TIDMSTAR
RNS Number : 6046Z
Starcom PLC
24 May 2021
24 May 2021
Starcom PLC
("Starcom" or the "Company")
Exercise of options, issue of shares to directors, grant of
options and
change to total voting rights
Starcom (AIM: STAR), which specialises in the development of
wireless, Internet-of-Things (IoT) based solutions for the remote
tracking, monitoring and protection of a variety of assets,
announces the exercise of options, issue of shares in lieu of fees
and grant of options.
Exercise of options
Avi Hartmann, CEO, and Michael Rosenberg, Chairman, have
exercised 2,960,000 and 600,000 options over ordinary shares in the
Company ("Ordinary Shares") respectively, pursuant to the options
granted to them under the Company's share option scheme in lieu of
salary and fees, as announced on 17 June 2019. The options were
exercisable at nil cost and will be satisfied by the issue of
3,560,000 Ordinary Shares (the "Option Shares"). Their new
shareholdings are shown in the table below.
Issue of shares in lieu of director fees
The Non-Executive Directors of Starcom, Michael Rosenberg, Avi
Engel and Martin Blair (the "NEDs"), are each owed salary and fees,
as to GBP59,557 for Michael Rosenberg for 18 months to 31 May 2021
and GBP34,800 for each of Avi Engel and Martin Blair for 14 months
to 31 May 2021. The NEDs have agreed that 60 per cent. of that
amount can be satisfied in Ordinary Shares. Accordingly, an
aggregate of 9,686,775 Ordinary Shares (the "Fee Shares"),
representing approximately 2.76 per cent. of the current issued
share capital, will be issued to them as set out in the table
below. The Fee Shares will be issued at 0.8p per share, being the
most recent closing offer price for Ordinary Shares.
The remaining salaries and fees owed to the NEDs of, in
aggregate, GBP51,663 will be paid in instalments over a 12 month
period starting on 1 July 2021 or earlier if cashflow permits.
In addition, and to help conserve the Company's cash position,
the Non-Executive Directors are proposing to receive Ordinary
Shares and/or options for part of their fees for the next 12
months. The details of these proposals are still to be finalised by
the Board and further announcements will be made in due course.
Admission to AIM
Application will be made for the Option Shares and Fee Shares,
which will rank pari passu with the Company's existing Ordinary
Shares, to be admitted to trading on AIM ("Admission"). It is
anticipated that Admission will become effective on 28 May
2021.
Director shareholdings
As result of the issue of the Option Shares and Fee Shares, the
shareholdings of the Directors of the Company on Admission will be
as follows:
Director No. of Option No. of Fee Total no. Percentage
Shares to Shares to of Ordinary of issued
be issued be issued Shares held share capital
on Admission of the Company
held on Admission
Michael Rosenberg 600,000 4,466,775 8,626,391 2.37
-------------- ----------- -------------- -------------------
Avi Hartmann 2,960,000 - 33,308,224 9.13
-------------- ----------- -------------- -------------------
Igor Vatenmacher - - 250,000 0.07
-------------- ----------- -------------- -------------------
Avi Engel - 2,610,000 3,108,334 0.85
-------------- ----------- -------------- -------------------
Martin Blair - 2,610,000 2,610,000 0.72
-------------- ----------- -------------- -------------------
Grant of options
The Remuneration Committee has today approved the grant of
options to certain directors and employees of the Company to
subscribe for new Ordinary Shares under the Company's share option
scheme as follows (the "Scheme Options"):
- Avi Hartmann (CEO): 1,000,000 Scheme Options
- Igor Vatenmacher (CFO): 1,000,000 Scheme Options
- Uri Hartmann (CTO): 1,000,000 Scheme Options
- Other employees: 1,000,000 Scheme Options
The Scheme Options granted to Avi Hartmann, Igor Vatenmacher and
Uri Hartmann will become exercisable, subject to their continued
employment with the Company, over three years as to one third at
1.5p per share from the first anniversary of the date of grant, one
third at 2p per share from the second anniversary of date of grant
and one third at 2.5p per share from the third anniversary of date
of grant.
The Scheme Options to be granted to other employees will become
exercisable, subject to their continued employment with the
Company, at 1.25p per share over three years as to one third from
the first anniversary of the date of grant, one third from the
second anniversary of date of grant and one third from the third
anniversary of date of grant.
The Scheme Options expire 10 years after date of grant. Pursuant
to the Company's share option scheme, the Scheme Options will be
subject to certain customary good leaver and bad leaver
provisions.
The Company now has a total of 46,227,280 options over new
ordinary shares outstanding, which will represent 12.67 per cent.
of the Company's issued share capital on Admission.
Total options
Following the exercise of options and grant of the Scheme
Options, the Directors of the Company hold the following options
over new Ordinary Shares:
Director Total no. of options Percentage of issued
over new Ordinary share capital represented
Shares held by options on Admission
Michael Rosenberg 7,056,043 1.93
--------------------- ---------------------------
Avi Hartmann 9,323,420 2.56
--------------------- ---------------------------
Igor Vatenmacher 3,000,000 0.82
--------------------- ---------------------------
Avi Engel 7,921,710 2.17
--------------------- ---------------------------
Martin Blair 2,910,000 0.80
--------------------- ---------------------------
Total Voting Rights
On Admission, the Company's issued ordinary share capital will
comprise 364,726,576 Ordinary Shares. The Company does not hold any
shares in treasury. Therefore, the total number of Ordinary Shares
with voting rights in the Company will be 364,726,576. This figure
may be used by shareholders in the Company as the denominator for
the calculations by which they will determine if they are required
to notify their interest in, or a change in their interest in, the
voting rights of the Company under the FCA's Disclosure Guidance
and Transparency Rules.
For further information please contact:
Starcom Plc
Michael Rosenberg, Chairman 07785 727595
Avi Hartmann, CEO +972 5477 35663
Allenby Capital Limited (Nominated Adviser
and Joint Broker)
Jeremy Porter/Piers Shimwell 020 3328 5656
Peterhouse Capital Limited (Joint Broker)
Lucy Williams/Charles Goodfellow/Eran Zucker 020 7469 0930
Leander PR (Financial PR)
Christian Taylor-Wilkinson 07795 168 157
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Avi Hartmann
--------------------------- ----------------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------------- ----------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Starcom plc
--------------------------- ----------------------------------------
b) LEI 213800XVU7WF3QMF4826
--------------------------- ----------------------------------------
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 Ordinary Shares of no par value
the financial instrument,
type of instrument Identification code (ISIN) for Starcom
Identification plc ordinary shares: JE00B8WSDY21
code
--------------------------- ----------------------------------------
b) Nature of the transaction Exercise of share options over ordinary
shares
--------------------------- ----------------------------------------
c) Price(s) and volume(s) 2,960,000 at nil cost
--------------------------- ----------------------------------------
d) Aggregated information Volume(s)
- Aggregated volume Price(s)
- Price Nil 2,960,000
----------
--------------------------- ----------------------------------------
e) Date of the transaction 24 May 2021
--------------------------- ----------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Michael Rosenberg
-------------------------- --------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status Chairman
-------------------------- --------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Starcom plc
-------------------------- --------------------------------------------
b) LEI 213800XVU7WF3QMF4826
-------------------------- --------------------------------------------
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 Ordinary Shares of no par value
financial instrument,
type of instrument Identification code (ISIN) for Starcom plc
Identification ordinary shares: JE00B8WSDY21
code
-------------------------- --------------------------------------------
b) Nature of the transaction Exercise of share options over ordinary
shares
-------------------------- --------------------------------------------
c) Price(s) and volume(s) 600,000 at nil cost
-------------------------- --------------------------------------------
d) Aggregated information Volume(s)
- Aggregated volume Price(s)
- Price Nil 600,000
----------
-------------------------- --------------------------------------------
e) Date of the transaction 24 May 2021
-------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- --------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Michael Rosenberg (Chairman)
Avi Engel (Non-executive Director)
Martin Blair (Non-Executive Director)
-------------------------- --------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status See 1 a) above
-------------------------- --------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Starcom plc
-------------------------- --------------------------------------------
b) LEI 213800XVU7WF3QMF4826
-------------------------- --------------------------------------------
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 Ordinary Shares of no par value
financial instrument,
type of instrument Identification code (ISIN) for Starcom plc
Identification ordinary shares: JE00B8WSDY21
code
-------------------------- --------------------------------------------
b) Nature of the transaction Issue of ordinary shares in consideration
of payment of outstanding fees
-------------------------- --------------------------------------------
c) Price(s) and volume(s) Director/PDMR Price(s) Volume(s)
Michael Rosenberg 0.8p 4,466,775
--------- ----------
Avi Engel 0.8p 2,610,000
--------- ----------
Martin Blair 0.8p 2,610,000
--------- ----------
-------------------------- --------------------------------------------
d) Aggregated information Volume(s)
- Aggregated volume Price(s)
- Price 0.8p 9,686,775
----------
-------------------------- --------------------------------------------
e) Date of the transaction 24 May 2021
-------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- --------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Avi Hartmann (Chief Executive Officer)
Igor Vatenmacher (Chief Financial Officer)
Uri Hartmann (Chief Technology Officer)
-------------------------- --------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status See 1a) above
-------------------------- --------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Starcom plc
-------------------------- --------------------------------------------
b) LEI 213800XVU7WF3QMF4826
-------------------------- --------------------------------------------
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 Options to acquire new Ordinary Shares of
financial instrument, no par value
type of instrument
Identification Identification code (ISIN) for Starcom plc
code ordinary shares: JE00B8WSDY21
-------------------------- --------------------------------------------
b) Nature of the transaction Grant of Options to acquire new Ordinary
Shares
-------------------------- --------------------------------------------
c) Price(s) and volume(s) Director/PDMR Price(s) Volume(s)
Avi Hartmann 1.5p 333,333
--------- ----------
Avi Hartmann 2p 333,333
--------- ----------
Avi Hartmann 2.5p 333,334
--------- ----------
Igor Vatenmacher 1.5p 333,333
--------- ----------
Igor Vatenmacher 2p 333,333
--------- ----------
Igor Vatenmacher 2.5p 333,334
--------- ----------
Uri Hartmann 1.5p 333,333
--------- ----------
Uri Hartmann 2p 333,333
--------- ----------
Uri Hartmann 2.5p 333,334
--------- ----------
-------------------------- --------------------------------------------
d) Aggregated information 3,000,000 options over Ordinary Shares
- Aggregated volume Average price: 2p
- Price
-------------------------- --------------------------------------------
e) Date of the transaction 24 May 2021
-------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- --------------------------------------------
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END
DSHUSSRRANUVUAR
(END) Dow Jones Newswires
May 24, 2021 06:48 ET (10:48 GMT)
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