TIDMUVEN

RNS Number : 8913M

Uvenco UK plc

02 August 2017

2 August 2017

Uvenco UK plc

Grant of Options

Uvenco UK plc ("Uvenco", the "Company" or the "Group") announces that on 2 August 2017 an aggregate of 5 million options over new ordinary shares of 2p each in the Company, at an exercise price of 12 pence per share ("Options"), were granted as set out below.

Sergei Kornienko, Chief Executive, has been granted 3 million Options which will be exercisable between the third and tenth year of grant and will vest as to 1 million immediately; a further 1 million if the Company's audited EBITDA for the year ended 31 December 2017 exceeds GBP500k; and the remaining 1 million if the Company's audited EBITDA for the year ended 31 December 2018 exceeds GBP600k.

In addition, each of Peter Goodman (PDMR, Chief Financial Officer) and Steve Cunliffe (Operations Manager) have been granted 1 million Options which will be exercisable between the third and tenth year of grant and will vest as to 0.5 million each if the Company's audited EBITDA for the year ended 31 December 2017 exceeds GBP500k; and the remaining 0.5 million each if the Company's audited EBITDA for the year ended 31 December 2018 exceeds GBP600k.

Enquiries

   Uvenco UK plc                                  Tel: 020 8879 8300

Sergei Kornienko, CEO

Peter Goodman, CFO

   Stockdale Securities                       Tel: 020 7601 6100

Tom Griffiths / Richard Johnson

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

August 02, 2017 06:10 ET (10:10 GMT)

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