IQ-AI Limited
("IQ-AI" or the
"Company")
Grant of Options
IQAI Limited (the "Company" or "IQAI"),
announces that, the Company has granted options over a total of
18,905,474 ordinary shares of £0.01 each in the Company ("Ordinary
Shares") to the Directors and employees to the Company (the
"Options"). All Options are exercisable for 10 years from the date
of grant.
In aggregate, 18,130,474 Options have been
granted to Directors of the Company, as follows:
|
|
New
options
|
Percentage of
the current issued share capital of the Company
|
|
Trevor Brown
|
3,000,000
|
1.35
|
|
Mike Schmainda
|
8,630,474
|
3.89
|
|
Vinod Kaushal
|
6,000,000
|
2.71
|
|
Brett Skelly
|
500,000
|
0.23
|
The options granted to employees will vest
annually in four equal tranches with the first quarter vesting upon
grant. Half of Mr Kaushal's options will vest immediately,
1,500,000 options will vest after one year, and the balance will
vest after two years. Mr Brown, Mr Schmainda and Mr Skelly's
options will vest immediately.
Following the grant of the Options and historic
options held by employees, the Company now has options outstanding
over a total of 19,680,474 Ordinary Shares, equivalent to 8.88% of
the Company's current issued share capital.
Further details of the Options can be found in
the Notification of Dealing Form below.
Notification
and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with
them
|
1
|
Details of the
person discharging managerial responsibilities / person closely
associated
|
|
a)
|
Name
|
|
Trevor Brown
|
Chief Executive Officer
|
|
Mike Schmainda
|
Executive Director
|
|
Vinod Kaushal
|
Non-Executive Director
|
|
Brett Skelly
|
Non-Executive Director
|
|
|
2
|
Reason for the
notification
|
|
a)
|
Position/status
|
See 1a) above
|
|
b)
|
Initial notification /Amendment
|
Initial Notification
|
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
a)
|
Name
|
IQ-AI Limited
|
|
b)
|
LEI
|
213800SPW48XRJS2QH57
|
|
4
|
Details of the
transaction(s): section to be repeated 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 financial instrument, type
of instrument
Identification code
|
Ordinary shares of £0.01 pence each
in IQ-AI Limited
JE00BD4H0R42
|
|
b)
|
Nature of the transactions
|
Grant of options over ordinary
shares
|
|
c)
|
Price(s) and volume(s)
|
Price: Exercise price of £0.019 per
option
|
Trevor Brown
|
3,000,000
|
|
Mike Schmainda
|
8,630,474
|
|
Vinod Kaushal
|
6,000,000
|
|
Brett Skelly
|
500,000
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
- Principal amount
|
N/A
|
|
e)
|
Dates of the transaction
|
5 March 2024
|
|
|
|
|
|
f)
|
Place of transaction
|
Outside a trading venue
|
The Directors of the Company accept
responsibility for the contents of this announcement.
**ENDS**
For further information please
contact:
IQ-AI Limited
Trevor Brown/Brett Skelly/Vinod
Kaushal
Tel: 020 7469 0930
Peterhouse Capital Limited (Financial Adviser
and Broker)
Lucy Williams/Heena Karani
Tel: 020 7220
9797