Grant of Share Options

RNS Number : 5994Q
LPA Group PLC
02 March 2021
 

LPA GROUP PLC

("LPA" or the "Group")

Grant of Share Options

LPA Group Plc, the high reliability LED lighting, electronic and electro-mechanical system designer and manufacturer, announces the award of share options (the "Share Options") under the LPA Group Plc Performance Share Plan 2018 ("PSP 2018") to the following directors and other employees of the Group (the "Award Holders"), as follows:

Director

Position

Number of Options

Exercise Price

Paul Curtis

CEO

30,000

83.50p

Chris Buckenham

CFO

20,000

83.50p

Subtotal


50,000

83.50p





Other employees


30,000

83.50p

Total Awards


80,000

83.50p

 

Under the terms of the Performance Share Plan, the Share Options may be exercised from 2 March 2024 until 1 March 2031.  The Share Options are also subject to clawback and malus provisions.

It is the expectation of the Company that the LPA Employee Benefit Trust (the "EBT") will satisfy the awards when exercised.  In the event that the EBT does not satisfy the awards when exercised, the Company will do so through an issue of new ordinary shares to the Award Holders.

As a result of the grant of the Share Options, the total number of options in place for directors and employees of LPA is as follows:

Number of Options

Exercise Price

540,000

36.00p

185,000

49.00p

150,000

104.83p

255,000

109.33p

120,000

63.17p

80,000

83.50p

1,330,000


 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquires:

www.lpa-group.com

 

Tel:

 

 

 

 

 

LPA Group Plc

 

 

 

Peter Pollock

Chairman

 

01799 512844

Paul Curtis

CEO

 

01799 512858

Chris Buckenham

CFO

 

01799 512859

 

 

 

 

Cairn Financial Advisers

(Nominated Adviser)

 

020 7213 0880

James Caithie / Liam Murray

Ludovico Lazzaretti

 

 

 



finnCap

(Broker)

 

020 7220 0500

Ed Frisby / Tim Harper (Corporate Finance)

Tim Redfern / Charlotte Sutcliffe (ECM)

 

 

 

 



 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

a)  Paul Curtis

b)  Chris Buckenham

2

Reason for the notification

a)

Position/status

a)  CEO

b)  CFO

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

LPA Group plc

b)

LEI


2138007S67YLDN6CEF21

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

Options over ordinary shares of 10p each

 

GB0007320806

b)

Nature of the transaction

Grant of share options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

a)  Exercise price: 83.50p

b)  Exercise price: 8 3.50 p

 

a)  30,000

b)  20,000

d)

Aggregated information

- Aggregated volume

- Price

 

 

50,000

83.50p

 

e)

Date of the transaction

2 March 2021

f)

Place of the transaction

London Stock Exchange (XLON)

g)

Additional Information

N/A

 

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LPA Group (LPA)
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