⌘K
t
On 17 August 2022, the Board of Cellular Goods PLC granted a total of 2,350,000 share options. Chief Supply Chain Officer Nikhil Vijayan received options over 2,000,000 ordinary shares at 6.35p, and Marketing Director Philippa Bealey received options over 350,000 ordinary shares at 4.1p. These options, representing ordinary shares of £0.001 each, will vest over three years with a one-year cliff.
| Date | 17 Aug 2022 |
| Time | 07:00:06 |
| Category | Capital structure |
| ID | 2337W |
Press release
17 August 2022
Cellular Goods PLC
('Cellular Goods' or 'the Company')
Grant of Share Options
Cellular Goods (LSE: CBX), a UK-based wellness company providing premium consumer products formulated with lab-produced cannabinoids, announces that the Board has granted an award of a total of 2,350,000 ordinary shares of £0.001 each in the Company ("Options") to the following individuals.
Nikhil Vijayan, Chief Supply Chain Officer, who joined the Company in March 2022, has been granted Options over 2,000,000 ordinary shares with the Options priced at 6.35p per ordinary share. Philippa Bealey, Marketing Director, who joined the Company in June 2022, has been granted Options over 350,000 ordinary shares with the Options priced at 4.1p per ordinary share.
The exercise prices were determined based on the spot price for Cellular Goods' shares at the time Mr Vijayan and Ms Bealey accepted their respective employment offers. The Options will vest over three years, with a one-year cliff, so that 12/36th of the shares vest on the one-year anniversary of the start date, and thereafter 1/36th of the shares vest each month, so that 100% of the shares will have vested three years from the start date.
The grant of the Options is designed to motivate and retain Mr Vijayan and Ms Bealey as key employees of the Company and align their interests with those of the Company's shareholders.
For further information please contact:
|
Cellular Goods |
|
|
Anna Chokina Chief Executive Investor Relations |
via Tancredi +44 207 887 7633
ir@cellular-goods.com |
|
Tennyson Securities |
|
|
Corporate Broker Peter Krens |
+44 207 186 9030 |
|
Novum Securities |
|
|
Corporate Broker Colin Rowbury Jon Belliss |
+44 207 399 9427 |
|
Tancredi Intelligent Communication |
|
|
Media Relations Helen Humphrey Gabriela Amaya Garcia Charlie Hobbs |
+44 744 922 6720 +44 791 503 5294 +44 789 755 7112 |
Note to editors
About Cellular Goods PLC:
Cellular Goods is a UK-based wellness company that provides premium products based on lab-made cannabinoids. It was established in August 2018 to develop efficacy-led and research-backed cannabinoid-powered wellness products. The initial focus is on three product verticals: Function Better, Feel Better and Look Better. These three verticals encompass Cellular Goods' premium CBG skincare and CBD ingestible and topical athletic recovery products, with the first products launched in December 2021. The Company's shares are listed on the main market of the London Stock Exchange. www.cellular-goods.com