19 December 2017
COINSILIUM GROUP LIMITED
(“Coinsilium” or the “Company”)
Grant of Options
Coinsilium Group Limited (NEX: COIN), the blockchain venture builder and investor that finances and manages the development of early-stage blockchain technology companies, announces the grant of 18,000,000 options (the “Options”) to Directors, key staff and consultants of the Company in recognition of their contribution to the growth of Coinsilium. The ordinary shares of nil par value in the capital of the Company ("Ordinary Shares") subject to the Options represent, in aggregate, 14.77% of the existing issued share capital of the Company.
Each option entitles the holder upon exercise to one Ordinary Share.
Pursuant to the recommendation of the Remuneration Committee, the board has awarded the following options:
Tranche 1 Tranche 2
Price 9p 13.5p
Eddy Travia* 2,250,000 2,250,000
Malcolm Palle* 1,500,000 1,500,000
Tony Sarin* 750,000 750,000
Craig Brown* 750,000 750,000
Key staff and consultants 3,750,000 3,750,000
TOTALS 9,000,000 9,000,000 18,000,000
Vesting date: Immediate After 6 Months
*Directors of the Company
Of the Options, 50% are exercisable immediately at price of 9 pence per share and 50% are exercisable after six months at a price of 13.5 pence per share. The Options will be valid for 5 years from the date of grant. The vesting date of Options in Tranche 2 may be accelerated on the occasion of certain specified events, including an offer being made to acquire the Company.
The decision to grant options to key stakeholders in the Company was initially taken at a Board meeting of Coinsilium on 10 July 2017, when the market price per Ordinary Share was 4.125 pence. The VWAP (Volume Weighted Average Price) for Ordinary Shares in the 90 day period preceding the grant of Options was 7.828 pence per share and the Remuneration Committee have determined that the Options should be granted at a premium to this VWAP.
Following the grant of Options to Directors, the resultant total Directors' interests in the Company are as follows:
Directors Ordinary % of Issued IPO Options New Options Total Options
Shares Share Capital (20p)
Malcolm Palle 7,837,012 6.57% - 3,000,000 3,000,000
Eddy Travia 7,373,368 6.18% 2,000,000 4,500,000 6,500,000
Tony Sarin 3,444,805 2.89% 500,000 1,500,000 2,000,000
Craig Brown - 0.00% - 1,500,000 1,500,000
The Directors of Coinsilium Group Limited take responsibility for this announcement.
For further information, please contact:
Malcolm Palle, Executive Chairman +44 (0) 7785 381089
Coinsilium Group Limited
Eddy Travia, CEO +44 (0) 20 3889 4312
Coinsilium Group Limited
Harry Chathli / Ana Ribeiro / Alexis Gore +44 (0) 207 618 9100
Luther Pendragon Ltd
Guy Miller / Mark Anwyl +44 (0) 207 469 0930
Peterhouse Corporate Finance Limited
(NEX Exchange Corporate Adviser)
Nick Emerson +44 (0) 1483 413 500
SI Capital Limited
Notes to Editors
Coinsilium is a blockchain venture builder and investor that finances and manages the development of early-stage blockchain technology companies. It does this through its consortium of top-tier investors, industry thought leaders and executive managers. Based in London, Coinsilium’s focus is on driving innovation in fintech and blockchain technologies, enabling businesses to take advantage of growth opportunities.
Coinsilium shares are traded on the NEX Exchange Growth Market, the primary market for unlisted securities operated by NEX Exchange, a Recognised Investment Exchange under the Financial Services and Markets Act 2000.
For further information about Coinsilium please visit http://www.coinsilium.com
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.