Albert Technologies Ltd Grant of Options (5284F)

TIDMALB

RNS Number : 5284F

Albert Technologies Ltd

29 October 2018

 
   29 October 2018 
 

Albert Technologies Ltd.

("Albert Technologies" or the "Company")

Grant of Options to Directors

Albert Technologies (AIM: ALB) announces that, it has conditionally granted options over ordinary shares of NIS 0.1 in the Company ("Options") to a number of board directors. Under Israeli Law, the grant of options to board directors requires the ratification of shareholders. As such a circular including a Notice of General Meeting will be posted to shareholders and a further announcement made in due course. The Options have been conditionally granted as follows:

Yoram Freund, Chief Financial Officer of the Company, has been granted Options to purchase up to 202,747 ordinary shares at an exercise price of 26p per share, based on the average closing price of the Ordinary Shares during the 30 trading day period up to and including 17 October 2018, the date immediately prior to grant. The options vest over four years, 50% on 1 August 2020, 25% on 1 August 2021 and 25% on 1 August 2022, and will be fully vested on 1 August 2022.

Lisa Gordon, Chairman of the Company, has been granted Options to purchase up to 56,250 ordinary shares at an exercise price equal to 20p, being the closing price of ordinary shares on 17 October 2018, the date immediately prior to grant. The Options vest over three years, one-third upon each anniversary from 6 September 2018 - the date of our Annual General Meeting, and will be fully vested on 6 September 2021.

Robert Norman, Non-executive Director of the Company, has been granted Options to purchase up to 30,000 ordinary shares at an exercise price equal to 20p, being the closing price of ordinary shares on 17 October 2018, the date immediately prior to grant. The options vest over three years, one-third upon each anniversary from 1 April 2018 - the date Robert engaged with the Company for advising the Board, and will be fully vested on 1 April 2021.

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail.

 
 Albert Technologies Ltd 
 Or Shani, Chief Executive Officer         Tel: [phone] 
  Yoram Freund, Chief Financial Officer 
 Cantor Fitzgerald Europe 
 Marc Milmo 
  Catherine Leftley                        [phone] 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                     Company Director/PDMR 
                                Lisa Gordon     Chairman 
                                               ------------------------ 
                                Robert Norman   Non-executive Director 
                                               ------------------------ 
                                Yoram Freund    Chief Financial Officer 
                                               ------------------------ 
     ---------------------  ------------------------------------------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------------------------- 
 a)   Position/status        See 1 (a) above for all positions, all classified 
                              as PDMRs of the Company 
     ---------------------  ------------------------------------------------------------------ 
      Initial notification   Initial notification 
       /Amendment 
     ---------------------  ------------------------------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------------------------- 
 a)   Name                   Albert Technologies Limited 
     ---------------------  ------------------------------------------------------------------ 
 b)   LEI                    213800AL8MDWHCB8W888 
     ---------------------  ------------------------------------------------------------------ 
 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            Ordinary Shares of NIS 0.1 
       of the financial 
       instrument, 
       type of instrument 
 
      Identification         ISIN: IL0011354904/ALB 
       code 
 
 b)   Nature of the                     Conditional grant of share options over ordinary 
       transaction                       shares 
     ---------------------  ------------------------------------------------------------------ 
 c)   Price(s) and             Exercise price: 94p per Ordinary 
       volume(s)                Share 
 
                                Volumes: NAME             VOLUME    EXERCISE 
                                                             PRICE 
                                 Lisa Gordon      56,250    20p 
                                                 --------  --------- 
                                 Robert Norman    30,000    20p 
                                                 --------  --------- 
                                 Yoram Freund     202,747   26p 
                                                 --------  --------- 
                              ------------------------------------------------------------ 
 
 d)   Aggregated             n/a 
       information 
 
      - Aggregated 
       volume 
 
      - Price 
 
 e)   Date of the            18 October 2018 
       transaction 
     ---------------------  ------------------------------------------------------------------ 
 f)   Place of the           Off market 
       transaction 
     ---------------------  ------------------------------------------------------------------ 
 

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October 29, 2018 06:23 ET (10:23 GMT)