each in the Company ("Ordinary Shares") to certain employees and independent non-executive directors.
The Share Options have an exercise price of 11.1p which is a 20% premium to the 9.25p closing price of the Company's shares on 28 June 2024. The Share Options vest in three equal annual instalments from the date of grant and cannot be exercised until 36 months from the date of grant. In addition, for Mr. Max Inglis, Mr. Konrad Dabrowski and Monica Rios are subject to performance criteria (the criteria requiring a growth in NAV of the Company at a minimum of 8% per annum) as agreed by the Remuneration Committee. If not exercised the Share Options will lapse 5 years after the date of grant.
| Executive | No. of options granted | Existing no. of options |
| Option Type | Total no. of options over Ordinary Shares | Total Options as a percentage of the Company's issued share capital |
| Dr. Robert Miller | 100,000 | 300,000 | | Non-EMI | 400,000 | 0.20% |
| Lord David Willetts | 100,000 | 200,000 | | Non-EMI | 300,000 | 0.15% |
| Mr. Louis Castro | 100,000 | - | | Non-EMI | 100,000 | 0.05% |
| Mr. Max Inglis | 100,000 | 1,900,000 | | Non-EMI | 2,000,000 | 1.01% |
| Mr. Konrad Dabrowski | 2,000,000 | 2,000,000 | | Non-EMI | 4,000,000 | 2.02% |
| Monica Rios | 100,000 | - | | Non-EMI | 100,000 | 0.05% |
A total of 2,500,000 of the awarded Share Options are as set out below:
Following the issue of the new Share Options, the total number of Ordinary Shares under option is 12,002,000 Ordinary Shares representing 6.06% of the Company's issued share capital.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them are set out below pursuant to the EU Market Abuse regulation.
| 1
| Details of the person discharging managerial responsibilities / person closely associated | ||||||||||||||||||||||
| a)
| Name | Dr. Robert Miller (Independent Non-Executive Director) Lord David Willetts (Independent Non-Executive Director) Mr. Louis Castro (Independent Non-Executive Director) Max Inglis (General Counsel) Konrad Dabrowski (CFO) Monica Rios | |||||||||||||||||||||
| 2
| Reason for the notification | ||||||||||||||||||||||
| a)
| Position/status
| See 1 a) above | |||||||||||||||||||||
| b)
| Initial notification / Amendment
| Initial notification | |||||||||||||||||||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||||||||||
| a)
| Name
| TEKCAPITAL PLC | |||||||||||||||||||||
| b)
| LEI
| 213800GOJTOV19FIFZ85 | |||||||||||||||||||||
| 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
| Options over Ordinary Shares of 0.4p each
ISIN: GB00BKXGY798
| |||||||||||||||||||||
| b)
| Nature of the transaction
| Grant of options over ordinary shares | |||||||||||||||||||||
| c)
| Price(s) and volume(s)
|
| |||||||||||||||||||||
| d)
| Aggregated information - Aggregated volume - Price
|
| |||||||||||||||||||||
| e)
| Date of the transaction
| 28 June 2024 | |||||||||||||||||||||
| f)
| Place of the transaction
| Outside a trading venue | |||||||||||||||||||||
About Tekcapital plc
Tekcapital creates value from investing in new, university-developed discoveries that can enhance people's lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
| Tekcapital Plc | | Via Flagstaff |
| Clifford M. Gross, Ph.D. | | |
| | | |
| SP Angel Corporate Finance LLP (Nominated Adviser and Broker) | | +44 (0) 20 3470 0470 |
| Richard Morrison / Charlie Bouverat (Corporate Finance) | | |
| Abigail Wayne / Rob Rees (Corporate Broking) | | |
| | | |
| Flagstaff Strategic and Investor Communications |
| +44 (0) 20 7129 1474 |
| Tim Thompson / Andrea Seymour / Fergus Mellon
| |
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