REG - Braveheart Inv Group - Grant of options

Braveheart InvestmentAnnouncement

27/03/2023 07:00

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RNS Number : 2333U  Braveheart Investment Group plc  27 March 2023

27 March 2023

Braveheart Investment Group plc

("Braveheart" or the "Company")

 

Grant of options

 

Braveheart Investment Group (AIM: BRH), announces that, on 24 March 2023, the
Company granted options over a total of 2,950,000 ordinary shares of 2p each
in the Company ("Ordinary Shares") to the Directors and a service provider to
the Company (the "Options").  The Options have been granted pursuant to the
Company's share option plan adopted on 16 December 2020.

 

In order to be eligible to receive new EMI options, Vivian Hallam, Executive
Director, has, on 24 March 2023, surrendered 523,808 EMI options previously
granted to him on 14 October 2021 and that had an exercise price of 31.5p.

 

In aggregate, 2,900,000 Options have been granted to Directors of the Company,
as follows:

 

 Name           No. options over Ordinary Shares previously held  No. Options granted  No. options over Ordinary Shares surrendered  Resultant holding of options over Ordinary Shares held  Percentage of the current issued share capital of the Company
 Trevor Brown   1,500,000                                         1,250,000            -                                             2,750,000                                               4.3
 Vivian Hallam  2,500,000                                         1,250,000            523,808                                       3,226,192                                               5.1
 Susan Hagan    50,000                                            200,000              -                                             250,000                                                 0.4
 Qu Li          0                                                 200,000              -                                             200,000                                                 0.3

 

The Options granted to Vivian Hallam are EMI options and the Options granted
to Trevor Brown, Susan Hagan and Qu Li are unapproved options. The exercise
price of the Options is 7.75p, being the closing mid-market price of an
Ordinary Share on 24 March 2023, the date of grant. The Options will vest from
27 March 2024 and be exercisable up to 27 March 2033, subject to continued
employment. The Options granted to Trevor Brown and Vivian Hallam, as
Executive Directors of the Company, have an additional performance related
vesting criteria that the closing mid-market price of an Ordinary Share must
exceed 9.6875p (being a 25% premium to the Option exercise price) for 10
business days out of a consecutive 30 business day period.

 

Following the grant of the Options and surrender of historic options held by
Viv Hallam, the Company now has options outstanding over a total of 7,022,192
Ordinary Shares, equivalent to 11.0% 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
                                                                   Vivian Hallam  Executive Director
                                                                   Susan Hagan    Non-Executive Director
                                                                   Qu Li          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                                                         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 7.75p per option

Trevor Brown   1,250,000
                                                                   Vivian Hallam  1,250,000
                                                                   Susan Hagan    200,000
                                                                   Qu Li          200,000
 d)   Aggregated information                                       N/A

      - Aggregated volume

      - Price

      - Principal amount

 e)   Dates of the transaction                                     24 March 2023

 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 7.75p per option

 

 Trevor Brown   1,250,000
 Vivian Hallam  1,250,000
 Susan Hagan    200,000
 Qu Li          200,000

d)

 

Aggregated information

- Aggregated volume

- Price

- Principal amount

 

N/A

 

e)

 

Dates of the transaction

 

24 March 2023

f)

Place of transaction

Outside a trading venue

 

For further information:

 

 Braveheart Investment Group plc                                Tel: 01738 587555
 Trevor Brown CEO

 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
 Duncan Vasey / Lucy Williams

 

 

 

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