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Grant of options

 

2 August 2017

Uvenco UK plc

Grant of Options

Uvenco UK plc ("Uvenco", the "Company" or the "Group") announces that on 2 August 2017 an aggregate of 5 million options over new ordinary shares of 2p each in the Company, at an exercise price of 12 pence per share (“Options”), were granted as set out below.

Sergei Kornienko, Chief Executive, has been granted 3 million Options which will be exercisable between the third and tenth year of grant and will vest as to 1 million immediately; a further 1 million if the Company’s audited EBITDA for the year ended 31 December 2017 exceeds £500k; and the remaining 1 million if the Company’s audited EBITDA for the year ended 31 December 2018 exceeds £600k.

In addition, each of Peter Goodman (PDMR, Chief Financial Officer) and Steve Cunliffe (Operations Manager) have been granted 1 million Options which will be exercisable between the third and tenth year of grant and will vest as to 0.5 million each if the Company’s audited EBITDA for the year ended 31 December 2017 exceeds £500k; and the remaining 0.5 million each if the Company’s audited EBITDA for the year ended 31 December 2018 exceeds £600k.   

 

Enquiries

Uvenco UK plc                                  Tel: 020 8879 8300

Sergei Kornienko, CEO

Peter Goodman, CFO

 

Stockdale Securities                       Tel: 020 7601 6100

Tom Griffiths / Richard Johnson

Original LSE: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/UVEN/13316788.html