Last checked at 31 Oct 2019 07:00
Bigblu Broadband plc
("BBB" or the "Company")
Grant of LTIP Awards and Share Options
Bigblu Broadband plc (AIM: BBB), a leading provider of alternative fast broadband services, announces that on 28 October 2019, the Company granted nominal-cost options over a total of 988,918 ordinary shares under the Company's 2018 Long Term Incentive Plan ("LTIP") to Executive Directors and certain employees (representing 1.7% of the Company's current issued share capital).
LTIP awards
LTIP awards have made to the following Executive Directors and are subject to vesting criteria over a three-year period based on total shareholder return ("TSR") targets:
Name | Position | Number of LTIP awards |
Andrew Walwyn | Chief Executive Officer | 199,489 |
Frank Waters | Chief Financial Officer | 160,273 |
Simon Clifton | Chief Technical Officer | 156,010 |
These awards will be based on a range of challenging absolute TSR targets and relative TSR targets based on a broad comparator group of companies in the AIM All Share index, over a three-year period.
Grant of options
In addition, the Board has approved the grant of 83,334 share options to employees both in the UK and overseas under the Company's 2015 Unapproved Option Scheme. The options will normally vest approximately on 30 August 2021 and are subject to performance conditions including EBITDA and cash flow targets.
Contacts:
Bigblu Broadband Plc | www.bbb-plc.com |
Andrew Walwyn, Chief Executive Officer | Via Walbrook PR |
Numis Securities (Nomad and broker) | Tel: +44 (0)20 7260 1000 |
Oliver Hardy (Corporate Advisory) | |
James Black / Jonathan Abbott (Corporate Broking) | |
Walbrook PR (PR advisers) | Tel: +44 (0)20 7933 8780 |
Nick Rome / Tom Cooper | or bigblubroadband@walbrookpr.com |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
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a)
| Name
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2
| Reason for the notification
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a)
| Position/status
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b)
| Initial notification /Amendment
| Initial Notification
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3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
| Name
| Bigblu Broadband Plc
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b)
| LEI
| 2138008P6X5EX455KU41
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4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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a)
| Description of the financial instrument, type of instrument | Nominal-cost options over ordinary shares of £0.15 each | ||||||||||||
Identification code | ISIN: GB00BD5JMP10 | |||||||||||||
b)
| Nature of the transaction
| Grant of options under the LTIP
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c)
| Price(s) and volume(s)
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d)
| Aggregated information: | |||||||||||||
- Aggregated volume | Options over 515,772 ordinary shares | |||||||||||||
- Price | Nil cost | |||||||||||||
e)
| Date of the transaction
| 28 October 2019
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f)
| Place of the transaction
| Outside a trading venue
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