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IX. I(x) Net Zero Plc

19.25
0.00 (0.00%)
22 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
I(x) Net Zero Plc LSE:IX. London Ordinary Share JE00BP4DVJ57 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 19.25 18.50 20.00 19.50 19.25 19.25 0.00 08:00:12
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Investors, Nec 1.42M -18.13M -0.2111 -0.91 16.53M

i(x) Net Zero PLC Management incentivisation

14/02/2024 4:53pm

RNS Regulatory News


RNS Number : 1792D
i(x) Net Zero PLC
14 February 2024
 

 

14 February 2024

i(x) Net Zero PLC

 

("i(x) Net Zero" or the "Company")

 

Management incentivisation

 

i(x) Net Zero PLC (AIM: IX.), the investing company which focuses on Energy Transition and Sustainability in the Built Environment, announces that it has agreed the following annual bonus arrangements for the executive directors of the Company.

 

In order to preserve the Company's cash resources and to demonstrate his commitment to the Company, Mr Lindström has agreed to apply his annual bonus to subscribe for new ordinary shares in the Company ("Ordinary Shares") at yesterday's closing price of 21p per Ordinary Share.  As a result, Pär Lindström will receive 1,550,293 new Ordinary Shares in the Company ("2023 Bonus Shares").   The award of the 2023 Bonus shares is in substitution of the total annual bonus of $410,000 in respect of the financial year ended 31 December 2023, an amount which equates to 100% of his base salary for the year.

 

Following issuance of the 2023 Bonus Shares, the Company will have 87,427,722 Ordinary Shares in issue. The 2023 Bonus Shares represent 1.8% of the enlarged issued share capital. 

 

To further preserve cash resources, Jonathan Stearns has agreed to accept a grant of share options in lieu of a cash bonus. Accordingly, Mr Stearns will receive an option grant equivalent to 80% of his 2023 salary of $350,000, an option amount that has been pro-rated for the 8 months he was employed during 2023, equating to 1,058,737 share options. The share options are fully vested and have an exercise price of 21 pence.

 

Following the new grant of the Options, the Company has a total of 6,592,714 options to subscribe for new Ordinary Shares outstanding, which represents 7.7% of the Company's current issued share capital at the date of this announcement (and prior to the issue of the shares referred to below).

 

Following the issue of the 2023 Bonus shares, Mr Lindström will hold 11,153,223 Ordinary shares, representing 12.8% of shares in issue following the issue of the 2023 Bonus Shares.  In addition, Mr Lindström will hold options over 3,083,216 Ordinary Shares.

 

Application has been made to the London Stock Exchange for the 2023 Bonus Shares to be admitted to trading on AIM ("Admission"). Admission is expected to become effective at 8.00 am on or around 20 February 2024.

 

 

- Ends -

 

 

For further information visit https://ixnetzero.com/ or contact:

i(x) Net Zero

Via Buchanan below

Pär Lindström - Chief Executive Officer

 

Jonathan Stearns - Chief Financial Officer

 



Canaccord Genuity Limited

Nominated Adviser & Broker

+44 20 7523 8000

Max Hartley


Harry Pardoe




Buchanan


Helen Tarbet

+44 7872 604 453

Simon Compton

+44 7979 497 324

Abby Gilchrist

+44 7557 952 223

 

 

Notes to Editors

 

About i(x) Net Zero PLC

 

i(x) Net Zero PLC is an AIM quoted investing company that provides its shareholders the opportunity to create long-term capital growth with positive, scalable, measurable and sustainable impact on the environment and on the communities it serves.

 

In accordance with its belief that the world's biggest problems are also the biggest market opportunities, i(x) Net Zero focuses on two critical areas in which it aims to make a positive impact: (i) Energy Transition and (ii) Sustainability in the Built Environment. The Company uses a multi-strategy investment approach, providing the companies in which it invests with the expertise and catalytic capital to help them grow. To date, i(x) Net Zero has invested in biofuels, direct air capture (carbon removal), renewable energy, sustainable workforce housing and net zero construction technology.

 

i(x) Net Zero is a signatory to the UN Principles for Responsible Investing. The Company has received the London Stock Exchange's Green Economy Mark.

 

 

1

Details of the person discharging managerial responsibilities

a)

Name

Par Lindstrom

2

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/ Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

i(x) Net Zero PLC

b)

LEI

213800YUAD1FCXH29638

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 the financial instrument

Ordinary Shares of no par value

b)

Identification code of the Financial Instrument

JE00BP4DVJ57

c)

Nature of the transaction

Award of Ordinary Shares

d)

Price(s) and volume(s)

 

Price(s)

Volume(s)

N/a

1,552,592

 

 

e)

Aggregated information:  volume, Price

N/a

f)

Date of the transaction

14 February 2024

g)

Place of the transaction

Outside of a trading venue

 

 

1

Details of the person discharging managerial responsibilities

a)

Name

Jonathan Stearns

2

Reason for the notification

a)

Position/status

Chief Finance Officer

b)

Initial notification/ Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

i(x) Net Zero PLC

b)

LEI

213800YUAD1FCXH29638

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 the financial instrument

Options over Ordinary Shares

b)

Identification code of the Financial Instrument

JE00BP4DVJ57

c)

Nature of the transaction

Award of Share Options

d)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Exercise Price: 21p

1,058,737

 

 

e)

Aggregated information:  volume, Price

N/a

f)

Date of the transaction

14 February 2024

g)

Place of the transaction

Outside of 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 rns@lseg.com or visit www.rns.com.

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END
 
 
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