Light Science Tech. - Grant of Share Options
Light Science Technologies Holdings plc
("LSTH", "Light Science", the "Company" or the "Group")
Grant of share Options and Surrender of Existing Options
Light Science Technologies Holdings plc (AIM: LST), the innovative technology and manufacturing business providing real-world solutions targeting issues including global food security and fire safety, announces that certain existing share options held by directors, senior management and employees have been surrendered and replaced with new share options under the Company's existing share option arrangements.
The Board has undertaken a review of the Group's incentive arrangements and concluded that following the recent fundraising, the replacement of certain existing options is appropriate to ensure that the Company's share-based incentive schemes continue to fulfil their intended purpose of retaining, motivating and rewarding key personnel whilst aligning their interests with those of shareholders.
Accordingly, options over a total of 22,750,275 ordinary shares ("Existing Options") have been surrendered and replaced with new options over 27,078,825 ordinary shares ("New Options"). The New Options have an exercise price of 2 pence per ordinary share, being the closing mid-market price per ordinary share on 3 June 2026, and retain substantially the same vesting schedules and expiry dates as the Existing Options.
The New Options comprise:
· 6,100,000 Existing Options granted on 15 October 2021 with a nil exercise price have been surrendered and replaced by 8,900,000 options with an exercise price of 2p.
· 16,650,275 options granted on 6 March 2024 with an exercise price of 5p have been surrendered and replaced by 18,178,825 options at an exercise price of 2p.
· All New Options have therefore been harmonised to an exercise price of 2p
The Company confirms that, following the grant of the New Options, its share option arrangements remain within the limits approved by shareholders.
In addition, the Company intends to establish a new long-term incentive plan (LTIP), based around appropriate performance conditions, which is intended to incentivise long-term performance and sustainable growth.
Directors' and PDMR option holdings following grant:
Director
Existing Options surrendered
New Options granted and aggregate options held
Simon Deacon
3,330,055
4,858,605
Jim Snooks
4,830,055
5,518,580
Andrew Hempsall
4,830,055
5,518,580
Graham Cooley
6,660,110
6,660,110
Daryl Hollands
700,000
1,021,311
Total
20,350,275
23,577,186
For additional information please contact:
Light Science Technologies Holdings plc
Simon Deacon, Chief Executive Officer
Jim Snooks, Chief Financial Officer
Andrew Hempsall, Chief Operating Officer
www.lightsciencetechnologiesholdings.com
via Walbrook PR
Shore Capital (Nominated Adviser and Broker)
Stephane Auton / George Payne
+44 (0)20 7408 4050
Walbrook PR Ltd (Media & Investor Relations)
Nick Rome / Marcus Ulker
Tel: +44 (0)20 7933 8780 or lst@walbrookpr.com
PDMR Notification Forms:
The notification of dealing forms set out below are provided in accordance with the requirements of the UK Market Abuse Regulation.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
1. Graham Cooley
2. Simon Deacon
3. Jim Snooks
4. Andrew Hempsall
5. Daryl Hollands
2
Reason for the notification
a)
Position/status
1. Non-Executive Chair
2. CEO
3. CFO
4. COO
5. Group Financial Controller
b)
Initial notification /Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Light Science Technologies Holdings plc
b)
LEI
213800V9MWRRLVQ6EY56
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
Surrender and Grant of options under management share option plan
Surrender and Grant of options under non-tax advantaged share option plan
Identification code
GB00BNDQJN14
b)
Nature of the transaction
Issue of options over Ordinary Shares
c)
Price(s) and volume(s)
Price
Volume(s)
1) 2p exercise price
1) 6,660,110
2) 2p exercise price
2) 4,858,605
3) 2p exercise price
3) 5,518,580
4) 2p exercise price
4) 5,518,580
5) 2p exercise price
5) 1,021,311
d)
Aggregated information
- Aggregated volume
N/A - Single transactions
- Price
e)
Date of the transaction
4 June 2026
f)
Place of the transaction
Outside a trading venue
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