Sopheon plc, the international provider of software, expertise, and best practices for Enterprise Innovation Performance, announces that, following the exercise of options by several employees, it has issued and allotted 24,000 new Ordinary Shares of 20 pence each in the Company (“Ordinary Shares”). Application will be made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 15 June 2020 (“Admission”).
The options that have been exercised were due to expire on 27 August 2020, and had an exercise price of £1.50 per Ordinary Share. They include options for 7,500 Ordinary Shares that have been exercised by a director, Arif Karimjee, and the resulting Ordinary Shares have been sold at a price of £7.10 per share. These options were not granted under a tax-sheltered scheme, and accordingly carry a tax and national insurance liability due upon exercise. Following this transaction, Arif Karimjee’s total beneficial interest in Ordinary Shares, including those held by his spouse, remains unchanged at 82,493 Ordinary Shares.
The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares. The total number of Ordinary Shares in issue following Admission will be 10,202,138. The Company does not hold any shares in treasury. Accordingly, the figure of 10,202,138 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.
For Further Information Contact:
| Barry Mence, Chairman Arif Karimjee, CFO |
Sopheon plc | + 44 (0) 1276 919 560 |
| Carl Holmes / Giles Rolls (Corporate Finance) Alice Lane (ECM) |
finnCap | + 44 (0) 20 7220 0500 |
About Sopheon
Sopheon (LSE: SPE) partners with customers to provide complete enterprise innovation management solutions including software, expertise, and best practices, that enable them to achieve exceptional long-term revenue growth and profitability. Sopheon's Accolade solution provides unique, fully-integrated coverage for the entire innovation management and new product development lifecycle, including strategic innovation planning, roadmapping, idea and concept development, process and project management, portfolio management and resource planning. Sopheon's solutions have been implemented by over 200 customers with over 60,000 users in over 50 countries. Sopheon is listed on AIM, operated by the London Stock Exchange.