Grant of Options

RNS Number : 9954H
React Group PLC
09 December 2020
 

9 December 2020

 

REACT Group Plc

 

("REACT" or the "Company")

 

Grant of Options

 

REACT (AIM: REAT.L), the leading specialist cleaning, hygiene, and decontamination company, announces the grant of options over new ordinary shares of 0.25p each in the Company ("Options").

 

A total of 11,900,000 Options have been awarded to Mark Braund, Executive Chairman, and Andrea Pankhurst, Chief Financial Officer, under the Company's Enterprise Management Incentive ("EMI") share option plan.

 

Name of Director

Number of Options granted

Total number of Options and Warrants over Ordinary Shares now held

 

Mark Braund

8,500,000

28,439,537

Andrea Pankhurst

3,400,000

5,477,038

 

The Options have an exercise price of 0.25p per Ordinary Share (equivalent to the nominal value of an ordinary share) and, once vested, are exercisable from the date two years after the date of grant up to the date ten years after the date of grant, subject to the performance conditions set out below.

 

The Options vest subject to performance conditions whereby the average mid-market closing share price of the Company's Ordinary Shares in any consecutive ten-day period until 17 May 2024 remains above the defined levels, as follows:

 

% of total vesting

Share price

 

20%

Over 2 pence

40%

Over 2.4 pence

40%

Over 2.8 pence

 

The Options granted represent 2.4 per cent of the Company's current issued share capital. In total 65,001,412 Options and warrants are now outstanding, representing 13.0 per cent of the Company's current issued share capital.

 

Further details and the information required in accordance with the requirements of EU Market Abuse Regulation No 596/2014 are set out at the end of this announcement.

 

For more information:

 

REACT Group plc


Shaun Doak, Chief Executive Officer

Andrea Pankhurst, Chief Financial Officer

 

via Allenby Capital

Tel: +44 (0) 203 328 5656

Allenby Capital Limited

(Nominated Adviser and Broker)


Nick Athanas / Liz Kirchner (Corporate Finance)

Amrit Nahal / Tony Quirke (Sales & Corporate Broking)

 

Tel: +44 (0) 203 328 5656

 

 

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

PDMRs:

Mark Braund

Executive Chairman

Andrea Pankhurst

CFO

 

 

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

REACT Group Plc

 

b)

LEI

213800H54C4GOFN7MO32

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

Options over ordinary shares of 0.25p each in REACT Group Plc

Identification code (ISIN) for REACT Group Plc ordinary shares: GB00BZ2JBG28

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Name

 Price(s)

Volume(s)

Mark Braund

0.25 pence

8,500,000

Andrea Pankhurst

0.25 pence

3,400,000

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transactions

9 December 2020

 

f)

Place of the transaction

Outside a trading venue

 

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