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2 Nov 2020 14:44
Correction: The following amendment has been made to the 'Director/PDMR Shareholding' announcement released on 2 November 2020 at 08:00 under RNS 8515D
The date of the Transaction in Section 4(e) of the table should have read: 2 November 2020. The full text of the corrected announcement is set out below.
2 November 2020
Kooth plc
("Kooth" or the "Company")
Notification Of Transactions Of Directors, Persons Discharging Managerial Responsibility Or Connected Persons
Kooth plc, a leading provider of online mental health services in the UK, has granted awards over ordinary shares in the Company to both its management and broader staff. The awards are as follows.
LTIP Award
On 2 November 2020, Kooth granted awards over ordinary shares in the Company under the Kooth 2020 Long Term Incentive Plan (the "LTIP"), as noted below and as outlined in Kooth's admission document dated 26 August 2020.
The vesting of the awards is subject to the achievement of performance conditions based upon the growth in Kooth's annual recurring revenue over the three year performance period commencing on 1 January 2020 and the Company's total shareholder return over the three year performance period commencing 1 January 2020 against the total shareholder return of the companies constituting 101 - 200 (inclusive) of the FTSE AIM All-share Index over the same period. The awards will vest (subject to the achievement of the performance conditions) on 2 September 2023. To the extent they vest, awards held by Executive Directors will be subject to a post-vesting holding period of two years. The awards granted to Giles Alexander, Lynne Green, Ben Ievers, Annie Meharg, Kate Newhouse, Aaron Sefi and Alexandra Thompson will be released at vesting.
Each award has been granted in the form of an option with an exercise price per share of £0.05.
ASP Award
On 2 November 2020, Kooth granted options over 302,159 ordinary shares in the Company under the Kooth All-Employee Share Plan (the "ASP"). The ASP is open to all employees of the Group having completed probation and are eligible for selection to participate in the ASP at the discretion of the Board. This award allows 260 Kooth employees to participate in Kooth's progress and will vest (subject to employment status) on 2 September 2023.
Further detail on LTIP Award
Name | Number of shares subject to award |
Executive Directors | |
Tim Barker | 100,000 |
Sanjay Jawa | 75,000 |
Other Senior Managers | |
Giles Alexander | 70,683 |
Lynne Green | 75,000 |
Ben Ievers | 50,000 |
Annie Meharg | 75,000 |
Kate Newhouse | 75,000 |
Aaron Sefi | 75,000 |
Alexandra Thompson | 21,250 |
The notification below, made pursuant to Article 19 of Regulation (EU) No 596/2014 on Market Abuse, provides further information about these transactions.
1 | Details of the person discharging managerial responsibilities / person closely associated
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(a) | Name | 1. Tim Barker 2. Sanjay Jawa 3. Giles Alexander 4. Lynne Green 5. Ben Ievers 6. Annie Meharg 7. Kate Newhouse 8. Aaron Sefi 9. Alexandra Thompson | ||||||||||||||||||||||||||||||
2 | Reason for the notification
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(a) | Position/Status | 1. Chief Executive 2. Chief Financial Officer 3. Chief Technology Officer 4. Chief Clinical Officer 5. Corporate Development Director 6. Chief Commercial Officer 7. Chief Operating Officer 8. Chief Research Officer 9. Head of People | ||||||||||||||||||||||||||||||
(b) | Initial notification / Amendment | Initial notification
| ||||||||||||||||||||||||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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(a) | Name | Kooth Plc
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(b) | LEI | 2138001YLGO1L8UYOM90 | ||||||||||||||||||||||||||||||
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 £0.05
ISIN: GB00BMCZLK30 | ||||||||||||||||||||||||||||||
(b) | Nature of the transaction
| Grant of awards over ordinary shares
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(c) | Price(s) and volume(s) |
| ||||||||||||||||||||||||||||||
(d) | Aggregated Information - Aggregated volume
- Price |
N/A
N/A
| ||||||||||||||||||||||||||||||
(e) | Date of the Transaction | 2 November 2020 | ||||||||||||||||||||||||||||||
(f) | Place of the Transaction | Outside a Trading Venue | ||||||||||||||||||||||||||||||
Name of authorised official of issuer responsible for making notification: | Sanjay Jawa, Chief Financial Officer, Kooth plc | |||||||||||||||||||||||||||||||
For further information, please contact:
Kooth plc |
|
Tim Barker, Chief Executive Sanjay Jawa, Chief Financial Officer | investorrelations@kooth.com
|
Panmure Gordon, Nominated Adviser and sole Broker |
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Corporate Finance: Dominic Morley, Nicholas Harland, Sandy Clark Corporate Broking: Erik Anderson | +44 (0) 20 7886 2500 |
FTI Consulting |
|
Jamie Ricketts Alex Shaw | kooth@fticonsulting.com |
| |
About Kooth
Kooth is the UK's largest digital mental health provider to the NHS for children and young people aged 10-25. Our mission is to provide accessible and safe spaces for everyone to achieve better mental health. Our online platform is clinically robust and accredited to provide a range of therapeutic support and interventions. All our services are predicated on easy access to make early intervention and prevention a reality.
Kooth's platforms are commissioned by 77% of the NHS's clinical commissioning group areas across England. It is a fully safeguarded and pre-moderated community with a library of peer and professional created content, alongside access to experienced online counsellors. There are no thresholds for support and no waiting lists.
Kooth was established in 2001. For more information: www.koothplc.com
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