REG - CYKEL AI PLC - Grant of Share Options and PDMR

Cykel AIAnnouncement

19/11/2024 13:45

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241119:nRSS8374Ma&default-theme=true

RNS Number : 8374M  CYKEL AI PLC  19 November 2024

 

 

 

 

 

19 November 2024

 

Cykel AI PLC

("Cykel" or the "Company")

 

Grant of Share Options and Notification of Transactions by Persons Discharging
Managerial Responsibilities ("PDMRs")

 

Cykel (LSE:CYK) announces that it has granted options over a total of
33,000,000 ordinary shares of £0.01 each ("Options"), details of which are
set out below. The Options are exercisable at 5.25p per share, a 44% premium
to the current share price, lapse on the 10(th) anniversary of the Vesting
Start Date, and vest over a period of 2 years starting from their respective
Vesting Start Date, with 12/36ths vesting on the Vesting Start Date, and
thereafter a further 1/36th of the Options vesting each month.

 

A total of 26,000,000 Options were granted pursuant to the Company's
Enterprise Management Incentive ("EMI") Option Plan. Of these, 6,000,000
Options were granted to employees of the Company and their respective Vesting
Date is 1 June 2024, and 20,000,000 Options were granted to Ewan Colling
(CEO), Director/Person Discharging Managerial Responsibilities, and Ewan's
Vesting Date is 8 October 2024.

 

A total of 7,000,000 Options were granted to certain advisors, outside its EMI
Option Plan (non-EMI qualifying Options). Their Vesting Start Date is 1
October 2024.

 

 

 For further information, please contact:

 Cykel AI plc

 Ewan Collinge        Via First Sentinel

 First Sentinel (Financial Adviser)

 Brian Stockbridge    brian@first-sentinel.com (mailto:brian@first-sentinel.com)

  

                      +44 (0) 7858 888 007
 Clear Capital Markets (Broker)

 Bob Roberts          +44 (0) 20 3869 6080

 

 

The information set out below is provided in accordance with the requirements
of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

 

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                                                         Ewan Collinge
 2.  Reason for the Notification
 a)  Position/status                                              Director and Chief Executive Officer
 b)  Initial notification / Amendment                             Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Cykel AI PLC
 b)  LEI                                                          213800QEO6L6JAS62H02
 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
     ISIN                                                         GB00BJ9MHH56
 b)  Nature of the transaction                                    Grant of an option over ordinary shares under the Employee Option Plan
 c)  Price(s) and volume(s)                                       Option Price                   Volume(s)
                                                                  5.25 pence per Ordinary Share  Option over 20,000,000

                                                                                  Ordinary Shares

 d)  Aggregated information:                                      See 4 (c) above

     · Aggregated volume

     · Price
 e)  Date of the transaction                                      19 November 2024
 f)  Place of the Transaction                                     Outside trading venue

d)

Aggregated information:

· Aggregated volume

· Price

See 4 (c) above

e)

Date of the transaction

19 November 2024

f)

Place of the Transaction

Outside trading venue

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHFFFFDUELSEDF