Director/PDMR Disclosures

RNS Number : 6268X

Mode Global Holdings PLC

30 August 2022

 

Mode Global Holdings PLC

Repricing of Existing Share Options

Grant of New Share Options

PDMR Disclosures

Mode Global Holdings PLC (LSE: MODE) ("Mode"), the LSE-listed fintech group, announces today that it has repriced share options to certain Directors and employees.

Repricing of Share Options

A key goal of Mode is to ensure it has long term incentivisation in place to meaningfully retain staff.  Mode's previous pricing did not meet the criteria and therefore Mode has repriced existing options to a more achievable level bringing a direct line of sight to long-term incentivisation. The price is set at a level which the Board believes is both achievable, but which still motivates the Directors and employees to drive value into the business and hence increase the share value. 

Existing Options held by certain of the Directors have been repriced as follows:

Director	Number of Existing Options Held	Current Exercise Price	New Exercise Price	Expiry Date
Jonathan Rowland (Chairman)	805,370	50 pence	7.5 pence	27 October 2030
Rita (Yu) Liu (CEO)	2,013,425	50 pence	7.5 pence	4 November 2030
Richard Morecroft (Director)	2,416,110	50 pence	7.5 pence	27 October 2030
David Anderson (Non-Executive Director)	161,074	50 pence	7.5 pence	5 April 2031

The Company is also pleased to announce that it has granted new share options ("New Options") to certain Directors as follows:

Director	New Options Granted:	Exercise Price
Jonathan Rowland (Chairman)	1,000,000	7.5 pence
Rita (Yu) Liu (CEO)	800,000	7.5 pence
David Shrier (Non- Executive Director)	1,000,000	7.5 pence
Mike Robertson (Non-Executive Director)	200,000	7.5 pence

The New Options issued to Rita (Yu) Liu and Jonathan Rowland will vest on the following schedule: (i) 20% vesting a year after the date of issue; and (ii) 5% vesting every quarter thereafter. The New Options issued to David Shrier and Mike Robertson will vest on the following schedule: (i) 20% vesting immediately; and (ii) 10% vesting every quarter thereafter. The New Options shall each expire ten years from the date of issue.

The New Options are not subject to any performance or exercise conditions.

The FCA notifications, made in accordance with the requirements of the UK Market Abuse Regulation are appended further below.

-ENDS-

Press contacts:

Fiona McAra, MRM

[phone]

[e-mail] 

Julie Sand, Mode Global Holdings PLC

[phone]

[e-mail]

Notes to Editors

About Mode :

Mode is an LSE-listed fintech company on a mission to build the world's most disruptive ecosystem where exchanging value and growing wealth is seamless for all. Mode is leveraging the power of Bitcoin and Open Banking to deliver on this mission and offer customers in the UK a one-stop app to shop, earn and grow their Bitcoin, all in one place. For businesses, Mode provides a cheaper, safer and smarter alternative to card payments that rewards shoppers with Bitcoin Cashback.

To learn more, visit our customer/business site at www.modeapp.com or our investor site at www.modeplc.com.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1.	Details of PDMR / person closely associated with them
a)	Name	Jonathan Rowland
b)	Position / status	Chairman
c)	Initial notification / amendment	Initial notification
2.	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	Ordinary shares of Mode Global Holdings plc
b)	Nature of the transaction	(i) Change of exercise price of existing options (ii) Awards of additional options to subscribe for ordinary shares
c)	Price(s) and volume(s)	Price Volume 7.5 pence 805,370 7.5 pence 1,000,000
d)	Aggregated information Aggregated volume Price	Volume: 1,805,370  Price: 7.5 pence
e)	Date of the transaction	30 August 2022
f)	Place of the transaction	Outside a trading venue

1	Details of PDMR / person closely associated with them
a)	Name	Rita (Yu) Liu
b)	Position / status	CEO
c)	Initial notification / amendment	Initial notification
2.	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	Ordinary shares of Mode Global Holdings plc
b)	Nature of the transaction	(i) Change of exercise price of existing options (ii) Awards of additional options to subscribe for ordinary shares
c)	Price(s) and volume(s)	Price Volume 7.5 pence 2,013,425 7.5 pence 800,000
d)	Aggregated information Aggregated volume Price	Volume: 2,813,425 Price: 7.5 pence
e)	Date of the transaction	30 August 2022
f)	Place of the transaction	Outside a trading venue

1	Details of PDMR / person closely associated with them
a)	Name	Richard Morecroft
b)	Position / status	COO
c)	Initial notification / amendment	Initial notification
2.	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	Ordinary shares of Mode Global Holdings plc
b)	Nature of the transaction	Change of exercise price of existing options
c)	Price(s) and volume(s)	Price Volume 7.5 pence 2,416,110
d)	Aggregated information Aggregated volume Price	Volume: 2,416,110 Price: 7.5 pence
e)	Date of the transaction	30 August 2022
f)	Place of the transaction	Outside a trading venue

1	Details of PDMR / person closely associated with them
a)	Name	David Anderson
b)	Position / status	Non-Executive Director
c)	Initial notification / amendment	Initial notification
2.	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	Ordinary shares of Mode Global Holdings plc
b)	Nature of the transaction	Change of exercise price of existing options
c)	Price(s) and volume(s)	Price Volume 7.5 pence 161,074
d)	Aggregated information Aggregated volume Price	Volume: 161,074 Price: 7.5 pence
e)	Date of the transaction	30 August 2022
f)	Place of the transaction	Outside a trading venue

1	Details of PDMR / person closely associated with them
a)	Name	David Shrier
b)	Position / status	Non-Executive Director
c)	Initial notification / amendment	Initial notification
2.	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	Ordinary shares of Mode Global Holdings plc
b)	Nature of the transaction	Award of options to subscribe for ordinary shares
c)	Price(s) and volume(s)	Price Volume 7.5 pence 1,000,000
d)	Aggregated information Aggregated volume Price	Volume: 1,000,000 Price: 7.5 pence
e)	Date of the transaction	30 August 2022
f)	Place of the transaction	Outside a trading venue

1	Details of PDMR / person closely associated with them
a)	Name	Mike Robertson
b)	Position / status	Non-Executive Director
c)	Initial notification / amendment	Initial notification
2.	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	Ordinary shares of Mode Global Holdings plc
b)	Nature of the transaction	Awards of options to subscribe for ordinary shares
c)	Price(s) and volume(s)	Price Volume 7.5 pence 200,000
d)	Aggregated information Aggregated volume Price	Volume: 200,000 Price: 7.5 pence
e)	Date of the transaction	30 August 2022
f)	Place of the transaction	Outside a trading venue

 

END

 

 

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