Grant of Share Options

RNS Number : 3577Y

LoopUp Group PLC

21 August 2018

 

21 August 2018

LOOPUP GROUP PLC

 ("LoopUp Group" or the "Group")

Grant of Share Options and Notification of Director / PDMR Dealings

LoopUp Group plc (LSE AIM: LOOP), the premium remote meetings company, announces that the Group's Remuneration Committee and the Board have approved the grant of options of up to 2,285,000 ("New Options") over ordinary shares of 0.5 pence each ("Ordinary Shares") to 112 employees, including Executive Directors and PDMRs, pursuant to the Group's existing share option schemes.

All New Options were granted with an exercise price of 440.0 pence each, being the closing middle market price on 20 August 2018. The New Options will vest over four years, one quarter at the end of year one and then three quarters on a monthly basis over years two to four.

The grant of 2,285,000 New Options equates to 4.16% of the Group's current issued share capital. In total, 4,969,534 options are now under grant but not exercised ("Total Options"), which equates to 9.06% of the Group's current issued share capital. The weighted average exercise price of Total Options is approximately 2.39 pence. The Group currently has a total number of ordinary shares in issue is 54,880,154.

The Board of the Group considers share options an effective and important mechanism to incentivise and retain key employees of the enlarged Group and to align them with shareholder interests. This is the first set of share options granted to employees since the Group's IPO in August 2016 and the first set granted to Executive Directors and PDMRs since 2014.

New Options granted to Director / PDMRs

The following PDMRs of the Group were granted share options, which are included in the totals above: 

		Options				Shares
Name	Title	New Options granted	Total number of options held post grant	Options as % of issued share capital		Number of shares	% of issued share capital
Steve Flavell	co-CEO, Director	120,000	120,000	0.22%		2,527,294	4.61%
Michael Hughes	co-CEO, Director	120,000	1,000,000	1.82%		2,457,294	4.48%
Simon Healey	CFO, Director	60,000	160,000	0.29%		-	-
Marcus Greensit	COO, PDMR	120,000	420,000	0.77%		150,000	0.27%
Alex Breen	CPO, PDMR	70,000	180,218	0.33%		451,707	0.82%
Benjamin Fried	Group Commercial VP, PDMR	60,000	60,000	0.11%		-	-
Edward Cooper	General Counsel, PDMR	40,000	40,000	0.07%		-	-

The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation is appended below.

For further information, please contact:

LoopUp Group plc	via FTI
Steve Flavell, co-CEO
Panmure Gordon (UK) Limited	[phone]
Dominic Morley / Alina Vaskina (Corporate Finance)
Erik Anderson (Corporate Broking)
Numis Securities Limited	[phone]
Simon Willis / Jonny Abbott (Corporate Finance)
Tom Ballard (Corporate Broking)
FTI Consulting, LLP	[phone]
Matt Dixon / Harry Staight

About LoopUp Group plc

LoopUp (LSE AIM: LOOP) is a premium remote meetings solution. Streamlined and intuitive, LoopUp is built for business users and delivers the quality, security and reliability required in the enterprise. One-click screen sharing and integration with tools business people use every day, like Outlook™, make it easy for LoopUp users to collaborate in real time. LoopUp's award-winning SaaS solution doesn't overwhelm users with features, and doesn't require training. Over 2,000 enterprises worldwide, including Travelex, Kia Motors America, Planet Hollywood, National Geographic, and Subaru trust LoopUp with their remote meetings.

The Group is headquartered in London, with offices in San Francisco, New York, Boston, Hong Kong and Barbados, and is listed on the AIM market of the London Stock Exchange (LOOP). For further information, please visit: www.loopup.com.

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)	Names	1. Steve Flavell, co-CEO, Director 2. Michael Hughes, co-CEO, Director 3. Simon Healey, CFO, Director 4. Marcus Greensit, COO, PDMR 5. Alex Breen, CPO, PDMR 6. Benjamin Fried, Group Commercial VP, PDMR 7. Edward Cooper, General Counsel, PDMR
2	Reason for the notification
a)	Position/status	Classified as PDMRs of the Company
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	LoopUp Group plc
b)	LEI	21380063DQ4WXDQLYB80
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	Options over Ordinary Shares of 0.5p each
b)	Identification code	GB00BYQP6S60
c)	Nature of the transaction	Grant of New Options
d)	Price(s) and volume(s)	Price(s) Volume(s) 1. 440.0p 1. 120,000 New Options 2. 440.0p 2. 120,000 New Options 3. 440.0p 3. 60,000 New Options 4. 440.0p 4. 120,000 New Options 5. 440.0p 5. 70,000 New Options 6. 440.0p 6. 60,000 New Options 7. 440.0p 7. 40,000 New Options
d)	Aggregated information  - Aggregated volume - Price	2,285,000 New Options over ordinary shares 440.0p
e)	Date of the transaction	20 August 2018
f)	Place of the transaction	London Stock Exchange

 

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