Tekcapital plc Grant of Options (7260C)

TIDMTEK

RNS Number : 7260C

Tekcapital plc

30 June 2016

30 June 2016

Tekcapital plc

("Tekcapital" or "the Company")

Grant of Share Options

The Board of Tekcapital plc (AIM: TEK), an international provider of technology and intellectual property services, announces the grant of 700,000 options to subscribe for new ordinary shares of 0.4 pence each in the Company ("Ordinary Shares") (the "Options").

The Options were granted on 29 June 2016 (the "Grant Date") under the Company's EMI Share Option Scheme ("EMI") and Unapproved Share Option Plan ("Non-EMI"). 400,000 of these Options have been issued to certain directors, with the balance issued to employees and other recently engaged Vortechs Group associates to the Company.

The Options have an exercise price of 37.5p per share, being the closing mid-market price of Ordinary Shares on 28 June 2016. The Options granted to directors and employees vest over a three year period in equal tranches from the Grant Date, but vest immediately if the mid-market price of Ordinary Shares is maintained at or above GBP1.00 for ten consecutive trading days. The Options granted to Vortechs Group associates vest on meeting certain financial targets over three years. All of the Options will expire on the fifth anniversary of the Grant Date.

Following the grant of the Options the total number of options outstanding to subscribe for new ordinary shares in the Company is 3,210,000, representing 9.06% of the Company's current issued share capital.

The Options issued to directors are detailed below:

 
 Name                    Current        Number    Option   Total number       Percentage 
                          number    of Options      Type     of Options       of current 
                      of options       granted                 now held           issued 
                            held                                           share capital 
------------------  ------------  ------------  --------  -------------  --------------- 
 Malcolm 
  Groat                  200,000       100,000       EMI        300,000            0.85% 
------------------  ------------  ------------  --------  -------------  --------------- 
 Robert 
  Miller                 120,000       100,000   Non-EMI        220,000            0.62% 
------------------  ------------  ------------  --------  -------------  --------------- 
 Bill Payne              195,000       100,000   Non-EMI        295,000            0.83% 
------------------  ------------  ------------  --------  -------------  --------------- 
 Susan Greenfield        150,000       100,000   Non-EMI        250,000            0.71% 
------------------  ------------  ------------  --------  -------------  --------------- 
 Total                   665,000       400,000                1,065,000            3.01% 
------------------  ------------  ------------  --------  -------------  --------------- 
 

For further information please contact:

 
                                       [phone] 
 Tekcapital Plc                         Ext 305 
 Clifford M. Gross                     [e-mail] 
 
 Allenby Capital Limited (Nominated 
  Adviser & Joint Broker)              [phone] 
 Jeremy Porter / Alex Brearley 
  / Richard A Short 
 
 Optiva Securities Limited (Joint      [phone] 
  Broker)                               1904 
 Jeremy King / Vishal Balasingham      [e-mail] 
 
                                       [phone] 
 Walbrook PR Ltd                        1000 
 Paul Cornelius / Paul McManus 
  / Helen Cresswell                    [e-mail] 
 

Tekcapital plc - The World's Largest University Network for Open Innovation

Tekcapital helps clients profit from new, university-developed intellectual properties. With our proprietary discovery search engine, linked to 4,000+ universities in 160 countries, coupled with expert scientific review, we provide a turn-key service to make it easy for clients to find and acquire the IP, analytics and technology transfer professionals they need to create a competitive advantage. Tekcapital plc is listed on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in Oxford, in the UK. For more information, please visit www.tekcapital.com

This information is provided by RNS

The company news service from the London Stock Exchange

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June 30, 2016 02:30 ET (06:30 GMT)