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LONDON - Milton Capital Plc (LSE:MLTN) announced Wednesday that it has restructured its share option awards following the resignation of Edward Dawson from the company’s board of directors.
According to a company statement, Dawson has agreed to relinquish 3 million share options that were awarded to him as part of a 7.5 million option package granted to directors and consultants in November 2023.
The company has reallocated these options, awarding 1 million each to directors Richard Mays and Nick Pillar, with an additional 1 million distributed among consultants.
All share options carry an exercise price of 1.5 pence per share. The options will vest upon completion of what the company describes as a "substantial transaction" and will expire three years after the vesting date.
Following these changes, Richard Mays now holds 4 million share options, while Nick Pillar holds 1.75 million. Consultants to the company collectively hold 1.75 million options.
The restructuring aligns with Milton Capital’s recently adopted remuneration policy, the company said in its press release.
Milton Capital is listed on the London Stock Exchange (LON:LSEG), with Peterhouse Capital Limited serving as its financial adviser and corporate broker.
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