Cleantech Building Materials plc: Grant of Options
17 September 2019
CLEANTECH BUILDING MATERIALS PLC, NASDAQ FIRST NORTH, COPENHAGEN
Cleantech Building Materials plc
GRANT OF OPTIONS
The Directors of Cleantech Building Materials plc (“CBM” or the “Company”), announce that the Company has today granted options to purchase 4,251,469 ordinary shares of £0.10 each (“Ordinary Shares”) in the Company to certain directors of the Company and members of its senior management team (“Options”).
All of the Options have the same terms which include an exercise price of €1.25, a vesting period under which 25% of the Options granted are exercisable from 17 September 2020, and the remaining 75% are exercisable in three tranches of 25% each upon the completion of defined conditions. The options granted have an expiry date of ten years from today’s date and any options not exercised will lapse at that date.
The Options granted include a grant to Jason Hung-Wen Wang, director of the Company and Chief Executive Officer, and Wei Zou, director and Chief Financial Officer, who have been respectively been granted Options over 759,191 Ordinary Shares and a grant to Paul Richards, director and Chairman of the Company, who has been granted Options over 303,676 Ordinary Shares.
Following the recent announcements regarding the Company’s plan to construct the first Accoya® wood factory in China with Nantong Acetic Acid Chemical Co. Ltd (“Nantong”), an international Chinese chemical group, and the signing of a subscription agreement for €15,000,000 with a private family office to finance its share of the project financing, the Directors believe that the Options are important to retain and incentivise the senior management team to deliver on the Company’s strategy to finance and build the first Accoya® Wood factory in China.
THE DIRECTORS OF CLEANTECH BUILDING MATERIALS PLC ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT
Further information may be found at the Company's website at www.cbm-plc.com
|Cleantech Building Materials plc
+44 20 3934 6630
|Keswick Global AG (Certified Adviser)||
+43 1 740 408045
|IFC Advisory Limited (Financial PR)
|+44 20 3934 6630|
The information communicated in this announcement is “inside information” for the purposes of article 7 of the Market Abuse Regulation 596/2014.
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