Braveheart Investment Group plc Grant of options (2333U)

TIDMBRH

RNS Number : 2333U

Braveheart Investment Group plc

27 March 2023

27 March 2023

Braveheart Investment Group plc

("Braveheart" or the "Company")

Grant of options

Braveheart Investment Group (AIM: BRH), announces that, on 24 March 2023, the Company granted options over a total of 2,950,000 ordinary shares of 2p each in the Company ("Ordinary Shares") to the Directors and a service provider to the Company (the "Options"). The Options have been granted pursuant to the Company's share option plan adopted on 16 December 2020.

In order to be eligible to receive new EMI options, Vivian Hallam, Executive Director, has, on 24 March 2023, surrendered 523,808 EMI options previously granted to him on 14 October 2021 and that had an exercise price of 31.5p.

In aggregate, 2,900,000 Options have been granted to Directors of the Company, as follows:

 
 Name                                                                           Resultant        Percentage 
                         No. options                                              holding    of the current 
                       over Ordinary                         No. options       of options      issued share 
                   Shares previously   No. Options         over Ordinary    over Ordinary           capital 
                                held       granted    Shares surrendered      Shares held    of the Company 
 Trevor Brown              1,500,000     1,250,000                     -        2,750,000               4.3 
                 -------------------  ------------  --------------------  ---------------  ---------------- 
 Vivian Hallam             2,500,000     1,250,000               523,808        3,226,192               5.1 
                 -------------------  ------------  --------------------  ---------------  ---------------- 
 Susan Hagan                  50,000       200,000                     -          250,000               0.4 
                 -------------------  ------------  --------------------  ---------------  ---------------- 
 Qu Li                             0       200,000                     -          200,000               0.3 
                 -------------------  ------------  --------------------  ---------------  ---------------- 
 

The Options granted to Vivian Hallam are EMI options and the Options granted to Trevor Brown, Susan Hagan and Qu Li are unapproved options. The exercise price of the Options is 7.75p, being the closing mid-market price of an Ordinary Share on 24 March 2023, the date of grant. The Options will vest from 27 March 2024 and be exercisable up to 27 March 2033, subject to continued employment. The Options granted to Trevor Brown and Vivian Hallam, as Executive Directors of the Company, have an additional performance related vesting criteria that the closing mid-market price of an Ordinary Share must exceed 9.6875p (being a 25% premium to the Option exercise price) for 10 business days out of a consecutive 30 business day period.

Following the grant of the Options and surrender of historic options held by Viv Hallam, the Company now has options outstanding over a total of 7,022,192 Ordinary Shares, equivalent to 11.0% of the Company's current issued share capital.

Further details of the Options can be found in the Notification of Dealing Form below.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
     ----------------------------------------------------------------------- 
 a)   Name                           Trevor Brown    Chief Executive 
                                                       Officer 
                                      Vivian Hallam   Executive Director 
                                                     ----------------------- 
                                      Susan Hagan     Non-Executive Director 
                                                     ----------------------- 
                                      Qu Li           Non-Executive Director 
                                                     ----------------------- 
     ---------------------------  ------------------------------------------ 
      Reason for the notification 
  2 
     ----------------------------------------------------------------------- 
 a)   Position/status              See 1a) above 
     ---------------------------  ------------------------------------------ 
 b)   Initial notification         Initial Notification 
       /Amendment 
     ---------------------------  ------------------------------------------ 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                         Braveheart Investment Group plc 
     ---------------------------  ------------------------------------------ 
 b)   LEI                          2138006HQ3COMU626I61 
     ---------------------------  ------------------------------------------ 
      Details of the transaction(s): section to be repeated 
  4    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           Ordinary shares of 2 pence each in 
       financial instrument,        Braveheart Investment Group plc 
       type of instrument 
 
       Identification code          GB00B13XV322 
     ---------------------------  ------------------------------------------ 
 b)   Nature of the transactions   Grant of options over ordinary shares 
     ---------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)       Price: Exercise price of 7.75p per 
                                    option 
                                     Trevor Brown     1,250,000 
                                     Vivian Hallam    1,250,000 
                                                     ---------- 
                                     Susan Hagan      200,000 
                                                     ---------- 
                                     Qu Li            200,000 
                                                     ---------- 
     ---------------------------  ------------------------------------------ 
 d)   Aggregated information       N/A 
       - Aggregated volume 
       - Price 
       - Principal amount 
     ---------------------------  ------------------------------------------ 
 e)   Dates of the transaction     24 March 2023 
 
 f)   Place of transaction         Outside a trading venue 
     ---------------------------  ------------------------------------------ 
 

For further information:

 
 
 Braveheart Investment Group plc         Tel: 01738 
                                          587555 
 Trevor Brown CEO 
 
 Allenby Capital Limited (Nominated      Tel: 020 
  Adviser and Joint Broker)               3328 5656 
 David Worlidge / James Reeve / George 
  Payne 
 
 Peterhouse Capital Limited (Joint       Tel: 020 
  Broker)                                 7469 0936 
 Duncan Vasey / Lucy Williams 
 

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March 27, 2023 02:00 ET (06:00 GMT)