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Cleantech Building Materials: Grant of Options
30 April 2021
CLEANTECH BUILDING MATERIALS PLC, NASDAQ FIRST NORTH GROWTH MARKET, COPENHAGEN
TICKER: CBM
Cleantech Building Materials plc
GRANT OF OPTIONS
Following March’s announcement of the signature of the joint venture agreement between Diamond Wood China Limited, a subsidiary of Cleantech Building Materials plc (“CBM” or the “Company”) and Nantong Acetic Acid Chemical Co., Ltd, an international Chinese chemical group (“NTAAC”), to build the first Accoya® Wood factory in China in China (“Project”), CBM Directors are pleased to announce today the adoption of the Cleantech Building Materials PLC 2021 Unapproved Share Option Scheme (“Scheme”).
The Company recognises that it is now vitally important to retain and fully incentivise the CBM senior management team during the next crucial three year phase of the Project. Accordingly it has today granted new options under the Scheme to certain Company directors and members of its senior management team (“Options”) to subscribe for up to an aggregate of 6,562,574 ordinary shares of £0.10 each (“Ordinary Shares”) in the Company.
The Company has also agreed with each Optionholder holding share options under the Cleantech Building Materials PLC 2017 Unapproved Share Option Scheme that their share options shall today be cancelled and replaced with new Options to be granted under the Scheme. All of the Options have the same terms which include an exercise price of €0.42, a vesting period under which a third of the Options granted are exercisable from 1 May 2022, and the remaining two thirds are exercisable in two tranches of one third each upon the completion of defined conditions. The Options granted have an expiry date of seven years from today’s date and any Options not exercised will lapse at that date.
The Options granted include a grant to Jason Wang, director of the Company and Chief Executive Officer, a grant to Dwight, director and Chief Financial Officer, who have both been granted Options respectively over 1,489,165 Ordinary Shares, a grant to Adrian Wyn-Griffiths, director of the Company who has been granted Options over 303,676 Ordinary Shares and a grant to Paul Richards, director and Chairman of the Company, who has been granted Options over 303,676 Ordinary Shares.
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
Further Enquiries:
Cleantech Building Materials plc | info@cbm-plc.com |
Keswick Global AG (Certified Adviser) | info@keswickglobal.com |
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.
