Information  X 
Enter a valid email address

Falanx Group Limited (FLX)

  Print      Mail a friend

Wednesday 25 September, 2019

Falanx Group Limited

Grant of Share Options

RNS Number : 5368N
Falanx Group Limited
25 September 2019
 

25 September 2019

 

FALANX GROUP LIMITED

(the "Company")

 

Grant of share options

 

Falanx Group Limited (AIM: FLX), the global cyber security and intelligence services provider, announces that Mike Read, CEO, announces that it has today it awarded a total of 28,500,000 options (the "Options") over ordinary shares of nil par value each in the Company ("Ordinary Shares"). A total of 13,000,000 Options have been granted under the Company's existing Enterprise Management Incentive Scheme ("EMI Scheme") and 15,500,000 non-qualifying options have been awarded to certain directors  and non-qualifying employees of the Company (the "Non-qualifying Options"). A total of 10,000,000 of the Non-Qualifying Options have been awarded to the following directors:

 

Director

Number of Options granted

Total number of options over Ordinary Shares

Total number of options as a percentage of the Company's issued share capital

 

Mike Read (CEO)

5,000,000

         11,500,000

2.87%

Ian Selby (CFO)

5,000,000

11,500,000

2.87%

 

The Options have an exercise price of 1.925 pence per Ordinary Share (the "Exercise Price"), being the closing mid-market price on 24 September 2019, and will vest:

 

·      as to 9,405,000 Options (representing 33% of the total Options) immediately;

·      as to 9,405,000 Options (representing 33% of the total Options), provided that the share price of the Company exceeds 2.89 pence (50% share price growth over the Exercise Price) for a period of one calendar month; and

·      as to the balance of 9,690,000 Options (representing 34% of the total Options), provided that the share price of the Company exceeds 3.85 pence (100% growth over the Exercise Price) for a period of one calendar month.

 

Once vested the Options are exercisable between 1 April 2020 and 31 March 2030, subject to accelerated vesting and exercise in certain customary scenarios.

 

Enquiries:

Falanx Group Limited

Alex Hambro Chairman

Mike Read CEO

Ian Selby CFO

 

Via IFC

Stifel Nicolaus Europe Limited, Nomad and Joint Broker

Fred Walsh / Alex Price / Neil Shah

 

+ 44 (0) 207 710 7600

Turner Pope International Limited, Joint Broker

James Pope / Ben Turner

 

+44 (0) 203 621 4120

 

IFC Advisory Ltd

Financial PR & IR

Graham Herring / Miles Nolan / Zach Cohen

+44 (0) 203 934 663

 

About Falanx

Falanx Group Limited, is a global intelligence and cyber defence provider working with blue chip and government clients. For more information: http://www.falanx.com/

Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated ("PCA") with them.

  1

 

Details of the person discharging managerial responsibilities / person closely associated 

a)

 

Names 

Michael David Read

2

 

Reason for the notification

a)

 

Position/status

 

CEO

b)

 

Initial notification /Amendment

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 

a)

 

Name

 

Falanx Group Limited

b)

 

LEI

 213800YO4F9CUQLALV19

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

 

Ordinary Shares of nil par value

b)

Identification code 

 

VGG3338A1075

c)

 

Nature of the transaction 

 

Grant of options over Ordinary Shares

d)

 

Price(s) and volume(s)

Volume(s):

5,000,000 Ordinary Shares

Price: 1.925 pence per Ordinary Share

d)

 

Aggregated information 

- Aggregated volume

- Price

N/A

 

e)

 

Date of the transactions 

25 September 2019

f)

 

Place of the transaction

Outside a trading venue

 

  1

 

Details of the person discharging managerial responsibilities / person closely associated 

a)

 

Names 

Ian Selby

2

 

Reason for the notification

a)

 

Position/status

 

CFO

b)

 

Initial notification /Amendment

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 

a)

 

Name

 

Falanx Group Limited

b)

 

LEI

 213800YO4F9CUQLALV19

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

 

Ordinary Shares of nil par value

b)

Identification code 

 

VGG3338A1075

c)

 

Nature of the transaction 

 

Grant of options over Ordinary Shares

d)

 

Price(s) and volume(s)

Volume(s):

5,000,000 Ordinary Shares

Price: 1.925 pence per Ordinary Share

d)

 

Aggregated information 

- Aggregated volume

- Price

N/A

 

e)

 

Date of the transactions 

24 September 2019

f)

 

Place of the transaction

Outside a trading venue

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
DSHCKQDQOBKDOCB

a d v e r t i s e m e n t