REG - IQ-AI Limited - Grant of Options

IQ-AIAnnouncement

05/03/2024 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240305:nRSE5260Fa&default-theme=true

RNS Number : 5260F  IQ-AI Limited  05 March 2024

IQ-AI Limited

("IQ-AI" or the "Company")

Grant of Options

 

IQAI Limited (the "Company" or "IQAI"), announces that, the Company has
granted options over a total of 18,905,474 ordinary shares of £0.01 each in
the Company ("Ordinary Shares") to the Directors and employees to the Company
(the "Options"). All Options are exercisable for 10 years from the date of
grant.

 

In aggregate, 18,130,474 Options have been granted to Directors of the
Company, as follows:

 

                 New options  Percentage of the current issued share capital of the Company
 Trevor Brown    3,000,000    1.35
 Mike Schmainda  8,630,474    3.89
 Vinod Kaushal   6,000,000    2.71
 Brett Skelly    500,000      0.23

 

The options granted to employees will vest annually in four equal tranches
with the first quarter vesting upon grant. Half of Mr Kaushal's options will
vest immediately, 1,500,000 options will vest after one year, and the balance
will vest after two years. Mr Brown, Mr Schmainda and Mr Skelly's options will
vest immediately.
 

 

Following the grant of the Options and historic options held by employees, the
Company now has options outstanding over a total of 19,680,474 Ordinary
Shares, equivalent to 8.88% 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
                                                                   Mike Schmainda  Executive Director
                                                                   Vinod Kaushal   Non-Executive Director
                                                                   Brett Skelly    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                                                         IQ-AI Limited

 b)   LEI                                                          213800SPW48XRJS2QH57

 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 £0.01 pence each in IQ-AI Limited

      Identification code                                          JE00BD4H0R42

 b)   Nature of the transactions                                   Grant of options over ordinary shares

 c)   Price(s) and volume(s)                                       Price:  Exercise price of £0.019 per option

Trevor Brown    3,000,000
                                                                   Mike Schmainda  8,630,474
                                                                   Vinod Kaushal   6,000,000
                                                                   Brett Skelly    500,000
 d)   Aggregated information                                       N/A

      - Aggregated volume

      - Price

      - Principal amount

 e)   Dates of the transaction                                     5 March 2024

 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

 

IQ-AI Limited

b)

 

LEI

 

213800SPW48XRJS2QH57

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 £0.01 pence each in IQ-AI Limited

 

JE00BD4H0R42

b)

 

Nature of the transactions

 

Grant of options over ordinary shares

c)

 

Price(s) and volume(s)

 

 

Price:  Exercise price of £0.019 per option

 

 Trevor Brown    3,000,000
 Mike Schmainda  8,630,474
 Vinod Kaushal   6,000,000
 Brett Skelly    500,000

d)

 

Aggregated information

- Aggregated volume

- Price

- Principal amount

 

N/A

 

e)

 

Dates of the transaction

 

5 March 2024

f)

Place of transaction

Outside a trading venue

 

 

 

The Directors of the Company accept responsibility for the contents of this
announcement.

 

**ENDS**

 For further information please contact:

 

IQ-AI Limited

Trevor Brown/Brett Skelly/Vinod Kaushal

Tel: 020 7469 0930

 

Peterhouse Capital Limited (Financial Adviser and Broker)

Lucy Williams/Heena Karani

Tel: 020 7220 9797

 

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  DSHEAKDLEDPLEFA