REG - Byotrol PLC - Grant of Share Incentive Awards

ByotrolAnnouncement

16/12/2022 07:00

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RNS Number : 8963J  Byotrol PLC  16 December 2022

 

 

 

Byotrol Plc

("Byotrol" or the "Company")

Grant of share incentive awards to Directors and senior managers

 

1.  Establishment and operation of the Company's new Long Term Incentive Plan

 

Byotrol Plc (AIM: BYOT), the specialist infection prevention and control
company, announces that, on 15 December 2022, it granted awards ("Awards")
over 22,000,000 ordinary shares of 0.25 pence each in the capital of the
Company ("Ordinary Shares") to Board Directors and senior leadership team
pursuant to the terms of its newly established Long Term Incentive Plan (the
"LTIP"), details of which are set out below:

 

 Director             Board Position  Number of Ordinary Shares over which "Performance Awards" granted  Number of Ordinary Shares over which "Retention Awards" granted  Total number of Ordinary Shares over which Awards granted  Number of Options over Ordinary Shares currently held  Number of Options over Ordinary Shares Held by way of convertible notes  Number of Ordinary Shares Currently Held
 David Traynor        Exec Chairman   2,000,000                                                          2,000,000                                                        4,000,000                                                  5,360,000                                              1,538,461                                                                9,935,297
 Vivan Pinto          CEO             2,000,000                                                          2,000,000                                                        4,000,000                                                  4,000,000                                              3,076,923                                                                300,000
 Christopher Sedwell  CFO             2,000,000                                                          2,000,000                                                        4,000,000                                                  4,000,000                                              1,538,461                                                                188,436
 Sean Gogarty         NED             -                                                                  2,000,000                                                        2,000,000                                                  4,000,000                                              3,076,923                                                                -
 Trevor Francis       NED             -                                                                  2,000,000                                                        2,000,000                                                  4,555,000                                              1,538,461                                                                4,470,214

 

Options outstanding over Ordinary Shares following this award, including those
detailed above, now total 37,179,650 which equates to 8.2% of issued share
capital, well within the guidelines set out by the ABI and considered best
practice.

 

The LTIP has been established in order to incentivise Executive Directors and
certain senior managers to deliver long term value for shareholders, align
their interests with the various stakeholders and retain these key individuals
within the business. No consideration was paid for the grant of the Awards,
which have been structured as "nil cost" options. All option awards will lapse
if the employee leaves the business prior to vesting, save for standard, very
limited 'Good Leaver' provisions.

 

16,000,000 of the 22,000,000 options being issued are being structured as
Retention Awards, dependent solely on continued employment at date of
vesting.  8,000,000 options will vest automatically at 18 months from grant
and 8,000,000 at 36 months from grant, with an exercise price of 2.15 pence

 

The 6,000,000 Performance Awards detailed in the above table for Executive
Directors only will normally vest on the third and fourth anniversary of
grant, dependent on exceeding certain performance targets relating to Total
Stock Return, Revenue or EBITDA.  The exercise price of these options will be
0.25 pence.

 

Once the Awards have vested, they will generally be available to be exercised
until the seventh anniversary of their original grant.

 

Further information in relation to the LTIP will be included in Byotrol's next
annual report and financial statements.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014. Upon the publication of this announcement via the
Regulatory Information Service, this inside information is now considered to
be in the public domain.

 

 

For further information contact:

 

 Byotrol Plc
 David Traynor, Executive Chairman                                                    +44 (0)1925 742 000
 Vivan Pinto, Chief Executive

 Chris Sedwell, Chief Financial Officer

 finnCap Limited (Nominated Adviser and Broker)                                       +44 (0)20 7220 0500
 Geoff Nash / George Dollemore - Corporate Finance
 Nigel Birks / Harriet Ward - ECM

 Flagstaff Strategic and Investor Communications                                      +44 (0)20 7129 1474
 Tim Thompson/Andrea Seymour/Fergus Mellon                                            byotrol@flagstaffcomms.com (mailto:byotrol@flagstaffcomms.com)

 

 

 

Notes to editors

 

Byotrol plc (BYOT.L), quoted on AIM, is a specialist infection prevention and
control company, operating globally in the Healthcare, Industrial, Food and
Consumer sectors, providing low toxicity products with a broad-based and
targeted efficacy across all microbial classes; bacteria, viruses (including
coronavirus), fungi, moulds, mycobacteria and algae.

 

Byotrol's products can be used stand-alone or as ingredients within existing
products, where they can significantly improve their performance, especially
in personal hygiene, domestic and industrial disinfection, odour control, food
production and food management.

 

Byotrol develops and commercialises technologies that create easier, safer and
cleaner lives for everyone.

 

For more information, go to byotrol.com

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