Grant of Options

RNS Number : 6036Q

PipeHawk PLC

28 October 2021

 

28 October 2021

PipeHawk plc

("PipeHawk", "Company" or the "Group")

Grant of options

The Company announces that on 18 March 2021, the Board approved the issue of 1,590,000 share options as part of the Group's existing strategy on key employee remuneration ("Options Scheme"). As part of the Options Scheme allocation, 750,000 share options were granted to Gordon Watt, Executive Chairman, 300,000 share options granted to Soumitra Padmanathan , Group Finance Director & Secretary and 200,000 share options granted to Randal MacDonnell, Non-Executive Director. The remaining 340,000 share options were granted to employees of the Group.

The options have an exercise price of 8 pence. The options are exercisable from 18 March 2024 to 18 March 2031.

Following the issue of the above options, Mr Watt, Ms Padmanathan and Mr MacDonnell will be interested in the following options:

Director			Number of options	Exercise price	Date from which exercisable
G G Watt			750,000	8.0p	18 Mar 2024
S P Padmanathan			200,000	3.9p	15 Nov 2019
S P Padmanathan			300,000	8.0p	18 Mar 2024
R MacDonnell			200,000	8.0p	18 Mar 2024

In addition to the above, in consideration of loans made to the Company, Mr Watt has warrants over 3,703,703 ordinary shares at an exercise price of 13.5p per share and warrants over a further 6,000,000 ordinary shares at an exercise price of 3.0p per share.

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	Gordon G Watt
2.	Reason for the Notification
a)	Position/status	Director - Chairman
b)	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	PipeHawk Plc
b)	LEI	213800CYT8OXEYWCNO29
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	Grant of options over o rdinary shares of 0.1p
	Identification code	ISIN: GB0003010609
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price of 8 pence per share 750,000
d)	Aggregated information: - Aggregated volume - Price	N/A
e)	Date of the transaction	18 March 2021
f)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Soumitra P Padmanathan
2.	Reason for the Notification
a)	Position/status	Director - Group Finance Director & Secretary
b)	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	PipeHawk Plc
b)	LEI	213800CYT8OXEYWCNO29
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	Grant of options over o rdinary shares of 0.1p
	Identification code	ISIN: GB0003010609
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price of 8 pence per share 300,000
d)	Aggregated information: - Aggregated volume - Price	N/A
e)	Date of the transaction	18 March 2021
f)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Randal MacDonnell
2.	Reason for the Notification
a)	Position/status	Non-Executive Director
b)	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	PipeHawk Plc
b)	LEI	213800CYT8OXEYWCNO29
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	Grant of options over o rdinary shares of 0.1p
	Identification code	ISIN: GB0003010609
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price of 8 pence per share 200,000
d)	Aggregated information: - Aggregated volume - Price	N/A
e)	Date of the transaction	18 March 2021
f)	Place of the transaction	Outside a trading venue

Enquiries:

PipeHawk Plc Gordon Watt (Chairman)	Tel. No. 01252 338 959
Allenby Capital (Nomad and Broker) David Worlidge/Vivek Bhardwaj	Tel. No. 020 3328 5656

Notes to Editors

For further information on the Company and its subsidiaries, please visit:  www.pipehawk.com

 

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