Grant of Share Incentive Awards
Byotrol Plc
("Byotrol" or the "Company")
Grant of share incentive awards to Directors and senior managers
1. Establishment and operation of the Company's new Long Term Incentive Plan
Byotrol Plc (AIM: BYOT), the specialist infection prevention and control company, announces that, on 15 December 2022, it granted awards ("Awards") over 22,000,000 ordinary shares of 0.25 pence each in the capital of the Company ("Ordinary Shares") to Board Directors and senior leadership team pursuant to the terms of its newly established Long Term Incentive Plan (the "LTIP"), details of which are set out below:
|
Director |
Board Position |
Number of Ordinary Shares over which "Performance Awards" granted |
Number of Ordinary Shares over which "Retention Awards" granted |
Total number of Ordinary Shares over which Awards granted |
Number of Options over Ordinary Shares currently held |
Number of Options over Ordinary Shares Held by way of convertible notes |
Number of Ordinary Shares Currently Held |
|
David Traynor |
Exec Chairman |
2,000,000 |
2,000,000 |
4,000,000 |
5,360,000 |
1,538,461 |
9,935,297 |
|
Vivan Pinto |
CEO |
2,000,000 |
2,000,000 |
4,000,000 |
4,000,000 |
3,076,923 |
300,000 |
|
Christopher Sedwell |
CFO |
2,000,000 |
2,000,000 |
4,000,000 |
4,000,000 |
1,538,461 |
188,436 |
|
Sean Gogarty |
NED |
- |
2,000,000 |
2,000,000 |
4,000,000 |
3,076,923 |
- |
|
Trevor Francis |
NED |
- |
2,000,000 |
2,000,000 |
4,555,000 |
1,538,461 |
4,470,214 |
Options outstanding over Ordinary Shares following this award, including those detailed above, now total 37,179,650 which equates to 8.2% of issued share capital, well within the guidelines set out by the ABI and considered best practice.
The LTIP has been established in order to incentivise Executive Directors and certain senior managers to deliver long term value for shareholders, align their interests with the various stakeholders and retain these key individuals within the business. No consideration was paid for the grant of the Awards, which have been structured as "nil cost" options. All option awards will lapse if the employee leaves the business prior to vesting, save for standard, very limited 'Good Leaver' provisions.
16,000,000 of the 22,000,000 options being issued are being structured as Retention Awards, dependent solely on continued employment at date of vesting. 8,000,000 options will vest automatically at 18 months from grant and 8,000,000 at 36 months from grant, with an exercise price of 2.15 pence
The 6,000,000 Performance Awards detailed in the above table for Executive Directors only will normally vest on the third and fourth anniversary of grant, dependent on exceeding certain performance targets relating to Total Stock Return, Revenue or EBITDA. The exercise price of these options will be 0.25 pence.
Once the Awards have vested, they will generally be available to be exercised until the seventh anniversary of their original grant.
Further information in relation to the LTIP will be included in Byotrol's next annual report and financial statements.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
For further information contact:
|
Byotrol Plc |
|
|
David Traynor, Executive Chairman |
+44 (0)1925 742 000 |
|
Vivan Pinto, Chief Executive Chris Sedwell, Chief Financial Officer
|
|
|
|
|
|
finnCap Limited (Nominated Adviser and Broker) |
+44 (0)20 7220 0500 |
|
Geoff Nash / George Dollemore - Corporate Finance |
|
|
Nigel Birks / Harriet Ward - ECM |
|
|
|
|
|
Flagstaff Strategic and Investor Communications |
+44 (0)20 7129 1474 |
|
Tim Thompson/Andrea Seymour/Fergus Mellon
|
|
Notes to editors
Byotrol plc (BYOT.L), quoted on AIM, is a specialist infection prevention and control company, operating globally in the Healthcare, Industrial, Food and Consumer sectors, providing low toxicity products with a broad-based and targeted efficacy across all microbial classes; bacteria, viruses (including coronavirus), fungi, moulds, mycobacteria and algae.
Byotrol's products can be used stand-alone or as ingredients within existing products, where they can significantly improve their performance, especially in personal hygiene, domestic and industrial disinfection, odour control, food production and food management.
Byotrol develops and commercialises technologies that create easier, safer and cleaner lives for everyone.
For more information, go to byotrol.com
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