Blue Star Capital plc Option Scheme and Grant of Options (8340M)
24 September 2021 - 4:00PM
UK Regulatory
TIDMBLU
RNS Number : 8340M
Blue Star Capital plc
24 September 2021
24 September 2021
Blue Star Capital plc
("Blue Star" or the "Company")
Option Scheme and Grant of Options
Blue Star Capital plc (AIM: BLU), the investing company with a
focus on esports, technology and its applications within media and
gaming, announces, further to its announcement of 29 June 2021,
that it has adopted a share option scheme (the "Scheme") and
granted share options to certain directors.
The terms of the Scheme, which is to incentivise management
performance for the benefit of all shareholders by way of options
which are subject to time and performance conditions, provide that
a maximum of 10 per cent. of the Company's issued share capital in
aggregate, from time to time, may be issued without the prior
approval of shareholders of the Company. The exercise period for
options granted under the Scheme is 10 years from the date of grant
and the exercise price at grant is ordinarily expected to be at or
around the mid-market closing price on or around the day before the
grant of any options.
Vesting criteria for options granted under the Scheme are as
follows:
Amount Vesting Time Condition Performance Condition
33.3 per cent. ("Tranche On the business day following the share price being
One") the date of grant ("Tranche at least 10 per cent.
One Vesting Date") higher than on the Grant
Date
33.3 per cent. ("Tranche On the business day following the share price being
two") the first financial year at least 20 per cent.
end following the date higher than on the Grant
of grant ("Tranche Two Date
Vesting Date")
33.3 per cent. ("Tranche On the business day following the share price being
two") the second financial year at least 30 per cent.
end following the date higher than on the Grant
of grant ("Tranche Three Date
Vesting Date")
Vesting conditions may be varied or waived provided that any
varied vesting condition shall be a fairer measure of performance,
as judged at the time, and no more difficult to satisfy than the
original vesting condition. The Scheme provides good leaver
provisions and other standard terms normally associated with such a
scheme.
On 24 September 2021 ("Grant Date"), the Company granted the
following options under the Scheme at the mid-market price on the
Grant Date:
Option holder Number of Exercise Price Options Granted
Options granted as Percentage of
issued share capital
on Grant Date
Sean King 75,000,000 0.14p 1.5%
Brian Rowbotham 75,000,000 0.14p 1.5%
----------------- --------------- ----------------------
Total 150,000,000 3.0%
----------------- --------------- ----------------------
There are no existing options in issue and, as a result of the
grant of options above, the Company has outstanding options over
150,000,000 ordinary shares in aggregate representing 3.0 per cent.
of the Company's issued share capital on following Admission.
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
For further information, please contact:
Blue Star Capital plc +44 (0) 20 3608 3019
Derek Lew
Cairn Financial Advisers LLP +44 (0) 20 7213 0880
(Nominated Adviser)
Jo Turner / Liam Murray
S tanford Capital Partners Limited
(Broker)
Patrick Claridge / John Howes /
Bob Pountney +44 (0) 20 3815 8880
About Blue Star Capital
Blue Star is an investing company with a focus on new
technologies. Blue Star's investments include a 27.7% holding in
SatoshiPay, a payments business using blockchain technology;
investments in 6 early stage esports companies with shareholdings
ranging from 6% to 13.6% and a 0.9% investment in Sthaler, an
identity and payments technology business which enables a consumer
to identify themselves and pay using just their finger.
Notification of a Transaction pursuant to Article 19(1) of Regulation
(EU) No. 596/2014
1 Details of the person discharging managerial responsibilities/person
closely associated
----- -------------------------------------------------------------------------------------
a. Name 1. Sean King
2. Brian Rowbotham
-------------------------------------------------
2 Reason for notification
---------------------------------- -------------------------------------------------
a. Position/Status 1. Non-executive Director
2. Non-executive Director
---------------------------------- -------------------------------------------------
b. Initial notification/ Initial
Amendment
---------------------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------
a. Name Blue Star Capital plc
----------------------------------
b. LEI 213800Y6XGR31P2LKT12
---------------------------------- -------------------------------------------------
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 Options over ordinary shares
the financial
instrument, type GB00B02SSZ25
of instrument
Identification
Code
---------------------------------- -------------------------------------------------
b. Nature of the Grant of Options
transaction
---------------------------------- -------------------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
---------------------------------- -------------------- ---
1. 0.14p 75,000,000
2. 0.14p 75,000,000
-------------------------------------------------------------------- --------------
d. Aggregated information
- Aggregated Volume 150,000,000
- Price 0.14p
---------------------------------- -------------------------------------------------------
e. Date of the transaction 24/9/2021
---------------------------------- -------------------------------------------------
f. Place of the transaction UK
---------------------------------- -------------------------------------------------
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END
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