REG - ADVFN PLC - Issue of Equity
16/05/2024 07:00
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RNS Number : 6140O ADVFN PLC 16 May 2024
For immediate release
16 May 2024
ADVFN plc
("ADVFN" or the "Company")
Director / PDMR shareholding
Issue of equity
As announced on 9 June 2023, the Board adopted a new option scheme for
Directors and employees ("Scheme"), and a copy of the Scheme rules is
available from the Company's website at www.advfnplc.com
(http://www.advfnplc.com) .
Pursuant to the Scheme, on 15 May 2024 the Board awarded new options for
645,300 ordinary shares of 0.2p in the Company ("Ordinary Shares") to
directors and management ("Options"). New Options for 315,300 were awarded to
the executive Directors ("Director Options") and 330,000 new Options were
awarded to management ("Management Options").
The new Director Options represent approximately 0.7% per cent. of the
Company's current issued share capital. Further details of the new Director
Options awards are set out in the table below and in the Appendix:
Director New Options awarded Exercise price Vesting exercise date Exercise term
Amit Tauman 291,300 13p Vest over three years in equal tranches of one-third per annum, vesting very 7 years from grant
four months
Matthew Collom 24,000 13p Vest over three years in equal tranches of one-third per annum, vesting very 7 years from grant
four months
The Director Options have an exercise price of 13p per Ordinary Share, which
represents a premium of approximately 24 per cent. to the last closing
mid-market price of 10.5p per Ordinary Share. 90,000 Management Options have
an exercise price of 13p per Ordinary Share and vest quarterly over four years
in equal tranches. The balance of the Management Options have an exercise
price of 33p per Ordinary Share and vest every four months over three years in
equal tranches. All the Management Options have an exercise period of 7 years
from grant.
Following this award of new Options, the Company has a total of 1,455,300
ordinary shares under option, equivalent to approximately 3.16% per cent of
the Company's current issued ordinary share capital.
Issue of equity
As previously announced on 9 June 2023, the Board agreed to issue, subject to
shareholder approval, 220,000 new Ordinary Shares to each of the non-executive
directors, Lord Gold and Anthony Wollenberg, in recognition of their
contribution to the reorganisation of the Company and the Open Offer following
the Board changes implemented in 2022 ("Compensation Shares"). In aggregate
440,000 Compensation Shares were to be issued, of which 280,000 Compensation
Shares were to be issued following approval by shareholders with the balance
subject to vesting conditions.
Following the approval by shareholders of the necessary special resolution to
disapply pre-emption rights at the Annual General Meeting held in December
2023, the Board has today now issued 140,000 Compensation Shares due to each
of Tony Wollenberg and Lord Gold (amounting to 280,000 Compensation Shares in
aggregate). Application has been made for 280,000 Ordinary Shares, which will
rank pari passu with the existing Ordinary Shares, to be admitted to trading
on AIM which is expected to take effect on or about 22 May 2024. Further
details on the Compensation Shares, including the vesting conditions, were set
out in the announcement dated 9 June 2023.
For further information please contact:
ADVFN plc +44 (0) 203 8794 460
Amit Tauman (CEO)
Beaumont Cornish Limited (Nominated Adviser) +44 (0) 207 628 3396
Michael Cornish
Roland Cornish
Peterhouse Capital Limited (Broker) +44 (0) 207 469 0930
Eran Zucker
Lucy Williams
Rose Greensmith
Beaumont Cornish Limited, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting as nominated adviser to
the Company in relation to the matters referred herein. Beaumont Cornish
Limited is acting exclusively for the Company and for no one else in relation
to the matters described in this announcement and is not advising any other
person and accordingly will not be responsible to anyone other than the
Company for providing the protections afforded to clients of Beaumont Cornish
Limited, or for providing advice in relation to the contents of this
announcement or any matter referred to in it.
APPENDIX
The notification below, made in accordance with the requirements of the EU
Market Abuse Regulations, provides further detail in respect of the
transaction as described above.
1 Details of the person discharging managerial responsibilities /
person closely associated
a) Name Amit Tauman
2 Reason for notification
a) Position / status Chief Executive
b) Initial notification Initial
/Amendment
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name ADVFN plc
b) LEI 21380042SDV1E1ZVIY40
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, type of instrument Ordinary shares of 0.2 pence each in ADVFN plc
Identification code ISIN GB00BPT24C10
Nature of the transaction Issued pursuant to an award of share options by the Company
Price(s) and volumes(s) Exercise Price(s) Volumes(s)
£0.13 291,300 options
d) Aggregated information n/a
e) Date of the transaction 15 May 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
n/a
e)
Date of the transaction
15 May 2024
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities /
person closely associated
a) Name Matthew Collom
2 Reason for notification
a) Position / status Director
b) Initial notification Initial
/Amendment
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name ADVFN plc
b) LEI 21380042SDV1E1ZVIY40
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, type of instrument Ordinary shares of 0.2 pence each in ADVFN plc
Identification code ISIN GB00BPT24C10
Nature of the transaction Issued pursuant to an award of share options by the Company
Price(s) and volumes(s) Exercise Price(s) Volumes(s)
£0.13 24,000 options
d) Aggregated information n/a
e) Date of the transaction 15 May 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
n/a
e)
Date of the transaction
15 May 2024
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities /
person closely associated
a) Name Lord Gold
2 Reason for notification
a) Position / status Director
b) Initial notification Initial
/Amendment
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name ADVFN plc
b) LEI 21380042SDV1E1ZVIY40
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, type of instrument Ordinary shares of 0.2 pence each in ADVFN plc
Identification code ISIN GB00BPT24C10
Nature of the transaction Issued in settlement of services provided to the Company
Price(s) and volumes(s) Price(s) Volumes(s)
£0.105 140,000
d) Aggregated information n/a
e) Date of the transaction 15 May 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
n/a
e)
Date of the transaction
15 May 2024
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities /
person closely associated
a) Name Tony Wollenberg
2 Reason for notification
a) Position / status Director
b) Initial notification Initial
/Amendment
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name ADVFN plc
b) LEI 21380042SDV1E1ZVIY40
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, type of instrument Ordinary shares of 0.2 pence each in ADVFN plc
Identification code ISIN GB00BPT24C10
Nature of the transaction Issued in settlement of services provided to the Company
Price(s) and volumes(s) Price(s) Volumes(s)
£0.105 140,000
d) Aggregated information n/a
e) Date of the transaction 15 May 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
n/a
e)
Date of the transaction
15 May 2024
f)
Place of the transaction
Outside a trading venue
ENDS
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