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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Lightwaverf Plc | LSE:LWRF | London | Ordinary Share | GB00BKJ9BV58 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.625 | 0.25 | 1.00 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMLWRF
RNS Number : 4757X
LightwaveRF PLC
30 April 2019
30 April 2019
LightwaveRF plc
(AIM: LWRF)
Grant of Options
LightwaveRF plc ("LightwaveRF" or the "Company"), the leading smart home solutions provider, announces that it has granted to Jason Elliott, Kevin Edwards and John Shermer, the Executive Directors, and to certain senior employees of the Company, in aggregate, respectively 700,000, 490,000, 490,000 and 420,000 share options at an exercise price of 8.5 pence per share in accordance with the Company's EMI Share Option Scheme.
Provided that they vest, the share options are exercisable three years after grant. The options will vest in two equal tranches, in December 2019 and December 2020, after the publication of the Company's audited financial statements for the financial years ending 30 September for each of those years. The proportion of the option award vesting in each year will increase from 20% to 50% provided certain revenue targets are achieved by the Company with the maximum award being made at revenue of GBP8.0m and GBP16.0m respectively for the financial years ending 30 September 2019 and 2020 (the "Performance Criteria"). Subject to the discretion of the Company's Remuneration Committee, any options not vesting in any one financial year would be capable of vesting in a later year provided performance criteria are met for such later year.
Following this award, Mr. Elliott holds, in aggregate, options over 1,200,000 ordinary shares of the Company as follows:
No. of options Exercise price Trigger price for Exercise period (pence) exercise 500,000 16.0 n/a 06/04/2021* - 05/04/2028 --------------- ------------------ ------------------------- 700,000 8.5 n/a 30/04/2022* - 29/04/2029 --------------- ------------------ -------------------------
* Provided the options vest in accordance with the Performance Criteria
Following this award, Mr. Edwards holds, in aggregate, options over 1,340,000 ordinary shares of the Company as follows:
No. of options Exercise price Trigger price for Exercise period (pence) exercise 100,000 29.0 80p 31/03/2018 -30/03/2025 --------------- ------------------ ------------------------- 400,000 13.0 40p 14/02/2020 - 13/02/2027 --------------- ------------------ ------------------------- 350,000 16.0 n/a 06/04/2021* - 05/04/2028 --------------- ------------------ ------------------------- 490,000 8.5 n/a 30/04/2022* - 29/04/2029 --------------- ------------------ -------------------------
* Provided the options vest in accordance with the Performance Criteria
Following this award, Mr. Shermer holds, in aggregate, options over 1,440,000 ordinary shares of the Company as follows:
No. of options Exercise price Trigger price for Date from which (pence) exercise exercisable 200,000 28.0 80p 30/09/2018 -30/03/2025 --------------- ------------------ ------------------------- 400,000 13.0 40p 14/02/2020 -13/02/2027 --------------- ------------------ ------------------------- 350,000 16.0 n/a 06/04/2021* - 05/04/2028 --------------- ------------------ ------------------------- 490,000 8.5 n/a 30/04/2022* - 29/04/2029 --------------- ------------------ -------------------------
* Provided the options vest in accordance with the Performance Criteria
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information:
LightwaveRF plc www.lightwaveRF.com Jason Elliott, CEO +44 (0) 121 250 3625 Kevin Edwards, CFO Stockdale Securities Limited www.stockdalesecurities.com Tom Griffiths/David Coaten +44 (0) 20 7601 6100 Yellow Jersey PR www.yellowjerseypr.com Charles Goodwin/Annabel Atkins +44 (0) 7747 788 221
About LightwaveRF
LightwaveRF plc ("Lightwave") is the UK's only fully integrated home automation company.
New customers typically buy a starter pack of Link Plus hub and smart dimmer which has Apple HomeKit compatibility, 2-way communication and built-in energy monitoring. Later adding other easy to install devices from the Lightwave range enables further in-home control, monitoring and automation of lighting, heating and power.
Devices may be operated manually, by smartphone or tablet-based apps and also through Google Assistant and Amazon Alexa voice control.
Leading tech industry publication 9to5 Mac describes Lightwave as "the best UK HomeKit solution for smart lighting".
For further information and "Newsletter sign up", please visit:
www.lightwaverf.com/corporate/
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.
END
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(END) Dow Jones Newswires
April 30, 2019 02:01 ET (06:01 GMT)
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