Shareholder Information

Summary

Last updated on 16 October 2023

Tap Shares are only traded on AQSE Growth Market. Tap is subject to the UK City Code on Takeovers & Mergers, and there are no restrictions on the transferability of the company’s Ordinary Shares.

Exchange
Aquis Stock Exchange (AQSE)
Ticker
TAP
Sector
Financial Services
Issued Share Capital
693,409,624
Percentage of Shares in Public Hands
32.8%

Significant Shareholders (over 5%)

Shareholder
Number of Ordinary Shares
% of Issued Share Capital
Eric Xu
34,670,481
5.00

Director Interests

Shareholder
Number of Ordinary Shares
% of Issued Share Capital
Arsen Torosian
393,985,000
56.8
David Carr
34,160,798
4.9
John Taylor
2,750,000
0.4
Tony Quirke
135,135
0.02

Options

Option Holder
Number of Options
Exercise Price
Expiry Date
Simon Grant-Rennick
37,500
6p
December 31, 2023
37,500
8p
December 31, 2023
37,500
10p
December 31, 2023
John Taylor
150,000
6p
December 31, 2023
150,000
8p
December 31, 2023
150,000
10p
December 31, 2023
Fungai Ndoro
112,500
6p
December 31, 2023
112,500
8p
December 31, 2023
112,500
10p
December 31, 2023
Tony Quirke
75,000
6p
December 31, 2023
75,000
8p
December 31, 2023
75,000
10p
December 31, 2023

LTIP Options

The following Long Term Incentive Plan (LTIP) Options are based on revenue of up to £4 million being achieved for the financial year ending 30 June 2024 (Milestone 1), and revenue of up to £8.2 million being achieved for the financial year ending 30 June 2025 (Milestone 2). All of the LTIP Options will be exercisable at nominal value per Ordinary Share. Milestone 1 and Milestone 2 may be partly paid if certain percentages of the revenue targets are achieved as follows:

Year ended June 2024: Turnover Achieved
Enlarged Group Turnover Achieved
Year ended June 2025: Turnover Achieved
Enlarged Group Turnover Achieved
70% achieved
£2,800,000
70% achieved
£5,740,000
80% achieved
£3,200,000
80% achieved
£6,560,000
90% achieved
£3,600,000
90% achieved
£7,380,000
100% achieved
£4,000,000
100% achieved
£8,200,000

Milestone 1 LTIP Options

(assuming £4million turnover achieved)

Vendor
LTIP Options
David Carr
14,250,000
Arsen Torosian
14,250,000
Tony Quirke
1,500,000
Christopher Wawn
1,500,000

Milestone 2 LTIP Options

(assuming £8.2million turnover achieved)

Vendor
LTIP Options
David Carr
14,250,000
Arsen Torosian
14,250,000
Tony Quirke
1,500,000
Christopher Wawn
1,500,000

Warrants

Number
Exercise Price
Expiry Date
37,500,000
8p
December 31, 2023
39,444,445
8p
January 10, 2026
1,000,000
4.5p
January 10, 2028