SIMEC Atlantis Energy Limited Grant of Options -- Executive Directors (9444V)
December 17 2021 - 1:59AM
UK Regulatory
TIDMSAE
RNS Number : 9444V
SIMEC Atlantis Energy Limited
17 December 2021
17 December 2021
SIMEC Atlantis Energy Limited
("SAE", the "Company" and, together with its subsidiaries, the
"Group")
Grant of Options - Executive Directors
SAE announces that on 16 December, under the terms of the
Company's long term incentive plan ("LTIP"), the Board has approved
the award and grant of options over 20,300,000 Ordinary Shares in
the Company, representing 2.8% of the Company's existing share
capital. 10,000,000 options have been granted to the following
executive directors:
Executive Director Position Options Granted
Graham Reid Chief Executive Officer 5,000,000
Andrew Charters Chief Financial Officer 5,000,000
The balance of 10,300,000 options has been awarded to a group of
senior employees considered key to the continuing development and
success of the Group.
The options have been granted subject to continued employment
and will vest in three equal annual instalments commencing on the
first anniversary of the date of grant. There are no further
performance conditions. The options have an exercise price of 2.21p
based on the average market price over the 5 days prior to the date
of grant plus 15%, and will be exercisable for a maximum period of
10 years.
Following the grant of the options, the total number of Ordinary
Shares outstanding under the Company's LTIP is 28,891,480,
representing 4% of the Company's issued share capital.
The Board believes it is essential that the Company incentivises
its executive directors and key senior managers to drive the
business forwards and provide an alignment of interest with those
of shareholders.
Enquiries:
SIMEC Atlantis Energy Limited +44 (0) 7739 832 446
Sean Parsons, Director of External Affairs
Investec Bank plc +44 (0) 20 7597 5970
(Nominated adviser and Joint Broker)
Jeremy Ellis
Ben Griffiths
Shalin Bhamra
Arden Partners plc +44 (0) 20 7614 5900
(Joint Broker)
Ruari McGirr
Richard Johnson
Simon Johnson
Notes to Editors
SIMEC Atlantis Energy
SAE is a global developer, owner and operator of sustainable
energy projects with a diverse portfolio in various stages of
development. This includes a 77 per cent. stake in the world's
largest tidal stream power project, MeyGen, 100 per cent. of the
220MW Uskmouth Power Station conversion project and 100 per cent.
of Green Highland Renewables, a leading developer of mini-hydro
projects.
https://www.simecatlantis.com/
More on the MeyGen Project:
https://simecatlantis.com/projects/meygen/
More on the Uskmouth Project:
https://simecatlantis.com/project-development-operation/simec-uskmouth-power/
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END
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