Grant of Options to Employees and Director/PDMR
Crossword Cybersecurity Plc (NEX:CCS, “Crossword” or the “Company”), the technology commercialisation company focusing exclusively on the cyber security sector, is pleased to announce that 9,936 options have been granted under the Company’s Enterprise Management Incentive Scheme (the “EMI Plan”); 2,000 to four employees, and 7,936 to Mary Dowd, the Company’s Finance Director.
The Company adopted the EMI Plan on 21 May 2014. The EMI Plan allows the grantee of options to acquire fully paid Ordinary Shares to eligible employees (“Options”). Options are non-transferable, other than on death, and are non-pensionable.
The 9,936 Options, which were granted on 24 October 2018, vest in three equal tranches on first, second and third anniversary of the date of grant and are exercisable into 9,936 Ordinary Shares at a price of £3.15 per share.
Following this grant of options, the total number of Options outstanding under the EMI Plan will be 49,429. A further 101,415 Options are outstanding under an unapproved share scheme. The total number of Options outstanding following this grant will be 150,844 representing 3.64% of Crossword’s total voting rights.
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Crossword is a technology transfer company specialising in cyber security. Crossword works with universities who undertake advanced cyber security research in order to take their research through productisation to market.
Further information, please contact:
CEO, Crossword Cybersecurity
Tel: +44 (0) 20 8973 2350
NEX Corporate Advisor
Nick Michaels and Jon Isaacs, Alfred Henry Corporate Finance Limited
Tel: +44 (0)203 772 0021
NEX Corporate Broker
Claire Louise Noyce – CEO, Hybridan LLP
Tel: +44 (0)203 764 2341