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On 11 March 2024, Checkit plc granted options over 1,250,000 ordinary shares to Kit Kyte, its Chief Executive Officer, under the existing EMI Options Scheme. These options are exercisable at 20 pence per Ordinary Share, vest after a 36-month period subject to EBITDA conditions, and will expire on the tenth anniversary of their grant. Following this award, Kit Kyte holds outstanding options over a total of 3,250,000 Ordinary Shares.
| Date | 12 Mar 2024 |
| Time | 07:00:09 |
| Category | Director/PDMR dealings |
| ID | 4069G |
12 March 2024
Checkit plc
("Checkit" or the "Group)
Grant of options and PDMR Dealing
Checkit (AIM: CKT), announces that on 11 March 2024, it granted options over ordinary shares of 5 pence each ("Ordinary Shares") to Kit Kyte, Chief Executive Officer, to subscribe for 1,250,000 Ordinary Shares under the Group's existing EMI Options Scheme (the "Options").
The Options can only be exercised following a 36 month vesting period and if Checkit is EBITDA breakeven or positive (with reference to the Checkit's management accounts) as at the date of exercise and has been EBITDA breakeven or positive on average over a six month period prior to the date of exercise. The Options shall expire on the tenth anniversary of the date of their grant.
Following this award, Kit Kyte holds outstanding options over a total of 3,250,000 Ordinary Shares.
The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail.
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1 |
Details of the person discharging managerial responsibilities/person closely associated
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a) |
Name: |
Kit Kyte |
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2 |
Reason for the notification
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a) |
Position/Status:
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Chief Executive Officer |
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b) |
Initial Notification/Amendment:
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Initial Notification |
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3 |
Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor
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a) |
Name: |
Checkit Plc
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b) |
LEI: |
213800556WJOWQNT2R68 |
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4. |
Details of 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.
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a) |
Description of the financial instrument: Identification code: |
Ordinary Shares of 5 pence each ISIN GB00B0C5RG72 |
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b) |
Nature of the transaction:
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Grant of options over Ordinary Shares |
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c) |
Price(s) and volume(s): |
Price(s)
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Exercisable at 20 pence per Ordinary Share |
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Volume(s)
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1,250,000 |
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d) |
Aggregated information - Aggregated volume
- Price
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N/A - single transaction |
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e) |
Date of the Transaction:
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11 March 2024 |
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f) |
Place of the Transaction: |
Outside a trading venue
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For further information, please visit www.checkit.net or contact:
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Checkit plc Kit Kyte (Chief Executive Officer) Greg Price (Chief Financial and Operations Officer) |
+44 (0) 1223 643313 |
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Singer Capital Markets (Nominated Adviser & Broker) Shaun Dobson / Harry Gooden / James Fischer |
+44 (0) 20 7496 3000 |
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Tavistock (Financial PR) Lulu Bridges / Katie Hopkins / Simon Hudson |
+44 (0) 20 7920 3150 |