Versarien PLC Award of Share Options to Directors (1932Z)

TIDMVRS

RNS Number : 1932Z

Versarien PLC

30 August 2018

Versarien plc

("Versarien" or the "Company")

Award of Share Options to Directors

Versarien plc (AIM: VRS), the advanced materials engineering group, announces that the Board has issued options over an aggregate of 5,339,232 ordinary shares of 1 pence each in the Company ("Share Options"), as approved by the Company's Remuneration Committee, as detailed below. The Share Options represent 3.6 per cent of the Company's current issued share capital.

Neill Ricketts, Chief Executive Officer, and Christopher Leigh, Chief Financial Officer, have each been awarded 2,669,616 Share Options under the Company's Employee Share Option Plan 2013. The Share Options will vest and may be exercised on the following basis:

   --     One-third on or after 30 August 2021 ("Vesting Period 1"); 
   --     One-third on or after 30 August 2022 ("Vesting Period 2"); and 
   --     One-third on or after 30 August 2023 ("Vesting Period 3"). 

The exercise price for the Share Options is 152p.

The Share Options may be exercised provided that the Company's average share price in the 30 days prior to exercise is not less than 183p prior to Vesting Period 1 exercise, 213p prior to Vesting Period 2 exercise and 244p prior to Vesting Period 3 exercise.

Following the grant of the Share Options, Neill Rickets is interested in 15,250,000 Versarien ordinary shares, representing 10.26 per cent of the Company's issued share capital and options over a further 6,346,991 ordinary shares. Christopher Leigh is interested in 315,000 Versarien ordinary shares, representing 0.21 per cent of the Company's issued share capital and options over a further 6,346,991 ordinary shares.

The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation is appended below.

Enquiries:

 
 Versarien 
  Neill Ricketts, CEO 
  Chris Leigh, CFO                                01242 269 122 
 Arden Partners (Nominated Adviser and Broker) 
  Chris Hardie 
  Dan Gee-Summons                                 020 7614 5900 
 IFC Advisory (Financial PR and IR) 
  Tim Metcalfe 
  Graham Herring 
  Heather Armstrong                               020 3934 6630 
 

The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                          Neill Ricketts 
     ----------------------------  ----------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status               Chief Executive Officer 
     ----------------------------  ----------------------------------------- 
 b)   Initial notification/         Initial Notification 
       Amendment 
     ----------------------------  ----------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                          Versarien plc 
     ----------------------------  ----------------------------------------- 
 b)   LEI                           213800D6NZED7V8W2Z34 
     ----------------------------  ----------------------------------------- 
 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            Options over Ordinary shares of 1p each 
       financial instrument, 
       type of instrument            GB00B8YZTJ80 
       Identification code 
     ----------------------------  ----------------------------------------- 
 b)   Nature of the transaction     Grant of Options 
     ----------------------------  ----------------------------------------- 
 c)   Price(s) and volume(s)          Price(s)               Volume(s) 
                                       183 pence per share    889,872 
                                                             ---------- 
                                       213 pence per share    889,872 
                                                             ---------- 
                                       244 pence per share    889,872 
                                                             ---------- 
     ----------------------------  ----------------------------------------- 
 d)   Aggregated information 
       - Aggregated volume            2,669,616 
       - Price                        n/a 
     ----------------------------  ----------------------------------------- 
 e)   Date of the transaction       30 August 2018 
     ----------------------------  ----------------------------------------- 
 f)   Place of the transaction      London Stock Exchange, AIM 
     ----------------------------  ----------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                          Christopher Leigh 
     ----------------------------  ----------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status               Chief Financial Officer 
     ----------------------------  ----------------------------------------- 
 b)   Initial notification/         Initial Notification 
       Amendment 
     ----------------------------  ----------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                          Versarien plc 
     ----------------------------  ----------------------------------------- 
 b)   LEI                           213800D6NZED7V8W2Z34 
     ----------------------------  ----------------------------------------- 
 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            Options over Ordinary shares of 1p each 
       financial instrument, 
       type of instrument            GB00B8YZTJ80 
       Identification code 
     ----------------------------  ----------------------------------------- 
 b)   Nature of the transaction     Grant of Options 
     ----------------------------  ----------------------------------------- 
 c)   Price(s) and volume(s)          Price(s)               Volume(s) 
                                       183 pence per share    889,872 
                                                             ---------- 
                                       213 pence per share    889,872 
                                                             ---------- 
                                       244 pence per share    889,872 
                                                             ---------- 
     ----------------------------  ----------------------------------------- 
 d)   Aggregated information 
       - Aggregated volume            2,669,616 
       - Price                        n/a 
     ----------------------------  ----------------------------------------- 
 e)   Date of the transaction       30 August 2018 
     ----------------------------  ----------------------------------------- 
 f)   Place of the transaction      London Stock Exchange, AIM 
     ----------------------------  ----------------------------------------- 
 

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 [e-mail] or visit www.rns.com.

END

DSHPGUCPRUPRGQB

(END) Dow Jones Newswires

August 30, 2018 02:01 ET (06:01 GMT)