8 Feb 2017 15:05
Altitude Group plc
(the "Company")
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ISSUE OF SHARE OPTIONS
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The Company announces that it has today issued share options to Sanjay Lobo and Gellan Watt, who have joined the Company as Managing Director and Non-Executive Director respectively as announced on 25 January 2017. Mr. Lobo's appointment to the Board remains subject to completion of customary due diligence.
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Mr. Lobo and Mr. Watt have each been issued options under the Company EMI Scheme over 238,095 ordinary shares of 0.4p each ("Ordinary Shares"), exercisable at a price of 84p per share and vesting subject to the conditions set out below (the "Options"):
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· 50% of the Options will vest on a time accrued basis over three years; and
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· 50% of the Options will vest in three equal tranches on the market price of the Ordinary Shares reaching (i) 100p; (ii) 130p; and (iii) 160p.
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The Options expire on the fifth anniversary of the date of grant.
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In addition, Mr. Lobo has been issued options under the Company Unapproved Option Scheme over a further 47,619 Ordinary Shares on the same terms.
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Enquiries:
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Altitude Group plc Peter Hallett, Chairman | 07887 987469 |
WH Ireland Limited (Nominated Adviser and Broker) Tim Feather/Ed Allsopp | 0113 394 6600 |
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The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on shares acquired.
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1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Sanjay Lobo | ||||
2 | Reason for the notification | |||||
a) | Position/status | Managing Director, Altitude Group plc | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Altitude 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  Identification code | Ordinary shares of 0.4p each   GB00B0LSFV82  | ||||
b) | Nature of the transactions | Issue of options over Ordinary Shares | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price |  285,714 £240,000 | ||||
e) | Date of the transaction | 8 February 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM |
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1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Gellan Watt | ||||
2 | Reason for the notification | |||||
a) | Position/status | Non-Executive Director, Altitude Group plc | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Altitude 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  Identification code | Ordinary shares of 0.4p each   GB00B0LSFV82  | ||||
b) | Nature of the transactions | Issue of options over Ordinary Shares | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price |  238,095 £200,000 | ||||
e) | Date of the transaction | 8 February 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM |
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