17 April 2024
Ocean Harvest Technology Group plc
("OHT", the "Company", or the "Group")
Grant of Options
Ocean Harvest Technology Group Plc (AIM: OHT), a leading researcher, developer and supplier of proprietary blended seaweed products as functional additives for the global animal feed industry, announces the grant of options to two of its executives under the Company's Share Option Plan.
Chris Scott (Chief Financial Officer) and Nico Stein (Chief Commercial Officer) have each been granted 1,385,857 options (the "Options"). This corresponds to the amount of options which have either been forfeited since the IPO or are due to be forfeited in 2024 by employees leaving OHT. There is hence no dilution from the grant of these new options over and above the dilution potential that was present from employee options at the time of the Company's IPO.
The Options have a term of 10 years and are exercisable in four tranches at a price of £0.01 each, with each tranche vesting once the share price target for that tranche has been met and a minimum 2 years' service has been completed.
All options are subject to a 12-month holding period from the date of vesting and may not be exercised whilst the Company's share price is below £0.192 and are also subject to both malus and clawback provisions and good and bad leaver provisions. All unvested Options will vest in certain corporate events such as a takeover of the company or a change of control. In these circumstances the Options would normally vest and become exercisable in full unless the Board decides that the Options will be pro-rated to take account of the date the corporate event took place during the normal vesting period. Full details of the Share Option Plan are set out in the Company's Admission Document.
For more information please contact:
| Ocean Harvest Technology Group plc | Tel: +44 (0) 1737 735018
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Mark Williams, CEO / Chris Scott, CFO
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| Cavendish Capital Markets Limited (Nominated Adviser and Sole Broker) | Tel: +44 020 7220 0500 |
| Geoff Nash / Seamus Fricker / George Dollemore (Corporate Finance)
Tim Redfern / Harriet Ward (ECM) |
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Notes to Editors
Ocean Harvest Technology Group plc is a global leader in the development and commercialisation of value adding proprietary products from blending multiple species of seaweed. The Company provides a range of natural additives focused on improving animal performance and the sustainability of the feed chain, through its unique and proven proprietary seaweed blends. The Company sources its seaweed globally, utilising sustainable and socially responsible harvesting of largely wild blooming seaweed species. Its products are produced in its facility in Vietnam and sold into the $40bn animal feed additive sector in multiple markets across the world.
For more information, please visit www.oceanharvesttechnology.com.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
| a) | Name | Christopher Scott | |||||||||
| 2. | Reason for the Notification | ||||||||||
| a) | Position/status | Chief Financial Officer | |||||||||
| b) | Initial notification/Amendment | Initial Notification | |||||||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| a) | Name | Ocean Harvest Technology Group plc | |||||||||
| b) | LEI | 213800XTESSAZATP8Q19 | |||||||||
| 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 Financial instrument, type of instrument | Ordinary Shares of 1 pence each | |||||||||
| Identification code | GB00BQKR6R17 | ||||||||||
| b) | Nature of the transaction | Grant of options | |||||||||
| c) | Price(s) and volume(s) |
| |||||||||
| d) | Aggregated information: · Aggregated volume · Price |
N/A | |||||||||
| e) | Date of the transaction | 17 April 2024 | |||||||||
| f) | Place of the transaction | Outside a trading venue | |||||||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
| a) | Name | Nico Stein | |||||||||
| 2. | Reason for the Notification | ||||||||||
| a) | Position/status | Chief Commercial Officer | |||||||||
| b) | Initial notification/Amendment | Initial Notification | |||||||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| a) | Name | Ocean Harvest Technology Group plc | |||||||||
| b) | LEI | 213800XTESSAZATP8Q19 | |||||||||
| 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 Financial instrument, type of instrument | Ordinary Shares of 1 pence each | |||||||||
| Identification code | GB00BQKR6R17 | ||||||||||
| b) | Nature of the transaction | Grant of options | |||||||||
| c) | Price(s) and volume(s) |
| |||||||||
| d) | Aggregated information: · Aggregated volume · Price |
N/A | |||||||||
| e) | Date of the transaction | 17 April 2024 | |||||||||
| f) | Place of the transaction | Outside a trading venue | |||||||||
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