K2fly Issues Shares to Executives upon Exercise of listed K2FOA options raising $14,181; Stock Spikes  

  • Apr 17, 2020 AEST
  • Team Kalkine
K2fly Issues Shares to Executives upon Exercise of listed K2FOA options raising $14,181; Stock Spikes  

Technology company, K2fly Limited (ASX: K2F), offering software and solutions to businesses operating in the asset intensive industries globally, informed the market on 16 April 2020 that a total of 70,904 fully paid ordinary shares (Shares) have been issued upon the exercise of listed options (K2FOA) raising $14,181.

A day prior, the Company had announced that a letter was sent to all holders of K2FOA listed options which are exercisable at $ 0.20 each on or before 5:00pm WST on Monday, 18 May 2020 (Expiry Date). Besides, the Official quotation of the Options would cease at the close of trading session on 12 May 2020, that is four business days prior to the Expiry Date. Around 12,883,941 Options, if not exercised by the given date, would automatically lapse.

K2fly had further added that holders of the Options could exercise all or part of their Options by providing the Company a completed written exercise notice specifying the number of Options being exercised and a payment of funds for the total exercise price of the Options.

Notice of Expiry Of K2FOA Options

Subsequently, K2FOA options held by Non-Executive Chair Jenny Cutri, and Non-Executive Directors Neil Canby and James Deacon have been exercised and converted, leading to a direct increase in their respective stakes in K2fly Limited.

  • Mr Neil William Canby has exercised and converted 38,125 Listed options into fully paid ordinary Shares at a value consideration of $ 7,625.
  • Mr James Andrew Deacon has exercised and converted 6,524 Listed options into fully paid ordinary shares at a value consideration of $ 1,304.80.
  • Ms Eugenia (Jenny) Cutri has exercised and converted 26,255 Listed Options at a value consideration of $ 5,251.

These exercised options came on the back of purchases by CEO Mr Brian Miller in March who invested more than $76k in his own company.

K2flly’s stock price is currently trending higher at $ 0.220, climbing up 2.326% on 17 April 2020 with ~ 66,994 shares traded (as at AEST: 2:56 PM). Furthermore, K2F has generated positive returns of 88% over the lats one year, 46% over the last six months and 42% in the last one months against a background of turbulent market conditions.

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