Checkit PLC Grant of options and PDMR dealings (1601M)
10 Janeiro 2023 - 4:00AM
UK Regulatory
TIDMCKT
RNS Number : 1601M
Checkit PLC
10 January 2023
10 January 2023
Checkit plc
("Checkit" or the "Group")
Grant of options and PDMR dealings
Checkit plc (AIM:CKT) announces that, on 9 January 2023, it
granted options over ordinary shares of 5 pence each ("Ordinary
Shares") to certain PDMRs and employees to subscribe for, in
aggregate, up to 2,310,653 Ordinary Shares under the Group's
existing EMI, CSOP and US Options Schemes (the "Options").
1,205,653 Options granted under the EMI Options Scheme were
granted to four individuals with 30 -month vesting periods. The
vesting period has been reduced by six months for these individuals
(two of whom are PDMRs) to reflect the fact that these awards were
due to have been made to them significantly earlier. It was,
however, not possible to make these awards earlier due to the Group
not meeting the EMI balance sheet and total EMI options cap
requirements at the time, which now no longer prevent Checkit from
awarding the Options. 500,000 Options were granted under the EMI
Options Scheme with 36 - month vesting periods to one PDMR.
Furthermore, 605,000 Options pursuant to the EMI, CSOP, and US
Options Schemes were granted to 34 individuals with three-year
vesting periods.
All Options granted under the EMI, and US Options Schemes are
subject to an EBITDA performance condition. Options can only be
exercised if the Group:
i. is EBITDA breakeven or positive at the date of exercise; and
ii. has been EBITDA breakeven or positive on average over the
six months prior to the date of exercise.
The Options shall expire on the tenth anniversary of the date of
grant.
Following the above awards, the total options outstanding are
7,730,653 (equivalent to 7.16% of Company's issued share
capital).
PDMR Dealings
Included within the above, Options granted to certain PDMRs of
the Group are as follows:
Name Title Options Vesting Total
granted period Options
held
Kit Kyte Chief Executive Officer 500,000 36 months 2,452,500*
------------------------------ --------- ---------- -----------
Gregory Price Chief Financial Officer 845,653 30 months 945,653
------------------------------ --------- ---------- -----------
Chief Product and Technology
David Cottingham Officer 210,000 30 months 210,000
------------------------------ --------- ---------- -----------
*Kit Kyte holds 2,000,000 unapproved EMI Options and 452,500 EMI
Options.
The notification below, made in accordance with the requirements
of the UK Market Abuse Regulation, provides further detail.
Enquiries:
Checkit plc +44 (0)1223 643313
www.checkit.net
John Wilson (Senior Independent Director,
Chairman of Remuneration Committee)
Kit Kyte (Chief Executive Officer)
Greg Price (Chief Financial Officer)
Singer Capital Markets (Nominated Adviser +44 (0) 20 7496
& Broker) 3000
Shaun Dobson / Harry Gooden / George Tzimas
(Investment Banking)
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Gregory Price
--------------------------------- -------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------
a) Position/Status: Chief Financial Officer (PDMR)
--------------------------------- -------------------------------------------
b) Initial Notification/Amendment: Initial Notification
--------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participation,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
a) Name: Checkit Plc
--------------------------------- -------------------------------------------
b) LEI: 213800556WJOWQNT2R68
--------------------------------- -------------------------------------------
4. Details of 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 Options over Ordinary Shares of 5 pence
the financial each
instrument: ISIN GB00B0C5RG72
Identification
code:
--------------------------------- -------------------------------------------
b) Nature of the Grant of options over Ordinary Shares
transaction:
--------------------------------- -------------------------------------------
c) Price(s) and volume(s): Price(s) Exercisable at 23 pence per
Ordinary Share
--------------------------------- ------------ -----------------------------
Volume(s) 845,653
--------------------------------------------------- -----------------------------
d) Aggregated information N/A - single transaction
* Aggregated volume
* Price
--------------------------------- -------------------------------------------
e) Date of the Transaction: 9 January 2023
--------------------------------- -------------------------------------------
f) Place of the Transaction: Outside a trading venue
--------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name: David Cottingham
--------------------------------- -----------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------
a) Position/Status: Chief Product and Technology Officer (PDMR)
--------------------------------- -----------------------------------------------
b) Initial Notification/Amendment: Initial Notification
--------------------------------- -----------------------------------------------
3 Details of the issuer, emission allowance market participation,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------
a) Name: Checkit Plc
--------------------------------- -----------------------------------------------
b) LEI: 213800556WJOWQNT2R68
--------------------------------- -----------------------------------------------
4. Details of 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 Options over Ordinary Shares of 5 pence
the financial each
instrument: ISIN GB00B0C5RG72
Identification
code:
--------------------------------- -----------------------------------------------
b) Nature of the Grant of options over Ordinary Shares
transaction:
--------------------------------- -----------------------------------------------
c) Price(s) and volume(s): Price(s) Exercisable at 23 pence per
Ordinary Share
--------------------------------- ------------- --------------------------------
Volume(s) 210,000
---------------------------------------------------- --------------------------------
d) Aggregated information N/A - single transaction
* Aggregated volume
* Price
--------------------------------- -----------------------------------------------
e) Date of the Transaction: 9 January 2023
--------------------------------- -----------------------------------------------
f) Place of the Transaction: Outside a trading venue
--------------------------------- -----------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Kit Kyte
--------------------------------- -------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------
a) Position/Status: Chief Executive Officer (PDMR)
--------------------------------- -------------------------------------------
b) Initial Notification/Amendment: Initial Notification
--------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participation,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
a) Name: Checkit Plc
--------------------------------- -------------------------------------------
b) LEI: 213800556WJOWQNT2R68
--------------------------------- -------------------------------------------
4. Details of 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 Options over Ordinary Shares of 5 pence
the financial each
instrument: ISIN GB00B0C5RG72
Identification
code:
--------------------------------- -------------------------------------------
b) Nature of the Grant of options over Ordinary Shares
transaction:
--------------------------------- -------------------------------------------
c) Price(s) and volume(s): Price(s) Exercisable at 23 pence per
Ordinary Share
--------------------------------- ------------ -----------------------------
Volume(s) 500,000
--------------------------------------------------- -----------------------------
d) Aggregated information N/A - single transaction
* Aggregated volume
* Price
--------------------------------- -------------------------------------------
e) Date of the Transaction: 9 January 2023
--------------------------------- -------------------------------------------
f) Place of the Transaction: Outside a trading venue
--------------------------------- -------------------------------------------
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END
MSCKKLFBXFLFBBQ
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January 10, 2023 02:00 ET (07:00 GMT)
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