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Velocys plc announced on 14 January 2022 that on 13 January 2022, CEO Henrik Wareborn and CFO Andrew Morris were granted share options under the Velocys 2021 Share Option Scheme. Mr. Wareborn received 2,343,750 options (0.17% of issued share capital) and Mr. Morris received 2,109,375 options (0.15%), both with an exercise price of £0.08 per share. Additionally, 8,425,156 share options (0.60%) were granted to other key staff for the 2021 financial year.
| Date | 14 Jan 2022 |
| Time | 07:00:05 |
| Category | Director/PDMR dealings |
| ID | 4099Y |
Velocys plc
("Velocys" or "the Company")
Grant of Share Options to Directors
Velocys plc (VLS.L), the sustainable fuels technology company, today announces that, on 13 January 2022, Henrik Wareborn, Chief Executive Officer and a director of the Company and Andrew Morris, Chief Financial Officer and a director of the Company, were granted options ("Annual Awards") under the Velocys 2021 Share Option Scheme over the Company's £0.01 Ordinary shares ("Ordinary Shares"). The Annual Awards, which have been made under the Rules of the Velocys 2021 Share Option Scheme and are in line with the annual awards made in respect of 2019 and 2020 are as follows:
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Name of Director |
Type of share option |
Number of share options granted
|
Exercise price |
Vesting/ Exercise (See notes below) |
Number of share options as % of present issued share capital |
|
Henrik Wareborn |
Annual Award 2021 |
2,343,750 |
£0.08
|
Note 1
|
0.17%
|
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Andrew Morris |
Annual Award 2021 |
2,109,375 |
£0.08
|
Note 1
|
0.15%
|
Following these notifications:
(i) Henrik Wareborn is interested in 2,318,445 Ordinary Shares and Options over 15,858,253 Ordinary Shares of the Company, together representing 1.30% of the present issued share capital of the Company.
(ii) Andrew Morris is interested in 1,172,817 Ordinary Shares and Options over 14,672,428 Ordinary Shares of the Company, together representing 1.14% of the present issued share capital of the Company.
The Annual Awards are in addition to grants of share options over 8,425,156 Ordinary Shares (representing 0.60% of the present issued share capital) to Velocys' other key staff in respect of share awards for the 2021 financial year.
The above options are subject to terms for Malus and Clawback and may not in any event be exercised later than the day immediately preceding the tenth anniversary of the date of grant.
Note 1: The Annual Awards vest as to:
(i) 50% on the third anniversary of the date of grant and
(ii) 50% on the third anniversary of the date of grant subject to the total market capitalisation of the Company being 50% higher on the third anniversary of the date of grant compared with the market capitalisation of the Company at the date of the grant.
- END -
Enquiries:
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Velocys Henrik Wareborn, CEO Andrew Morris, CFO Lak Siriwardene, Director of Communications & Sustainability |
+44 1865 800821 |
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Panmure Gordon (UK) Limited (Nomad and Joint Broker) Emma Earl (Corporate Finance) John Prior (Corporate Finance) Hugh Rich (Corporate Broking) |
+44 20 7886 2500 |
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Shore Capital Stockbrokers Limited (Joint Broker) Henry Willcocks (Corporate Broking) Toby Gibbs (Corporate Advisory) James Thomas (Corporate Advisory) |
+44 20 7408 4090 |
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Buchanan (Financial PR) Helen Tarbet Simon Compton |
+44 20 7466 5000 |
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Radnor Capital (Investor Relations) Joshua Cryer Iain Daly |
+44 20 3897 1830 |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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a) Henrik Wareborn b) Andrew Morris |
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2
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Reason for the notification
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a)
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Position/status
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a) Chief Executive Officer b) Chief Financial Officer
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b)
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Initial notification /Amendment |
Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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VELOCYS PLC |
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b)
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LEI |
549300KGMQV70HA5Y715 |
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4
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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 |
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a)
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Description of the financial instrument, type of instrument
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Options over ordinary shares of £0.01 each
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b) |
Identification code |
ISIN: GB00B11SZ269
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c)
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Nature of the transaction
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Grant of share options |
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d)
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Price(s) and volume(s)
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e)
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Aggregated information
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8 pence
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f)
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Date of the transaction
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13 January 2022 |
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g)
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Place of the transaction
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Outside a trading venue |
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Notes to Editors
Velocys is an LSE-listed, international sustainable fuels technology company, traded on the AIM, providing clients with a technology solution to enable the production of negative Carbon Intensity synthetic, drop-in fuels from a variety of waste materials. SAF ('Sustainable Aviation Fuel') is the only commercially available, permanent alternative to fossil aviation fuels.
The technology is IP-protected in all major jurisdictions.
Two reference projects in the US and UK (Bayou Fuels and Altalto) are designed to accelerate the adoption and standardise the Velocys proprietary Fischer Tropsch (FT) technology with an integrated end to end solution, including renewable power and carbon sequestration. Velocys is enabling commercial scale SAF production in response to the clean energy transition.
Velocys technology pathway is enabling the next generation of low carbon sustainable fuels with significant additional positive air quality impacts.