Gledhow Investments confirms director appointments, CLN reduction

London - Gledhow Investments plc recently announced the appointment of two new directors, Cameron Pearce and Sam Quinn, effective immediately. Pearce holds a significant 5.41% stake in the company through 9,175,595 ordinary shares, while Quinn owns 3.43% of the shares with 5,827,652 shares. Additionally, Gledhow reported a £219,556 reduction in convertible loan notes owed to P3 Capital Limited.

As a result of this paydown, P4 Capital Limited now owns 6.50% of the company's shares, specifically 11,036,444 ordinary shares, with another 4,792,000 shares to be issued if the remaining convertible loan notes convert. On the other hand, P3 Capital Limited retains 12.52% ownership, holding 21,250,000 ordinary shares, with no additional shares expected from convertible loan note conversion.

Furthermore, Gledhow has established an employee share option plan that constitutes 15% of the expanded share capital. This plan includes four tranches of 6.3 million shares, each vested at specific share price milestones - £0.02, £0.03, £0.045, and £0.06. The vesting is contingent on achieving predetermined share price levels determined by a 15-trading day volume-weighted average price.

Initial allocations of employee options are distributed as 45% to Pearce, 35% to Quinn, and 20% to Guy Miller, with all options exercisable at a rate of 1 penny per share for a period of five years post-vesting.