Gledhow Investments plc (AQUIS:GDH) announced the appointment of Cameron Pearce and Sam Quinn to its board of directors, effective immediately. The company also disclosed a reduction of £219,556 in convertible loan notes held with P3 Capital Limited.
Pearce will hold 9,175,595 ordinary shares, representing approximately 5.41% of the issued share capital. Quinn will hold 5,827,652 ordinary shares, accounting for roughly 3.43% of the total. Following the transaction, P3 Capital Limited’s stake in Gledhow Investments stands at 12.52%, with no further shares expected from the conversion of existing convertible loan notes.
P4 Capital Limited, another shareholder, holds 11,036,444 ordinary shares, or 6.50% of the issued share capital. An additional 4,792,000 shares will be issued if the remaining convertible loan notes are converted.
The company also introduced an employee share option plan covering 15% of the expanded share capital. Pearce will receive 45% of the initial allocation, Quinn 35%, and Guy Miller the remaining 20%. The plan consists of four tranches of 6.3 million shares each, with vesting tied to share price milestones of £0.02, £0.03, £0.045, and £0.06, respectively.
All employee options may be exercised at a price of 1 penny per share and remain valid for five years after vesting. Share price milestones will be calculated using a 15-trading-day volume-weighted average price (VWAP).
