Shareholder Information

Summary

Last Updated on 20 February 2025

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
743,409,624
Percentage of Shares in Public Hands
40.11%

Significant Shareholders (over 5%)

Shareholder
Number of Ordinary Shares
% of Issued Share Capital
Arsen Torosian
442,481,185
59.52%

Director Interests

Shareholder
Number of Ordinary Shares
% of Issued Share Capital
Arsen Torosian
442,481,185
59.52%
John Taylor
2,750,000
0.37%
Peter Wall
2,500,000
0.34%

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
39,444,445
8p
January 10, 2026
1,000,000
4.5p
January 10, 2028
2,250,000
2p
February 17, 2028

Options

Number
Exercise Price
Expiry Date
30,000,000
3p
November 2034
30,000,000
2.5p
November 2034
33,000,000
3p
February 2035

Vesting conditions:
25% in May 2025
25% on the bid price for the Company’s shares reaching at least 15p
25% on the bid price for the Company’s shares reaching at least 25p
25% on the bid price for the Company’s shares reaching at least 50p

The vesting criteria requires the recipients to remain engaged by the Company at the time of vesting. Share price targets require the share price to close at or above each target for at least five days in a 20-day period.

**Vesting conditions:Vesting in three equal tranches on the first, second, and third anniversaries of the date of grant (February 2025)