19 Mar 2020 07:01
19 March 2020
LOOPUP GROUP PLC
("LoopUp Group" or the "Group")
Update on measures relating to 2018 and 2019 options grants
and
Director and PDMR Dealings
LoopUp Group plc (LSE AIM: LOOP), the premium remote meetings company, provides an update to the announcement made on 4 December 2019 in relation to the offer made to current employees - excluding co-CEOs Steve Flavell and Michael Hughes - concerning options granted in August 2018 and June 2019.
Following the conclusion of the process, it has resulted in the cancellation of 2,512,250 options granted in August 2018 and June 2019 ("Old Options") and the grant of 2,171,800 new options with an exercise price of 75 pence ("New Options").
The grant of 2,171,800 New Options equates to 3.9% of the Group's current issued share capital. In total, 4,632,645 options over the Company's Ordinary Shares are now outstanding, which equates to 8.4% of the Group's current issued share capital. The Group's current total number of ordinary shares in issue is 55,245,182.
The Group's Remuneration Committee and the Board maintain that these share options are an effective and important mechanism to incentivise and retain key employees of the Group and to align them with shareholder interests.
Cancellation of Old Options and New Options granted to Directors / PDMRs
The following PDMRs of the Group had share options granted or cancelled, which are included in the totals above:
Name | Title | Options | Shares | ||||
Old Options cancelled | New Options granted | Total number of options held post cancellation and grant | Options as % of issued share capital | Number of shares | % of issued share capital | ||
Steve Flavell | co-CEO, Director | (180,000) | - | - | 0.00% | 2,625,875 | 4.75% |
Michael Hughes | co-CEO, Director | (180,000) | - | 880,000 | 1.59% | 2,616,899 | 4.74% |
Simon Healey | CFO, Director | (95,000) | 82,000 | 152,000 | 0.28% | 64,500 | 0.12% |
Marcus Greensit | COO, PDMR | (180,000) | 156,000 | 456,000 | 0.83% | 156,243 | 0.28% |
Robert Jardine | CMO, PDMR | (107,500) | 93,000 | 93,000 | 0.17% | - | - |
AlexBreen | CPO, PDMR | (107,500) | 93,000 | 203,218 | 0.37% | 452,207 | 0.82% |
Benjamin Fried | VP Group Commercial, PDMR | (95,000) | 82,000 | 82,000 | 0.15% | 3,381 | 0.01% |
David Carroll | VP Network Operations, PDMR | (95,000) | 82,000 | 82,000 | 0.15% | - | - |
Koorosh Nouri | VP Engineering, PDMR | (60,000) | 52,000 | 52,000 | 0.09% | - | - |
Edward Cooper | General Counsel, PDMR | (60,000) | 52,000 | 52,000 | 0.09% | 1,114 | 0.00% |
The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation is appended below.
For further information, please contact:
LoopUp Group PLC | via FTI |
Steve Flavell, co-CEO | |
Panmure Gordon (UK) Limited | +44 (0) 207 886 2500 |
Dominic Morley / Alina Vaskina (Corporate Finance) | |
Erik Anderson (Corporate Broking) | |
Numis Securities Limited | +44 (0) 207 260 1000 |
Simon Willis/Jonny Abbott (Corporate Finance) | |
FTI Consulting, LLP | +44 (0) 203 727 1000 |
Matt Dixon / Emma Hall / Jamille Smith / Shamma Kelly |
About LoopUp Group plc
LoopUp (LSE AIM: LOOP) is a premium remote meetings solution. LoopUp helps technology leaders to unlock the true potential of remote meetings in their organisations by combining simple, progressive software with best-in-class audio reliability. Over 2,000 organisations worldwide trust LoopUp's award-wining SaaS solution with their remote meetings, including 20 of the world's top-100 law firms, 24 of the world's top-100 private equity firms, and enterprises such as Travelex, Kia Motors, Planet Hollywood and National Geographic. The Group is headquartered in London, with offices in San Francisco, New York, Boston, Chicago, Dallas, Los Angeles, Atlanta, Denver, Cardiff, Milton Keynes, Madrid, Berlin, Malmo, Hong Kong, Sydney and Barbados, and is listed on the AIM market of the London Stock Exchange (LOOP). For further information, please visit: www.loopup.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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
a)
| Names | 1. Steve Flavell, co-CEO, Director 2. Michael Hughes, co-CEO, Director 3. Simon Healey, CFO, Director 4. Marcus Greensit, COO, PDMR 5. Robert Jardine, CMO, PDMR 6. Alex Breen, CPO, PDMR 7. Benjamin Fried, VP Group Commercial, PDMR 8. David Carroll, VP Network Operations, PDMR 9. Koorosh Nouri, VP Engineering, PDMR 10. Edward Cooper, General Counsel, PDMR | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2
| Reason for the notification | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
a)
| Position/status
| Classified as PDMRs of the Company | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
b)
| Initial notification /Amendment
| Initial Notification | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
a)
| Name
| LoopUp Group plc | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
b)
| LEI | 21380063DQ4WXDQLYB80 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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
| Options over Ordinary Shares of 0.5p each | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
b) | Identification code
| GB00BYQP6S60 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
c)
| Nature of the transaction
| Cancellation of Old Options and Grant of New Options | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
d)
| Price(s) and volume(s) | Cancellation of 2018 Options
Cancellation of 2019 Options
Grant of New Options
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
d)
| Aggregated information - Aggregated volume - Price | Cancellation of 2018 Options 760,000 options at 440p each
Cancellation of 2019 Options 400,000 options at 317.5p each
Grant of New Options 692,000 options at 75p each
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
e)
| Date of the transaction | 19 March 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
f) | Place of the transaction | London Stock Exchange | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||