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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Gfinity Plc | LSE:GFIN | London | Ordinary Share | GB00BT9QD572 | ORD 0.01P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.005 | -14.29% | 0.03 | 0.025 | 0.035 | 0.035 | 0.0275 | 0.035 | 23,951,211 | 15:02:21 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Amusement & Rec Svcs, Nec | 2.19M | -10.26M | -0.0030 | -0.10 | 1.02M |
TIDMGFIN
RNS Number : 8920E
Gfinity PLC
21 July 2016
Gfinity plc
("Gfinity" or "the Company")
Grant of Share Options
Gfinity (AIM: GFIN), a leading eSports business, announces that its remuneration committee has today awarded a total of 9,145,670 options over ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") to certain Directors, employees and partners (the "Options"). These Options were granted under the Company's EMI scheme ("EMI Scheme") and unapproved share option scheme ("Non-EMI Scheme").
The Company's remuneration committee has decided to issue the Options in order to incentivise the executive management team in view of the next phase of the Group's development in light of its recent fundraising.
The Options are exercisable at the closing mid-market price of Ordinary Shares at 20 July 2016, being 11.875 pence per Ordinary Share (the "Exercise Price").
The Options are exercisable in the following circumstances:
-- 50 per cent. after a minimum period of two years and subject to the closing mid-market price of Ordinary Shares having exceeded 150% of the Exercise Price for a minimum period of 30 consecutive business days; and
-- 50 per cent. after a minimum period of three years and subject to the closing mid-market price of Ordinary Shares having exceeded 200% of the Exercise Price for a minimum period of 30 consecutive business days.
The Options expire on 21 July 2026 if not exercised.
The Directors that have been awarded Options are as follows:
Director Position Number of Total options Options held following granted the grant Neville Upton Chief Executive 7,870,670 7,870,670 Jonathan Hall Finance Director 500,000 1,548,571 Philip Shuldham-Legh Marketing Director 100,000 643,000 Technology and Paul Kent eSports Director 100,000 200,000
All the above Options were granted under the EMI Scheme, save for 5,765,407 of Neville Upton's Options, which were granted under the Non-EMI Scheme.In aggregate, the 8,570,670 Options granted to the Directors represent approximately 5.44 per cent. of the current issued share capital of the Company.
In addition, a further 275,000 Options were awarded to certain employees of the Company, as well as 300,000 Options awarded to a contractor to the Company, all on the same terms as above.
Following the grant of the Options, the total number of Ordinary Shares outstanding under option arrangements is 13,966,711, representing 8.87 per cent. of the Company's issued share capital.
Enquiries:
Gfinity plc www.gfinityplc.com Neville Upton, Chief Executive Via Walbrook PR Officer Allenby Capital Limited Tel. +44 (0)20 3328 5656 (Nominated Adviser & Broker) Jeremy Porter / John Depasquale / James Thomas Walbrook PR (PR advisers) Tel: +44 (0)20 7933 8780 or gfinity@walbrookpr.com Paul McManus / Paul Cornelius Mob: 07980 541 893 / 07866 / Sam Allen 384 707 / 07884 664 686
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHSEWFDFFMSESW
(END) Dow Jones Newswires
July 21, 2016 09:10 ET (13:10 GMT)
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