1st Jul 2015 10:50
1 July 2015
MoneySwap Plc
("MoneySwap" or the "Company")
Grant of share options to directors and employees
MoneySwap (AIM: SWAP), the provider of payment solutions to online and point of sale merchants licenced for UnionPay in the UK and the provider for UnionPay MoneyExpress service enabling overseas persons to send funds directly to UnionPay cardholders in China, is pleased to announce that it has granted share options to directors and employees.
Grant of share options
Following a recommendation from its Remuneration Committee and approval from its Board, the Company has decided today to grant new share options over 67,987,855 ordinary shares of nominal value of 0.1 pence each to certain of the Company's existing directors and employees (the "Options"). The Options are to be granted under the Company's existing General Share Option Scheme adopted on 17 May 2011. The Options are exercisable at 1.10 pence per share, representing a 15.8% premium to MoneySwap's closing bid price on 30 June 2015, being the last day of trading immediately prior to this announcement. The Options are exercisable for a period of four years. The Options represent 5.68% of the Company's current issued share capital. 35,037,855 of the Options have been granted to the directors as follows:
Director | Previous number of share options held | Number of Options granted | New number of share options held |
Kung-Min Lin | - | 6,159,028 | 6,159,028 |
Javier Amo Fernández de Ávila | - | 5,083,967 | 5,083,967 |
Craig Niven | - | 2,994,159 | 2,994,159 |
Saihua Xu | 2,400,000 | 3,028,927 | 5,428,927 |
Richard Proksa | - | 17,771,774 | 17,771,774 |
Total | 2,400,000 | 35,037,855 | 37,437,855 |
The remaining 32,950,000 Options have been granted to employees of the Company.
The Options granted to directors will vest in eight equal instalments each quarter for the two years from the date of grant. The Options granted to employees are subject to time and performance related vesting criteria appropriate to their role within the Company.
Following the grant, the total number of share options currently in existence under the General Share Option Scheme is 95,206,622, representing 7.95% of the Company's current issued share capital. Total number of share options currently granted to directors, employees and consultants are 37,437,855, 50,680,000 and 7,088,767 respectively.
The Company's Remuneration Committee believes the above grant of Options will align the directors' and employees' interests with those of the Company's shareholders.
- Ends-
For further information, please contact:
MoneySwap Plc | Allenby Capital Limited | MoneySwap Plc |
Chief Executive Officer | Nominated Adviser | Financial PR |
Richard Proksa
| Nick Naylor Alex Price James Reeve | Fiona Fenn Smith
|
+852 3919 9888 | +44 20 3328 5656 | +44 7712 101922 |
About MoneySwap (www.moneyswap.com)
MoneySwap provides payment solutions and gateways to merchants which allow both online and point of sale transactions to be settled using UnionPay cards in the UK. In addition, UnionPay has licensed MoneySwap for its MoneyExpress service which enables overseas persons to send funds directly to UnionPay cardholders in China. The Company also offers an online peer to peer platform for currency exchange and payments. The Company's shares are traded on the London Stock Exchange's AIM market (AIM: SWAP). More information can be found at www.moneyswap.com.
Related Shares:
SWAP.L