10 January 2023

Checkit plc 

("Checkit" or the "Group")

Grant of options and PDMR dealings

Checkit plc (AIM:CKT) announces that, on 9 January 2023, it granted options over ordinary shares of 5 pence each ("Ordinary Shares") to certain PDMRs and employees to subscribe for, in aggregate, up to 2,310,653 Ordinary Shares under the Group's existing EMI, CSOP and US Options Schemes (the "Options").

1,205,653 Options granted under the EMI Options Scheme were granted to four individuals with 30 -month vesting periods. The vesting period has been reduced by six months for these individuals (two of whom are PDMRs) to reflect the fact that these awards were due to have been made to them significantly earlier. It was, however, not possible to make these awards earlier due to the Group not meeting the EMI balance sheet and total EMI options cap requirements at the time, which now no longer prevent Checkit from awarding the Options. 500,000 Options were granted under the EMI Options Scheme with 36 - month vesting periods to one PDMR.

Furthermore, 605,000 Options pursuant to the EMI, CSOP, and US Options Schemes were granted to 34 individuals with three-year vesting periods.

All Options granted under the EMI, and US Options Schemes are subject to an EBITDA performance condition. Options can only be exercised if the Group:

i.      is EBITDA breakeven or positive at the date of exercise; and

ii.     has been EBITDA breakeven or positive on average over the six months prior to the date of exercise.

The Options shall expire on the tenth anniversary of the date of grant.

Following the above awards, the total options outstanding are 7,730,653 (equivalent to 7.16% of Company's issued share capital).

PDMR Dealings

Included within the above, Options granted to certain PDMRs of the Group are as follows:

*Kit Kyte holds 2,000,000 unapproved EMI Options and 452,500 EMI Options.

The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail.

Enquiries: