May 2020 •
Social video group Brave Bison (AIM: BBSN) announces that it has today granted 18,165,159 restricted stock units (“RSUs”) to Kate Burns, Chief Executive Officer of Brave Bison, representing approximately 2.96 per cent. of the Company’s issued ordinary share capital.
The RSUs have been granted as EMI-qualifying RSUs under the Company’s RSU Plan, adopted in November 2017, and entitle the recipient to receive new ordinary shares of 0.1p in the Company (“Shares”) upon exercise of the RSUs on a one-for-one basis at an exercise price of 0.1 pence per Share.
The RSUs are being granted pursuant to Kate Burns’ employment contract and represent 3 per cent. of the Company’s issued ordinary share capital as at the date of Kate Burns’ appointment as Chief Executive of the Company on 3 April 2019. The RSUs vest over a three-year period commencing on 3 April 2019, as to a third at the end of each anniversary.Â Kate Burns does not hold any other RSUs or options over Shares, but her employment contract entitles her to be granted further share options in the future of up to 3 per cent. of the Company’s share capital.
The total pool of RSUs is limited to 12.5 per cent. of the Company’s issued ordinary share capital and following the above grant, a total of 46,206,760 RSUs are currently in issue, representing 7.54 per cent. of the Company’s issued share capital.
The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation, is appended below.
Details of the person discharging managerial responsibilities/person closely associated
Reason for the notification
Initial notification /Amendment
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Brave Bison plc
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
Description of the financial instrument, type of instrument
Restricted stock units (over ordinary shares of 0.1p)
Nature of the transaction
Grant of restricted stock units
Price(s) and volume(s)
0.1p exercise price
– Aggregated volume
Date of the transaction
26 May 2020
Place of the transaction
Outside a trading venue