Malvern International plc (AIM: MLVN), the global learning and skills development partner, announces that the Company is granting options to a director and certain employees over 58,750,000 ordinary shares of 0.1 pence each in the capital of the Company, pursuant to the Company’s EMI share option scheme (the “EMI Options”). The EMI Options being granted when added to the 92,750,000 issued on 21 January 2021 total 151,500,000 and represent 7.3 per cent. of the existing issued share capital of the Company.
The EMI Options will vest after three years once defined share price levels have been attained for 40 consecutive business days. Half of the individual EMI options awards will vest when the mid-market share price of the Company reaches 0.6 pence and the remaining half will vest when the mid-market share price of the Company reaches 1.1 pence.
The exercise price of the EMI Options is 0.22 pence each.
Of the total EMI Options granted in this tranche, 18,500,000 have been granted to Richard Mace, Chief Executive of the Company adding to the 29,500,000 EMI options issued on 21 January 2021 taking Mr Mace’s total of EMI options to 48,000,000.
The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.