19 November 2024
Cykel AI PLC
("Cykel" or the "Company")
Grant of Share Options and Notification of Transactions by Persons Discharging Managerial Responsibilities ("PDMRs")
Cykel (LSE:CYK) announces that it has granted options over a total of 33,000,000 ordinary shares of £0.01 each ("Options"), details of which are set out below. The Options are exercisable at 5.25p per share, a 44% premium to the current share price, lapse on the 10th anniversary of the Vesting Start Date, and vest over a period of 2 years starting from their respective Vesting Start Date, with 12/36ths vesting on the Vesting Start Date, and thereafter a further 1/36th of the Options vesting each month.
A total of 26,000,000 Options were granted pursuant to the Company's Enterprise Management Incentive ("EMI") Option Plan. Of these, 6,000,000 Options were granted to employees of the Company and their respective Vesting Date is 1 June 2024, and 20,000,000 Options were granted to Ewan Colling (CEO), Director/Person Discharging Managerial Responsibilities, and Ewan's Vesting Date is 8 October 2024.
A total of 7,000,000 Options were granted to certain advisors, outside its EMI Option Plan (non-EMI qualifying Options). Their Vesting Start Date is 1 October 2024.
For further information, please contact:
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Cykel AI plc
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Ewan Collinge |
Via First Sentinel
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First Sentinel (Financial Adviser)
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Brian Stockbridge
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+44 (0) 7858 888 007 |
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Clear Capital Markets (Broker)
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Bob Roberts |
+44 (0) 20 3869 6080 |
The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
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1. |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Ewan Collinge |
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2. |
Reason for the Notification |
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a) |
Position/status |
Director and Chief Executive Officer |
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b) |
Initial notification / Amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Cykel AI PLC |
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b) |
LEI |
213800QEO6L6JAS62H02 |
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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 |
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ISIN |
GB00BJ9MHH56 |
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b) |
Nature of the transaction |
Grant of an option over ordinary shares under the Employee Option Plan |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information: · Aggregated volume · Price |
See 4 (c) above |
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e) |
Date of the transaction |
19 November 2024 |
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f) |
Place of the Transaction |
Outside trading venue |
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