Issue of Options and PDMR dealing
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. It forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
8 March 2022
Insig AI plc
("Insig AI" or the "Company")
Issue of Options and PDMR dealing
Insig AI plc (AIM: INSG), the data science and machine learning group, has agreed to issue Colm McVeigh, Chief Commercial Officer and a director of Insig AI and certain employees with options over a total of 3,350,000 ordinary shares of 1 pence each in the capital of the Company (together, the "Options") with an exercise price of 48 pence (the "Exercise Price"). The Exercise Price represents a substantial premium of approximately 75% to the Company's closing share price of 27.5 pence on 7 March 2022. Due to the substantial premium of the Exercise Price, there are no financial performance metrics attached to the Options. The vesting of the Options is conditional on the continued employment of the option holder which also lapse should the option holder no longer be employed by the Company. A schedule of the Options granted is set out below:
|
|
Number of Options |
Vesting period |
|
Colm McVeigh (PDMR) |
2,000,000 |
4 October 2024 - 7 March 2032 |
|
|
|
|
|
Other employees |
900,000 |
4 August 2024 - 7 March 2032 |
|
Other employees |
150,000 |
4 January 2025 - 7 March 2032 |
|
Other employees |
300,000 |
4 March 2025 - 7 March 2032 |
The granting of the Options to Colm McVeigh follows his appointment announcement on 10 November 2021.
For further information, please visit
www.insg.ai
or contact:
|
Insig AI plc Steve Cracknell (CEO) |
Via SEC Newgate
|
|
Zeus Capital Limited (Nominated Adviser & Broker) David Foreman / James Hornigold / Danny Philips
|
+44 (0) 20 3829 5000 |
SEC Newgate (Financial PR) +44 (0) 7540 106 366
Robin Tozer / Richard Bicknell insigai@secnewgate.co.uk
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: |
Colm McVeigh |
||||
2. |
Reason for the notification |
|||||
|
a) |
Position/status: |
Director |
||||
|
b) |
Initial notification/Amendment: |
Initial notification |
||||
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name: |
Insig AI Plc |
||||
|
b) |
LEI: |
21380098CKBAG1NWCD98 |
||||
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 1 pence GB00BYV31355 |
||||
|
b) |
Nature of the transaction: |
Grant of options over ordinary shares |
||||
|
c) |
Price(s) and volume(s): |
|
||||
|
d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
|
||||
|
e) |
Date of the transaction: |
7 March 2022
|
||||
|
f) |
Place of the transaction: |
Off-market |
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