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DJ MESH Holdings PLC Exercise of Warrants, Issue of Shares and Options

TIDMMESH

RNS Number : 9286D

MESH Holdings PLC

01 July 2019

1 July 2019 Under Embargo

MESH Holdings plc

("MESH" or the "Company")

Exercise of Warrants

Issue of Shares and Options to Director and PDMRs

MESH announces that it has received various binding warrant exercise notices for 600,000 warrants with the exercise price of 16p for a total cash payment of GBP96,000 and a further 5,000,000 warrants with the exercise price of 20p for a cash payment of GBP1,000,000. The total cash proceeds for MESH are therefore GBP1,096,000.

Applications will be made for the 5,600,000 ordinary shares of nominal value of 2 pence each in the capital of the Company to be admitted to trading on the NEX Exchange, with admission expected to occur at the same time when the temporary share suspension is lifted.

MESH furthermore announces that in conjunction with the approval of the exercise of the Sentiance Acquisition Option, on 28 June 2019, the following Options over ordinary shares ("Options"), were issued to the director of the Company ("Director"), being Mark de Smedt, and to Tom Vandendooren, Anne Stratford, Manjit Ram and Michael Kogeler, persons discharging managerial responsibilities in the Company ("PDMR") as part of their incentive package on an ongoing basis.

Details of the issue are as follows:

 
          Individual            New Options    Exercise    Expiry date 
                                   issued      price of     of Options 
                                                Options 
 Mark de Smedt                   5,500,000    50.0 pence   1 July 2029 
  Chairman & CEO 
                               ------------  -----------  ------------ 
 Tom Vandendooren                3,500,000    50.0 pence   1 July 2029 
  Chief Strategy & Marketing 
  Officer 
                               ------------  -----------  ------------ 
 Anne Stratford                  2,000,000    50.0 pence   1 July 2029 
  Chief Legal Officer 
                               ------------  -----------  ------------ 
 Manjit Ram                      1,250,000    50.0 pence   1 July 2029 
  Interim Finance Director 
                               ------------  -----------  ------------ 
 Michael Kogeler                 1,000,000    50.0 pence   1 July 2029 
  SVP Technology & Operations 
                               ------------  -----------  ------------ 
 

[1] Subject to continued employment and or Board position vesting over 3 years: Year 1 40% and Years 2 and 3 30%, respectively

2 Vesting of the Options are also subject to a minimum mid-market MESH trigger share price of 125 pence per share for a consecutive trading period of at least 25 days

Total Voting Rights

Following the issue of the 5,600,000 new Ordinary Shares as described and summarised above, MESH will have 238,015,226 Ordinary Shares in issue, each Ordinary Share carrying the right to one vote. MESH does not hold any Ordinary Shares in treasury. The total number of voting rights in MESH will therefore be 238,015,226.

 
                            Mark De Smedt 
 The Company                 Anne Stratford              +44 (0)203 885 2558 
 Whitman Howard 
  NEX Exchange Corporate    Nick Lovering Christopher 
  Adviser                    Furness                     +44 (0)207 659 1234 
                           ---------------------------  -------------------- 
                            Hilary Buchanan 
 Alma PR                     Caroline Forde              +44 (0)203 405 0205 
                           ---------------------------  -------------------- 
 

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July 01, 2019 03:43 ET (07:43 GMT)