EMV Capital Announces Grant of Share Options to Directors
LONDON - EMV Capital plc (AIM:EMVC), a venture capital investment group specializing in deeptech and life sciences, has announced the grant of 345,000 new options for ordinary shares to its directors and a person discharging managerial responsibilities (PDMR). This initiative is designed to enhance the company's remuneration policy and align interests through the EMV Capital Share Option Scheme.
Details of the Share Option Grant
The scheme has now granted options over a total of 2,417,732 ordinary shares, which represents approximately 8.71% of the company's issued share capital. Importantly, this remains well below the 10% dilution limit established by the scheme's guidelines. The exercise price for the new options is set at 50 pence per share, matching the issue price of the company's recent share issuance. This price also exceeds the average closing market quotations for the five trading days preceding the grant.
Vesting Schedule for Options
The newly granted options will vest in thirds: one-third on the date of grant, a further third on the first anniversary, and the final third on the second anniversary of the grant. It's noteworthy that the options cannot be exercised before the third anniversary of the grant date. They will lapse ten years after the grant date unless exercised sooner.
Recipients of the Options
The recipients of these new options include Dr. Ilian Iliev, CEO, and Ed Hooper, Executive Director, each receiving 120,000 options, which raises their total holdings to 685,656 options. Additionally, Dr. Charles Spicer, Chair, and Dr. Jonathan Robinson, Senior Independent Director, have been awarded 30,000 options each. Nick Salisbury, another PDMR, has been granted 45,000 options, bringing his total holdings to a substantial level.
Company Compliance and Announcement Significance
This announcement is compliant with the relevant regulations and regulations in the financial market, indicating that this information is now considered public. The timing of this disclosure ensures transparency regarding management’s incentives and aligns with EMV Capital's commitment to governance best practices.
Frequently Asked Questions
What is the purpose of these share options?
The share options aim to align the interests of the management team with those of shareholders, incentivizing performance and company growth.
What is the exercise price set for the new options?
The exercise price for each of the new options is set at 50 pence per share.
When will the options vest?
The options will vest in three phases: one-third on the grant date, one-third on the first anniversary, and the final third on the second anniversary.
Who are the main recipients of these options?
Main recipients include Dr. Ilian Iliev and Ed Hooper, each receiving 120,000 options, among others.
How does this announcement affect shareholders?
This announcement reflects proactive governance and management engagement, potentially enhancing shareholder value over time.
