Falanx Group Limited Grant of Share Options (9200H)
March 16 2018 - 2:00AM
UK Regulatory
TIDMFLX
RNS Number : 9200H
Falanx Group Limited
16 March 2018
Falanx Group Limited
("Falanx" or "the Company")
Grant of Share Options
Falanx Group Ltd announces the grant of 15,000,000 share options
to the Directors and 9,150,000 share options to other management
and employees (together the "Share Options").
The Company considers it important to incentivise employees and
Directors through share incentive arrangements and to align them
with shareholders to create long term value.
Options under this plan are granted with a strike price of 5p
each, this is approximately 11% higher than the mid-market closing
price of 4.5p on 15 March 2018. The option scheme is structured so
that there are only returns for participants where the share price
has very significantly increased from the current levels.
Individual Director grants are set out below:
Individual Director Option Grants
Current Share New Grant Enlarged Share
Options Options
-------------- -------------- ---------- ---------------
Mike Read - 5,000,000 5,000,000
-------------- -------------- ---------- ---------------
Ian Selby - 5,000,000 5,000,000
-------------- -------------- ---------- ---------------
John Blamire 500,000 4,500,000 5,000,000
-------------- -------------- ---------- ---------------
Emma Shaw 750,000 500,000 1,250,000
-------------- -------------- ---------- ---------------
Vesting Criteria
These options vest in three tranches: the first tranche when the
share price reaches 7.5p (25%), the second tranche when the share
price reaches 10p (25%) and the third tranche when the share price
reaches 12.5p (50%). The Share Options only vest if the average
share price has reached the relevant threshold level for a period
of three months, save for the event of a change of control in the
Company, in which case they will vest in full. Based on the
mid-market closing price of 4.5p, there is no gain at all unless
the share price increases by 66% and full gains are not achieved
until a gain of 178% has been achieved.
A further option grant is planned soon for staff in the recently
acquired First Base business.
Executive Directors are issued share options under the EMI
Scheme and Non-Executive Directors and (any other ineligible
participants) under an unapproved scheme, which has the same rules
as the EMI Scheme but without the relevant tax concessions. The
Share Options have an exercise period of 10 years from grant under
the rules of the EMI Scheme.
The above grant of 24,150,000 options represents approximately
9% of the share capital following the admission of the shares
announced on 6 March 2018.
Falanx Group Limited www.falanx.com
Mike Read, Chairman and
CEO
John Blamire, COO
Ian Selby, CFO
--------------------------------- ----------------------
SPARK Advisory Partners
Limited
Nominated Adviser
Matt Davis / James Keeshan +44 (0) 203 368 3551
Turner Pope Investments
(TPI) Ltd
Broker
Andy Thacker
IFC Advisory Ltd +44 (0) 203 621 4120
Financial PR & IR
Graham Herring
Miles Nolan
Zach Cohen +44 (0) 203 934 6630
Falanx Group Limited, is a global intelligence and cyber defence
provider working with blue chip and government clients. The Group
listed on AIM in June 2013 under ticker FLX For more information:
http://www.falanx.com/
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation, provides further detail.
1 Details of the person discharging managerial
responsibilities / person closely associated
--- -------------------------------------------------------
a) Name 1. Mike Read
2. Ian Selby
3. John Blamire
4. Emma Shaw
--- ----------------- ------------------------------------
2 Reason for the notification
--- -------------------------------------------------------
a) Position/status Directors and PDMRs of the Company
--- ----------------- ------------------------------------
b) Initial Initial notification
notification
/Amendment
--- ----------------- ------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -------------------------------------------------------
a) Name Falanx Group Limited
--- ----------------- ------------------------------------
b) LEI 213800YO4F9CUQLALV19
--- ----------------- ------------------------------------
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 Options over Ordinary Shares
of the
financial
instrument, ISIN: VGG3338A1075
type of
instrument
Identification
code
--- ----------------- ------------------------------------
b) Nature Grant of nil-cost options
of the
transaction
--- ----------------- ------------------------------------
c) Price(s) Price: Volume
and volume(s) 5p
-------- ------------------
1. 5,000,000
-------- ------------------
2. 5,000,000
------------------
3. 4,500,000
------------------
4. 500,000
-------- ------------------
5.
--- ----------------- ------------------------------------
d) Aggregated - volume: 15,000,000
information - Price: 5p
--- ----------------- ------------------------------------
e) Date of 15 March 20018
the transaction
--- ----------------- ------------------------------------
f) Place Not on a trading venue
of the
transaction
--- ----------------- ------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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