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TC BioPharm | 8-K: Current report

SEC announcement ·  Mar 12 19:32
Summary by Futu AI
On March 8, 2024, TC BioPharm announced significant corporate developments involving its CEO, Bryan Kobel. Kobel agreed to defer $66,000 in accrued pension benefits for nine months and convert $24,760 of these benefits into 476,153 ordinary shares of the company. The conversion rate was based on the closing price of TC BioPharm's American Depositary Shares (ADSs) on the Nasdaq Capital Market as of March 7, 2024, adjusted by the ADS ratio. Additionally, the company's board of directors approved an options grant for Kobel to purchase 153,000 ADSs, representing 3,060,000 ordinary shares, at an exercise price of $2.00 per ADS, which is above the closing price from the previous day. These options, issued under the company's 2021 Shares Option Scheme, vested immediately. This corporate action follows the company's guidelines as outlined in their Annual Report on 20-F for the fiscal year ended December 31, 2022.
On March 8, 2024, TC BioPharm announced significant corporate developments involving its CEO, Bryan Kobel. Kobel agreed to defer $66,000 in accrued pension benefits for nine months and convert $24,760 of these benefits into 476,153 ordinary shares of the company. The conversion rate was based on the closing price of TC BioPharm's American Depositary Shares (ADSs) on the Nasdaq Capital Market as of March 7, 2024, adjusted by the ADS ratio. Additionally, the company's board of directors approved an options grant for Kobel to purchase 153,000 ADSs, representing 3,060,000 ordinary shares, at an exercise price of $2.00 per ADS, which is above the closing price from the previous day. These options, issued under the company's 2021 Shares Option Scheme, vested immediately. This corporate action follows the company's guidelines as outlined in their Annual Report on 20-F for the fiscal year ended December 31, 2022.
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