REG - Haydale Graphene Ind - Grant of Share Options

Haydale Graphene IndustriesAnnouncement

26/04/2023 15:15

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RNS Number : 5832X  Haydale Graphene Industries PLC  26 April 2023

 

 For immediate release  26 April 2023

 

Haydale Graphene Industries plc

 

("Haydale", "the Company" or the "Group")

 

Grant of share options

 

 

Haydale (AIM: HAYD), the global advanced materials group, announces that on 25
April 2023 the Company approved the following:

 

1.    under the 2020 EMI Scheme ("2020 EMI Scheme"), the grant of options
to staff of the Group, over an aggregate 1,750,000 ordinary shares of 2p each
in the capital of the Company ("Ordinary Shares"); and

2.    under the Haydale Technologies, Inc ("HTI") Stock Appreciation Rights
Plan 2020 ("2020 SAR"), the grant of stock appreciation rights ("Stock
Appreciation Rights") to an employee of the Group's wholly owned US
subsidiary, HTI, over an aggregate 1,000,000 Ordinary Shares.

(The 2020 EMI Scheme and the 2020 SAR , together the "Share Schemes". The new
Options or Stock Appreciation Rights  granted under the Share Schemes,
together the "April 2023 Grants"). The April 2023 Grants represents
approximately 0.35% of the Company's issued ordinary share capital.

 

Background to the April 2023 Grants

 

The Company adopted the Share Schemes to enable it to retain and incentivise
staff and to reward them for the achievement of its longer-term objectives.
The Share Schemes have certain performance criteria to ensure that value is
created for shareholders before any value is delivered to Directors and key
staff.   The April 2023 Grants will extend the options to those that have
joined since the previous grant of Options in November 2022.

 

Terms of the April 2023 Grants

 

All of the April 2023 Grants have an exercise price of 2.25p per Ordinary
Share (being a 42% premium to the closing mid-market price of the Company's
Ordinary Shares on 25 April 2023, (the day of the approval of the April 2023
Grants) and can only be exercised between the third and tenth anniversary of
the awards. The proportion of the awards made by the April 2023 Grants that
are capable of vesting is dependent on certain performance criteria, directly
linked to the performance of the Company's share price over the period to 30
September 2026 as follows:

 

 % of April 2023 Grants subject to the Performance Condition

                                                              Performance Condition
                                                              For a period of 15 consecutive dealing days, commencing after the date of the

                                                            April 2023 Grants and ending on or before the 30 September 2024, the closing
 30%                                                          price of the Ordinary Shares exceeds 4p (four) per Ordinary Share.
                                                              For a period of 15 consecutive dealing days, commencing after the date of the

                                                            April 2023 Grants and ending on or before the 30 September 2025, the closing
 30%                                                          price of the Ordinary Shares exceeds 6p (six) per Ordinary Share.
                                                              For a period of 15 consecutive dealing days, commencing after the date of the

                                                            April 2023 Grants and ending on or before the 30 September 2026, the closing
 40%                                                          price of the Ordinary Shares exceeds 8p (eight) per Ordinary Share.

 

There are no other vesting criteria for the April 2023 Grants. If the share
price does not reach the target price by their respective dates, that portion
of the award will lapse.

 

The Company's Remuneration Committee retains the ability to amend the
performance conditions for the April 2023 Grants and for future grants to
ensure that such grants achieve the stated purpose.

 

Following the April 2023 Grants, the Company's total number of Options and
SARs outstanding as at the date of this announcement is 101,775,000
representing approximately 12.95% of the Company's existing issued share
capital and 9.90% on a fully diluted basis including all outstanding warrants.

 

The number of Ordinary Shares currently in issue is 785,852,475 and it is this
number that has been used to calculate the above percentage shareholdings.

 

 

For further information:

 Haydale Graphene Industries plc
 David Banks, Non-Executive Chair               Tel: +44 (0) 1269 842 946
                                                www.haydale.com (http://www.haydale.com)
 finnCap (Nominated Adviser & Broker)
 Julian Blunt/Edward Whiley, Corporate Finance  Tel: +44 (0) 20 7220 0500

 Andrew Burdis, ECM

Notes to Editors

 

Haydale is a global technologies and materials group that facilitates the
integration of graphene and other nanomaterials into the next generation of
commercial technologies and industrial materials.  With expertise in
graphene, silicon carbide and other nanomaterials, Haydale is able to deliver
improvements in electrical, thermal and mechanical properties, as well as
toughness.  Haydale has granted patents for its technologies in Europe, USA,
Australia, Japan and China and operates from six sites in the UK, USA and the
Far East.

 

For more information please visit: www.haydale.com (http://www.haydale.com)

Twitter: @haydalegraphene

 

 

 

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