REG - Velocys PLC - Grant of Share Options to Directors

VelocysAnnouncement

20/06/2023 07:00

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RNS Number : 2129D  Velocys PLC  20 June 2023

Velocys PLC

20 June 2023

 

 

 

 

Velocys plc

("Velocys" or "the Company")

 

 

Grant of Share Options to Directors

 

Velocys plc (VLS.L), the sustainable fuels technology company, today announces
that, on 19 June 2023, Henrik Wareborn, Chief Executive Officer and a director
of the Company and Philip Sanderson, Chief Financial Officer and a director of
the Company, were granted options ("Annual Awards") under the Velocys 2021
Share Option Scheme over the Company's £0.01 Ordinary shares ("Ordinary
Shares"). The Annual Awards, which have been made under the Rules of the
Velocys 2021 Share Option Scheme are as follows:

 

 Name of Director  Type of share option  Number of share options granted  Exercise price  Vesting/ Exercise (See notes  Number of share options as % of present issued share capital

                                                                                          below)
 Henrik Wareborn   Annual Award 2022     9,000,000                        £0.025          Note 1                        0.54%
 Philip Sanderson  Annual Award 2022     7,500,000                        £0.025          Note 1                        0.45%

 

Following these notifications:

 

(i)      Henrik Wareborn is interested in 3,118,445 Ordinary Shares and
Options over 22,858,254 Ordinary Shares of the Company, together representing
1.57% of the present issued share capital of the Company.

 

(ii)       Philip Sanderson is interested in 600,000 Ordinary Shares and
Options over 12,500,000 Ordinary Shares of the Company, together representing
0.79% of the present issued share capital of the Company.

 

The Annual Awards are in addition to grants of share options over 34,282,000
Ordinary Shares (representing 2.08% of the present issued share capital) to
Velocys' other key staff in respect of share awards for the 2022 financial
year.

 

The above options are subject to terms for Malus and Clawback and may not in
any event be exercised later than the day immediately preceding the fifth
anniversary of the date of grant.

 

Note 1: The Annual Awards vest as to:

 

(i)       100% on the third anniversary of the date of grant subject to
the total market capitalisation of the Company being 50% higher on the third
anniversary of the date of grant compared with the market capitalisation of
the Company at the date of the grant.

- END -

 

 

Enquiries:

 

 Velocys                                                                     +44 1865 800821

 Henrik Wareborn, CEO

 Philip Sanderson, CFO
 Panmure Gordon (UK) Limited (Nomad and Joint Broker)                        +44 20 7886 2500

 Emma Earl (Corporate Finance) John Prior (Corporate Finance) Hugh Rich
 (Corporate Broking)
 Shore Capital Stockbrokers Limited (Joint Broker)                           +44 20 7408 4090

 Henry Willcocks (Corporate Broking) Toby Gibbs (Corporate Advisory) James
 Thomas (Corporate Advisory)
 Buchanan (Financial PR)                                                     +44 20 7466 5000

 Helen Tarbet Simon Compton
 Radnor Capital (Investor Relations)                                         +44 20 3897 1830

 Joshua Cryer Iain Daly

 

 

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                                                         a)   Henrik Wareborn

                                                                  b)   Philip Sanderson
 2   Reason for the notification
 a)  Position/status                                              a)   Chief Executive Officer

                                                                  b)   Chief Financial Officer
 b)  Initial notification                                         Initial notification

     /Amendment
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         VELOCYS PLC
 b)  LEI                                                          549300KGMQV70HA5Y715
 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  Options over ordinary shares of £0.01 each
 b)  Identification code                                          ISIN: GB00B11SZ269
 c)  Nature of the transaction                                    Grant of share options
 d)  Price(s) and volume(s)                                       Price(s)      Volume(s)
                                                                  a) 2.5 pence  a) 9,000,000
                                                                  b) 2.5 pence  b) 7,500,000
 e)  Aggregated information

                                                                  16,500,000

                                                                  2.5 pence
 f)  Date of the transaction                                      19 June 2023
 g)  Place of the transaction                                     Outside a trading venue

e)

Aggregated information

 

16,500,000

 

2.5 pence

f)

Date of the transaction

19 June 2023

g)

Place of the transaction

Outside a trading venue

 

 

 

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