Windward Ltd. Admission and Total Voting Rights (2173A)
January 19 2024 - 2:00AM
UK Regulatory
TIDMWNWD
RNS Number : 2173A
Windward Ltd.
19 January 2024
19 January 2024
Windward Ltd.
("Windward", "the Company")
Admission and Total Voting Rights
Windward (LON: WNWD), the leading Maritime AI company, announces
that the Company has today issued a total of 3,000,000 new
non-voting Ordinary Shares to IBI Trust Management (the "Pool
Shares").
As announced on 8 December 2022, the Company appointed IBI Trust
Management to act as supervising trustee in relation to the
Company's share option scheme established in June 2021 (the "Share
Option Scheme").
In order to facilitate the issuance of shares to the Company's
employees or directors following the exercise of share options
and/or vesting of restricted stock units, the Company will shortly
issue the Pool Shares.
The Pool Shares issued to IBI Trust Management will be held in
trust by IBI Trust Management solely to be used to satisfy exercise
of options and/or vesting of restricted stock units that the
Company believe will vest and/or will become exercisable before 31
December 2024 under the Company's Share Option Scheme. IBI Trust
Management have agreed not to exercise voting rights or dividend
rights on the Pool Shares, for as long as they are held by IBI
Trust Management. Once transferred by IBI Trust Management to the
relevant employee or director following the exercise of share
options and/or vesting of restricted stock units, those Pool Shares
transferred will carry ordinary voting and dividend rights and rank
pari passu with the existing issued Ordinary Shares of the Company
in all respects.
Since the Company's IPO, a total of 2,295,032 share options have
been exercised and 1,087,336 restricted stock units have vested. As
at the date of this announcement, 9,849,298 Ordinary Shares are
under option, comprising 4,002,819 restricted stock units granted
and 5,846,479 unexercised share options. Following the issue of the
Pool Shares, the Company has 4,706,286 Ordinary Shares that remain
unallocated, and IBI holds a further 3,634,298 Ordinary Shares that
are held in trust to satisfy exercise of options and/or vesting of
restricted stock units.
Application will be made in due course for the admission of
3,000,000 new Ordinary Shares in the Company to be admitted to
trading on AIM ("Admission"). Following Admission, an updated total
voting rights announcement will be issued. As noted above, until
they have been transferred by IBI Trust Management to the relevant
employee or director following the exercise of share options and/or
vesting of restricted stock units, such new Ordinary Shares will
not carry any voting rights or dividend rights.
For more information, please contact:
Windward Via Alma
Irit Singer, CMO
Canaccord Genuity (Nominated Adviser
& Broker) +44(0)20 7523 8000
Simon Bridges / Andrew Potts
Alma Strategic Communications +44(0)20 3405 0205
Caroline Forde / Kieran Breheny
About Windward
Windward (LON:WNWD), is the leading Predictive Intelligence
company fusing AI and big data to digitalize the global maritime
industry, enabling organizations to achieve business and
operational readiness. Windward's AI-powered solution allows
stakeholders including banks, commodity traders, insurers, and
major energy and shipping companies to make real time, predictive
intelligence-driven decisions, providing a 360deg view of the
maritime ecosystem and its broader impact on safety, security,
finance, and business. The company is publicly
traded on the London Stock Exchange, For more information visit windward.ai .
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END
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