24 Jun 2019 07:00
24 June 2019
Sumo Group plc
("Sumo Group" or the "Company")
Exercise of Share Option and Director's Dealing
Sumo Group announces that David Wilton, Chief Financial Officer, has exercised an option to acquire 500,000 ordinary shares of 1 penny each in the Company ("Ordinary Shares") pursuant to the terms of the Company's Long-Term Incentive Plan. This option was awarded at the time of the Company's admission to AIM on 21 December 2017 and has no performance conditions.
The exercise of the option has triggered a tax liability and David has sold 235,000 Ordinary Shares to meet this liability. The sale took place on 21 June 2019 at a price of 140.69 pence per Ordinary Share.
Following this transaction, David Wilton's interest in Ordinary Shares is 330,709 representing 0.22% per cent. of the Company's issued Ordinary Share capital.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
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) | Name | David Wilton |
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2 | Reason for the notification |
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a) | Position/status | Chief Financial Officer |
b) | Initial notification /Amendment | Initial notification |
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3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Sumo Group plc |
b) | LEI | 213800LTZXJCG5QKIM14 |
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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 | Ordinary shares of £0.01
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| Identification code | SUMO | |
b) | Nature of transaction | Option exercise | |
c) | Price(s) and volume(s) | Price | Volume |
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| nil | 500,000 |
d) | Aggregated information - Aggregated volume - Price |
N/A | |
e) | Date of the transaction | 21 June 2019 | |
f) | Place of the transaction | Private transaction | |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | David Wilton |
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2 | Reason for the notification |
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a) | Position/status | Chief Financial Officer |
b) | Initial notification /Amendment | Initial notification |
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3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Sumo Group plc |
b) | LEI | 213800LTZXJCG5QKIM14 |
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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 | Ordinary shares of £0.01
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| Identification code | SUMO | |
b) | Nature of transaction | Sale | |
c) | Price(s) and volume(s) | Price | Volume |
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| 140.69p | 235,000 |
d) | Aggregated information - Aggregated volume - Price |
N/A | |
e) | Date of the transaction | 21 June 2019 | |
f) | Place of the transaction | London Stock Exchange, AIM | |
Enquiries: | |
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Sumo Group plc | Tel: +44 (0) 114 242 6766 |
Carl Cavers, Chief Executive Officer |
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David Wilton, Chief Financial Officer |
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Zeus Capital Limited (Nominated Adviser & Broker) |
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Nick Cowles / Andrew Jones | Tel: +44 (0) 161 831 1512 |
Ben Robertson / John Goold | Tel: +44 (0) 203 829 5000 |
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Belvedere Communications Limited |
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Cat Valentine (cvalentine@belvederepr.com) | Tel: +44 (0) 7715 769 078 |
Keeley Clarke (kclarke@belvederepr.com) | Tel: +44 (0) 7967 816 525 |
Llew Angus (langus@belvederepr.com) | Tel: +44 (0) 7407 023 147 |
About Sumo Group - www.sumogroupplc.com
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, Huddersfield, Leamington Spa and Pune, India. The business has acquired two studios since IPO, which operate under their own names, BAFTA award-winning The Chinese Room and Red Kite Games. 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.
Together, the Group delivers full-spectrum visual and development solutions, which include initial visual concepts, conceiving new products and game development involving all aspects of pre-production, production & development, as well as supporting games as a service.