22 Jul 2020 07:00
22 July 2020
Sumo Group plc
("Sumo Group" or the "Company")
Awards under The Sumo Group plc Share Incentive Plan to Executive Directors
The Company announces that it received notification on 21 July 2020 from Link Market Services Trustees Limited (the "SIP Trustee") that the SIP Trustee awarded ordinary shares of 1p each in the Company ("Ordinary Shares") to Executive Directors under the Sumo Group plc Share Incentive Plan (the "SIP") on 20 July 2020.
Under the terms of the SIP, each eligible employee can contribute from salary to purchase Partnership Shares and the Company matches these by awarding one Matching Share for each three Partnership Shares purchased.
In respect of the Matching Shares, the SIP award has been satisfied by the issue of 918 new Ordinary Shares to the SIP Trustee at a subscription price of 1p per share, being the nominal value of the shares. The SIP Shares shall rank equally with the existing issued shares of the Company. The SIP Shares will be allocated out of the shares which were the subject of the block listing announced on 5 July 2018.
In respect of the Partnership Shares, the SIP Trustee has purchased (using the cash contributions made by the Executive Directors) a total of 2,754 Ordinary Shares at a price of 196 p per share.
PDMR Dealing
As participants in the SIP, the Executive Directors are deemed to have an interest in the shares awarded to them and held by the SIP Trustee. Details of the awards under the SIP to the Executive Directors are set out below:
Executive Director | Partnership Shares | Matching Shares | Total Share Award | Total Share Holding Post Award | % of Issued Share Capital |
Carl Cavers | 918 | 306 | 1,224 | 4,651,340 | 2.92 |
David Wilton | 918 | 306 | 1,224 | 336,933 | 0.21 |
Paul Porter | 918 | 306 | 1,224 | 4,505,148 | 2.83 |
The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014:
1. | Details of PDMR / person closely associated | |||||||||||||||
a) | Name | (i) Carl Cavers (ii) David Wilton (iii) Paul Porter
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2. | Reason for the notification | |||||||||||||||
a) | Position / status | (i) Chief Executive Officer (ii) Chief Financial Officer (iii) Chief Operating Officer
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b) | Initial notification /amendment | Initial notification | ||||||||||||||
3. | Details of the issuer | |||||||||||||||
a) | Name | Sumo Group plc | ||||||||||||||
b) | LEI | 213800LTZXJCG5QKIM14 | ||||||||||||||
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 | Ordinary Shares of 1p each | ||||||||||||||
b) | Identification code of the Financial Instrument | ISIN for Sumo Group plc: GB00BD3HV384 | ||||||||||||||
c) | Nature of the transaction | Acquisition of Ordinary Shares in Sumo Group plc by the SIP Trustees pursuant to the SIP
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d) | Price(s) and volume(s) |
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e) | Aggregated information - Aggregated volume - Price | N/A
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f) | Date of the transaction | 20 July 2020 | ||||||||||||||
g) | Place of the transaction | Partnership Shares - London Stock Exchange (XLON) Matching Shares - off market | ||||||||||||||
Enquiries: | |
Sumo Group plc | Via Belvedere Communications |
Carl Cavers, Chief Executive Officer | Tel: +44 (0) 7715 769 078 |
David Wilton, Chief Financial Officer | |
Zeus Capital Limited (Nominated Adviser & Joint Broker) | |
Nick Cowles / Andrew Jones | Tel: +44 (0) 161 831 1512 |
Ben Robertson / John Goold | Tel: +44 (0) 203 829 5000 |
Investec Corporate & Investment Banking (Joint Broker) | |
David Flin / Bruce Garrow | Tel: +44 (0) 207 597 5970 |
Belvedere Communications Limited | |
Cat Valentine | Tel: +44 (0) 7715 769 078 |
Keeley Clarke | Tel: +44 (0) 7967 816 525 |
Llew Angus | Tel: +44 (0) 7407 023 147 |
SumoPR@belvederepr.com | |
About Sumo Group plc
Sumo Group's businesses provide acclaimed development and design services to the video games and entertainment industries from studios in the UK, India, and Canada.
Sumo Digital, as the Group's primary business, is one of the UK's largest independent developers of AAA-rated video games, having studios in Sheffield, Newcastle, Nottingham, Leamington Spa, Warrington and Pune, India. The business has acquired three studios since IPO, which operate under their own names, BAFTA award-winning The Chinese Room in Brighton, Red Kite Games in Leeds and Lab42 in Leamington Spa. Sumo Digital provides turnkey and co-development solutions to a global blue-chip client base.
Atomhawk is a multi-award-winning visual design company, with studios in Newcastle and in Vancouver (Canada), servicing the games, film and visual effects industries.