Information  X 
Enter a valid email address

System1 Group PLC (SYS1)

  Print   

Thursday 18 April, 2019

System1 Group PLC

Grant of Options

RNS Number : 5556W
System1 Group PLC
18 April 2019
 

 

 

Press Release

18 April 2019

 

System1 Group PLC (AIM: SYS1)

("System1", or "the Company")

 

Grant of Options

 

Following consultation with its major shareholders, the Company announces that it has granted awards under an equity incentive plan to Stefan Barden, an advisor to the Board and PDMR, subject to approval by shareholders at the Company's next Annual General Meeting.  In the event the approval is not obtained, the awards will lapse.

 

The awards comprise zero priced options over 300,000 shares (approximately 2.4% of the Company's voting share capital), and are split into three equal tranches. They are designed to vest only if a significant step-change in gross profit is achieved; being growth rates of approximately 100%, 200% and 300% for each of the three tranches respectively.  

 

Performance Conditions

100,000 zero-priced stock options ("Tranche One Options")

·    Vest: when the Company's audited Gross Profit in any financial year exceeds £45m, subject to the Company's share price exceeding £5.00 per share for a 30 day consecutive period prior to the lapse date;

·    Lapse date: 30 July 2024;

100,000 zero-priced stock options ("Tranche Two Options")

·    Vest: when the Company's audited Gross Profit in any financial year exceeds £68m, subject to the Company's share price exceeding £7.50 per share for a 30 day consecutive period prior to the lapse date;

·    Lapse date: 30 July 2029;

100,000 zero-priced stock options ("Tranche Three Options")

·    Vest: when the Company's audited Gross Profit in any financial year exceeds £90m, subject to the Company's share price exceeding £10.00 per share over a 30 day consecutive period prior to the lapse date;

·    Lapse date: 30 July 2032.

 

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 ("PCA")

a)

Name

Stefan Barden

2.

Reason for the notification

a)

Position / status

PDMR 

b)

Initial notification / amendment

Initial notification

3.

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

a)

Name

System1 Group PLC

b)

Legal Entity Identifier

213800TDLR42C3Q9ZB74

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

Options over ordinary shares

b)

Nature of the transaction

Granting of LTIP Awards

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Zero cost

300,000 Options

d)

Aggregated information

-     Aggregated volume

-     Aggregated price

-     Aggregated total

 

N/A

e)

Date of the transaction

17 April 2019 (UK)

f)

Place of the transaction

Outside a trading venue

 

 

The Company can be found at www.system1group.com.

 

For further information, please contact:

System1 Group PLC

Tel: +44 (0)20 7043 1000

 

John Kearon, Chief Executive Officer


 

James Geddes, Chief Financial Officer


 

Canaccord Genuity Limited

Tel: +44 (0)20 7523 8000

Simon Bridges / Emma Gabriel


 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
DSHLLFEDSLIDLIA

a d v e r t i s e m e n t