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DJ British Honey Company PLC (The) Grant of Options

TIDMBHC

RNS Number : 7179G

British Honey Company PLC (The)

19 March 2020

19 March 2020

The British Honey Company

("BHC" the "Company")

Grant of Options

BHC, the premium British Honey and Infused Spirits brand, announces that, on 18 March 2020, it granted the following options over ordinary shares in the capital of the Company ("Shares"), as referred to in the Company's recent admission document, to Directors and management, as follows:

 
                         Name                                Number of                            Number                             Number                           Percentage 
                                                               Options                                of                                 of                             of Fully 
                                                               Granted                            Shares                           Options/                              Diluted 
                                                                                                    Held                           Warrants                                Share 
                                                                                                                                       Held                              Capital 
 Michael Williams                                          412,000 (1)                           601,539                            185,000                                9.97% 
                                  ------------------------------------  --------------------------------  ---------------------------------  ----------------------------------- 
 Robert Porter-Smith                                           200,000                           865,000                                  -                                8.86% 
                                  ------------------------------------  --------------------------------  ---------------------------------  ----------------------------------- 
 Philip Seers                                                  200,000                           363,636                            109,091                                5.60% 
                                  ------------------------------------  --------------------------------  ---------------------------------  ----------------------------------- 
 The Rt Hon Sir Hugo Swire KCMG                                100,000                           145,455                            146,636                                3.26% 
                                  ------------------------------------  --------------------------------  ---------------------------------  ----------------------------------- 
 Guifang Luo                                                   100,000                           198,020                                  -                                2.48% 
                                  ------------------------------------  --------------------------------  ---------------------------------  ----------------------------------- 
                         Martin 
                          Riley                                100,000                                 -                                  -                                0.83% 
                                  ------------------------------------  --------------------------------  ---------------------------------  ----------------------------------- 
 

(1) The Company plans to seek EMI treatment in respect of 227,272 of these shares. Included within the grant of options are 4,500 options granted to Caroline Williams, a member of management and the wife of Michael Williams.

The options are exercisable at price of 110p per share and have an exercise period of three years following vesting. A third of the options awarded vest on each anniversary of the award.

In addition to the options granted above, on 18 March 2020, the Company also granted 13,351 warrants to certain other parties at an exercise price of 110p per share with an exercise period of three years.

The grant of options to directors is considered to be a related party transaction pursuant to Rule 52 of the Aquis Stock Exchange's Rules for Issuers. The names of the related parties and their relationship with the Company is disclosed below. Alastair Wallace the only director not receiving shares in this award has considered the terms of the award and believes them to be fair and reasonable insofar as the Company's shareholders are concerned.

The Company further announces that it has changed its auditors to Nexia Smith & Williamson for the forthcoming audit which will commence following the Company's year end on 31 March 2020.

The Directors of the Company take responsibility for this announcement. This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquiries:

 
 The British Honey Company                      Tel: +44 (0)80 0368 
                                                               7612 
 Michael Williams, Founder and CEO 
 
 Cairn Financial Advisers LLP (Aquis Stock      Tel: +44 (0)20 7213 
  Exchange Corporate Adviser)                                  0880 
 Jo Turner / Liam Murray / Mark Rogers 
 
 Stanford Capital Partners (Broker)             Tel: +44 (0)20 3815 
                                                               8880 
 Patrick Claridge / John Howes / Bob Pountney 
 
 IFC Advisory (PR)                              Tel: +44 (0)20 3934 
                                                               6630 
 Graham Herring / Florence Chandler 
 
 

For further information, visit: www.britishhoney.co.uk

 
 Notification of a Transaction pursuant to Article 19(1) of Regulation 
  (EU) No. 596/2014 
 1     Details of the person discharging managerial responsibilities/person 
        closely associated 
----  ------------------------------------------------------------------------------------ 
 a.    Name                                 a) Michael Williams 
                                             b) Robert Porter-Smith 
                                             c) Philip Seers 
                                             d) The Rt Hon Sir Hugo Swire KCMG 
                                             e) Guifang Luo 
                                             f) Martin Riley 
                                      ---------------------------------------------------- 
 2     Reason for notification 
      ------------------------------  ---------------------------------------------------- 
 a.    Position/Status                      a) CEO 
                                             b) Executive Director 
                                             c) Non-executive Director 
                                             d) Non-executive Chairman 
                                             e) Non-executive Director 
                                             f) Non-executive Director 
      ------------------------------  ---------------------------------------------------- 
 b.    Initial notification/           Initial notification 
        Amendment 
                                      ---------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
 a.    Name                            The British Honey Company plc 
      ------------------------------ 
 b.    LEI                             213800OJDDM3CJOO1C69 
      ------------------------------  ---------------------------------------------------- 
 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                  Options over ordinary shares of 10p each 
        the financial 
        instrument, type                ISIN: GB00B64Q0333 
        of instrument 
 
        Identification 
        Code 
      ------------------------------  ---------------------------------------------------- 
 b.    Nature of the                   Grant of share options 
        transaction 
      ------------------------------  ---------------------------------------------------- 
 
 c.    Price(s) and volume(s)            Price(s)                 Volume(s) 
      ------------------------------    ----------------------- 
                                                    a) 110             a) 400,000 
                                                     b) 110             b) 200,000 
                                                     c) 110             c) 200,000 
                                                     d) 110             d) 100,000 
                                                     e) 110             e) 100,000 
                                                     f) 110             f) 100,000 
                                        -----------------------  ------------------ 
 
 e.    Date of the transaction         18 March 2020 
      ------------------------------  ---------------------------------------------------- 
 f.    Place of the transaction        UK 
      ------------------------------  ---------------------------------------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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March 19, 2020 03:00 ET (07:00 GMT)