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Posted at 27/8/2024 06:51 by nasarsaddique
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Posted at 02/11/2022 08:56 by nasarsaddique
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Posted at 21/1/2021 15:18 by maytrees
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Posted at 04/6/2020 10:57 by hope67
Malvern International plc (AIM: MLVN), the global learning and skills development partner, announces that, pursuant to the announcement of a Fundraising this morning, it has today, conditional on completion of the Fundraising, granted options to subscribe for 65,000,000 New Ordinary Shares exercisable at a price of 0.15p subject to performance conditions.
The options are exercisable after the third anniversary of Admission subject to certain performance conditions. Of the options awarded, 50 per cent. are exercisable subject to the Company's share price reaching 1.51 pence over 40 consecutive business days. The remaining 50 per cent. are exercisable subject to the Company's share price reaching 2.62 pence for over 40 consecutive business days.
Of the options awarded 32,000,000 have been granted to Sam Malafeh, Chief Executive Officer.
The grant of options to Mr Malafeh as a Director of the Company constitutes a related party transaction under the AIM Rules. The independent Directors (being Mark Elliott and Alan Carroll) consider, having consulted with WH Ireland, the Company's nominated adviser, that the terms of grant of the options to Mr Malafeh are fair and reasonable insofar as the shareholders of Malvern are concerned.
Again pursuant to the announcement of a Fundraising this morning, the Company also announces that, conditional on completion of the Fundraising, it has agreed to convert outstanding salaries and fees into New Ordinary Shares at a price of 0.15p to the following Directors:
-- Mr Sam Malafeh (Chief Executive Officer) will receive 43,333,333 New Ordinary Shares;
-- Mr Mark Elliott (Non-Executive Chairman) will receive 3,982,453 New Ordinary Shares; and,
-- Mr Alan Carroll (Non-Executive Director) will receive 1,840,400 New Ordinary Shares.
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Posted at 07/6/2019 07:31 by daburd
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Posted at 17/3/2019 07:30 by hiraniha
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