Velocys PLC Director/PDMR Shareholding (8847W)
December 16 2019 - 1:00AM
UK Regulatory
TIDMVLS
RNS Number : 8847W
Velocys PLC
16 December 2019
News release
Velocys plc
("Velocys" or "the Company")
16 December 2019
Grant of Share Options to Directors
Velocys plc (VLS.L), the sustainable fuels technology company
announces that it has been notified on 13 December 2019 by Henrik
Wareborn, Chief Executive Officer and a director of the Company,
and Andrew Morris, Chief Financial Officer and a director of the
Company, that they were granted options ("Option Grants") on 13
December 2019 under the Velocys 2012 Share Option Scheme (as
amended) over the Company's Ordinary shares of GBP0.01 each
("Ordinary Shares"). The Option Grants, which have been made under
the Rules of the Velocys 2012 Share Option Scheme and follow
discussions with major shareholders, were as follows:
Name of Type of share option Number of Exercise Vesting/ Total number of
Director share options price Exercise share options
granted (See notes as % of present
below) issued share capital
Henrik Commencement Award 2,000,000 GBP0.10 Note 1 0.31%
Wareborn
Performance Award 2,000,000 GBP0.15 Note 2 0.31%
Annual Award 2019 6,250,000 GBP0.03 Note 3 0.97%
--------------------- --------------- --------- ------------ ----------------------
Andrew Commencement Award 2,000,000 GBP0.10 Note 1 0.31%
Morris
Performance Award 2,000,000 GBP0.15 Note 2 0.31%
Annual Award 2019 5,625,000 GBP0.03 Note 3 0.87%
--------------------- --------------- --------- ------------ ----------------------
Following these notifications:
(i) Henrik Wareborn is interested in 1,666,666 Ordinary Shares
and Options over 10,250,000 Ordinary Shares of the Company,
together representing 1.85% of the present issued share capital of
the Company.
(ii) Andrew Morris is interested in 433,333 Ordinary Shares and
Options over 9,625,000 Ordinary Shares of the Company, together
representing 1.56% of the present issued share capital of the
Company.
The Option Grants are in addition to one-off Special Awards of
share options over 16,700,000 Ordinary Shares (representing 2.59%
of the present issued share capital) to Velocys' other key staff to
compensate for an absence of share awards in recent years, and of
share options over 15,250,146 Ordinary Shares (representing 2.37%
of the present issued share capital) to Velocys' other key staff in
respect of share awards for the 2019 financial year.
The above options are subject to terms for Malus and Clawback
and may not in any event be exercised later than the day
immediately preceding the tenth anniversary of the date of
grant.
Note 1: Commencement awards vest as to two-thirds on the date of
grant and as to the balance on 4 December 2020.
Note 2: Performance Awards are only exercisable subject to the
weighted average share price of an Ordinary Share being equal to or
more than GBP0.15 measured during specified periods within the
performance period which expires on 31 December 2022.
Note 3: Annual awards vest as to:
(i) 50% on the third anniversary of the date of grant and
(ii) 50% on the third anniversary of the date of grant subject
to the weighted average share price of an Ordinary Share being
equal to or more than GBP0.045 during the month preceding the third
anniversary of the date of grant.
- Ends -
For further information, please contact:
Velocys
Henrik Wareborn, CEO
Andrew Morris, CFO +44 1865 800821
Numis Securities (Nomad and joint broker)
Stuart Skinner
Tom Ballard +44 20 7260 1000
Canaccord Genuity (Joint broker)
Henry Fitzgerald-O'Connor
James Asensio +44 20 7523 8000
Radnor Capital (Investor relations)
Joshua Cryer
Iain Daly +44 20 3897 1830
Field Consulting (PR) +44 20 7096
Robert Jeffery 7730
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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