Phorm Corporation Limited Announces Adoption of New Share Option Plan and Grant of Options
(firmenpresse) - SINGAPORE -- (Marketwired) -- 12/01/15 -- Phorm Corporation Limited
AIM: PHRM
("Phorm" or the "Company")
Phorm (AIM: PHRM), a leading advertising-technology company and first party data platform provider, announces that, on 30 November 2015, the Board adopted a new share option plan (the "New Share Option Plan") and granted options ("Options") pursuant to the terms of such plan over a total of 93,758,988 new ordinary shares of nil par value each in the capital of the Company ("Ordinary Shares") representing, in aggregate, approximately 9.55 per cent. of the Company's existing issued share capital.
The New Share Option Plan has been adopted as part of the Group's employee incentivisation and retention strategy, and all existing outstanding share options will be cancelled following implementation of the New Share Option Plan.
The Options granted pursuant to the New Share Option Plan all have an expiration date of 30 November 2021 and an exercise price of 2.75 pence, being the middle market closing price of an Ordinary Share on the last business day prior to the date of grant.
19,500,000 Options have been granted to existing executive management (save for Mr Smith as set out below) and a consultant to the Company with vesting of these Options to occur as to 40 per cent. six months from the date of grant and thereafter a further 20 per cent. on each one year anniversary from the date of grant for the subsequent three years. 25,175,000 Options have been granted to existing employees and vesting of these Options will occur as to one third one year from the date of grant and a further third for the subsequent two years on the anniversary of the date of grant.
Tim Smith, Chief Executive Officer of the Company, has been granted 49,083,988 Options pursuant to the New Share Option Plan, representing approximately 5.00 per cent. of the Company's existing issued share capital. The Options granted to Mr Smith vest as to one third on29 January 2016 (being six months after his formal appointment as CEO on 29 July 2015) with the remainder vesting in eighteen equal monthly instalments thereafter.
-Ends-
:
Timothy Smith (Chief Executive Officer)
Jason Woollard
Peter Krens
James Harris Matthew Chandler James Dance
Phorm is a leading advertising-technology and first party data platform provider that enables brands and publishers to address online users with personalised content and advertising. Phorm's innovative platform delivers a more interesting online experience for the user and addressable campaign results for marketers. For more information, please visit:
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Datum: 01.12.2015 - 07:00 Uhr
Sprache: Deutsch
News-ID 436520
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