In line with the authorisation of the shareholders granted at an extraordinary general meeting held on 23 September 2014, the company put in place the share option scheme and offered share options to those persons engaged with Angler Gaming group who make valuable contributions to the business of the group. The maximum number of shares that can be issued under the share option scheme is 1,410,000 shares and all options have been allocated.
The options have been offered as follows:
- Group’s CEO, Michael Bennett: 450,000 options; Chairman of the Angler Gaming plc’s board, David Gray: 225,000 options. In each case, the options are exercisable in three equal tranches, first tranche is exercisable in 2015, second tranche during 2016, and third tranche’s exercise period ends in November 2017;
- Head of operations: 300,000 options; head of marketing: 90,000 options; head of technology: 45,000 options; legal counsel: 300,000. In each case, the options are exercisable in three equal tranches, first tranche’s exercise period starts in January 2016, second tranche is exercisable during 2017, and the exercise period of the third tranche ends in March 2018.
The strike price for each option holder has been fixed as follows: 1.31SEK for the first tranche, 1.59SEK for the second tranche and 1.84SEK for the third tranche.
Upon the receipt the valid exercise notices for the first tranche of granted options, the Board has approved an allotment of 225,000 shares as follows: 75,000 in favour of the Chairman, David Gray, and 150000 in favour of the CEO, Michael Bennett. These allotted shares are first tranche of options granted to Mr Bennett and Mr Gray. The options were exercised at the price of 1.31SEK per share. The allotment of these 225,000 shares brings the total number of issued shares in the Company from 72,524,995 to 72,749,995.