TIDMEXR
RNS Number : 1359I
Engage XR Holdings PLC
03 August 2023
ENGAGE XR Holdings plc
("ENGAGE XR" or the "Group")
Grant of Options
ENGAGE XR Holdings Plc (AIM: EXR), a leading metaverse
technology company, is pleased to announce the grant of options
over a total of 38,700,000 new ordinary shares of EUR0.001 each in
the capital of the Company ("Ordinary Shares") ("Options"). Options
have been granted to David Whelan, Chief Executive Officer, Sandra
Whelan, Chief Operating Officer and Seamus Larrissey, Chief
Financial Officer, as well as to many of the Group's employees.
Following the successful completion of the equity placing
earlier this year, the Remuneration Committee has been evaluating
appropriate solutions to put in place suitable longer-term
incentives aimed at aligning the interests of employees and
shareholders. The option grant will also assist with the retention
and motivation of key employees of the Company as the Company looks
to deliver against the strategic opportunity outlined at the time
of the placing. The Options will provide the potential for rewards
only if shareholders benefit from sustained growth in shareholder
value over the coming years.
The Options have been granted at a price of 4 pence each and
cannot be exercised for at least three years from the date of grant
(other than on a change of control).
The Options have performance criteria linked to the future share
price performance of the Company with:
- One third of the Options being capable of exercise if the five
day volume-weighted average price preceding the date of such
exercise was 12 pence or higher; and
- One third of the Options being capable of exercise if the five
day volume-weighted average price preceding the date of such
exercise was 16 pence or higher; and
- One third of the Options being capable of exercise if the five
day volume-weighted average price preceding the date of such
exercise was 20 pence or higher.
The Options will vest in full on a change of control provided a
minimum price threshold of 10 pence per share is met.
David Whelan and Sandra Whelan have each been granted 13,000,000
options and Seamus Larrissey has granted 3,200,000 options.
Following this grant, the shareholding and options held are as
follows:
Director Existing % of Existing Options Total number Aggregate % of
shareholding ISC options granted of Options shareholding fully
held held & options diluted
ISC
David Whelan 38,665,000 7.4% - 13,000,000 13,000,000 51,665,000 9.1%
-------------- ------ --------- ----------- ------------- -------------- ---------
Sandra Whelan 38,665,000 7.4% - 13,000,000 13,000,000 51,665,000 9.1%
-------------- ------ --------- ----------- ------------- -------------- ---------
Seamus Larrissey 88,000 0.02% 910,940 3,200,000 4,110,940 4,198,940 0.7%
-------------- ------ --------- ----------- ------------- -------------- ---------
Following the grant of these Options, the Company has a total of
42,133,473 shares under option representing approximately 8.0% of
the Company's current issued share capital.
Richard Cooper, Chair of ENGAGE XR said:
"Following our successful equity raise and positive trading
momentum the Group has experienced, after consulting with
institutional shareholders I am pleased confirm that the Groups'
Remuneration Committee has approved this grant of options. We have
a fantastic team here at ENGAGE XR and it is imperative they are
adequately rewarded in recognition of their very significant
efforts in delivering on the undoubted opportunity before us."
For further information contact:
ENGAGE XR Holdings Plc Tel: +353 87 665 6708
David Whelan, CEO info@engagexr.co
Séamus Larrissey, CFO
Sandra Whelan, COO
finnCap Ltd (Nominated Adviser & Joint Tel: +44 (0) 20 7220
Broker) 0500
Marc Milmo/ Seamus Fricker (Corporate Finance)
Sunila de Silva (ECM)
Shard Capital Partners LLP (Joint Broker) Tel: +44 (0) 20 7186
Damon Heath / Erik Woolgar 9952
SEC Newgate (Financial Communications) Tel: +44 (0)7540 106
Robin Tozer / Naz Zandi 366
engage@secnewgate.co.uk
About ENGAGE XR
ENGAGE XR Holdings plc (AIM: EXR) is metaverse technology
company focused on becoming a leading global provider of virtual
communications solutions through its new fully featured corporate
metaverse, ENGAGE Link.
A demonstration of ENGAGE Link is
https://www.youtube.com/watch?v=ITtz7ErWhMs&t=2s
The Company also has a proprietary software platform, ENGAGE.
ENGAGE provides users with a platform for creating, sharing, and
delivering VR content for education, training, and online events
through its three solutions: Virtual Campus, Virtual Office, and
Virtual Events.
For further information, please visit: www.engagexrholdings.com
(LinkedIn: @Engage XR Holdings plc Twitter: @engage_xr)
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them are set out below pursuant to the EU Market
Abuse regulation.
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name David Whelan
----------------------- ---------------------------------------
Reason for the notification
2
----------------------------------------------------------------
a) Position/status Chief Executive Officer
----------------------- ---------------------------------------
b) Initial notification Initial
/Amendment
----------------------- ---------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
----------------------------------------------------------------
a) Name ENGAGE XR Holdings plc
----------------------- ---------------------------------------
b) LEI 213800ESSTWEXIN22767
----------------------- ---------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
----------------------------------------------------------------
a) Description EUR0.001 Ordinary Shares
of the financial
instrument,
type of instrument ISIN: IE00BG0HDR01
Identification
code
----------------------- ---------------------------------------
b) Nature of the Grant of Options over Ordinary Shares
transaction
----------------------- ---------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 4 pence 13,000,000
-----------
----------------------- ---------------------------------------
d) Aggregated information See 4 (c)
- Aggregated
volume
- Price
----------------------- ---------------------------------------
e) Date of the 2 August 2023
transaction
----------------------- ---------------------------------------
f) Place of the Outside a trading venue
transaction
----------------------- ---------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Sandra Whelan
----------------------- ---------------------------------------
Reason for the notification
2
----------------------------------------------------------------
a) Position/status Chief Operating Officer
----------------------- ---------------------------------------
b) Initial notification Initial
/Amendment
----------------------- ---------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
----------------------------------------------------------------
a) Name ENGAGE XR Holdings plc
----------------------- ---------------------------------------
b) LEI 213800ESSTWEXIN22767
----------------------- ---------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
----------------------------------------------------------------
a) Description EUR0.001 Ordinary Shares
of the financial
instrument,
type of instrument ISIN: IE00BG0HDR01
Identification
code
----------------------- ---------------------------------------
b) Nature of the Grant of Options over Ordinary Shares
transaction
----------------------- ---------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 4 pence 13,000,000
-----------
----------------------- ---------------------------------------
d) Aggregated information See 4 (c)
- Aggregated
volume
- Price
----------------------- ---------------------------------------
e) Date of the 2 August 2023
transaction
----------------------- ---------------------------------------
f) Place of the Outside a trading venue
transaction
----------------------- ---------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Seamus Larrissey
----------------------- ---------------------------------------
Reason for the notification
2
----------------------------------------------------------------
a) Position/status Chief Financial Officer
----------------------- ---------------------------------------
b) Initial notification Initial
/Amendment
----------------------- ---------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
----------------------------------------------------------------
a) Name ENGAGE XR Holdings plc
----------------------- ---------------------------------------
b) LEI 213800ESSTWEXIN22767
----------------------- ---------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
----------------------------------------------------------------
a) Description EUR0.001 Ordinary Shares
of the financial
instrument,
type of instrument ISIN: IE00BG0HDR01
Identification
code
----------------------- ---------------------------------------
b) Nature of the Grant of Options over Ordinary Shares
transaction
----------------------- ---------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 4 pence 3,200,000
----------
----------------------- ---------------------------------------
d) Aggregated information See 4 (c)
- Aggregated
volume
- Price
----------------------- ---------------------------------------
e) Date of the 2 August 2023
transaction
----------------------- ---------------------------------------
f) Place of the Outside a trading venue
transaction
----------------------- ---------------------------------------
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END
DSHFLFFATSIFIIV
(END) Dow Jones Newswires
August 03, 2023 02:00 ET (06:00 GMT)
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