Valereum PLC Issue of Employee Share Options

RNS Number : 0906H

Valereum PLC

07 October 2024

 

 

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 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR")

 

07/10/2024

 

Valereum Plc

("Valereum" or the "Company")

 

Issue of Employee Share Options

To create alignment across the senior management team Valereum Plc announces that it has awarded share options ("Options") over a total of 4,510,000 ordinary shares to the Head of VLRM Markets and Head of VLRM Technology Verticals. The Options are tax-advantaged options that require a minimum holding period of 2 years from the date of being granted to qualify for the full tax advantages and are subject to a lock-in period of 1 year from the date of issue of the Options. They are exercisable at a cost of £0.001 per share, expire after 10 years and will be forfeited in the event the employees leave the Company.

The awards ensure the senior executive team are now in line (excluding the CEO and Chairman). We anticipate no further awards being made to existing team members outside of the approved annual remuneration scheme, as announced in May this year.

Chairman, James Formolli, commented:

"I firmly believe that as we ensure our team is fully motivated and incentivised to develop Valereum Plc, they must be in line with the interests of our shareholders. This alignment of goals will benefit all involved as we move forward together.

I'm excited about the rest of 2024 and what 2025 holds for Valereum Plc, as we continue building on momentum and execute our strategic vision".

For further information, please contact as follows:

Enquiries:   

Valereum Plc   

James Formolli, Chairman    

Tel: [phone]   

 

Stanford Capital Partners           

Bob Pountney

Patrick Claridge

Tel: [phone]

 

First Sentinel Corporate Finance

AQSE Corporate Adviser        

Brian Stockbridge    

Tel: [phone]  

 

 

The Directors of the Company accept responsibility for the contents of this announcement.

 

For more information, please visit the Company's website at  www.vlrm.com

 

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	1.   Adrian Hogg 2.   Daryl Mcfarlane
2.	Reason for the Notification
a)	Position/status	1.   Head of VLRM Markets 2.   Head of VLRM Technology Verticals
b)	Initial notification / Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Valereum Plc
b)	LEI	213800EJ8BFEQQ9POX79
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 0.1p each
	Identification Code	GI000A2P2W41
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price Volume 1.   £0.001 2.   £0.001 1.   2,510,000 2.   2,000,000
d)	Aggregated information: · Aggregated volume · Price	Single transaction, see details in item (c) above
e)	Date of the transaction	1.   01 October 2024 2.   01 October 2024
f)	Place of the Transaction	Outside a trading venue

 

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