Falanx Group Limited Grant of Share Options (5368N)

TIDMFLX

RNS Number : 5368N

Falanx Group Limited

25 September 2019

25 September 2019

FALANX GROUP LIMITED

(the "Company")

Grant of share options

Falanx Group Limited (AIM: FLX), the global cyber security and intelligence services provider, announces that Mike Read, CEO, announces that it has today it awarded a total of 28,500,000 options (the "Options") over ordinary shares of nil par value each in the Company ("Ordinary Shares"). A total of 13,000,000 Options have been granted under the Company's existing Enterprise Management Incentive Scheme ("EMI Scheme") and 15,500,000 non-qualifying options have been awarded to certain directors and non-qualifying employees of the Company (the "Non-qualifying Options"). A total of 10,000,000 of the Non-Qualifying Options have been awarded to the following directors:

 
 Director           Number of Options   Total number         Total number 
                     granted             of options over      of options as 
                                         Ordinary Shares      a percentage 
                                                              of the Company's 
                                                              issued share 
                                                              capital 
 Mike Read (CEO)        5,000,000               11,500,000         2.87% 
 Ian Selby (CFO)        5,000,000           11,500,000             2.87% 
 

The Options have an exercise price of 1.925 pence per Ordinary Share (the "Exercise Price"), being the closing mid-market price on 24 September 2019, and will vest:

   --      as to 9,405,000 Options (representing 33% of the total Options) immediately; 

-- as to 9,405,000 Options (representing 33% of the total Options), provided that the share price of the Company exceeds 2.89 pence (50% share price growth over the Exercise Price) for a period of one calendar month; and

-- as to the balance of 9,690,000 Options (representing 34% of the total Options), provided that the share price of the Company exceeds 3.85 pence (100% growth over the Exercise Price) for a period of one calendar month.

Once vested the Options are exercisable between 1 April 2020 and 31 March 2030, subject to accelerated vesting and exercise in certain customary scenarios.

Enquiries:

 
 Falanx Group Limited                    Via IFC 
  Alex Hambro Chairman 
  Mike Read CEO 
  Ian Selby CFO 
 Stifel Nicolaus Europe Limited, 
  Nomad and Joint Broker 
  Fred Walsh / Alex Price / Neil Shah    + 44 (0) 207 710 7600 
 Turner Pope International Limited, 
  Joint Broker 
  James Pope / Ben Turner                [phone] 
 IFC Advisory Ltd 
  Financial PR & IR 
  Graham Herring / Miles Nolan / Zach 
  Cohen                                  [phone] 
 

About Falanx

Falanx Group Limited, is a global intelligence and cyber defence provider working with blue chip and government clients. For more information: http://www.falanx.com/

Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated ("PCA") with them.

 
  1   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Names                       Michael David Read 
     --------------------------  --------------------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------------- 
 a)   Position/status             CEO 
     --------------------------  --------------------------------------- 
 b)   Initial notification        Initial 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 of              Ordinary Shares of nil par value 
       the financial 
       instrument, type 
       of instrument 
     --------------------------  --------------------------------------- 
 b)   Identification              VGG3338A1075 
       code 
     --------------------------  --------------------------------------- 
 c)   Nature of the               Grant of options over Ordinary Shares 
       transaction 
     --------------------------  --------------------------------------- 
 d)   Price(s) and volume(s)      Volume(s): 
                                   5,000,000 Ordinary Shares 
                                   Price: 1.925 pence per Ordinary Share 
     --------------------------  --------------------------------------- 
 d)   Aggregated information      N/A 
       - Aggregated volume 
       - Price 
     --------------------------  --------------------------------------- 
 e)   Date of the transactions    25 September 2019 
     --------------------------  --------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  --------------------------------------- 
 
 
  1   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Names                       Ian Selby 
     --------------------------  --------------------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------------- 
 a)   Position/status             CFO 
     --------------------------  --------------------------------------- 
 b)   Initial notification        Initial 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 of              Ordinary Shares of nil par value 
       the financial 
       instrument, type 
       of instrument 
     --------------------------  --------------------------------------- 
 b)   Identification              VGG3338A1075 
       code 
     --------------------------  --------------------------------------- 
 c)   Nature of the               Grant of options over Ordinary Shares 
       transaction 
     --------------------------  --------------------------------------- 
 d)   Price(s) and volume(s)      Volume(s): 
                                   5,000,000 Ordinary Shares 
                                   Price: 1.925 pence per Ordinary Share 
     --------------------------  --------------------------------------- 
 d)   Aggregated information      N/A 
       - Aggregated volume 
       - Price 
     --------------------------  --------------------------------------- 
 e)   Date of the transactions    24 September 2019 
     --------------------------  --------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  --------------------------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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September 25, 2019 02:30 ET (06:30 GMT)