TIDMBYOT
RNS Number : 8963J
Byotrol PLC
16 December 2022
Byotrol Plc
("Byotrol" or the "Company")
Grant of share incentive awards to Directors and senior
managers
1. Establishment and operation of the Company's new Long Term
Incentive Plan
Byotrol Plc (AIM: BYOT), the specialist infection prevention and
control company, announces that, on 15 December 2022, it granted
awards ("Awards") over 22,000,000 ordinary shares of 0.25 pence
each in the capital of the Company ("Ordinary Shares") to Board
Directors and senior leadership team pursuant to the terms of its
newly established Long Term Incentive Plan (the "LTIP"), details of
which are set out below:
Director Board Number Number Total Number Number Number
Position of Ordinary of Ordinary number of Options of Options of Ordinary
Shares Shares of Ordinary over over Shares
over which over which Shares Ordinary Ordinary Currently
"Performance "Retention over Shares Shares Held
Awards" Awards" which currently Held
granted granted Awards held by way
granted of
convertible
notes
David Exec
Traynor Chairman 2,000,000 2,000,000 4,000,000 5,360,000 1,538,461 9,935,297
----------- -------------- ------------- ------------- ------------ -------------- -------------
Vivan
Pinto CEO 2,000,000 2,000,000 4,000,000 4,000,000 3,076,923 300,000
----------- -------------- ------------- ------------- ------------ -------------- -------------
Christopher
Sedwell CFO 2,000,000 2,000,000 4,000,000 4,000,000 1,538,461 188,436
----------- -------------- ------------- ------------- ------------ -------------- -------------
Sean Gogarty NED - 2,000,000 2,000,000 4,000,000 3,076,923 -
----------- -------------- ------------- ------------- ------------ -------------- -------------
Trevor
Francis NED - 2,000,000 2,000,000 4,555,000 1,538,461 4,470,214
----------- -------------- ------------- ------------- ------------ -------------- -------------
Options outstanding over Ordinary Shares following this award,
including those detailed above, now total 37,179,650 which equates
to 8.2% of issued share capital, well within the guidelines set out
by the ABI and considered best practice.
The LTIP has been established in order to incentivise Executive
Directors and certain senior managers to deliver long term value
for shareholders, align their interests with the various
stakeholders and retain these key individuals within the business.
No consideration was paid for the grant of the Awards, which have
been structured as "nil cost" options. All option awards will lapse
if the employee leaves the business prior to vesting, save for
standard, very limited 'Good Leaver' provisions.
16,000,000 of the 22,000,000 options being issued are being
structured as Retention Awards, dependent solely on continued
employment at date of vesting. 8,000,000 options will vest
automatically at 18 months from grant and 8,000,000 at 36 months
from grant, with an exercise price of 2.15 pence
The 6,000,000 Performance Awards detailed in the above table for
Executive Directors only will normally vest on the third and fourth
anniversary of grant, dependent on exceeding certain performance
targets relating to Total Stock Return, Revenue or EBITDA. The
exercise price of these options will be 0.25 pence.
Once the Awards have vested, they will generally be available to
be exercised until the seventh anniversary of their original
grant.
Further information in relation to the LTIP will be included in
Byotrol's next annual report and financial statements.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014. Upon the publication
of this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
For further information contact:
Byotrol Plc
David Traynor, Executive Chairman +44 (0)1925 742 000
Vivan Pinto, Chief Executive
Chris Sedwell, Chief Financial Officer
finnCap Limited (Nominated Adviser and
Broker) +44 (0)20 7220 0500
Geoff Nash / George Dollemore - Corporate
Finance
Nigel Birks / Harriet Ward - ECM
Flagstaff Strategic and Investor Communications +44 (0)20 7129 1474
Tim Thompson/Andrea Seymour/Fergus Mellon byotrol@flagstaffcomms.com
Notes to editors
Byotrol plc (BYOT.L), quoted on AIM, is a specialist infection
prevention and control company, operating globally in the
Healthcare, Industrial, Food and Consumer sectors, providing low
toxicity products with a broad-based and targeted efficacy across
all microbial classes; bacteria, viruses (including coronavirus),
fungi, moulds, mycobacteria and algae.
Byotrol's products can be used stand-alone or as ingredients
within existing products, where they can significantly improve
their performance, especially in personal hygiene, domestic and
industrial disinfection, odour control, food production and food
management.
Byotrol develops and commercialises technologies that create
easier, safer and cleaner lives for everyone.
For more information, go to byotrol.com
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END
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