CloudTag (CTAG:LN), the company that brings personal monitoring to the health, wellbeing and fitness markets, has told DirectorsTalk that the Remuneration Committee of the board has granted options and warrants to certain directors and an employee. This is the first grant of options to the Company’s CEO, Amit Ben-Haim, and is intended to incentivise him to continue with the excellent progress made to date in driving the business forward and generating shareholder value. The committee also identified certain key individuals in the business who have made a significant contribution to the development of the business and who it was felt should be incentivised through option and warrant grants to continue with such contribution in the future.
Options Grantee Number of Exercise Percentage
Options Price of current
issued
share capital
("ISC")
--------------- ------------------- ----------- --------- ---------------
Amit Ben-Haim CEO 7,000,000 5p 2.16%
Amit Ben-Haim CEO 8,000,000 6p 2.47%
Amit Ben-Haim CEO 9,000,000 7p 2.78%
--------------- ------------------- ----------- --------- ---------------
Total 24,000,000
Warrants Title Number of Strike
Warrants Price
--------------- ------------------- ----------- --------- ---------------
Tony Reeves Non-Exec Chairman 4,000,000 5p 1.24%
Tony Reeves Non-Exec Chairman 4,500,000 6p 1.39%
--------------- ------------------- ----------- --------- ---------------
Total 8,500,000
Employee - 4,000,000 5p 1.24%
Employee - 4,500,000 6p 1.39%
--------------- ------------------- ----------- --------- ---------------
Total 8,500,000
The date of grant of the options and warrants is 5 July 2016 (“Date of Grant”). The options and warrants are exercisable for 10 years from the Date of Grant, the final exercise date being 4 July 2026.
Following the grant of options and warrants, the beneficial and other interests of Amit Ben-Haim and Tony Reeves in ordinary shares of the Company are:
Name Title Total Ordinary Total Options Percentage
Shares held / Warrants of current
held ISC
--------------- ----------- --------------- -------------- ------------
Amit Ben-Haim CEO 15,087,640 24,000,000 12.08%
Non-Exec
Tony Reeves Chairman 4,561,667 9,750,000 4.43%
Following the grants set out in this announcement the Company has granted, in aggregate, options and warrants over 29,700,000 Ordinary Shares and 59,683,334 Ordinary Shares respectively, representing 9.2% and 18.5% respectively of the ISC
