Issue of LTIP units

RNS Number : 3364I

Blackbird PLC

14 April 2022

 

14 April 2022

Blackbird plc

(the "Company")

Issue of LTIP units

Blackbird plc (AIM: BIRD, OTCQX: BBRDF), the technology licensor, developer and seller of market-leading cloud video platform, Blackbird, announces that it has today issued units to Directors and senior management of the Company, pursuant to the Company's Long Term Incentive Plan ("LTIP") which was approved by shareholders at the 2019 Annual General Meeting when the closing share price was 6.25 pence the previous day.

Details of the number of units being issued to each Director are set out below.

Name	Title	LTIP1 units being issued	LTIP2 units being issued	LTIP1 units held post issue	LTIP2 units
					held post issue
Ian McDonough	Chief Executive Officer	282.41	-	639.61	191.90
Stephen Streater	R&D Director	188.28	-	237.58	115.10
Stephen White	Chief Operating and Financial Officer	94.14	-	143.44	115.10

Under the LTIP, LTIP 1 and LTIP 2 units are designed to allow individuals to share in improving shareholder value above a base share price (15p and 20p for LTIP 1 and LTIP 2 respectively). The LTIP is designed to reward specific individuals through cash payments for activities that drive value creation for shareholders. Each of LTIP 1 and LTIP 2 consists of 5,000 LTIP units that collectively form a pool and the value of each pool is calculated at 5% of the increase in the Company's share price above the respective base share price for each pool.

In total 941.38 LTIP1 units are today being issued to Directors and senior management. This will be the final award for the first LTIP period which ran from 1 January 2019 to 31 December 2021.  Including today's issue, the total number of awards issued is 1,438.28 LTIP1 units and 518.10 LTIP2 units. Details of the LTIP are set out in the investors section of the Company's website. 

Enquiries:

Blackbird plc

Ian McDonough, Chief Executive Officer

Stephen White, Chief Operating and Financial Officer Tel: [phone]

Allenby Capital Limited (Nominated Adviser and Broker) Nick Naylor / Piers Shimwell (Corporate Finance) Amrit Nahal (Sales and Corporate Broking) Tel: [phone]

About Blackbird plc

Blackbird plc operates in the fast-growing SaaS and cloud video market. It has created Blackbird®, the world's most advanced suite of cloud-native computing applications for video, all underpinned by its lightning-fast codec. Blackbird plc's patented technology allows for frame accurate navigation, playback, viewing and editing in the cloud. Blackbird® enables multiple applications, which are used by rights holders, broadcasters, sports and news video specialists, esports, live events and content owners, post-production houses, other mass market digital video channels and corporations.

Since it is cloud-native, Blackbird® removes the need for costly, high end workstations and can be used from almost anywhere on almost any device. It also allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for digital distribution, and ultimately results in much more effective monetisation.

Blackbird plc is a licensor of its core video technology under its 'Powered by Blackbird' licensing model. Enabling video companies to accelerate their path to true cloud business models, licensees benefit from power and carbon reductions, cost and time savings, less hardware and bandwidth requirements and easy scalability.

www.blackbird.vide o

www.linkedin.com/company/blackbird-cloud

www.twitter.com/blackbirdcloud

www.facebook.com/blackbirdplc  

www.youtube.com/c/Blackbirdcloud

 

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