finnCap Group PLC Option Grant (9833J)
22 Agosto 2023 - 9:00AM
UK Regulatory
TIDMFCAP
RNS Number : 9833J
finnCap Group PLC
22 August 2023
22 August 2023
finnCap Group plc
("finnCap", "the Company" or the "Group")
Option Grant
finnCap today announces completion of the grant of options under
the finnCap Group plc Company Share Option Plan (the "Plan") to
John Farrugia, CEO.
Due to various corporate transactions and closed periods, it has
not previously been possible for the Company to complete the issue
of these incentive awards to Mr Farrugia as intended upon his
appointment as CEO on 1 September 2022 and as described in the
Group's Remuneration Committee report included in the Company's
Annual Report and Accounts for the year-ended 31 March 2022.
The grant comprises a retention option over 2,000,000 shares
with an exercise price of 1p per share, and an incentive option
over 5,000,000 shares with an exercise price of 15p per share
(together the "Options"). Due to various corporate transactions and
closed periods since his appointment as CEO it has not been
possible to formalise the grant until now. In the ordinary course,
the Options will vest and become exercisable on 25 July 2025,
subject to continuing employment. For the avoidance of doubt,
vesting will not accelerate on completion of the recommended
all-share merger between finnCap and Cenkos Securities plc.
The Options are also subject to malus and clawback for a period
of two years following vesting. The Options will lapse, to the
extent not exercised, on the day immediately preceding the tenth
anniversary of the date of grant.
Following these awards, John Farrugia continues to have a
beneficial interest over 1,927,669 Ordinary Shares (as set out in
the Company's Opening Position Disclosure dated 4 April 2023 under
Rule 8 of the Takeover Code), representing approximately 1.06% of
the current total voting rights of the Company, and has options
over Ordinary Shares in the Company as set out below:
Name of Scheme Number of Grant Date Vesting Normal lapse Exercise
or Plan ordinary date date price
shares under (per
options/awards share)
finnCap Group 305,045 05/12/2018 05/12/2020 05/12/2023 GBP0.28
plc Company
Share Option
Plan
---------------- ----------- -------------- ------------- ---------
152,523 05/12/2018 05/12/2021 05/12/2023 GBP0.28
---------------- ----------- -------------- ------------- ---------
152,522 05/12/2018 05/12/2022 05/12/2023 GBP0.28
---------------- ----------- -------------- ------------- ---------
425,000 01/04/2020 09/07/2024 09/07/2027 GBP0.175
---------------- ----------- -------------- ------------- ---------
666,667 18/08/2020 01/04/2022 01/04/2025 GBP0.01
---------------- ----------- -------------- ------------- ---------
666,667 18/08/2020 01/04/2023 01/04/2026 GBP0.01
---------------- ----------- -------------- ------------- ---------
2,000,000 22/08/2023 25/07/2025 22/08/2033 GBP0.01
---------------- ----------- -------------- ------------- ---------
5,000,000 22/08/2023 25/07/2025 22/08/2033 GBP0.15
---------------- ----------- -------------- ------------- ---------
finnCap Group 775,000 01/04/2020 09/07/2024(1) 09/07/2027 GBP0.175
plc Enterprise
Management
Share Option
Plan
---------------- ----------- -------------- ------------- ---------
(1) Subject to the satisfaction of performance conditions
The Company's Ordinary Shares referred to above are finnCap
Group plc ordinary shares of 1 penny each and the total number of
shares in issue is 181,094,844.
Further details on this are included in the notification below,
made in accordance with the requirements of the UK Market Abuse
Regulation.
Contacts
finnCap Group plc Tel: +44 (0) 20 7220 0500
Robert Lister, Chairman investor.relations@finncap.com
Richard Snow, Chief Financial Officer
Grant Thornton (Nominated Adviser) Tel: +44 (0) 20 7383 5100
Philip Secrett/Samantha Harrison/Samuel Littler
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name John Farrugia
---------------------------------- ------------------------------------------------
Reason for the notification
2
------------------------------------------------------------------------------------
a) Position/status CEO
---------------------------------- ------------------------------------------------
b) Initial notification Initial
/Amendment
---------------------------------- ------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name finnCap Group plc
---------------------------------- ------------------------------------------------
b) LEI 213800DLRUJW6JVNS533
---------------------------------- ------------------------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
------------------------------------------------------------------------------------
a) Description of the Ordinary shares
financial instrument,
type of instrument
Identification code GB00BGKPX309
b) Nature of the transaction (1) Grant of options over ordinary
shares under the finnCap Group plc
Company Share Option Plan at an exercise
price of 1p per share
(2) Grant of options over ordinary
shares under the finnCap Group plc
Company Share Option plan at an exercise
price of 15p per share
---------------------------------- ------------------------------------------------
c) Price(s) and volume(s)
--------------------- ----------------------
Price(s) Volume(s)
--------------------- ----------------------
(1) GBP0.01 (1) 2,000,000
------------------------------------------------------------- ----------------------
(2) GBP0.15 (2) 5,000,000
------------------------------------------------------------- ----------------------
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 22 August 2023
---------------------------------- ------------------------------------------------
f) Place of the transaction Outside a trading venue
---------------------------------- ------------------------------------------------
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END
DSHEAKPFAASDEFA
(END) Dow Jones Newswires
August 22, 2023 03:00 ET (07:00 GMT)
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