31st Jan 2019 16:58
31 January 2019
Applied Graphene Materials plc
("Applied Graphene Materials", "the Group" or "the Company")
Issue of share options to Directors
Applied Graphene Materials announces that share options over ordinary shares of 2 pence each in the Company were granted on 31 January 2019 to the following Directors under the terms of both the Company's Enterprise Management Incentive scheme ("EMI") and Non-Approved Executive Option Scheme ("Non-Approved"):
Name | Number of shares subject to an EMI option | Number of shares subject to a Non-Approved option | Option exercise price per share | Total number of options held under all schemes |
Adrian Potts | - | 486,772 | £nil | 486,772 |
David Blain | 360,000 | - | £nil | 360,000 |
Karl Coleman | - | 54,392 | £nil | 117,453 |
The vesting of both EMI and Non-Approved options is subject to the relative performance of the Company's share price, compared to the FTSE AIM All Share Index, for the period from the date of grant to 30 November 2021.
In the event that the Company's share price performs better than the FTSE AIM All Share Index, for the performance period, then 25% of the options will vest. Further vesting will be dependent upon the extent to which the Company's share price outperforms the FTSE AIM All Share Index, with full vesting arising for performance exceeding the benchmark by 25%. Percentage vesting is weighted to towards the upper parts of the vesting scale.
In each case, performance will be measured using the one month average share price and FTSE AIM All Share Index value in the period prior to the start and end of the performance period. The starting one month average share price and FTSE AIM All Share Index value, in respect of the options granted, were £0.322 and 898.9 respectively.
Subject to vesting the options would be exercisable in the period between 30 November 2021 and 31 January 2029. Nil consideration is payable in respect of either the grant or exercise of these options.
Ends
For further information, please contact:
Applied Graphene Materials +44 (0) 1642 438 214
Adrian Potts, Chief Executive Officer
David Blain, Chief Financial Officer
N+1 Singer +44 (0) 207 496 3000
Richard Lindley / Justin McKeegan
Hudson Sandler +44 (0) 207 796 4133
Charlie Jack / Emily Dillon
Notes to Editors
Applied Graphene Materials works in partnership with its customers using its knowledge and expertise to provide bespoke graphene dispersions and formats to deliver enhancements and benefits for a wide range of applications. The Group's strategy is to target commercial applications in three core markets: coatings, composites and functional materials.
The Group has developed proprietary bottom-up processes which are capable of producing high purity graphene nanoplatelets using a continuous process. The manufacturing process is based on sustainable, readily available raw materials and therefore does not rely on the supply of graphite, unlike a number of other graphene production techniques. Applied Graphene Materials owns the intellectual property and know-how behind this process.
Applied Graphene Materials was founded by Professor Karl Coleman in 2010 with its operations and processes based on technology that he initially developed at Durham University. The Group was admitted to AIM in November 2013, raising £11 million, and is based at the Wilton Site on Teesside. In January 2016 the Group raised £8.5m to support its ongoing activities and in October 2017 the Group raised a further £9.8m.
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Adrian Potts | |
2 | Reason for the notification | ||
a) | Position/status | PDMR (Chief Executive Officer) | |
b) | Initial notification /Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Applied Graphene Materials plc | |
b) | LEI | 213800OA661EWZOW5253 | |
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 financial instrument, type of instrument
Identification code
| Ordinary shares of 2 pence each
GB00BFSSB742 | |
b) | Nature of the transaction | Grant of options over ordinary shares | |
c)
| Price(s) and volume(s)
| Price | Volume |
nil | 486,772 | ||
d) | Aggregated information - Aggregated volume - Price
|
n/a
| |
e) | Date of the transaction | 31 January 2019 | |
f) | Place of the transaction | London Stock Exchange | |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | David Blain | |
2 | Reason for the notification | ||
a) | Position/status | PDMR (Chief Financial Officer) | |
b) | Initial notification /Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Applied Graphene Materials plc | |
b) | LEI | 213800OA661EWZOW5253 | |
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 financial instrument, type of instrument
Identification code
| Ordinary shares of 2 pence each
GB00BFSSB742 | |
b) | Nature of the transaction | Grant of options over ordinary shares | |
c)
| Price(s) and volume(s)
| Price | Volume |
nil | 360,000 | ||
d) | Aggregated information - Aggregated volume - Price
|
n/a
| |
e) | Date of the transaction | 31 January 2019 | |
f) | Place of the transaction | London Stock Exchange | |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Karl Coleman | |
2 | Reason for the notification | ||
a) | Position/status | PDMR (Chief Scientific Officer) | |
b) | Initial notification /Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Applied Graphene Materials plc | |
b) | LEI | 213800OA661EWZOW5253 | |
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 financial instrument, type of instrument
Identification code
| Ordinary shares of 2 pence each
GB00BFSSB742 | |
b) | Nature of the transaction | Grant of options over ordinary shares | |
c)
| Price(s) and volume(s)
| Price | Volume |
nil | 54,392 | ||
d) | Aggregated information - Aggregated volume - Price
|
n/a
| |
e) | Date of the transaction | 31 January 2019 | |
f) | Place of the transaction | London Stock Exchange | |
Related Shares:
AGM.L