REG - Insig AI Plc - Grant of options

Insig AiAnnouncement

06/06/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240606:nRSF3246Ra&default-theme=true

RNS Number : 3246R  Insig AI Plc  06 June 2024

6 June 2024

Insig AI plc

("Insig AI" or the "Company")

 

Grant of Share Options

 

Insig AI plc (AIM: INSG), the data science and machine learning group,
announces the grant of share options over 7,800,000 ordinary shares of 1 pence
each in the Company ("Ordinary Shares") to certain Directors and employees
with an expiry date of 5 June 2029 (the "Options").

 

The Options vest equally over a three-year period, on the first, second and
third anniversary of the date of grant and are subject to certain vesting
criteria, namely:

 

-     Revenue exceeding £2.0m for a preceding 12 month rolling period
(50% of the award); and

-     Revenue exceeding £3.0m for a preceding 12 month rolling period
(50% of the award)

 

Schedule of Options:

 

                      Position               Date of grant  No. Options granted  Exercise price  Expiry date
 Richard Bernstein    CEO                    6 June 2024    2,000,000            20p             5 June 2029

                                                            2,000,000            30p             5 June 2029
 Steven Cracknell     Chief Product Officer  6 June 2024    1,000,000            20p             5 June 2029
 Warren Pearson       PDMR                   6 June 2024    1,000,000            20p             5 June 2029
 Employees (various)  N/A                    6 June 2024    1,800,000            20p             5 June 2029

 

Following the grant of the Options, the Company now has a total of 8,375,000
share options in issue, which represents 7.1% of the current issued share
capital.

 

For further information, please visit www.insg.ai
(https://url.uk.m.mimecastprotect.com/s/c1dWCZVA7t591jmCj6A-8?domain=insg.ai)
or contact:

 

Insig AI
plc
        richard.bernstein@insg.ai (mailto:richard.bernstein@insg.ai)

Richard Bernstein (CEO)

 

Zeus (Nominated Adviser & Broker)

David Foreman / James Hornigold
 
+44 (0)20 3829 5000

 

 

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                                                         Richard Bernstein

 2    Reason for the notification

 a)   Position/status                                              CEO

 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, type of instrument  Ordinary Shares of 1 pence each

      Identification code                                          GB00BYV31355

 b)   Nature of the transaction                                    Grant of options

 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     20 pence          2,000,000

                                                                                     30 pence          2,000,000

 d)   Aggregated information                                       N/A single transaction

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      6 June 2024

 f)   Place of the transaction                                     London Stock Exchange

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Steven Cracknell

 2    Reason for the notification

 a)   Position/status                                              Chief Product Officer

 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, type of instrument  Ordinary Shares of 1 pence each

      Identification code                                          GB00BYV31355

 b)   Nature of the transaction                                    Grant of options

 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     20 pence          1,000,000

 d)   Aggregated information                                       N/A single transaction

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      6 June 2024

 f)   Place of the transaction                                     London Stock Exchange

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Warren Pearson

 2    Reason for the notification

 a)   Position/status                                              PDMR

 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, type of instrument  Ordinary Shares of 1 pence each

      Identification code                                          GB00BYV31355

 b)   Nature of the transaction                                    Grant of options

 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     20 pence          1,000,000

 d)   Aggregated information                                       N/A single transaction

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      6 June 2024

 f)   Place of the transaction                                     London Stock Exchange

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHUPUCGQUPCPPA