REG - Ocean Harvest Tech. - Grant of Options

Ocean Harvest TechnologyAnnouncement

17/04/2024 07:00

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RNS Number : 8768K  Ocean Harvest Technology Group PLC  17 April 2024

17 April 2024

 

Ocean Harvest Technology Group plc

 

("OHT", the "Company", or the "Group")

 

Grant of Options

 

 

Ocean Harvest Technology Group Plc (AIM: OHT), a leading researcher, developer
and supplier of proprietary blended seaweed products as functional additives
for the global animal feed industry, announces the grant of options to two of
its executives under the Company's Share Option Plan.

 

Chris Scott (Chief Financial Officer) and Nico Stein (Chief Commercial
Officer) have each been granted 1,385,857 options (the "Options").  This
corresponds to the amount of options which have either been forfeited since
the IPO or are due to be forfeited in 2024 by employees leaving OHT. There is
hence no dilution from the grant of these new options over and above the
dilution potential that was present from employee options at the time of the
Company's IPO.

 

The Options have a term of 10 years and are exercisable in four tranches at a
price of £0.01 each, with each tranche vesting once the share price target
for that tranche has been met and a minimum 2 years' service has been
completed.

 

All options are subject to a 12-month holding period from the date of vesting
and may not be exercised whilst the Company's share price is below £0.192 and
are also subject to both malus and clawback provisions and good and bad leaver
provisions. All unvested Options will vest in certain corporate events such as
a takeover of the company or a change of control. In these circumstances the
Options would normally vest and become exercisable in full unless the Board
decides that the Options will be pro-rated to take account of the date the
corporate event took place during the normal vesting period. Full details of
the Share Option Plan are set out in the Company's Admission Document.

 

 

 

For more information please contact:

 Ocean Harvest Technology Group plc                                     Tel: +44 (0) 1737 735018

 Mark Williams, CEO / Chris Scott, CFO

 Cavendish Capital Markets Limited (Nominated Adviser and Sole Broker)  Tel: +44 020 7220 0500
 Geoff Nash / Seamus Fricker / George Dollemore (Corporate Finance)

 Tim Redfern / Harriet Ward (ECM)

 

Notes to Editors

 

Ocean Harvest Technology Group plc is a global leader in the development and
commercialisation of value adding proprietary products from blending multiple
species of seaweed. The Company provides a range of natural additives focused
on improving animal performance and the sustainability of the feed chain,
through its unique and proven proprietary seaweed blends. The Company sources
its seaweed globally, utilising sustainable and socially responsible
harvesting of largely wild blooming seaweed species.  Its products are
produced in its facility in Vietnam and sold into the $40bn animal feed
additive sector in multiple markets across the world.

 

For more information, please visit www.oceanharvesttechnology.com
(about:blank) .

 1.                        Details of the person discharging managerial responsibilities / person closely
                           associated
 a)                        Name                                                         Christopher Scott
 2.                        Reason for the Notification
 a)                        Position/status                                              Chief Financial Officer
 b)                        Initial notification/Amendment                               Initial Notification
 3.                        Details of the issuer, emission allowance market participant, auction
                           platform, auctioneer or auction monitor
 a)                        Name                                                         Ocean Harvest Technology Group plc
 b)                        LEI                                                          213800XTESSAZATP8Q19
 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  Ordinary Shares of 1 pence each
                           Identification code                                          GB00BQKR6R17
 b)                        Nature of the transaction                                    Grant of options
 c)                        Price(s) and volume(s)                                                         Price(s)  Volume(s)
                                                                                        Grant of options  Nil       1,385,857

 
 d)                        Aggregated information:

                           · Aggregated volume                                          N/A

                           · Price
 e)                        Date of the transaction                                      17 April 2024
 f)                        Place of the transaction                                     Outside a trading venue

 

d)

Aggregated information:

· Aggregated volume

· Price

 

N/A

e)

Date of the transaction

17 April 2024

f)

Place of the transaction

Outside a trading venue

 

 1.                        Details of the person discharging managerial responsibilities / person closely
                           associated
 a)                        Name                                                         Nico Stein
 2.                        Reason for the Notification
 a)                        Position/status                                              Chief Commercial Officer
 b)                        Initial notification/Amendment                               Initial Notification
 3.                        Details of the issuer, emission allowance market participant, auction
                           platform, auctioneer or auction monitor
 a)                        Name                                                         Ocean Harvest Technology Group plc
 b)                        LEI                                                          213800XTESSAZATP8Q19
 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  Ordinary Shares of 1 pence each
                           Identification code                                          GB00BQKR6R17
 b)                        Nature of the transaction                                    Grant of options
 c)                        Price(s) and volume(s)                                                         Price(s)  Volume(s)
                                                                                        Grant of options  Nil       1,385,857

 
 d)                        Aggregated information:

                           · Aggregated volume                                          N/A

                           · Price
 e)                        Date of the transaction                                      17 April 2024
 f)                        Place of the transaction                                     Outside a trading venue

 

d)

Aggregated information:

· Aggregated volume

· Price

 

N/A

e)

Date of the transaction

17 April 2024

f)

Place of the transaction

Outside a trading venue

 

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