Grant of options

RNS Number : 2333U

Braveheart Investment Group plc

27 March 2023

 

27 March 2023

Braveheart Investment Group plc

("Braveheart" or the "Company")

Grant of options

Braveheart Investment Group (AIM: BRH), announces that, on 24 March 2023, the Company granted options over a total of 2,950,000 ordinary shares of 2p each in the Company ("Ordinary Shares") to the Directors and a service provider to the Company (the "Options").  The Options have been granted pursuant to the Company's share option plan adopted on 16 December 2020. 

In order to be eligible to receive new EMI options, Vivian Hallam, Executive Director, has, on 24 March 2023, surrendered 523,808 EMI options previously granted to him on 14 October 2021 and that had an exercise price of 31.5p.

In aggregate, 2,900,000 Options have been granted to Directors of the Company, as follows:

Name	No. options over Ordinary Shares previously held	No. Options granted	No. options over Ordinary Shares surrendered	Resultant holding of options over Ordinary Shares held	Percentage of the current issued share capital of the Company
Trevor Brown	1,500,000	1,250,000	-	2,750,000	4.3
Vivian Hallam	2,500,000	1,250,000	523,808	3,226,192	5.1
Susan Hagan	50,000	200,000	-	250,000	0.4
Qu Li	0	200,000	-	200,000	0.3

The Options granted to Vivian Hallam are EMI options and the Options granted to Trevor Brown, Susan Hagan and Qu Li are unapproved options. The exercise price of the Options is 7.75p, being the closing mid-market price of an Ordinary Share on 24 March 2023, the date of grant. The Options will vest from 27 March 2024 and be exercisable up to 27 March 2033, subject to continued employment. The Options granted to Trevor Brown and Vivian Hallam, as Executive Directors of the Company, have an additional performance related vesting criteria that the closing mid-market price of an Ordinary Share must exceed 9.6875p (being a 25% premium to the Option exercise price) for 10 business days out of a consecutive 30 business day period.

Following the grant of the Options and surrender of historic options held by Viv Hallam, the Company now has options outstanding over a total of 7,022,192 Ordinary Shares, equivalent to 11.0% of the Company's current issued share capital.

Further details of the Options can be found in the Notification of Dealing Form below.

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	Trevor Brown Chief Executive Officer Vivian Hallam Executive Director Susan Hagan Non-Executive Director Qu Li Non-Executive Director
2	Reason for the notification
a)	Position/status	See 1a) above
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Braveheart Investment Group plc
b)	LEI	2138006HQ3COMU626I61
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 Identification code	Ordinary shares of 2 pence each in Braveheart Investment Group plc GB00B13XV322
b)	Nature of the transactions	Grant of options over ordinary shares
c)	Price(s) and volume(s)	Price:  Exercise price of 7.75p per option Trevor Brown 1,250,000 Vivian Hallam 1,250,000 Susan Hagan 200,000 Qu Li 200,000
d)	Aggregated information - Aggregated volume - Price - Principal amount	N/A
e)	Dates of the transaction	24 March 2023
f)	Place of transaction	Outside a trading venue

For further information:

Braveheart Investment Group plc	Tel: [phone]
Trevor Brown CEO
Allenby Capital Limited (Nominated Adviser and Joint Broker)	Tel: [phone]
David Worlidge / James Reeve / George Payne
Peterhouse Capital Limited (Joint Broker)	Tel: [phone]
Duncan Vasey / Lucy Williams

 

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