Insig AI Plc Issue of Options and PDMR dealing (9379D)
March 08 2022 - 2:01AM
UK Regulatory
TIDMINSG
RNS Number : 9379D
Insig AI Plc
08 March 2022
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. It forms part of United Kingdom
domestic law by virtue of the European Union (Withdrawal) Act 2018.
Upon the publication of this announcement, this inside information
is now considered to be in the public domain.
8 March 2022
Insig AI plc
("Insig AI" or the "Company")
Issue of Options and PDMR dealing
Insig AI plc (AIM: INSG), the data science and machine learning
group, has agreed to issue Colm McVeigh, Chief Commercial Officer
and a director of Insig AI and certain employees with options over
a total of 3,350,000 ordinary shares of 1 pence each in the capital
of the Company (together, the "Options") with an exercise price of
48 pence (the "Exercise Price"). The Exercise Price represents a
substantial premium of approximately 75% to the Company's closing
share price of 27.5 pence on 7 March 2022. Due to the substantial
premium of the Exercise Price, there are no financial performance
metrics attached to the Options. The vesting of the Options is
conditional on the continued employment of the option holder which
also lapse should the option holder no longer be employed by the
Company. A schedule of the Options granted is set out below:
Number of Options Vesting period
4 October 2024 - 7 March
Colm McVeigh (PDMR) 2,000,000 2032
4 August 2024 - 7 March
Other employees 900,000 2032
4 January 2025 - 7 March
Other employees 150,000 2032
4 March 2025 - 7 March
Other employees 300,000 2032
The granting of the Options to Colm McVeigh follows his
appointment announcement on 10 November 2021.
For further information, please visit www.insg.ai or
contact:
Insig AI plc Via SEC Newgate
Steve Cracknell (CEO)
Zeus Capital Limited (Nominated
Adviser & Broker)
David Foreman / James Hornigold
/ Danny Philips +44 (0) 20 3829 5000
SEC Newgate (Financial PR) +44 (0) 7540 106 366
Robin Tozer / Richard Bicknell insigai@secnewgate.co.uk
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Colm McVeigh
----------------------------------------- -------------------------------------
2. Reason for the notification
--------------------------------------------------------------------------------
a) Position/status: Director
----------------------------------------- -------------------------------------
b) Initial notification/Amendment: Initial notification
----------------------------------------- -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------
a) Name: Insig AI Plc
----------------------------------------- -------------------------------------
b) LEI: 21380098CKBAG1NWCD98
----------------------------------------- -------------------------------------
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, Ordinary shares of 1
type of instrument: pence
Identification code: GB00BYV31355
----------------------------------------- -------------------------------------
b) Nature of the transaction: Grant of options over
ordinary shares
----------------------------------------- -------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
48 pence 2,000,000
----------
----------------------------------------- -------------------------------------
d) Aggregated information: Single transaction as
Aggregated volume: in 4 c) above Price(s) Volume(s)
Price: 48 pence 2,000,000
----------
----------------------------------------- -------------------------------------
e) Date of the transaction: 7 March 2022
----------------------------------------- -------------------------------------
f) Place of the transaction: Off-market
----------------------------------------- -------------------------------------
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END
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