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On 22 December 2022, Falanx Cyber Security Limited announced the grant of a total of 248,000 options over ordinary shares under its existing Enterprise Management Incentive Scheme. Of these, 188,000 New Options were awarded to five directors: Michael Read, Ian Selby, Rick Flood, Emma Shaw, and William Kilmer. These options have an exercise price of 50 pence per share and are exercisable between 1 January 2023 and 21 December 2032, subject to vesting conditions based on specific share price targets of 75 pence, 100 pence, and 125 pence.
| Date | 22 Dec 2022 |
| Time | 15:30:00 |
| Category | Director/PDMR dealings |
| ID | 6517K |
22 December 2022
Falanx Cyber Security Limited
("Falanx" or the "Company")
Grant of Options
Falanx Cyber Security Limited (AIM: FCS), the global cyber security provider, announces that it has today awarded a total of 248,000 options (the "New Options") over ordinary shares of nil par value each in the Company ("Ordinary Shares") under the Company's existing Enterprise Management Incentive Scheme ("EMI Scheme"). A total of 188,000 New Options have been awarded to the following directors:
|
Director |
Number of New Options Granted |
Total number of options over the Ordinary Shares as adjusted by the share reorganisation (Excluding options awarded in lieu of salaries during Covid-19) |
Total number of options as a percentage of the Company's issued share capital (Excluding options awarded in lieu of salaries during Covid-19) |
Total number of options over the Ordinary Shares (Including options awarded in lieu of salaries during Covid-19) |
Total number of options as a percentage of the Company's issued share capital (Including options awarded in lieu of salaries during Covid-19) |
|
Michael Read |
50,000 |
100,000 |
1.9% |
166,000 |
3.2% |
|
Ian Selby |
50,000 |
100,000 |
1.9% |
125,200 |
2.4% |
|
Rick Flood |
50,000 |
100,000 |
1.9% |
149,992 |
2.8% |
|
Emma Shaw |
16,000 |
16,000 |
0.3% |
23,992 |
0.5% |
|
William Kilmer |
22,000 |
22,000 |
0.4% |
22,000 |
0.4% |
The New Options have an exercise price of 50 pence per Ordinary Share (the "Exercise Price"), being the closing mid-market price on 21 December 2022, and will vest:
· as to 81,840 New Options (representing 33% of the total Options), provided that the average share price of the Company exceeds 75 pence (50% share price growth over the Exercise Price) for a period of 10 business days;
· as to 81,840 New Options (representing 33% of the total Options), provided that the average share price of the Company exceeds 100 pence (100% share price growth over the Exercise Price) for a period of 10 business days; and
· as to the balance of 84,320 New Options (representing 34% of the total Options), provided that the average share price of the Company exceeds 125 pence (150% growth over the Exercise Price) for a period of 10 business days.
Once vested the New Options are exercisable between 1 January 2023 and 21 December 2032, subject to accelerated vesting and exercise in certain customary scenarios.
Enquiries:
|
Falanx Cyber Security Limited Alex Hambro Chairman Mike Read CEO Ian Selby CFO
|
Via IFC |
|
WH Ireland Mike Coe/ Sarah Mather (Nomad) Joanna Hunt (Corporate Broking)
|
+ 44 (0) 207 220 1666 |
|
IFC Advisory Ltd Financial PR & IR Graham Herring / Zach Cohen |
+44 (0) 203 934 6630 |
|
1
|
Details of the person discharging managerial responsibilities / person closely associated |
|
|
a)
|
Names |
Michael David Read |
|
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
|
Falanx Cyber Security Limited |
|
b)
|
LEI |
213800YO4F9CUQLALV19 |
|
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 nil par value |
|
b) |
Identification code
|
VGG3338A1158 |
|
c)
|
Nature of the transaction
|
Grant of options over Ordinary Shares |
|
d)
|
Price(s) and volume(s) |
Volume(s): 50,000 Ordinary Shares Price: 50 pence per Ordinary Share |
|
d)
|
Aggregated information - Aggregated volume - Price |
N/A
|
|
e)
|
Date of the transactions |
22 December 2022 |
|
f)
|
Place of the transaction |
Outside a trading venue |
|
1
|
Details of the person discharging managerial responsibilities / person closely associated |
|
|
a)
|
Names |
Ian Selby |
|
2
|
Reason for the notification |
|
|
a)
|
Position/status
|
CFO |
|
b)
|
Initial notification /Amendment
|
Initial notification |
|
3
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|
|
a)
|
Name
|
Falanx Cyber Security Limited |
|
b)
|
LEI |
213800YO4F9CUQLALV19 |
|
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 nil par value |
|
b) |
Identification code
|
VGG3338A1158 |
|
c)
|
Nature of the transaction
|
Grant of options over Ordinary Shares |
|
d)
|
Price(s) and volume(s) |
Volume(s): 50,000 Ordinary Shares Price: 50 pence per Ordinary Share |
|
d)
|
Aggregated information - Aggregated volume - Price |
N/A
|
|
e)
|
Date of the transactions |
22 December 2022 |
|
f)
|
Place of the transaction |
Outside a trading venue |
|
1
|
Details of the person discharging managerial responsibilities / person closely associated |
|
|
a)
|
Names |
Richard Andrew Flood |
|
2
|
Reason for the notification |
|
|
a)
|
Position/status
|
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
|
Falanx Cyber Security Limited |
|
b)
|
LEI |
213800YO4F9CUQLALV19 |
|
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 nil par value |
|
b) |
Identification code
|
VGG3338A1158 |
|
c)
|
Nature of the transaction
|
Grant of options over Ordinary Shares |
|
d)
|
Price(s) and volume(s) |
Volume(s): 50,000 Ordinary Shares Price: 50 pence per Ordinary Share |
|
d)
|
Aggregated information - Aggregated volume - Price |
N/A
|
|
e)
|
Date of the transactions |
22 December 2022 |
|
f)
|
Place of the transaction |
Outside a trading venue |
|
1
|
Details of the person discharging managerial responsibilities / person closely associated |
|
|
a)
|
Names |
Emma Shaw |
|
2
|
Reason for the notification |
|
|
a)
|
Position/status
|
NED |
|
b)
|
Initial notification /Amendment
|
Initial notification |
|
3
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|
|
a)
|
Name
|
Falanx Cyber Security Limited |
|
b)
|
LEI |
213800YO4F9CUQLALV19 |
|
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 nil par value |
|
b) |
Identification code
|
VGG3338A1158 |
|
c)
|
Nature of the transaction
|
Grant of options over Ordinary Shares |
|
d)
|
Price(s) and volume(s) |
Volume(s): 16,000 Ordinary Shares Price: 50 pence per Ordinary Share |
|
d)
|
Aggregated information - Aggregated volume - Price |
N/A
|
|
e)
|
Date of the transactions |
22 December 2022 |
|
f)
|
Place of the transaction |
Outside a trading venue |
|
1
|
Details of the person discharging managerial responsibilities / person closely associated |
|
|
a)
|
Names |
William Kilmer |
|
2
|
Reason for the notification |
|
|
a)
|
Position/status
|
NED |
|
b)
|
Initial notification /Amendment
|
Initial notification |
|
3
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|
|
a)
|
Name
|
Falanx Cyber Security Limited |
|
b)
|
LEI |
213800YO4F9CUQLALV19 |
|
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 nil par value |
|
b) |
Identification code
|
VGG3338A1158 |
|
c)
|
Nature of the transaction
|
Grant of options over Ordinary Shares |
|
d)
|
Price(s) and volume(s) |
Volume(s): 22,000 Ordinary Shares Price: 50 pence per Ordinary Share |
|
d)
|
Aggregated information - Aggregated volume - Price |
N/A
|
|
e)
|
Date of the transactions |
22 December 2022 |
|
f)
|
Place of the transaction |
Outside a trading venue |