Last checked at 23 Mar 2017 13:00
23 March 2017
SCIENCE IN SPORT PLC
("SiS" or the "Company")
PDMR Dealings, Issue of Equity and Total Voting Rights
Science in Sport plc (AIM: SIS), a leading sports nutrition company that develops, manufactures and markets sports nutrition produces for professional athletes and sports enthusiasts announces that it has made awards in the form of nil cost options under the terms of the Company's long term incentive plan ("LTIP") and short term incentive plan ("STIP") including to persons discharging managerial responsibility ("PDMRs") for the purposes of the Market Abuse Regulation ("MAR"). Details of the awards are set out below together with the information required under MAR in respect of PDMR dealings.
Under the LTIP previously announced to the market on 26 September 2016, awards have been made in respect of 1,216,928 ordinary shares. None of the awards can be exercised until 2019.
Awards under the STIP for the 2016 financial year ("STIP 2016") have been made in respect of 1,021,101 ordinary shares. There are no outstanding performance conditions in respect of these options and they vested immediately on grant.
Awards under the STIP for the 2017 financial year ("STIP 2017") have been made in respect of 760,887 ordinary shares. These options will not vest before 1 January 2018 and are subject to business and personal performance conditions being satisfied during the 2017 financial year.
The LTIP, STIP 2016 and STIP 2017 awards are set out below:
Awards under | ||||
Name | Position | LTIP | STIP 2016 | STIP 2017
|
John Clarke | Chairman | 130,909 | 0 | 0 |
Stephen Moon | Chief Executive Officer | 584,143 | 623,721 | 460,164 |
Elizabeth Lake | Finance Director | 96,727 | 58,850 | 81,278 |
Ian Houghton | Commercial Director | 160,000 | 97,345 | 69,444 |
Ashley Read | Marketing Director | 130,909 | 79,646 | 55,556 |
Daniel Howarth | General Manager | 114,240 | 69,504 | 50,000 |
Mark McKechnie | Head of E-Commerce | 0 | 61,947 | 44,444 |
Others | N/A | 0 | 30,088 | 0 |
Totals | 1,216,928 | 1,021,101 | 760,887 | |
Following the grant of the awards, the directors' interests in options over ordinary shares in the Company (vested and unvested and conditional on the achievement of all performance conditions) is as follows:
Name | Position | Vested Options | Conditional Options* | Total Options |
John Clarke | Chairman | 352,269 | 261,818 | 614,087 |
Stephen Moon | Chief Executive Officer | 2,892,870 | 1,628,450 | 4,521,320 |
Elizabeth Lake | Finance Director | 155,577 | 468,186 | 623,763 |
Timothy Wright | Non-Executive Director | 0 | ||
Raymond Duignan | Non-Executive Director | 0 | ||
Total | 3,400,716 | 2,358,454 | 5,759,170 |
* the conditional options relate to the 2017 STIP and years 2 and 3 of the LTIP which are conditional upon performance criteria being met over the future periods.
In order to meet its obligations in respect of the awards under the LTIP and the awards under the STIP 2016, the Company is issuing a total of 2,238,029 ordinary shares ("New Shares") to the Employee Benefit Trust. Application has been made for these shares to be admitted to trading on AIM and it is expected that admission will take place at 8 a.m. on 30 March 2017.
Following the issue of the New Shares, for the purposes of the Disclosure and Transparency Rules, the capital of the Company will consist of 45,613,456 Ordinary Shares with a nominal value of £0.10 each. The Company does not hold any Ordinary Shares in Treasury. Therefore, the total number of voting rights in the Company will be 45,613,456 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
For further information:
Science in Sport PLC | +44 (0) 20 7400 3700 |
Stephen Moon, CEO |
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Elizabeth Lake, Finance Director |
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Cenkos Securities - NOMAD and Broker |
+44 (0) 20 7397 8900 |
Bobbie Hilliam
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Yellow Jersey PR - Financial PR |
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Felicity Winkles | +44 (0) 7748 843 871 |
Harriet Jackson | +44 (0) 7544 275 882 |
Notes for editors
About Science in Sport plc
Science in Sport plc is a leading sports nutrition company that develops, manufactures and markets sports nutrition products for professional athletes and sports enthusiasts. SiS is a strong brand in the elite athlete community - in the 2016 London Olympics, 34 medal-winning athletes or teams used SiS products (compared with 24 in 2012).
A key component of this trust is the Company's approach to preventing banned substances entering its supply chain and finished products. Each year an internal review of the banned substance prevention regime takes place, and from January 2017 an upgraded system has been implemented. The enhanced regime is built on the following pillars:
· Every single batch of SIS finished product which leaves the Company's factory is screened against the 2017 World Anti-Doping Agency (WADA) list. Banned substances including steroids are tested to the level of 10 Nanograms per gram, and stimulants to 100 Nanograms per gram
· Batches (sampled at the beginning, during and end of each product batch) receive the recognised and respected Informed Sport certificate and SIS provides the documentation to athletes on request
SiS is currently the official sports nutrition supplier to professional cycling team Team Sky, USA Cycling, British Cycling and Liverpool Football Club. Sir Chris Hoy & Katarina Johnson-Thompson are official brand ambassadors and cyclist Mark Cavendish is also an elite sports consultant.
The SiS core product range includes: SiS GO, comprising energy powders, isotonic gels, energy bars and hydration tablets, SiS REGO, including protein-based recovery powders and SiS Protein, products specifically designed to contribute to athletes' lean muscle mass growth and maintenance. SiS products are sold in a range of retail channels, including specialist sport retailers, major grocers, high street retailers and e-commerce websites.
SiS was founded in 1992 and is headquartered in Hatton Garden, London. Its manufacturing facility is in Nelson, Lancashire.
SiS shares are traded on the AIM market of the London Stock Exchange under the ticker symbol SIS.
For further information, please visit www.scienceinsport.com
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Stephen Moon | ||||||
2 | Reason for 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 | SCIENCE IN SPORT PLC | ||||||
b. | LEI | 213800FWYWBJFJPPJ981 | ||||||
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 instrumentIdentification Code | Ordinary Shares of 10p each
ISIN: GB00BBPV5329 | ||||||
b. | Nature of the transaction | Grant of nil cost options under the Company's long and short term incentive plans | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil Cost | 1,668,028 | |||||||
| ||||||||
d. | Aggregated information - Aggregated Volume - Price
| N/A | ||||||
e. | Date of the transaction | 2017-03-22 | ||||||
f. | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Elizabeth Lake | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Finance Director | ||||||
b. | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | SCIENCE IN SPORT PLC | ||||||
b. | LEI | 213800FWYWBJFJPPJ981 | ||||||
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 instrumentIdentification Code | Ordinary Shares of 10p each
ISIN: GB00BBPV5329 | ||||||
b. | Nature of the transaction | Grant of nil cost options under the Company's long and short term incentive plans | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil Cost | 236,855 | |||||||
| ||||||||
d. | Aggregated information - Aggregated Volume - Price
| N/A | ||||||
e. | Date of the transaction | 2017-03-22 | ||||||
f. | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | John Clarke | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Chairman | ||||||
b. | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | SCIENCE IN SPORT PLC | ||||||
b. | LEI | 213800FWYWBJFJPPJ981 | ||||||
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 instrumentIdentification Code | Ordinary Shares of 10p each
ISIN: GB00BBPV5329 | ||||||
b. | Nature of the transaction | Grant of nil cost options under the Company's long term incentive plan | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil Cost | 130,909 | |||||||
| ||||||||
d. | Aggregated information - Aggregated Volume - Price
| N/A | ||||||
e. | Date of the transaction | 2017-03-22 | ||||||
f. | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Ian Houghton | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Commercial Director | ||||||
b. | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | SCIENCE IN SPORT PLC | ||||||
b. | LEI | 213800FWYWBJFJPPJ981 | ||||||
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 instrumentIdentification Code | Ordinary Shares of 10p each
ISIN: GB00BBPV5329 | ||||||
b. | Nature of the transaction | Grant of nil cost options under the Company's long and short term incentive plans | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil Cost | 326,789 | |||||||
| ||||||||
d. | Aggregated information - Aggregated Volume - Price
| N/A | ||||||
e. | Date of the transaction | 2017-03-22 | ||||||
f. | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Ashley Read | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Marketing Director | ||||||
b. | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | SCIENCE IN SPORT PLC | ||||||
b. | LEI | 213800FWYWBJFJPPJ981 | ||||||
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 instrumentIdentification Code | Ordinary Shares of 10p each
ISIN: GB00BBPV5329 | ||||||
b. | Nature of the transaction | Grant of nil cost options under the Company's long and short term incentive plans | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil Cost | 266,111 | |||||||
| ||||||||
d. | Aggregated information - Aggregated Volume - Price
| N/A | ||||||
e. | Date of the transaction | 2017-03-22 | ||||||
f. | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Daniel Howarth | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | General Manager | ||||||
b. | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | SCIENCE IN SPORT PLC | ||||||
b. | LEI | 213800FWYWBJFJPPJ981 | ||||||
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 instrumentIdentification Code | Ordinary Shares of 10p each
ISIN: GB00BBPV5329 | ||||||
b. | Nature of the transaction | Grant of nil cost options under the Company's long and short term incentive plans | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil Cost | 233,744 | |||||||
| ||||||||
d. | Aggregated information - Aggregated Volume - Price
| N/A | ||||||
e. | Date of the transaction | 2017-03-22 | ||||||
f. | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Mark McKechnie | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Head of E-Commerce | ||||||
b. | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | SCIENCE IN SPORT PLC | ||||||
b. | LEI | 213800FWYWBJFJPPJ981 | ||||||
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 instrumentIdentification Code | Ordinary Shares of 10p each
ISIN: GB00BBPV5329 | ||||||
b. | Nature of the transaction | Grant of nil cost options under the Company's short term incentive plans | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil Cost | 106,391 | |||||||
| ||||||||
d. | Aggregated information - Aggregated Volume - Price
| N/A | ||||||
e. | Date of the transaction | 2017-03-22 | ||||||
f. | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | |||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | |||||||
b. | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | SCIENCE IN SPORT PLC | ||||||
b. | LEI | 213800FWYWBJFJPPJ981 | ||||||
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 instrumentIdentification Code | Ordinary Shares of 10p each
ISIN: GB00BBPV5329 | ||||||
b. | Nature of the transaction | Grant of nil cost options under the Company's long and short term incentive plans | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil Cost | ||||||||
| ||||||||
d. | Aggregated information - Aggregated Volume - Price
| N/A | ||||||
e. | Date of the transaction | 2017-03-22 | ||||||
f. | Place of the transaction | Outside a trading venue | ||||||