21 Aug 2018 07:00
21 August 2018
LOOPUP GROUP PLC
("LoopUp Group" or the "Group")
Grant of Share Options and Notification of Director / PDMR Dealings
LoopUp Group plc (LSE AIM: LOOP), the premium remote meetings company, announces that the Group's Remuneration Committee and the Board have approved the grant of options of up to 2,285,000 ("New Options") over ordinary shares of 0.5 pence each ("Ordinary Shares") to 112 employees, including Executive Directors and PDMRs, pursuant to the Group's existing share option schemes.
All New Options were granted with an exercise price of 440.0 pence each, being the closing middle market price on 20 August 2018. The New Options will vest over four years, one quarter at the end of year one and then three quarters on a monthly basis over years two to four.
The grant of 2,285,000 New Options equates to 4.16% of the Group's current issued share capital. In total, 4,969,534 options are now under grant but not exercised ("Total Options"), which equates to 9.06% of the Group's current issued share capital. The weighted average exercise price of Total Options is approximately 2.39 pence. The Group currently has a total number of ordinary shares in issue is 54,880,154.
The Board of the Group considers share options an effective and important mechanism to incentivise and retain key employees of the enlarged Group and to align them with shareholder interests. This is the first set of share options granted to employees since the Group's IPO in August 2016 and the first set granted to Executive Directors and PDMRs since 2014.
New Options granted to Director / PDMRs
The following PDMRs of the Group were granted share options, which are included in the totals above:
Options | Shares | ||||||
Name | Title | New Options granted | Total number of options held post grant | Options as % of issued share capital | Number of shares | % of issued share capital | |
Steve Flavell | co-CEO, Director | 120,000 | 120,000 | 0.22% | 2,527,294 | 4.61% | |
Michael Hughes | co-CEO, Director | 120,000 | 1,000,000 | 1.82% | 2,457,294 | 4.48% | |
Simon Healey | CFO, Director | 60,000 | 160,000 | 0.29% | - | - | |
Marcus Greensit | COO, PDMR | 120,000 | 420,000 | 0.77% | 150,000 | 0.27% | |
Alex Breen | CPO, PDMR | 70,000 | 180,218 | 0.33% | 451,707 | 0.82% | |
Benjamin Fried | Group Commercial VP, PDMR | 60,000 | 60,000 | 0.11% | - | - | |
Edward Cooper | General Counsel, PDMR | 40,000 | 40,000 | 0.07% | - | - | |
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) 20 7886 2500 |
Dominic Morley / Alina Vaskina (Corporate Finance) | |
Erik Anderson (Corporate Broking) | |
Numis Securities Limited | +44 (0) 20 7260 1000 |
Simon Willis / Jonny Abbott (Corporate Finance) | |
Tom Ballard (Corporate Broking) | |
FTI Consulting, LLP | +44 (0) 20 3727 1000 |
Matt Dixon / Harry Staight |
About LoopUp Group plc
LoopUp (LSE AIM: LOOP) is a premium remote meetings solution. Streamlined and intuitive, LoopUp is built for business users and delivers the quality, security and reliability required in the enterprise. One-click screen sharing and integration with tools business people use every day, like Outlook™, make it easy for LoopUp users to collaborate in real time. LoopUp's award-winning SaaS solution doesn't overwhelm users with features, and doesn't require training. Over 2,000 enterprises worldwide, including Travelex, Kia Motors America, Planet Hollywood, National Geographic, and Subaru trust LoopUp with their remote meetings.
The Group is headquartered in London, with offices in San Francisco, New York, Boston, Hong Kong 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. Alex Breen, CPO, PDMR 6. Benjamin Fried, Group Commercial VP, PDMR 7. 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
| Grant of New Options | ||||||||||||||||
d)
| Price(s) and volume(s) |
| ||||||||||||||||
d)
| Aggregated information - Aggregated volume - Price |
2,285,000 New Options over ordinary shares 440.0p | ||||||||||||||||
e)
| Date of the transaction | 20 August 2018 | ||||||||||||||||
f)
| Place of the transaction | London Stock Exchange | ||||||||||||||||