Infrastrata PLC Grant of options (9557Z)
16 Enero 2020 - 1:00AM
UK Regulatory
TIDMINFA
RNS Number : 9557Z
Infrastrata PLC
16 January 2020
16 January 2020
InfraStrata plc
("InfraStrata" or the "Company")
Grant of options
InfraStrata plc (AIM: INFA), the UK quoted company focused on
strategic infrastructure projects and physical asset life-cycle
management, announces that its Remuneration Committee has approved
the grant of share options under the Company's EMI share option
scheme over 30,000,000 new ordinary shares of 0.01p each in the
Company ("Ordinary Shares") to the Company's CFO, Arun Raman, and
over 13,320,705 new Ordinary Shares to Judith Tweed, Director of
Islandmagee Energy Limited, the Company's 100% subsidiary which
owns the Company's flagship Islandmagee gas storage project
(together, the "Options").
The Options become exercisable in three tranches as follows:
-- as to one third from 16 June 2020;
-- as to one third from 16 June 2021; and
-- as to one third from 16 June 2022.
Upon each vesting date, half of the Options vested are
exercisable at a price of 1.5p per share and half are exercisable
at nominal value of 0.01p per share.
The Options expire after five years. The Options become
exercisable immediately for a period of six months in customary
"good leaver" circumstances and in the event of a sale of either:
i) the Company; ii) the Islandmagee gas storage project (the
"Project"); or iii) the Company's subsidiary, Islandmagee Energy
Limited (subject to the Project comprising an asset of the
subsidiary).
The Company's Remuneration Committee has determined the terms of
the Options for incentivisation and retention purposes and in
recognition of Arun Raman's and Judith Tweed's contribution to the
Company to date and going forward. Neither Arun or Judith
previously held any options over new Ordinary Shares.
The grant of Options to Arun Raman and Judith Tweed is
considered a related party transaction pursuant to rule 13 of the
AIM Rules for Companies and accordingly, the independent directors
for this purpose (being John Wood and Malcolm Groat) consider,
having consulted with the Company's nominated adviser, Allenby
Capital Limited, that the terms of the Options are fair and
reasonable insofar as the Company's shareholders are concerned.
Following this grant of Options, the Company has options
outstanding over 79,458,597 new Ordinary Shares, which represents
approximately 2.12 per cent. of the Company's issued ordinary share
capital.
John Wood, Interim Chairman and CEO, commented "It is important
to recognise the progress InfraStrata has made over the last year
where both Arun Raman and Judith Tweed have been key to the
Company's success. These long-term incentives are designed to align
shareholders' and the Company's interests in retaining our key
employees to deliver a successful Project over the next three
years."
For further information, please visit www.infrastrataplc.com or
contact:
InfraStrata plc c/o Newgate Communications
John Wood, Chief Executive & Interim +44 (0)20 3735 8825
Chairman
Allenby Capital Limited (AIM Nominated
Adviser & Joint Broker)
Jeremy Porter / Liz Kirchner +44 (0)20 3328 5656
Arden Partners plc (Joint Broker)
Paul Shackleton / Dan Gee-Summons (Corporate
Finance)
Simon Johnson (Corporate Broking) +44 (0)20 7614 5900
Newgate Communications (PR)
Elisabeth Cowell/ Ian Silvera/ Jamie
Williams +44 (0)20 3757 6880
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 Arun Suri Raman
2 Reason for the notification
a) Position/status Chief Finance Officer (PDMR)
b) Initial Initial notification
notification
/Amendment
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
a) Name InfraStrata plc
b) LEI 2138001JAP311MVUZ948
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 Ordinary shares of 0.01p
of the financial GB00B28YMP66
instrument,
type of
instrument
Identification
code
b) Nature of Grant of options over new ordinary shares
the transaction
c) Price(s) Price(s) Volume(s)
and volume(s) 0.01p 15,000,000
1.5p 15,000,000
d) Aggregated n/a
information
- Aggregated
volume
- Price
e) Date of 15 January 2020
the transaction
f) Place of outside of a trading venue - grant of options
the transaction
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Judith Tweed
2 Reason for the notification
a) Position/status Director, Islandmagee Energy Limited (PDMR)
b) Initial Initial notification
notification
/Amendment
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
a) Name InfraStrata plc
b) LEI 2138001JAP311MVUZ948
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 Ordinary shares of 0.01p
of the financial GB00B28YMP66
instrument,
type of
instrument
Identification
code
b) Nature of Grant of options over new ordinary shares
the transaction
c) Price(s) Price(s) Volume(s)
and volume(s) 0.01p 6,660,353
1.5p 6,660,352
d) Aggregated n/a
information
- Aggregated
volume
- Price
e) Date of 15 January 2020
the transaction
f) Place of outside of a trading venue - grant of options
the transaction
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END
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