Remote Monitored Systems PLC Share Option Grant update (5346M)
January 22 2021 - 1:00AM
UK Regulatory
TIDMRMS
RNS Number : 5346M
Remote Monitored Systems PLC
22 January 2021
22 January 2021
Remote Monitored Systems plc ("RMS" or the "Company")
Share Option Grant update
On 10 November 2020, the Company announced that it had granted a
total of 77,603,512 options ("Options") over ordinary shares of
0.01 pence each in the Company ("Ordinary Shares") under its
existing share incentive scheme (the "Option Grant"). 38,801,756
Options were granted to each of Trevor Brown and Paul Ryan,
Executive Director and Non-Executive Chairman of the Company at the
time respectively. This Option Grant represented options over
approximately 5 per cent. of the Company's total issued share
capital at that time.
The Options have an exercise price of 1.40p per share (being the
closing mid-market share price on 9 November 2020, the day
immediately prior to the award), vested immediately, and are
exercisable for a period of 5 years from the date of grant.
Notwithstanding that the grant of the Options was in accordance
with the Company's existing share incentive scheme as set out in
the Company's AIM Admission Document, the grant of the Options is
now considered to be a related party transaction in accordance with
Rule 13 of the AIM Rules for Companies. Accordingly John
Richardson, the Director independent of the Option Grant at the
time of the award, having consulted with the Company's nominated
adviser, SP Angel Corporate Finance LLP, considers that the terms
of the Option Grant were fair and reasonable insofar as the
Company's shareholders are concerned.
- ENDS -
ENQUIRIES :
Remote Monitored Systems plc
John Richardson (Executive Director) +44 7751 118916
SP Angel Corporate Finance LLP +44 20 3470 0470
Nominated Adviser and Joint Broker
Stuart Gledhill
Caroline Rowe
Peterhouse Capital Limited +44 20 7469 0930
Joint Broker
Lucy Williams
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