KRM22 plc
("KRM22", the "Group" or the "Company")
Grant of Options
Director / PDMR Shareholding
KRM22 plc, (AIM: KRM) the technology and software investment company that focuses on risk management for capital markets, announces the grant of a total of 925,000 options to subscribe for ordinary shares of 10p each (the "Options") as part of the Company's Employee Share Option Plan including 650,000 Options to certain Directors of the Company, being Garry Jones, (Non-Executive Chairman), Dan Carter (CEO) and Kim Suter (CFO).
Of the total of 925,000 Options granted, Dan Carter has been awarded 250,000 Options and Kim Suter has been awarded 200,000 Options on the same terms as all other employees. Garry Jones has been awarded 200,000 Options on different terms in accordance with the terms of his agreement entered into when he assumed the role as Non-Executive Chairman of the Company.
In the past twelve months, a total of 1,008,286 share options have lapsed due to share performance conditions associated with previously awarded share options not being achieved for employees who continue to be employed within the Group, together with share options automatically being forfeited when employees have ceased to be employed within the Group.
The Options awarded have an exercise price of 40 pence per share and will lapse, to the extent not exercised, on 21 August 2034. The Options awarded to employees, including Dan Carter and Kim Suter, vest at the end of a three year period from the date of grant being 21 August 2024, subject to continued employment, whilst the Options awarded to Garry Jones vest in two tranches of 50% on 7 March 2025 and 50% on 7 March 2026, this being the first and second anniversary respectively of his appointment as Non-Executive Chairman of the Company.
| | Current shareholding | Existing Options over Ordinary Shares | Award of Options over Ordinary Shares | Total Options over Ordinary Shares following the grant | Total Options as a % of the issued share capital |
| Garry Jones | 276,471 | 49,342 | 200,000 | 249,342 | 0.69% |
| Dan Carter | 6,757 | 182,997 | 250,000 | 432,997 | 1.39% |
| Kim Suter | 31,494 | 371,466 | 200,000 | 571,466 | 1.78% |
Following this announcement, there is a total of 4,464,237 Options over Ordinary Shares representing 12.44% of the current issued share capital of the Company.
Of the total 4,464,237 Options outstanding, 2,443,237 were awarded during COVID as part of a cost saving and salary sacrifice exercise.
The Company currently has 35,899,981 Ordinary Shares in issue.
For further information please contact:
| KRM22 plc Garry Jones, Chairman Dan Carter, CEO Kim Suter, CFO
| |
| Cavendish Capital Markets Limited (Nominated Adviser and Sole Broker) Carl Holmes / Rory Sale (Corporate Finance) Sunila de Silva (ECM)
| +44 (0)20 7220 0500
|
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
About KRM22 plc
KRM22 is a closed-ended investment company which listed on AIM on 30 April 2018. The Company has been established with the objective of creating value for its investors through the investment in, and subsequent growth and development of, target companies in the technology and software sector, with a focus on risk management in capital markets.
Through its investments and the Global Risk Platform, KRM22 helps capital market companies reduce the cost and complexity of risk management. The Global Risk Platform provides applications to help address firms' trading and corporate risk challenges and to manage their entire enterprise risk profile.
Capital markets companies' partner with KRM22 to optimise risk management systems and processes, improving profitability and expanding opportunities to increase portfolio returns by leveraging risk as alpha.
KRM22 plc is listed on AIM and the Group is headquartered in London, with offices in several of the world's major financial centres.
See more about KRM22 at KRM22.com
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Garry Jones | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Non-Executive Chairman | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | KRM22 Plc | ||||
| b) | LEI | 213800IBCSBLSLJ9OD78 | ||||
| 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 | Options over ordinary Shares of 10 pence each | ||||
| Identification code | GB00BFM6WC61 | |||||
| b) | Nature of the transaction | Issue of options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: · Aggregated volume · Price |
See 4c) above | ||||
| e) | Date of the transaction | 21 August 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Dan Carter | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Chief Executive Officer | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | KRM22 Plc | ||||
| b) | LEI | 213800IBCSBLSLJ9OD78 | ||||
| 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 | Options over ordinary Shares of 10 pence each | ||||
| Identification code | GB00BFM6WC61 | |||||
| b) | Nature of the transaction | Issue of options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: · Aggregated volume · Price |
See 4c) above | ||||
| e) | Date of the transaction | 21 August 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Kim Suter | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Chief Financial Officer | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | KRM22 Plc | ||||
| b) | LEI | 213800IBCSBLSLJ9OD78 | ||||
| 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 | Options over ordinary Shares of 10 pence each | ||||
| Identification code | GB00BFM6WC61 | |||||
| b) | Nature of the transaction | Issue of options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: · Aggregated volume · Price |
See 4c) above | ||||
| e) | Date of the transaction | 21 August 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
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