TIDMKRM
RNS Number : 5659Z
KRM22 PLC
21 September 2020
KRM22 plc
("KRM22", the "Group" or the "Company")
Issue of Options
KRM22 plc, (AIM: KRM) the technology and software investment
company that focuses on risk management for capital markets,
announces the issue of a total of 1,131,367 share options
("Options") and a restricted stock award of 253,162 ("Restricted
Stock") to subscribe for new ordinary shares of 10p each in the
Company ("Ordinary Shares") to employees and certain Directors of
the Company including Keith Todd (Executive Chairman and CEO),
Stephen Casner (President), Kim Suter (CFO) and Sandy Broderick
(Non-executive Director) under the Company's Employee Share Option
Plan.
The Options and Restricted Stock were awarded in exchange for
salary deferrals, and the related accrued repayment bonuses,
undertaken by certain employees in 2019/20 as part of the Company's
management of cashflows. The accrued repayment bonuses were due to
be repaid at an uncommitted future date however, as part of the new
Debt Facility agreed with Kestrel Partners LLP on 15 September
2020, it was agreed that the accrued repayment bonus liability
would be converted to Options.
Of the total of 1,131,367 Options issued, Keith Todd has been
issued with 287,831 Options, Kim Suter has been issued with 124,342
Options and Sandy Broderick has been issued with 59,210 Options on
the same terms as all other employees. Stephen Casner has been
issued 253,162 shares of Restricted Stock on different terms (as
described below).
Following the issue, the Directors will hold the following
Options:
Existing options Options over Total options Total options
over Ordinary Ordinary Shares over Ordinary as a % of
Shares Shares following the issued
the issue share capital
Keith Todd - 287,831 287,831 1.08%
----------------- ----------------- ------------------ ---------------
Kim Suter 211,875 124,342 336,217 1.26%
----------------- ----------------- ------------------ ---------------
Sandy Broderick 10,000 59,210 69,210 0.26%
----------------- ----------------- ------------------ ---------------
The Restricted Stock, which constitute 0.95% of the issued share
capital, was issued to Stephen Casner.
The Options are exercisable at 38 pence and will vest over three
years in 36 equal monthly instalments of which the first instalment
shall vest one month after the date of the grant. The Restricted
Stock will vest on the third anniversary of the date of grant.
Following this announcement, there is a total of 3,355,319
Options over Ordinary Shares representing 12.56% of the current
issued share capital of the Company and a total of 253,162
Restricted Stock representing 0.95% of the current issued share
capital of the Company.
For further information please contact:
KRM22 plc InvestorRelations@krm22.com
Keith Todd CBE, Executive Chairman and CEO
Kim Suter, CFO
finnCap Ltd (Nominated Adviser and Sole Broker) +44 (0)20 7220 0500
Carl Holmes / Kate Bannatyne / Matthew Radley
Alice Lane / Sunila de Silva (ECM)
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
About KRM22 plc
KRM22 is a closed-ended investment company which listed on AIM
on 30 April 2018. The Company has been established with the
objective of creating value for its investors through the
investment in, and subsequent growth and development of, target
companies in the technology and software sector, with a focus on
risk management in capital markets.
Through its investments and the Global Risk Platform, KRM22
helps capital market companies reduce the cost and complexity of
risk management. The Global Risk Platform provides applications to
help address firms' regulatory, market, technology and operations
risk challenges and to manage their entire enterprise risk
profile.
Capital markets companies' partner with KRM22 to optimise risk
management systems and processes, improving profitability and
expanding opportunities to increase portfolio returns by leveraging
risk as alpha.
KRM22 plc is listed on AIM and the Group is headquartered in
London, with offices in several of the world's major financial
centres.
See more about KRM22 at KRM22.com .
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Keith Todd
------------------------------- -----------------------------------
2. Reason for the Notification
--------------------------------------------------------------------
a) Position/status Executive Chairman and CEO
------------------------------- -----------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- -----------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name KRM22 Plc
------------------------------- -----------------------------------
b) LEI 213800IBCSBLSLJ9OD78
------------------------------- -----------------------------------
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 Options over ordinary Shares of 10
Financial instrument, pence each
type of instrument
Identification code GB00BFM6WC61
------------------------------- -----------------------------------
b) Nature of the transaction Issue of options
------------------------------- -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
38p 287,831
----------
------------------------------- -----------------------------------
d) Aggregated information:
* Aggregated volume See 4c) above
* Price
------------------------------- -----------------------------------
e) Date of the transaction 18 September 2020
------------------------------- -----------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -----------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Stephen Casner
------------------------------- ------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------
a) Position/status President
------------------------------- ------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- ------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name KRM22 Plc
------------------------------- ------------------------------------
b) LEI 213800IBCSBLSLJ9OD78
------------------------------- ------------------------------------
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 Grant of Common Stock restricted to
Financial instrument, vest 3 years from grant date
type of instrument
Identification code GB00BFM6WC61
------------------------------- ------------------------------------
b) Nature of the transaction Stock Grant
------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
38p 253,162
----------
------------------------------- ------------------------------------
d) Aggregated information:
* Aggregated volume See 4c) above
* Price
------------------------------- ------------------------------------
e) Date of the transaction 18 September 2020
------------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- ------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Kim Suter
------------------------------- -----------------------------------
2. Reason for the Notification
--------------------------------------------------------------------
a) Position/status 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 KRM22 Plc
------------------------------- -----------------------------------
b) LEI 213800IBCSBLSLJ9OD78
------------------------------- -----------------------------------
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 Options over ordinary Shares of 10
Financial instrument, pence each
type of instrument
Identification code GB00BFM6WC61
------------------------------- -----------------------------------
b) Nature of the transaction Issue of options
------------------------------- -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
38p 124,342
----------
------------------------------- -----------------------------------
d) Aggregated information:
* Aggregated volume See 4c) above
* Price
------------------------------- -----------------------------------
e) Date of the transaction 18 September 2020
------------------------------- -----------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -----------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Sandy Broderick
------------------------------- -----------------------------------
2. Reason for the Notification
--------------------------------------------------------------------
a) Position/status Non-Executive Director
------------------------------- -----------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- -----------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name KRM22 Plc
------------------------------- -----------------------------------
b) LEI 213800IBCSBLSLJ9OD78
------------------------------- -----------------------------------
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 Options over ordinary Shares of 10
Financial instrument, pence each
type of instrument
Identification code GB00BFM6WC61
------------------------------- -----------------------------------
b) Nature of the transaction Issue of options
------------------------------- -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
38p 59,210
----------
------------------------------- -----------------------------------
d) Aggregated information:
* Aggregated volume See 4c) above
* Price
------------------------------- -----------------------------------
e) Date of the transaction 18 September 2020
------------------------------- -----------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -----------------------------------
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END
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