REG - Braveheart Inv Group - Cancellation and grant of options
09/05/2022 13:15
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RNS Number : 8123K Braveheart Investment Group plc 09 May 2022
09 May 2022
Braveheart Investment Group plc
("Braveheart" or the "Company")
Cancellation and grant of options
Braveheart Investment Group (AIM: BRH), announces the cancellation of options
over ordinary shares of 2p each in the Company ("Ordinary Shares") issued to
two Directors of the Company and the concurrent granting of new options over
Ordinary Shares to the same Directors.
Background
At the annual general meeting of the Company held on 8 September 2020,
shareholders approved the implementation of a share option scheme in order to
provide a long-term incentive plan for Directors, employees and consultants of
the Company, including those Strategic Investments where Braveheart owns 50%
or more of the issued share capital ("the Share Option Plan").
On 14 October 2021, options were granted over 1,500,000 and 2,000,000 Ordinary
Shares to Trevor Brown (CEO) and Vivian Hallam (Executive Director)
respectively, at an exercise price of 31.5p per share, being the closing
mid-market price of an Ordinary Share on 13 October 2021 (the "Historic
Options").
[The remuneration committee of the Company ("Remuneration Committee") has
determined that, in order to continue to incentivise Trevor Brown and Vivian
Hallam without creating further potential dilution for shareholders of the
Company, it is appropriate to cancel certain of the Historic Options and issue
the same number of new options to the Directors, exercisable at the current
share price, as detailed below.]
Cancellation of certain Historic Options
The Company has today 9 May 2022 cancelled the following Historic Options:
Name Number of Historic Options Cancelled Remaining number of Historic Options held
Trevor Brown 750,000 750,000
Vivian Hallam 1,000,000 1,000,000
The performance and time related vesting criteria on the remaining Historic
Options remain as announced on 14 October 2021.
Grant of new options
The Company has [today/on 6 May 2022] granted new options over 1,750,000
Ordinary Shares (the "New Options") as follows:
Name Number of New Options granted Exercise price
Trevor Brown 750,000 14p
Vivian Hallam 1,000,000 14p
The exercise price of the New Options is 14p, being the closing mid-market
price of an Ordinary Share on 6 May 2022, the date of grant. The New Options
will vest from 6 May 2023 and be exercisable up to 6 May 2032, subject to
continued employment and an additional performance related criteria that the
closing price of an Ordinary Share must exceed 31.5p, being the exercise price
of the Historic Options, for 10 days within any period of 30 days.
Following the cancellation of the Historic Options and grant of the New
Options, the Company now has options outstanding over a total of 4,596,000
Ordinary Shares.
Details of the transactions can be found in the Notification of Dealing Forms
below.
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name
Trevor Brown Chief Executive Officer
Vivian Hallam 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 Braveheart Investment Group plc
b) LEI 2138006HQ3COMU626I61
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 2 pence each in Braveheart Investment Group plc
Identification code GB00B13XV322
b) Nature of the transactions Cancellation of options over ordinary shares
c) Price(s) and volume(s) Price: Exercise price of 31.5p per share
Trevor Brown 750,000
Vivian Hallam 1,000,000
d) Aggregated information N/A
- Aggregated volume
- Price
- Principal amount
e) Dates of the transaction 6 May 2022
f) Place of transaction Outside a trading venue
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
Braveheart Investment Group plc
b)
LEI
2138006HQ3COMU626I61
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 2 pence each in Braveheart Investment Group plc
GB00B13XV322
b)
Nature of the transactions
Cancellation of options over ordinary shares
c)
Price(s) and volume(s)
Price: Exercise price of 31.5p per share
Trevor Brown 750,000
Vivian Hallam 1,000,000
d)
Aggregated information
- Aggregated volume
- Price
- Principal amount
N/A
e)
Dates of the transaction
6 May 2022
f)
Place of transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name
Trevor Brown Chief Executive Officer
Vivian Hallam 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 Braveheart Investment Group plc
b) LEI 2138006HQ3COMU626I61
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 2 pence each in Braveheart Investment Group plc
Identification code GB00B13XV322
b) Nature of the transactions Grant of options over ordinary shares
c) Price(s) and volume(s) Price:
Exercise price of 14p per share
Trevor Brown 750,000
Vivian Hallam 1,000,000
d) Aggregated information
- Aggregated volume N/A
- Price
- Principal amount
e) Date of the transaction 6 May 2022
f) Place of transaction Outside a trading venue
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
Braveheart Investment Group plc
b)
LEI
2138006HQ3COMU626I61
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 2 pence each in Braveheart Investment Group plc
GB00B13XV322
b)
Nature of the transactions
Grant of options over ordinary shares
c)
Price(s) and volume(s)
Price:
Exercise price of 14p per share
Trevor Brown 750,000
Vivian Hallam 1,000,000
d)
Aggregated information
- Aggregated volume
- Price
- Principal amount
N/A
e)
Date of the transaction
6 May 2022
f)
Place of transaction
Outside a trading venue
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
Braveheart Investment Group plc
b)
LEI
2138006HQ3COMU626I61
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 2 pence each in Braveheart Investment Group plc
GB00B13XV322
b)
Nature of the transactions
Cancellation of options over ordinary shares
c)
Price(s) and volume(s)
Price: Exercise price of 31.5p per share
Trevor Brown 750,000
Vivian Hallam 1,000,000
d)
Aggregated information
- Aggregated volume
- Price
- Principal amount
N/A
e)
Dates of the transaction
6 May 2022
f)
Place of transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name
Trevor Brown Chief Executive Officer
Vivian Hallam 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 Braveheart Investment Group plc
b) LEI 2138006HQ3COMU626I61
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 2 pence each in Braveheart Investment Group plc
Identification code GB00B13XV322
b) Nature of the transactions Grant of options over ordinary shares
c) Price(s) and volume(s) Price:
Exercise price of 14p per share
Trevor Brown 750,000
Vivian Hallam 1,000,000
d) Aggregated information
- Aggregated volume N/A
- Price
- Principal amount
e) Date of the transaction 6 May 2022
f) Place of transaction Outside a trading venue
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
Braveheart Investment Group plc
b)
LEI
2138006HQ3COMU626I61
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 2 pence each in Braveheart Investment Group plc
GB00B13XV322
b)
Nature of the transactions
Grant of options over ordinary shares
c)
Price(s) and volume(s)
Price:
Exercise price of 14p per share
Trevor Brown 750,000
Vivian Hallam 1,000,000
d)
Aggregated information
- Aggregated volume
- Price
- Principal amount
N/A
e)
Date of the transaction
6 May 2022
f)
Place of transaction
Outside a trading venue
For further information:
Braveheart Investment Group plc Tel: 01738 587555
Trevor Brown, Chief Executive Officer
Allenby Capital Limited (Nominated Adviser and Joint Broker) Tel: 020 3328 5656
David Worlidge / James Reeve / George Payne
Peterhouse Capital Limited (Joint Broker) Tel: 020 7469 0936
Heena Karani / Lucy Williams
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