Haydale Graphene Industries PLC Grant of Share Options (5832X)
April 26 2023 - 9:06AM
UK Regulatory
TIDMHAYD
RNS Number : 5832X
Haydale Graphene Industries PLC
26 April 2023
For immediate release 26 April 2023
Haydale Graphene Industries plc
("Haydale", "the Company" or the "Group")
Grant of share options
Haydale (AIM: HAYD), the global advanced materials group,
announces that on 25 April 2023 the Company approved the
following:
1. under the 2020 EMI Scheme ("2020 EMI Scheme"), the grant of
options to staff of the Group, over an aggregate 1,750,000 ordinary
shares of 2p each in the capital of the Company ("Ordinary
Shares"); and
2. under the Haydale Technologies, Inc ("HTI") Stock
Appreciation Rights Plan 2020 ("2020 SAR"), the grant of stock
appreciation rights ("Stock Appreciation Rights") to an employee of
the Group's wholly owned US subsidiary, HTI, over an aggregate
1,000,000 Ordinary Shares.
(The 2020 EMI Scheme and the 2020 SAR , together the "Share
Schemes". The new Options or Stock Appreciation Rights granted
under the Share Schemes, together the "April 2023 Grants"). The
April 2023 Grants represents approximately 0.35 % of the Company's
issued ordinary share capital.
Background to the April 2023 Grants
The Company adopted the Share Schemes to enable it to retain and
incentivise staff and to reward them for the achievement of its
longer-term objectives. The Share Schemes have certain performance
criteria to ensure that value is created for shareholders before
any value is delivered to Directors and key staff. The April 2023
Grants will extend the options to those that have joined since the
previous grant of Options in November 2022.
Terms of the April 2023 Grants
All of the April 2023 Grants have an exercise price of 2.25 p
per Ordinary Share (being a 42 % premium to the closing mid-market
price of the Company's Ordinary Shares on 25 April 2023, (the day
of the approval of the April 2023 Grants) and can only be exercised
between the third and tenth anniversary of the awards. The
proportion of the awards made by the April 2023 Grants that are
capable of vesting is dependent on certain performance criteria,
directly linked to the performance of the Company's share price
over the period to 30 September 2026 as follows:
% of April 2023
Grants subject Performance Condition
to the Performance
Condition
For a period of 15 consecutive dealing days,
30% commencing after the date of the April 2023
Grants and ending on or before the 30 September
2024, the closing price of the Ordinary Shares
exceeds 4 p (four) per Ordinary Share.
-------------------------------------------------
For a period of 15 consecutive dealing days,
30% commencing after the date of the April 2023
Grants and ending on or before the 30 September
2025, the closing price of the Ordinary Shares
exceeds 6 p (six) per Ordinary Share.
-------------------------------------------------
For a period of 15 consecutive dealing days,
40% commencing after the date of the April 2023
Grants and ending on or before the 30 September
2026, the closing price of the Ordinary Shares
exceeds 8 p (eight) per Ordinary Share.
-------------------------------------------------
There are no other vesting criteria for the April 2023 Grants.
If the share price does not reach the target price by their
respective dates, that portion of the award will lapse.
The Company's Remuneration Committee retains the ability to
amend the performance conditions for the April 2023 Grants and for
future grants to ensure that such grants achieve the stated
purpose.
Following the April 2023 Grants, the Company's total number of
Options and SARs outstanding as at the date of this announcement is
101,775,000 representing approximately 12.95 % of the Company's
existing issued share capital and 9.90% on a fully diluted basis
including all outstanding warrants.
The number of Ordinary Shares currently in issue is 785,852,475
and it is this number that has been used to calculate the above
percentage shareholdings.
For further information:
Haydale Graphene Industries plc
David Banks, Non-Executive Chair Tel: +44 (0) 1269 842 946
www.haydale.com
finnCap (Nominated Adviser & Broker)
Julian Blunt/Edward Whiley, Corporate Tel: +44 (0) 20 7220 0500
Finance
Andrew Burdis, ECM
Notes to Editors
Haydale is a global technologies and materials group that
facilitates the integration of graphene and other nanomaterials
into the next generation of commercial technologies and industrial
materials. With expertise in graphene, silicon carbide and other
nanomaterials, Haydale is able to deliver improvements in
electrical, thermal and mechanical properties, as well as
toughness. Haydale has granted patents for its technologies in
Europe, USA, Australia, Japan and China and operates from six sites
in the UK, USA and the Far East.
For more information please visit: www.haydale.com
Twitter: @haydalegraphene
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