Conditional Grant of Share Options
17/07/2025 07:00
RNS Number : 3716R
M Winkworth Plc
17 July 2025
17 July 2025
M Winkworth plc
Conditional Grant of Share Options
M Winkworth Plc ("Winkworth" or the "Company") announces that on 16 July 2025 it has granted options (the "Options") over 75,000 ordinary shares of £0.005 each in the capital of the Company ("Ordinary Shares") to Thuang Lin "Tara" Tan, the Company's Chief Operating Officer and a person discharging managerial responsibilities ("PDMR"), under the M Winkworth Plc EMI Share Option Plan 2025 (the "Plan"). The Options carry an exercise price of £0.005 per Ordinary Share and are intended to qualify as EMI share options.
The Options will vest in full on the second anniversary of the date of grant, subject to Tara's continued employment within the Company, and will lapse if she ceases employment before that date (other than in limited circumstances). Unless previously exercised or lapsed, the Options will be exercisable at any time thereafter until the tenth anniversary of the date of grant. Exercise is subject to a performance condition that the closing mid-price per Ordinary Share on the London Stock Exchange on the dealing day immediately prior to exercise must be at least £2.50. The Board may, in its absolute discretion, waive this condition in the event of a change of control of the Company or other exceptional circumstances.
The Plan is being introduced to replace the expired M Winkworth Plc EMI Share Option Plan and support the Company's strategy of incentivising, retaining and rewarding eligible employees and directors through equity participation. It permits the grant of tax-advantaged EMI options within the limits and conditions set out in Schedule 5 to the Income Tax (Earnings and Pensions) Act 2003, as well as non-tax advantaged options. Options granted under the Plan may be subject to vesting and performance conditions determined at the time of grant and are exercisable within a ten-year option period. The Plan also contains an overall dilution cap of 5 per cent of the Company's issued share capital in any rolling ten-year period.
The Company intends that the adoption of the Plan will be subject to shareholder approval at the Company's annual general meeting to be held in 2026 (the "2026 AGM"). In the event that shareholder approval is not obtained at the 2026 AGM, the Options shall lapse in full.
In aggregate, options outstanding over Ordinary Shares now amount to 461,777, representing approximately 3.58 per cent of the Company's issued share capital.
Including the above grant of Options, Tara will hold options over 75,000 Ordinary Shares. In addition, Tara holds 3,522 Ordinary Shares in the Company, representing approximately 0.03 per cent of the Company's issued share capital.
The information contained within this announcement is deemed to constitute inside information as stipulated under the UK Market Abuse Regulation. Upon publication of this announcement, this inside information is now considered to be in the public domain.
For further information please contact:
| M Winkworth PLC | Tel: 020 7355 0206 |
| Dominic Agace (Chief Executive Officer) | |
| Andrew Nicol (Chief Financial Officer) | |
| Shore Capital (Nominated Adviser & Broker) | Tel: 0207408 4050 |
| David Coaten / Henry Willcocks / George Payne | |
| Milbourne (Financial PR) | Tel:07921 881800 |
| Charlotte McMullen |
| 1. | Details of PDMR / person closely associated with them ('PCA') | |||||
| a) | Name | Thuang Lin"Tara"Tan | ||||
| 2. | Details of PDMR / person closely associated with them ('PCA') | |||||
| a) | Position / status | Chief Operating Officer | ||||
| b) | Initial notification / amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | M Winkworth plc | ||||
| b) | LEI | 213800W7G6NJ2PRNUM27 | ||||
| 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 | |||||
| c) | Description of the financial instrument | Options over ordinary shares of 0.5p each in the capital of M Winkworth plc ISIN: GB00B4TT7L53 | ||||
| d) | Nature of the transaction | Grant of options over ordinary shares of 0.5p each in the capital of M Winkworth plc | ||||
| e) | Price and volume |
| ||||
| f) | Aggregated information Aggregated volume Price | As above | ||||
| g) | Date of the transaction | 16 July 2025 | ||||
| h) | Place of the transaction | Off market | ||||