GFINITY PLC — Remuneration Information 2016

Jul 21, 2016

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RNS Number : 8920E

Gfinity PLC

21 July 2016

Gfinity plc

("Gfinity" or "the Company")

Grant of Share Options 

Gfinity (AIM: GFIN), a leading eSports business, announces that its remuneration committee has today awarded a total of 9,145,670 options over ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") to certain Directors, employees and partners (the "Options"). These Options were granted under the Company's EMI scheme ("EMI Scheme") and unapproved share option scheme ("Non-EMI Scheme").

The Company's remuneration committee has decided to issue the Options in order to incentivise the executive management team in view of the next phase of the Group's development in light of its recent fundraising.

The Options are exercisable at the closing mid-market price of Ordinary Shares at 20 July 2016, being 11.875 pence per Ordinary Share (the "Exercise Price").

The Options are exercisable in the following circumstances:

·     50 per cent. after a minimum period of two years and subject to the closing mid-market price of Ordinary Shares having exceeded 150% of the Exercise Price for a minimum period of 30 consecutive business days; and

·     50 per cent. after a minimum period of three years and subject to the closing mid-market price of Ordinary Shares having exceeded 200% of the Exercise Price for a minimum period of 30 consecutive business days.

The Options expire on 21 July 2026 if not exercised.

The Directors that have been awarded Options are as follows:

Director	Position	Number of Options granted	Total options held following the grant
Neville Upton	Chief Executive	7,870,670	7,870,670
Jonathan Hall	Finance Director	500,000	1,548,571
Philip Shuldham-Legh	Marketing Director	100,000	643,000
Paul Kent	Technology and eSports Director	100,000	200,000

All the above Options were granted under the EMI Scheme, save for 5,765,407 of Neville Upton's Options, which were granted under the Non-EMI Scheme.In aggregate, the 8,570,670 Options granted to the Directors represent approximately 5.44 per cent. of the current issued share capital of the Company.

In addition, a further 275,000 Options were awarded to certain employees of the Company, as well as 300,000 Options awarded to a contractor to the Company, all on the same terms as above.

Following the grant of the Options, the total number of Ordinary Shares outstanding under option arrangements is 13,966,711, representing 8.87 per cent. of the Company's issued share capital.

Enquiries:

Gfinity plc	www.gfinityplc.com
Neville Upton, Chief Executive Officer	Via Walbrook PR
Allenby Capital Limited (Nominated Adviser & Broker)	Tel. +44 (0)20 3328 5656
Jeremy Porter / John Depasquale / James Thomas
Walbrook PR (PR advisers)	Tel: +44 (0)20 7933 8780 or gfinity@walbrookpr.com
Paul McManus / Paul Cornelius / Sam Allen	Mob: 07980 541 893 / 07866 384 707 / 07884 664 686

This information is provided by RNS

The company news service from the London Stock Exchange

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