FireAngel SafetyTech - Award of Options and Directors' Shareholdings

Fireangel Safety Technology

11/08/2023 09:21

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RNS Number : 0853J  FireAngel Safety Technology Group  11 August 2023

11 August 2023

 

FireAngel Safety Technology Group plc

('FireAngel', the 'Company' or the 'Group')

 

 Award of Options

and

Director shareholding

 

Further to the Company's announcement on 6 June 2023 ("Announcement"),
FireAngel (AIM: FA.), one of Europe's leading developers and suppliers of home
safety products, announces further details of the award of options ("Options")
over the Company's ordinary shares of 2 pence each (the "Shares") to Neil
Radley, the Company's Chief Executive Officer, under its Long-Term Incentive
Plan ('LTIP'). Pursuant to the calculation set out in the Announcement,
Options over 7,263,157 Shares were awarded to Mr Radley on 7 June 2023.

 

In addition, on 11 August 2023, Options over 4,264,000 Shares were awarded to
Zoe Fox, the Company's Chief Finance Officer, under the LTIP.

 

The Options may be exercised at any time after 31 December 2025 ("Vesting
Date"), at a cost to the employee of the nominal value of the Shares, being 2
pence per Share. The Options expire on 11 August 2033.

 

Vesting of the Options is dependent on a performance target, based on total
shareholder return ("TSR"). The maximum number of Options that vest and become
exercisable into Shares on the Vesting Date is calculated as follows for the
performance condition:

 

 Share Price              % of Options Vesting
 Less than 6p             0%
 From 6p to 8p            25%
 Greater than 8p to 11p   50%
 Greater than 11p to 15p  75%
 Greater than 15p         100%

 

In the event of an acquisition (or equivalent) 50% shares vest at any price up
to 8.0p and 100% above 8.0p.

Following the above awards, the total interest of Mrs Fox and Mr Radley in
Shares, warrants and options over Shares is as follows:

 

                                                            Interest in Shares in LTIP  Warrants

              Number of              % of

              Ordinary Shares held   issued share capital

 Name
 Zoe Fox      277,738                0.09%                  6,607,260                   94,455
 Neil Radley  1,889,080              0.62%                  7,263,157                   944,540

ENDS

For further information, please contact:

 FireAngel Safety Technology Group plc         024 7771 7700
 Neil Radley, Chief Executive Officer
 Zoe Fox, Chief Finance Officer

 Shore Capital (Nominated adviser and broker)
 Tom Griffiths/David Coaten/Tom Knibbs         020 7408 4050

 Houston (Financial PR)
 Kate Hoare/Ben Robinson/Kelsey Traynor        0204 529 0549

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

Notes to Editors

About FireAngel Safety Technology Group plc

FireAngel's mission is to protect and save lives by making innovative home
safety products which are simple and accessible. FireAngel is one of the
market leaders in the European home safety products market.

FireAngel's principal products are connected smoke alarms, CO alarms, heat
alarms and accessories.  The Company has an extensive portfolio of patented
intellectual property in Europe, the US and other selected territories.
Products are sold under FireAngel's leading brands of FireAngel, FireAngel
Pro, FireAngel Specification and AngelEye.

For further product information, please visit:  www.fireangeltech.com
(https://url.avanan.click/v2/___http:/www.fireangeltech.com/___.YXAxZTpzaG9yZWNhcDphOm86ZmE1YmYxYzdmZWYxNjJkOTA1ZjdmOGQzNjQ5OWFkOGQ6Njo4NzVkOjIwNTJmNTcyMDNhMDYxMzA5NTEwZjg5OTBkZjM5ODQ5N2NiNjg4ZGNkYzI0NGUzZWNjYTYzNzJkMTAxZWM5MGM6cDpU)

      Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Neil Radley

 2    Reason for the notification
 a)   Position/status                                              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                                                         FireAngel Safety Technology Group plc
 b)   LEI                                                          213800NUMP6JL24PJ797
 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  Options over Ordinary shares of 2p each

      Identification code

                                                                   GB0030508757
 b)   Nature of transaction                                        Award of Options

 c)   Price(s) and volume(s)                                       Price(s)                      Volume(s)
                                                                   2p exercise price per Option  7,263,157

      Aggregated information                                       N/A

      -      Aggregated volume

      -      Price
 e)   Date of the transaction                                      7 June 2023
 f)   Place of the transaction                                     Outside of a trading venue

 

      Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Zoe Fox

 2    Reason for the notification
 a)   Position/status                                              Chief Finance Officer

 b)   Initial notification/Amendment                               Initial Notification
 3    Details of the issuer, emission allowance market participant, auction
      platform, auctioneer or auction monitor
 a)   Name                                                         FireAngel Safety Technology Group plc
 b)   LEI                                                          213800NUMP6JL24PJ797
 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  Options over Ordinary shares of 2p each

      Identification code

                                                                   GB0030508757
 b)   Nature of transaction                                        Award of Options

 c)   Price(s) and volume(s)                                       Price(s)                      Volume(s)
                                                                   2p exercise price per Option  4,264,000

      Aggregated information                                       N/A

      -      Aggregated volume

      -      Price
 e)   Date of the transaction                                      11 August 2023

 f)   Place of the transaction                                     Outside of a trading venue

 

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