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 2,000,000 |
20p 30p |
5 June 2029 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 or contact:
Insig AI plc 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:
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Richard Bernstein
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2
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Reason for the notification
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a)
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Position/status
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CEO |
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b)
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Initial notification /Amendment
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Initial Notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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Insig AI plc |
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b)
|
LEI
|
21380098CKBAG1NWCD98 |
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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
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a)
|
Description of the financial instrument, type of instrument |
Ordinary Shares of 1 pence each |
|||
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Identification code |
GB00BYV31355 |
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b)
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Nature of the transaction
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Grant of options
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c)
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Price(s) and volume(s) |
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|
|
|
|
|
|
Price(s) |
Volume(s) |
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|
|
|
20 pence 30 pence |
2,000,000 2,000,000 |
|
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|
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d)
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Aggregated information |
N/A single transaction |
|||
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- Aggregated volume |
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- Price |
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e)
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Date of the transaction
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6 June 2024 |
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f)
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Place of the transaction
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London Stock Exchange |
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1
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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 |
|||
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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 |
||||
|
|
|
||||
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b)
|
Nature of the transaction
|
Grant of options
|
|||
|
c)
|
Price(s) and volume(s) |
|
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
|
|
20 pence |
1,000,000
|
|
|
|
|
|
|
|
|
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d)
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Aggregated information |
N/A single transaction |
|||
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||||
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- Aggregated volume |
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- Price |
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||||
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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 |
|||
|
|
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||||
|
- Aggregated volume |
|
||||
|
|
|
||||
|
- Price |
|
||||
|
|
|
||||
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e)
|
Date of the transaction
|
6 June 2024 |
|||
|
f)
|
Place of the transaction
|
London Stock Exchange |
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