25 Aug 2017 07:00
25 August 2017
AIM: UNG.L
Universe Group plc
("Universe" or the "Company")
Grant of Options
Universe Group plc (AIM: UNG.L), a leading developer and supplier of point of sale, payment and on-line loyalty systems announces that the Remuneration Committee has today approved the grant of three tranches of share options ("Options") to subscribe for ordinary shares of 1p each in the Company ("Shares"). These will be granted to Daryl Paton, an executive director ("Director").
Tranche 1
A total of 500,000 Options will be granted under Tranche 1 to the Director.
These Options will have an exercise price of 9.75p and may be exercised only if the Company's share price is at or above an average of 14.25 pence per share for the four week period following the announcement of the Company's results for the year ending 31 December 2018.
Tranche 2
A further 717,000 Options will be conditionally granted to the Director under Tranche 2. These Options will also have an exercise price of 9.75p and may be exercised only if the Company's share price is at or above an average of 21p for the four week period following the announcement of the Company's results for the year ending 31 December 2018. The grant of these Options is conditional on the Director making market purchases of Shares to the value of a percentage of his gross annual salary by an agreed date.
Tranche 3
A further 717,000 Options will be conditionally granted to the Director under Tranche 3. These Options will have an exercise price of 9.75p and may be exercised only if the Company's share price is at or above an average of 32p for the four week period following the announcement of the Company's results for the year ended 31 December 2018. The grant of these Options is conditional on the Director making market purchases of Shares to a value of a percentage of his gross cash bonus for the financial years ended 31 December 2017 and 2018 within one month of such bonuses becoming payable.
All Options are subject to change of control provisions and expire on the tenth anniversary of grant.
Following the grants of all these Options the Director would have the following Options:
Director | Options granted | Scheme granted under: | Vesting period | Total Options now held |
Daryl Paton | 1,934,000 | EMI Share Option Scheme | As above | 1,934,000 |
Following the grants, a total of 25,828,000 Options (representing approximately 11.12 per cent. of the Company's enlarged issued share capital) will remain outstanding.
For further information:
Universe Group plc Robert Goddard, Chairman Jeremy Lewis, Chief Executive | T: +44 2380 689 510 |
finnCap Stuart Andrews (Corporate Finance) Richard Chambers (Corporate Broking)
| T: +44 20 7220 0500 |
IFC Advisory Tim Metcalfe Heather Armstrong | T: +44 20 7652 9781 |
About Universe Group plc:
Universe provides some of the world's leading retailers with point of sale, payment and loyalty solutions. The Company's solutions are based on its own proprietary software and are offered out of the cloud on a software as a service model with its data centres processing in excess of 5 billion transactions every year. For further information, please see www.universeplc.com.
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Daryl Paton | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Chief Financial Officer | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Universe Group plc | ||||
b) | LEI | n/a | ||||
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 1 pence | ||||
Identification code | GB0009483594 | |||||
b) | Nature of the transaction | Grant of options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price |
Tranche 1: 500,000 ordinary shares of 1 pence each (granted) at 9.75 pence per ordinary share
Tranche 2: 717,000 ordinary shares of 1 pence each (granted) at 9.75 pence per ordinary share
Tranche 3: 717,000 ordinary shares of 1 pence each (granted) at 9.75 pence per ordinary share
| ||||
e) | Date of the transaction | 25 August 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||