Director Dealing, Issue and Exercise of Options

RNS Number : 4199Q

Altitude Group PLC

06 June 2018

 

ALTITUDE GROUP PLC

 (the "Company" or "Altitude")

Director Dealing, Issue of Options and Exercise of Options

Altitude Group plc (AIM: ALT), the operator of a leading marketplace for personalised products, announces the following matters concerning the ordinary shares of the Company:

Director Dealing

The Company has been notified that Nichole Stella, Chief Executive Officer, yesterday bought 8,000 ordinary shares of 0.4 pence each in the Company ("Ordinary Shares") at a price of 94.7 pence per Ordinary Share (the "Share Purchase"). Following the Share Purchase Nichole will be interested in 8,000 Ordinary Shares.

Issue of Options

The Company has today issued 1,650,000 share options in aggregate to Chief Executive Officer Nichole Stella and Chief Financial Officer Graeme Couturier (the "Options").

Nichole Stella has been issued nil cost options over 1,000,000 Ordinary Shares. Following the issue of Options Nichole will be interested in options over 1,437,609 Ordinary Shares in total. Mr. Couturier has been issued options over 400,000 Ordinary Shares at 60p each and over 250,000 Ordinary Shares at nil cost. These represent the first grant of options over Ordinary Shares to Graeme.

The Options will vest subject to the following conditions and expire on the fifth anniversary of the date of grant:

·     50% of the Options for each individual will vest on a time accrued basis over three years; and

·     50% of the Options for each individual will vest in three equal tranches on the market price of the Ordinary Shares reaching (i) 200p; (ii) 250p; and (iii) 300p.

Non-Executive Chairman Peter Hallett commented:

"I am delighted that we have implemented this long-term incentive mechanism for Nikki and Graeme who are both integral members of our executive team and will be crucial to helping the Company achieve its ambitious growth targets. The option awards are an attractive incentive to deliver substantial gains to all shareholders."

Exercise of Options

The Company has been notified that Shaun Parker, Chief Operating Officer, and Deborah Wilkinson, Head of Technology and a PDMR, have each exercised options over Ordinary Shares. Shaun Parker has exercised 250,000 options at a price of 11.95 pence per Ordinary Share and Deborah Wilkinson has exercised 600,000 options at a price of 10.55 pence per Ordinary Share.

Application has been made for the 850,000 new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 12 June 2018 ("Admission"). The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company. Following Admission, the Company's issued share capital will consist of 54,195,192 Ordinary Shares. Accordingly, the figure of 54,195,192 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 Guidance and Transparency Rules.

Enquiries:

Altitude Group plc Nichole Stella, Chief Executive Officer Peter Hallett, Non - Executive Chairman Graeme Couturier, Chief Financial Officer	[phone] 07887 987469 07973 683234
finnCap ltd	020 7220 0500
Jonny Franklin-Adams (Corporate Finance)
Scott Mathieson (Corporate Finance)
Richard Chambers (ECM)

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Nichole Stella
2.	Reason for the Notification
a)	Position/status	PDMR - 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	Altitude Group plc
b)	LEI	213800VACSTYYSI39R89
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 0.4p
	Identification code	GB00B0LSFV82
b)	Nature of the transaction	Issue of Options Share purchase
c)	Price(s) and volume(s)	Price(s) Volume(s) 0p 1,000,000 94.7p 8,000
d)	Aggregated information: ·      Aggregated volume ·      Price	See above
e)	Date of the transaction	06 June 2018
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Graeme Couturier
2.	Reason for the Notification
a)	Position/status	PDMR - 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	Altitude Group plc
b)	LEI	213800VACSTYYSI39R89
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 0.4p
	Identification code	GB00B0LSFV82
b)	Nature of the transaction	Issue of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) 60p 400,000 0p 250,000
d)	Aggregated information: ·      Aggregated volume ·      Price	650,000 As above
e)	Date of the transaction	06 June 2018
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Deborah Wilkinson
2.	Reason for the Notification
a)	Position/status	PDMR - Head of Technology
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	213800VACSTYYSI39R89
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 0.4p
	Identification code	GB00B0LSFV82
b)	Nature of the transaction	Exercise of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) 10.55p 600,000
d)	Aggregated information: ·      Aggregated volume ·      Price	See above
e)	Date of the transaction	05 June 2018
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Shaun Parker
2.	Reason for the Notification
a)	Position/status	Director - Chief Operating Officer
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	213800VACSTYYSI39R89
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 0.4p
	Identification code	GB00B0LSFV82
b)	Nature of the transaction	Exercise of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) 11.95p 250,000
d)	Aggregated information: ·      Aggregated volume ·      Price	See above
e)	Date of the transaction	05 June 2018
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

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