Northamber PLC New Company Share Option Scheme & Grant of Options (3114H)

TIDMNAR

RNS Number : 3114H

Northamber PLC

27 July 2023

Northamber PLC

("Northamber" or the "Company")

New Company Share Option Plan

Grant of Share Options

27 July 2023

Northamber (AIM:NAR), announces that it has adopted a Company Share Option Plan ("CSOP"), under which all of the Company's eligible employees will be able to participate.

Options under the CSOP ("CSOP Options") to acquire a total of 131,250 ordinary shares of GBP0.01 each in the capital of the Company ("Ordinary Shares"), have been granted to 3 directors, which represent 0.48 per cent. of the existing issued share capital of the Company, as detailed below.

In addition, the Company intends to grant additional CSOP Options to acquire up to 1,266,240 Ordinary Shares to senior management and other employees, which would represent up to 4.65 per cent. of the existing issued share capital of the Company.

The exercise price of all the CSOP Options is equal to the mid-market closing price of an Ordinary Share as derived from the AIM Appendix to the Daily Official List on the dealing day immediately prior to the date of grant of the CSOP Options, being 25 July 2023.

Detail of CSOP Option grants to Directors

 
      Name        Number of Ordinary   Exercise     Number of Ordinary 
                   Shares over which     Price       Shares under CSOP 
                     CSOP Options                  Option as a % of share 
                   have been granted                      capital 
 Peter Dosanjh    43,750               42.5p      0.16% 
                 -------------------  ---------  ------------------------ 
 Tony Lee         43,750               42.5p      0.16% 
                 -------------------  ---------  ------------------------ 
 John Henry       43,750               42.5p      0.16% 
                 -------------------  ---------  ------------------------ 
 

CSOP Options will vest and become exercisable on the later of:

   --       the third anniversary of the date of grant; and 

-- the date on which the board of directors determines that the volume-weighted average mid-market closing price of an Ordinary Share as derived from the AIM Appendix to the Daily Official List ("VWAP") over a period of 30 dealing days, is equal to or greater than GBP0.90 ("VWAP Target").

Except in the event of a change of control of the Company and in certain 'good leaver' scenarios, CSOP Options may only be exercised after the third anniversary of the date of grant and to the extent that the VWAP Target is met. The CSOP Options granted by the Company to date are not subject to any holding period.

Contacts:

 
 
 Northamber PLC                              [e-mail] 
  Colin Thompson, Chairman 
 
 Singer Capital Markets (Nominated Adviser   Tel: [phone] 
  and Sole Broker) 
 Philip Davies 
  Alex Bond 
 
 
 1.    Details of the person discharging managerial responsibilities / 
        person closely associated 
 a.    Name                             Peter Dosanjh 
      -------------------------------  --------------------------------------- 
 2.    Reason for the notification: Grant of CSOP options 
      ------------------------------------------------------------------------ 
 a.    Position/status 
      -------------------------------  --------------------------------------- 
 b.    Initial notification             Initial notification 
        /Amendment 
      -------------------------------  --------------------------------------- 
 3.    Details of the issuer, emission allowance market participant, auction 
        platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------ 
 a.    Name                             Northamber plc 
      -------------------------------  --------------------------------------- 
 b.    LEI                              213800F4IVW7568DW226 
      -------------------------------  --------------------------------------- 
 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 1 pence each 
        the Financial 
        instrument, type                 GB00B2Q99X01 
        of instrument 
        Identification 
        code 
      -------------------------------  --------------------------------------- 
 b.    Nature of the                    Grant of CSOP options 
        transaction 
      -------------------------------  --------------------------------------- 
 c.    Price(s) and volume(s)                               Price(s) 
                                          Volume(s) 43,750      42.5p 
      -------------------------------  --------------------------------------- 
  d.   Aggregated information             [N/A - single transaction] 
        Aggregated volume                 43,750 
        Price                             42.5p 
      -------------------------------  --------------------------------------- 
 e.    Date of the transaction          26/07/23 
      -------------------------------  --------------------------------------- 
 f.    Place of the transaction         Off-Exchange 
      -------------------------------  --------------------------------------- 
 
 
 1.    Details of the person discharging managerial responsibilities / 
        person closely associated 
 a.    Name                             Tony Lee 
      -------------------------------  --------------------------------------- 
 2.    Reason for the notification: Grant of CSOP options 
      ------------------------------------------------------------------------ 
 a.    Position/status 
      -------------------------------  --------------------------------------- 
 b.    Initial notification             Initial notification 
        /Amendment 
      -------------------------------  --------------------------------------- 
 3.    Details of the issuer, emission allowance market participant, auction 
        platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------ 
 a.    Name                             Northamber plc 
      -------------------------------  --------------------------------------- 
 b.    LEI                              213800F4IVW7568DW226 
      -------------------------------  --------------------------------------- 
 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 1 pence each 
        the Financial 
        instrument, type                 GB00B2Q99X01 
        of instrument 
        Identification 
        code 
      -------------------------------  --------------------------------------- 
 b.    Nature of the                    Grant of CSOP options 
        transaction 
      -------------------------------  --------------------------------------- 
 c.    Price(s) and volume(s)                               Price(s) 
                                          Volume(s) 43,750      42.5p 
      -------------------------------  --------------------------------------- 
  d.   Aggregated information             [N/A - single transaction] 
        Aggregated volume                 43,750 
        Price                             42.5p 
      -------------------------------  --------------------------------------- 
 e.    Date of the transaction          26/07/23 
      -------------------------------  --------------------------------------- 
 f.    Place of the transaction         Off-Exchange 
      -------------------------------  --------------------------------------- 
 
 
 1.    Details of the person discharging managerial responsibilities / 
        person closely associated 
 a.    Name                             John Henry 
      -------------------------------  --------------------------------------- 
 2.    Reason for the notification: Grant of CSOP options 
      ------------------------------------------------------------------------ 
 a.    Position/status 
      -------------------------------  --------------------------------------- 
 b.    Initial notification             Initial notification 
        /Amendment 
      -------------------------------  --------------------------------------- 
 3.    Details of the issuer, emission allowance market participant, auction 
        platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------ 
 a.    Name                             Northamber plc 
      -------------------------------  --------------------------------------- 
 b.    LEI                              213800F4IVW7568DW226 
      -------------------------------  --------------------------------------- 
 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 1 pence each 
        the Financial 
        instrument, type                 GB00B2Q99X01 
        of instrument 
        Identification 
        code 
      -------------------------------  --------------------------------------- 
 b.    Nature of the                    Grant of CSOP options 
        transaction 
      -------------------------------  --------------------------------------- 
 c.    Price(s) and volume(s)                               Price(s) 
                                          Volume(s) 43,750      42.5p 

      -------------------------------  --------------------------------------- 
  d.   Aggregated information             [N/A - single transaction] 
        Aggregated volume                 43,750 
        Price                             42.5p 
      -------------------------------  --------------------------------------- 
 e.    Date of the transaction          26/07/23 
      -------------------------------  --------------------------------------- 
 f.    Place of the transaction         Off-Exchange 
      -------------------------------  --------------------------------------- 
 

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July 27, 2023 02:00 ET (06:00 GMT)