Falanx Group Limited Grant of Share Options (9200H)

TIDMFLX

RNS Number : 9200H

Falanx Group Limited

16 March 2018

Falanx Group Limited

("Falanx" or "the Company")

Grant of Share Options

Falanx Group Ltd announces the grant of 15,000,000 share options to the Directors and 9,150,000 share options to other management and employees (together the "Share Options").

The Company considers it important to incentivise employees and Directors through share incentive arrangements and to align them with shareholders to create long term value.

Options under this plan are granted with a strike price of 5p each, this is approximately 11% higher than the mid-market closing price of 4.5p on 15 March 2018. The option scheme is structured so that there are only returns for participants where the share price has very significantly increased from the current levels. Individual Director grants are set out below:

Individual Director Option Grants

 
                 Current Share   New Grant   Enlarged Share 
                    Options                      Options 
--------------  --------------  ----------  --------------- 
 Mike Read             -         5,000,000     5,000,000 
--------------  --------------  ----------  --------------- 
 Ian Selby             -         5,000,000     5,000,000 
--------------  --------------  ----------  --------------- 
 John Blamire       500,000      4,500,000     5,000,000 
--------------  --------------  ----------  --------------- 
 Emma Shaw          750,000       500,000      1,250,000 
--------------  --------------  ----------  --------------- 
 

Vesting Criteria

These options vest in three tranches: the first tranche when the share price reaches 7.5p (25%), the second tranche when the share price reaches 10p (25%) and the third tranche when the share price reaches 12.5p (50%). The Share Options only vest if the average share price has reached the relevant threshold level for a period of three months, save for the event of a change of control in the Company, in which case they will vest in full. Based on the mid-market closing price of 4.5p, there is no gain at all unless the share price increases by 66% and full gains are not achieved until a gain of 178% has been achieved.

A further option grant is planned soon for staff in the recently acquired First Base business.

Executive Directors are issued share options under the EMI Scheme and Non-Executive Directors and (any other ineligible participants) under an unapproved scheme, which has the same rules as the EMI Scheme but without the relevant tax concessions. The Share Options have an exercise period of 10 years from grant under the rules of the EMI Scheme.

The above grant of 24,150,000 options represents approximately 9% of the share capital following the admission of the shares announced on 6 March 2018.

 
 
  Falanx Group Limited               www.falanx.com 
   Mike Read, Chairman and 
   CEO 
   John Blamire, COO 
   Ian Selby, CFO 
 ---------------------------------  ---------------------- 
  SPARK Advisory Partners 
  Limited 
  Nominated Adviser 
  Matt Davis / James Keeshan         [phone] 
 
  Turner Pope Investments 
   (TPI) Ltd 
   Broker 
   Andy Thacker 
 
   IFC Advisory Ltd                  [phone] 
   Financial PR & IR 
   Graham Herring 
   Miles Nolan 
   Zach Cohen                        [phone] 
 
 

Falanx Group Limited, is a global intelligence and cyber defence provider working with blue chip and government clients. The Group listed on AIM in June 2013 under ticker FLX For more information: http://www.falanx.com/

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

 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------- 
 a)   Name                    1. Mike Read 
                               2. Ian Selby 
                               3. John Blamire 
                               4. Emma Shaw 
---  -----------------  ------------------------------------ 
 2    Reason for the notification 
---  ------------------------------------------------------- 
 a)   Position/status    Directors and PDMRs of the Company 
---  -----------------  ------------------------------------ 
 b)   Initial            Initial notification 
       notification 
       /Amendment 
---  -----------------  ------------------------------------ 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------- 
 a)   Name               Falanx Group Limited 
---  -----------------  ------------------------------------ 
 b)   LEI                213800YO4F9CUQLALV19 
---  -----------------  ------------------------------------ 
 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        Options over Ordinary Shares 
       of the 
       financial 
       instrument,        ISIN: VGG3338A1075 
       type of 
       instrument 
       Identification 
       code 
---  -----------------  ------------------------------------ 
 b)   Nature             Grant of nil-cost options 
       of the 
       transaction 
---  -----------------  ------------------------------------ 
 c)   Price(s)                  Price:               Volume 
       and volume(s)                5p 
                                --------  ------------------ 
                                                1. 5,000,000 
                                --------  ------------------ 
                                                2. 5,000,000 
                                          ------------------ 
                                                3. 4,500,000 
                                          ------------------ 
                                                4. 500,000 
                                --------  ------------------ 
 
 
                                5. 
---  -----------------  ------------------------------------ 
 d)   Aggregated         - volume: 15,000,000 
       information        - Price: 5p 
---  -----------------  ------------------------------------ 
 e)   Date of            15 March 20018 
       the transaction 
---  -----------------  ------------------------------------ 
 f)   Place              Not on a trading venue 
       of the 
       transaction 
---  -----------------  ------------------------------------ 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 16, 2018 03:00 ET (07:00 GMT)