Last checked at 21 Dec 2016 16:50
21 December 2016
Satellite Solutions Worldwide Group plc
("SSW" or the "Company")
Grant of Options
Satellite Solutions Worldwide Group plc (AIM: SAT), the global communications company specialising in rural and last-mile broadband, announces that on 21 December 2016 it granted a total of 15,960,000 options to subscribe for new ordinary shares of £0.01 each in the Company to staff, including Directors pursuant to the terms of the Company's Enterprise Management Incentive ("EMI") scheme and the Company's unapproved option scheme.
All the options granted to Directors have an exercise price of 7.63p and will vest within 12 months of the grant date provided that the Directors remain with the Company.
The awards include the grant of 779,132 and 1,500,000 options to Executive Directors, Andrew Walwyn and Simon Clifton respectively under the Satellite Solutions Worldwide Group plc 2015 EMI Share Option scheme.
Furthermore, Andrew Walwyn and Frank Waters have been granted 720,868 and 1,300,000 unapproved options.
A further 8,260,000 options have been awarded to incentivise and retain employees including management of acquired businesses with an exercise price of 7.63p and with varying vesting terms and conditions.
In addition, in order to align the interests of non-executive directors with those of the executive directors and shareholders whilst the Company is in a period of rapid growth, it was decided to award Unapproved Share Options to Michael Tobin, Paul Howard and Rodger Sargent as to 1,400,000, 1,000,000 and 1,000,000 shares respectively.
Of the 15,960,000 option grant to certain directors and employees of the Company, 5,907,920 are pursuant to the Company's Enterprise Management Incentive ("EMI") scheme and 10,052,080 are pursuant to the Company's unapproved option scheme.
The grants to the Directors and their resultant holdings are shown in the table below:
Resulting interest in the Company | ||||
Name | No. of options granted over Ordinary Shares | No. of Ordinary Shares | Holding as a % of ISC | No. of options over Ordinary Shares |
Andrew Walwyn | 1,500,000 | 49,384,572 | 9.2 | 5,000,000 |
Frank Waters | 1,300,000 | 4,155,351 | 0.8 | 7,646,754 |
Simon Clifton | 1,500,000 | 31,348,450 | 5.8 | 1,500,000 |
Michael Tobin | 1,400,000 | 1,373,667 | 0.2 | 3,400,000 |
Paul Howard | 1,000,000 | 1,966,667 | 0.5 | 2,000,000 |
Rodger Sargent | 1,000,000 | 9,487,668 | 1.8 | 2,000,000 |
For further information:
Satellite Solutions Worldwide Group PLC | www.satellitesolutionsworldwide.com |
Andrew Walwyn, Chief Executive Officer | Via Walbrook PR |
Numis Securities (Nomad and broker) Jamie Lillywhite / Simon Willis (Corporate Advisory) James Black / Jonathan Abbott (Corporate Broking) | Tel: +44 (0)20 7260 1000 |
Walbrook PR (PR advisers) | Tel: +44 (0)20 7933 8780 |
Paul Cornelius / Nick Rome | or ssw@walbrookpr.com |
DEALING NOTIFICATION FORMFOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
1. | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name: | Michael Tobin |
2. | Reason for the notification | |
a) | Position/status: | Non-Executive Chairman |
b) | Initial notification/Amendment: | Initial Notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name: | Satellite Solutions Worldwide Group plc |
b) | LEI: | N/A |
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 | |
a) | Description of the financial instrument, type of instrument Identification Code | Ordinary Shares of £0.01 each
ISIN: GB00BT6SRD21 |
b) | Nature of the transaction | Grant of options to acquire shares |
c) | Price(s) and volume | 1,400,000 options to acquire shares at 7.63p per share |
d) | Aggregated information | 1,400,000 options to acquire shares at 7.63 p per share |
e) | Date of the transaction | 21 December 2016 |
f) | Place of the transaction | Outside a trading venue |
1. | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name: | Paul Howard |
2. | Reason for the notification | |
a) | Position/status: | Non-Executive Director |
b) | Initial notification/Amendment: | Initial Notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name: | Satellite Solutions Worldwide Group plc |
b) | LEI: | N/A |
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 | |
a) | Description of the financial instrument, type of instrument Identification Code | Ordinary Shares of £0.01 each
ISIN: GB00BT6SRD21 |
b) | Nature of the transaction | Grant of options to acquire shares |
c) | Price(s) and volume | 1,000,000 options to acquire shares at 7.63p per share |
d) | Aggregated information | 1,000,000 options to acquire shares at 7.63p per share |
e) | Date of the transaction | 21 December 2016 |
f) | Place of the transaction | Outside a trading venue |
1. | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name: | Rodger Sargent |
2. | Reason for the notification | |
a) | Position/status: | Non-Executive Director |
b) | Initial notification/Amendment: | Initial Notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name: | Satellite Solutions Worldwide Group plc |
b) | LEI: | N/A |
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 | |
a) | Description of the financial instrument, type of instrument Identification Code | Ordinary Shares of £0.01 each
ISIN: GB00BT6SRD21 |
b) | Nature of the transaction | Grant of options to acquire shares |
c) | Price(s) and volume | 1,000,000 options to acquire shares at 7.63p per share |
d) | Aggregated information | 1,000,000 options to acquire shares at7.63p per share |
e) | Date of the transaction | 21 December 2016 |
f) | Place of the transaction | Outside a trading venue |
1. | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name: | Mr Andrew Walwyn |
2. | Reason for the notification | |
a) | Position/status: | Chief Executive Officer |
b) | Initial notification/Amendment: | Initial Notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name: | Satellite Solutions Worldwide Group plc |
b) | LEI: | N/A |
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 | |
a) | Description of the financial instrument, type of instrument Identification Code | Ordinary Shares of £0.01 each
ISIN: GB00BT6SRD21 |
b) | Nature of the transaction | Grant of options to acquire shares |
c) | Price(s) and volume | 1,500,000 options to acquire shares at 7.63p per share |
d) | Aggregated information | 1,500,000 options to acquire shares at 7.63p per share |
e) | Date of the transaction | 21 December 2016 |
f) | Place of the transaction | Outside a trading venue |
1. | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name: | Mr Frank Waters |
2. | Reason for the notification | |
a) | Position/status: | Chief Financial Officer |
b) | Initial notification/Amendment: | Initial Notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name: | Satellite Solutions Worldwide Group plc |
b) | LEI: | N/A |
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 | |
a) | Description of the financial instrument, type of instrument Identification Code | Ordinary Shares of £0.01 each
ISIN: GB00BT6SRD21 |
b) | Nature of the transaction | Grant of options to acquire shares |
c) | Price(s) and volume | 1,300,000 options to acquire shares at 7.63p per share |
d) | Aggregated information | 1,300,000 options to acquire shares at 7.63p per share |
e) | Date of the transaction | 21 December 2016 |
f) | Place of the transaction | Outside a trading venue |
1. | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name: | Mr Simon Clifton |
2. | Reason for the notification | |
a) | Position/status: | Chief Technical Officer |
b) | Initial notification/Amendment: | Initial Notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name: | Satellite Solutions Worldwide Group plc |
b) | LEI: | N/A |
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 | |
a) | Description of the financial instrument, type of instrument Identification Code | Ordinary Shares of £0.01 each
ISIN: GB00BT6SRD21 |
b) | Nature of the transaction | Grant of options to acquire shares |
c) | Price(s) and volume | 1,500,000 options to acquire shares at 7.63p per share |
d) | Aggregated information | 1,500,000 options to acquire shares at 7.63p per share |
e) | Date of the transaction | 21 December 2016 |
f) | Place of the transaction | Outside a trading venue |