31 Aug 2018 07:00
31 August 2018
LOOPUP GROUP PLC
Issue of Equity and Grant of Share Options
LoopUp Group plc (LSE AIM: LOOP), the premium remote meetings company, announces that the Company issued 63,000 new Ordinary Shares of 0.5 pence each ("Ordinary Shares") as a result of an exercise of options. The options, which were granted in 2015, were exercised at a price of 75 pence per Ordinary Share.
Application has been made for the 63,000 new Ordinary Shares to be admitted to trading on AIM. It is expected that the dealings in these new Ordinary Shares will commence on 5 September 2018. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares.
Following Admission, the Company will have in issue a total of 54,943,154 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury.
In addition, the Company announces that the Group's Remuneration Committee and the Board have approved the grant of options of 20,000 options ("New Options") over Ordinary Shares to one employee, pursuant to one of the Group's existing share option schemes.
The New Options were granted with an exercise price of 439.5 pence each, being the closing middle market price on 29 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 20,000 New Options equates to 0.04% of the Group's issued share capital following the admission of the new Ordinary Shares as announced above. In total, following the issue of these options and the exercise of the options announced above, 4,926,534 options are now under grant but not exercised ("Total Options") which equates to 8.97% of the Group's issued share capital. The weighted average price of Total Options is approximately £2.43 pence.
For further information:
LoopUp Group PLC | via FTI Consulting, LLP |
Steve Flavell, co-CEO |
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Panmure Gordon (UK) Limited | +44 (0) 207 886 2500 |
Dominic Morley / Alina Vaskina (Corporate Finance) |
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Erik Anderson (Corporate Broking) |
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Numis Securities Limited | +44 (0) 207 260 1000 |
Simon Willis / Jonny Abbott (Corporate Finance) |
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Tom Ballard (Corporate Broking) |
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FTI Consulting, LLP | +44 (0) 203 727 1000 |
Matt Dixon / Harry Staight / Jamille Smith |
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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, Barbados and Australia, and is listed on the AIM market of the London Stock Exchange (LOOP). For further information, please visit: www.loopup.com.