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RNS Number : 9444V SIMEC Atlantis Energy Limited 17 December 2021
17 December 2021
SIMEC Atlantis Energy Limited
("SAE", the "Company" and, together with its subsidiaries, the "Group")
Grant of Options - Executive Directors
SAE announces that on 16 December, under the terms of the Company's long term
incentive plan ("LTIP"), the Board has approved the award and grant of options
over 20,300,000 Ordinary Shares in the Company, representing 2.8% of the
Company's existing share capital. 10,000,000 options have been granted to the
following executive directors:
Executive Director
Position
Options Granted
Graham
Reid
Chief Executive
Officer
5,000,000
Andrew
Charters
Chief Financial
Officer
5,000,000
The balance of 10,300,000 options has been awarded to a group of senior
employees considered key to the continuing development and success of the
Group.
The options have been granted subject to continued employment and will vest in
three equal annual instalments commencing on the first anniversary of the date
of grant. There are no further performance conditions. The options have an
exercise price of 2.21p based on the average market price over the 5 days
prior to the date of grant plus 15%, and will be exercisable for a maximum
period of 10 years.
Following the grant of the options, the total number of Ordinary Shares
outstanding under the Company's LTIP is 28,891,480, representing 4% of the
Company's issued share capital.
The Board believes it is essential that the Company incentivises its executive
directors and key senior managers to drive the business forwards and provide
an alignment of interest with those of shareholders.
Enquiries:
SIMEC Atlantis Energy
Limited
+44 (0) 7739 832 446
Sean Parsons, Director of External Affairs
Investec Bank plc
+44 (0) 20 7597 5970
(Nominated adviser and Joint
Broker)
Jeremy Ellis
Ben Griffiths
Shalin Bhamra
Arden Partners plc
+44 (0) 20 7614 5900
(Joint
Broker)
Ruari McGirr
Richard Johnson
Simon Johnson
Notes to Editors
SIMEC Atlantis Energy
SAE is a global developer, owner and operator of sustainable energy projects
with a diverse portfolio in various stages of development. This includes a 77
per cent. stake in the world's largest tidal stream power project, MeyGen, 100
per cent. of the 220MW Uskmouth Power Station conversion project and 100 per
cent. of Green Highland Renewables, a leading developer of mini-hydro
projects.
https://www.simecatlantis.com/ (https://www.simecatlantis.com/)
More on the MeyGen Project: https://simecatlantis.com/projects/meygen/
(https://simecatlantis.com/projects/meygen/)
More on the Uskmouth
Project: https://simecatlantis.com/project-development-operation/simec-uskmouth-power/
(https://simecatlantis.com/project-development-operation/simec-uskmouth-power/)
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