Falanx Group Limited Grant of Share Options (3054L)
22 December 2018 - 12:01AM
UK Regulatory
TIDMFLX
RNS Number : 3054L
Falanx Group Limited
21 December 2018
Falanx Group Limited
("Falanx" or "the Company")
Grant of Share Options
Falanx Group Ltd announces the grant of 4,750,000 share options
to the Directors and 9,300,000 share options to other management
and employees (together the "Share Options").
The Company considers it important to incentivise employees and
Directors through share incentive arrangements and to align them
with shareholders to create long term value.
Options under this plan are granted with a strike price of 3.5p
each which is approximately 19% higher than the closing mid-market
price on 20 December 2018. The option scheme is structured so that
there are only returns for participants where the share price has
very significantly increased from the current levels. Individual
Director grants are set out below:
Individual Director Option Grants
Current Share New Grant Enlarged Share Options
Options
Mike Read 5,000,000 1,500,000 6,500,000
-------------- ---------- -----------------------
Ian Selby 5,000,000 1,500,000 6,500,000
-------------- ---------- -----------------------
John Blamire 5,000,000 1,500,000 6,500,000
-------------- ---------- -----------------------
Emma Shaw 1,250,000 250,000 1,500,000
Vesting Criteria
These Share Options vest in three tranches: the first tranche
when the share price reaches 6.5p (25%), the second tranche when
the share price reaches 9p (25%) and the third tranche when the
share price reaches 12p (50%). The Share Options only vest if the
average share price has reached the relevant threshold level for a
period of three months, save for the event of a change of control
in the Company, in which case they will vest in full. Based on the
mid-market closing price on 20(th) December 2018 of 2.95p there is
no gain at all unless the share price increases by 120% and full
gains are not achieved until a gain of 307% has been achieved.
A total of 9,300,000 options have been issued to other staff in
the business. All vest as above save for a total of 1,500,000 which
have been issued to senior technical staff involved in the
development of key technologies and their vesting is based on
demanding incremental technical deliveries.
These option grants are under the Company's EMI scheme where the
individual and the grant meets EMI criterial. Grants which do not
are under the same rules as the EMI scheme but will not benefit
from EMI tax status. The Share Options have an exercise period of
10 years from grant under the rules of the EMI Scheme.
The total number of employee share options currently outstanding
represents 13.0% of the TVR and 11.5% on a fully diluted basis.
Enquiries:
Falanx Group Limited www.falanx.com
Mike Read, Chief Executive Officer
SPARK Advisory Partners Limited
Nominated Adviser
Matt Davis / James Keeshan +44 (0) 203 368 3551
Turner Pope Investments (TPI)
Ltd
Broker
Ben Turner / James Pope
IFC Advisory Ltd +44 (0) 203 621 4120
Financial PR & IR
Graham Herring
Miles Nolan
Zach Cohen +44 (0) 203 934 6630
About Falanx
Falanx Group Limited, is a global intelligence and cyber defence
provider working with blue chip and government clients. It operates
the MidGARD cyber monitoring platform for corporate and
governmental customers which utilises a combination of proprietary
and third-party processes and technologies. For more information:
http://www.falanx.com/
The notification below, made 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 1. Mike Read
2. Ian Selby
3. John Blamire
4. Emma Shaw
------------------ -----------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status 1. Chairman and Chief Executive Officer;
Director
2. Chief Financial Officer; Director
3. Chief Operations Officer; Director
4. Non-Executive Director; Director
------------------ -----------------------------------------------
b) Initial Initial notification
notification
/Amendment
------------------ -----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Falanx Group Limited
------------------ -----------------------------------------------
b) LEI 213800YO4F9CUQLALV19
------------------ -----------------------------------------------
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 Options over Ordinary Shares
of the
financial
instrument,
type of ISIN: VGG3338A1075
instrument
Identification
code
------------------ -----------------------------------------------
b) Nature Grant of options
of the
transaction
------------------ -----------------------------------------------
c) Price(s) Price: Volume
and volume(s) 3.5p
1. 1,500,000
------------------------
2. 1,500,000
------------------------
3. 1,500,000
------------------------
4. 250,000
------------------------
------------------ -----------------------------------------------
d) Aggregated - volume: 4,750,000
information - Price: 3.5p
------------------ -----------------------------------------------
e) Date of 21 December 20018
the transaction
------------------ -----------------------------------------------
f) Place of Not on a trading venue
the transaction
------------------ -----------------------------------------------
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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