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Transfer of Share Options

24th Mar 2025 07:03

RNS Number : 8328B
Insig AI Plc
24 March 2025
 

24 March 2025

Insig AI plc

("Insig AI", the "Company" or the "Group")

Transfer of Share Options

 

Insig AI plc (AIM: INSG), the data science and machine learning group, announces that Richard Bernstein has transferred 2,000,000 options in the Company previously granted to him to a non-PDMR consultant to the Company.

These options were originally granted to Richard Bernstein on 6 June 2024 (see RNS number 3246R), have an exercise price of 20 pence and expire on 5 June 2029. They vest equally over a three-year period, on the first, second and third anniversary of the date of grant and are subject to certain vesting criteria, namely:

- Revenue exceeding £2.0m for a preceding 12 month rolling period (50% of the award); and

- Revenue exceeding £3.0m for a preceding 12 month rolling period (50% of the award).

The transfer was performed to potentially remunerate the consultant (assuming the options vest) whilst avoiding any cash outflow from the business, and also by avoiding further potential dilution had new options been granted.

Following the transfer, Richard Bernstein continues to hold 3,666,667 options and warrants in the Company, which represent approximately 2.75% of the total fully diluted issued share capital of the Company (following the pending issue of new ordinary shares on 31 March 2025).

The total number of share options and warrants granted by the Company remains at 13,160,471, which represents 9.89% of the total issued share capital of the Company (following the pending issue of new ordinary shares on 31 March 2025).

For further information, please visit www.insig-ai.com or contact:

 

Insig AI plc

Richard Bernstein, CEO [email protected]

Zeus (Nominated Adviser & Broker)

David Foreman / James Hornigold +44 (0) 203 829 5000

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name 

 

Richard Bernstein

 

2

 

Reason for the notification

 

a)

 

Position/status

  

CEO

b)

 

Initial notification /Amendment 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

Insig AI plc

b)

 

LEI

21380098CKBAG1NWCD98

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

Ordinary Shares of 1 pence each

Identification code

GB00BYV31355

b)

 

Nature of the transaction

Transfer of previously granted options from Richarda Bernstein to a non-PDMR consultant to the Company

c)

 

Price(s) and volume(s)

Price(s)

Volume(s)

20 pence

2,000,000

d)

 

Aggregated information

N/A single transaction

- Aggregated volume

- Price

e)

 

Date of the transaction

24 March 2025

f)

 

Place of the transaction 

 

London Stock Exchange

 

 

 

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 [email protected] or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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Insig Ai Plc
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