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LONDON - Braveheart Investment Group (AIM: LON:BRH) has announced the cancellation of historic options over ordinary shares previously issued to two of its directors. On January 31, 2025, the company’s remuneration committee, alongside CEO Trevor Brown and Executive Director Vivian Hallam, agreed to cancel a combined total of 2,976,192 options.
The cancelled options were part of a long-term incentive plan approved by shareholders at the annual general meeting on September 8, 2020. The first set of options, known as the First Historic Options, were granted on October 14, 2021, with 1,500,000 going to Brown and 2,000,000 to Hallam, each at an exercise price of 31.5p per share. The second set, the Second Historic Options, were granted on May 9, 2022, with 750,000 and 1,000,000 shares going to Brown and Hallam respectively, at an exercise price of 14p per share.
This recent cancellation includes all of Brown’s remaining 1,500,000 options and 1,476,192 of Hallam’s options. Following this cancellation, both directors still hold 2,750,000 options each. The company now has 7,146,000 options outstanding, equating to 11.21% of its current issued share capital.
The cancellation of these options was conducted outside a trading venue and is part of the company’s ongoing adjustments to its incentive schemes for management. The transactions were initially notified in compliance with market rules, and details were provided in accordance with the regulations governing the disclosure of such dealings.
The cancellation of these options may reflect a strategic realignment of Braveheart Investment Group’s management incentives or a response to changing market conditions. However, the specific reasons for these cancellations were not disclosed in the press release.
This move comes as companies are increasingly scrutinizing executive compensation and incentive structures to align with long-term shareholder value and regulatory expectations.
The information for this report is based on a press release statement from Braveheart Investment Group plc.
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