Starcom PLC Grant of options (6288J)

TIDMSTAR

RNS Number : 6288J

Starcom PLC

29 June 2017

29 June 2017

Starcom Plc

("Starcom" or "the Company")

Grant of options

Starcom (AIM: STAR), which specialises in the development of wireless solutions for the remote tracking, monitoring and protection of a variety of assets and people, is pleased to announce that options have been granted under the Starcom PLC 2016 Global Share Option Plan over a total of 16,093,680 Ordinary Shares (representing 8 per cent. of the Company's issued share capital) ("the Options") as follows:

 
 Grantee              Number of Options   Percentage of 
                                           issued share 
                                                capital 
-------------------  ------------------  -------------- 
 Avi Hartmann                 4,023,420               2 
-------------------  ------------------  -------------- 
 Avi Engel                    2,011,710               1 
-------------------  ------------------  -------------- 
 Michael Rosenberg            2,011,710               1 
-------------------  ------------------  -------------- 
 Uri Hartmann                 4,023,420               2 
-------------------  ------------------  -------------- 
 Doron Kedem                  4,023,420               2 
-------------------  ------------------  -------------- 
 

The options are exercisable at a price of 2.5p per share, representing a premium of approximately 54 per cent. to yesterday's mid market closing price of 1.625p per share. The options vest as to 50 per cent. one year after grant and, as to the balance, two years after grant. Any unexercised options expire at the end of 10 years from grant.

Related party transaction

The grant of the Options is a related party transaction under AIM Rule 13. Udi Shenig, the sole independent director, having consulted with the Company's Nominated Adviser, Northland Capital Partners Limited, considers that the terms of the grant of Options are fair and reasonable insofar as the Company's shareholders are concerned.

END

For further information, please contact:

 
 Starcom Plc 
 Michael Rosenberg, Chairman              07785 727 595 
                                          [phone] 
 Avi Hartmann, CEO                         [phone] 
 Northland Capital Partners Limited       020 3861 6625 
 Nominated Adviser and Broker 
 
  Edward Hutton / David Hignell 
  (Corporate Finance) 
 
  John Howes 
  (Sales and Broking) 
 Peterhouse Corporate Finance Limited 
  Joint Broker 
 
  Lucy Williams / Charles Goodfellow / 
  Eran Zucker                             020 7469 0930 
 Leander PR                               020 7520 9267 
  Financial PR                             07795 168 157 
  Christian Taylor-Wilkinson 
 

This announcement contains inside information. The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.

 
  1    Details of the persons discharging managerial responsibilities 
        I person closely associated 
---  ---------------------------------------------------------------------- 
 a)   Name                             1. Avi Hartmann 
                                        2. Avi Engel 
                                        3. Michael Rosenberg 
                                        4. Uri Hartmann 
                                        5. Doron Kedem 
---  --------------------------  ------------------------------------------ 
 2    Reason for the notification 
---  ---------------------------------------------------------------------- 
 a)   Position/status                  1. Chief Executive 
                                        2. Non-executive director 
                                        3. Non-executive Chairman 
                                        4. Chief Technical Officer 
                                        5. Chief Operating Officer 
---  --------------------------  ------------------------------------------ 
 b)   Initial notification             Initial notification 
       /Amendment 
---  --------------------------  ------------------------------------------ 
 3     Details of the issuer 
---  ---------------------------------------------------------------------- 
 a)   Name                             Starcom plc 
---  --------------------------  ------------------------------------------ 
 b)   LEI                              213800XVU7WF3QMF4826 
---  --------------------------  ------------------------------------------ 
 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          Options over Ordinary Shares of no par 
       financial instrument,       value 
       type of instrument 
---  --------------------------  ------------------------------------------ 
     Identification code          ISIN for Ordinary Shares: JE00B8WSDY21 
---  --------------------------  ------------------------------------------ 
 b)   Nature of the transaction   Grant of options 
---  --------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)       Option Price(s)   Volume(s) 
                                   ----------------  ------------------ 
                                                           1. 4,023,420 
                                   ----------------  ------------------ 
                                                           2. 2,011,710 
                                                     ------------------ 
                                                           3. 2,011,710 
                                                     ------------------ 
                                                           4. 4,023,420 
                                                     ------------------ 
                                         2.5p              5. 4,023,420 
                                   ----------------  ------------------ 
---  --------------------------  ------------------------------------------ 
 d)   Aggregated information 
       - Aggregated volume          *    Options over 16,093,680 shares 
       - Price 
 
                                    *    2.5p per share (exercise price) 
---  --------------------------  ------------------------------------------ 
 e)   Date of the transaction     29 June 2017 
---  --------------------------  ------------------------------------------ 
 f)   Place of the transaction    Outside a trading venue. 
                                   Shares issued on exercise of options 
                                   to be admitted to trading on AIM, London 
                                   Stock Exchange 
---  --------------------------  ------------------------------------------ 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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June 29, 2017 10:15 ET (14:15 GMT)