TIDMLOOP
RNS Number : 2480H
LoopUp Group PLC
22 November 2022
22 November 2022
LOOPUP GROUP PLC
("LoopUp Group" or the "Group")
Option Grant and Block Listing Application
LoopUp Group plc (AIM: LOOP), the cloud platform for premium
hybrid communications, announces that the Group's Remuneration
Committee and Board have approved: (i) an issue of new options to
current employees, including PDMRs of the Group ("New Options");
and (ii) an offer concerning certain options granted prior to 2021
to be made to current employees, including to PDMRs of the
Group.
Grant of New Options to PDMRs
As part of a broader grant of options to employees, the Group's
Remuneration Committee and Board have approved the grant of a total
of up to 12,500,000 share options to employees, including the
following PDMRs of the Group at a strike price of GBP0.0525 (equal
to the market closing price on 18 November 2022) and with a
four-year vesting schedule with one quarter vesting one year after
the grant and the remaining three quarters vesting monthly over the
subsequent 36-month period subject to continuing employment:
New Options granted
-------------------------- ----------------- --------------------
Michael Hughes co-CEO 1,500,000
-------------------------- ----------------- --------------------
Steve Flavell co-CEO 1,500,000
-------------------------- ----------------- --------------------
Marcus Greensit COO 1,000,000
-------------------------- ----------------- --------------------
Simon Sacerdoti CFO 600,000
-------------------------- ----------------- --------------------
Víctor Sánchez CTO 600,000
-------------------------- ----------------- --------------------
Edward Cooper General Counsel 800,000
Cancellation of Existing Options and Regrant of Options
The Group has previously granted options to employees which
include: (i) in 2020 options at a strike price of GBP1.10 ("2020
Options"); (ii) in 2019 options at a strike price of GBP0.75 ("2019
Options"); and (iii) between 2012 and 2016 options at a strike
price of GBP0.75 ("Older Options"). In each case these grants
included Executive Directors and PDMRs, and were made pursuant to
the Group's existing share option schemes (collectively the
"Existing Options").
The Group's Remuneration Committee considers that these grants
have become ineffective in their primary purpose of retaining
business-critical staff, and therefore believes that the following
measures are aligned with such retention and driving future value
for shareholders:
-- All current employees not under notice who were granted Existing Options will be given the
choice whether to keep those grant contracts as is, or whether to cancel those grant contracts
and enter simultaneously into new contracts with different terms as follows:
o for regrants relating to the 2020 Options, a 50% reduction in the number of options regranted
and vesting over a fresh four-year period;
o for regrants relating to the 2019 Options, a 40% reduction in the number of options regranted
and vesting over a fresh four-year period; and
o for regrant relating to the Older Options, a 30% reduction in the number of options regranted
and vesting over a fresh four-year period.
-- For the fresh four-year vesting period, one quarter of regranted options shall vest one year
after the regrant, with the remaining three quarters vesting monthly over the subsequent 36-month
period subject to continuing employment.
-- An exercise price of the closing middle market price on 18 November 2022 of GBP0.0525
This process may result in up to 4,566,064 Existing Options
being cancelled and replaced by up to 2,834,704 new options with an
exercise price of GBP0.0525 ("Regrant Options"). The following
PDMRs of the Group have been offered, and have accepted, the
following cancellation of the Existing Options and the grant of the
Regrant Options as set out below (subject to the aforementioned
mechanism):
Existing Regrant Options Total number
Options to of options
be cancelled held following
the cancellation
and regrant
and grant of
New Options
----------------- ----------------- -------------- ---------------- ------------------
Michael Hughes co-CEO 1,079,000 715,500 2,215,500
----------------- ----------------- -------------- ---------------- ------------------
Steve Flavell co-CEO 199,000 99,500 2,174,500
----------------- ----------------- -------------- ---------------- ------------------
Marcus Greensit COO 499,000 325,100 1,587,100
----------------- ----------------- -------------- ---------------- ------------------
Edward Cooper General Counsel 73,000 41,700 1,107,700
Block Listing Application
Employees who elect to participate in the Group's Employee Stock
Purchase Plan ("ESPP") sacrifice a portion of their salary in
return for the allotment of shares. The Board considers the ESPP to
be an effective means to motivate employees by aligning their
reward with the success of the company.
Application has been made to the London Stock Exchange for a
block listing of 10,000,000 ordinary shares of 0.5 pence each (the
"New Ordinary Shares") which may be issued under the ESPP. Shares
so issued will rank pari passu in all respects with the then
existing issued ordinary shares of the Group. Admission is expected
to become effective on 28 November 2022.
The FCA notification, made in accordance with the UK version of
the requirements of the EU Market Abuse Regulation (as part of UK
law by virtue of the European Union (Withdrawal) Act 2018) is
appended below.
For further information, please contact:
LoopUp Group plc via FTI
Steve Flavell, co-CEO
+44 (0) 20 7886
Panmure Gordon (UK) Limited 2500
Dominic Morley / Alina Vaskina (Corporate
Finance)
Erik Anderson (Corporate Broking)
+44 (0) 20 7397
Cenkos Securities Limited 8900
Giles Balleny / Dan Hodkinson (Corporate Finance)
Alex Pollen (Sales)
+44 (0) 20 3727
FTI Consulting, LLP 1000
Matt Dixon / Jamille Smith / Tom Blundell
About LoopUp Group plc
LoopUp (LSE AIM: LOOP) is a cloud platform for premium hybrid
communications. The Group's flagship Cloud Telephony solution for
Microsoft Teams enables multinational enterprises to consolidate
their global telecommunications into a single, consistently managed
cloud implementation rather than disparate implementations from
multiple carriers. The Group's hybrid auditorium and events
solution, Hybridium (www.hybridium.com), brings unrivaled
engagement and analytics to larger scale hybrid education, training
and events such as management onsites, departmental kick-offs,
capital markets days and thought leadership seminars.
The Group is listed on the AIM market of the London Stock
Exchange (LOOP) and is headquartered in London, with offices in the
US, Spain, Germany, Hong Kong, Barbados and Australia.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Names 1. Michael Hughes
2. Steve Flavell
3. Marcus Greensit
4. Simon Sacerdoti
5. Víctor Sánchez
6. Edward Cooper
-------------------------- ----------------------------------------------------------------
Reason for the notification
2
--------------------------------------------------------------------------------------------
a) Position/status Classified as PDMRs of the Company
-------------------------- ----------------------------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ----------------------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------------
a) Name LoopUp Group plc
-------------------------- ----------------------------------------------------------------
b) LEI 21380063DQ4WXDQLYB80
-------------------------- ----------------------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary shares of 0.5p
financial instrument,
type of instrument
-------------------------- ----------------------------------------------------------------
b) Identification code GB00BYQP6S60
-------------------------- ----------------------------------------------------------------
c) Nature of the transaction Allotment and part sale pursuant to a
group Share Option Scheme and Employee
Share Purchase Plan
-------------------------- ----------------------------------------------------------------
d) Price(s) and volume(s) Price(s) Strike Volume(s) Volume(s) Volume(s)
Price of New of Existing of Regrant
Options Options Options
granted cancelled granted
1. GBP0.0525 1,500,000 1,079,000 715,500
---------- ---------- ------------- ------------
2. GBP0.0525 1,500,000 199,000 99,500
---------- ---------- ------------- ------------
3. GBP0.0525 1,000,000 499,000 210,000
---------- ---------- ------------- ------------
4. GBP0.0525 600,000 0 0
---------- ---------- ------------- ------------
5. GBP0.0525 600,000 0 0
---------- ---------- ------------- ------------
6. GBP0.0525 800,000 73,000 41,700
---------- ---------- ------------- ------------
-------------------------- ----------------------------------------------------------------
d) Aggregated information 6,000,000 New Options with a strike price
- Aggregated volume of GBP0.0525.
- Price 1,850,000 Existing Options cancelled
and 1,066,700 Regrant Options granted
with a strike price of GBP0.0525
-------------------------- ----------------------------------------------------------------
e) Date of the transaction 21 November 2022
-------------------------- ----------------------------------------------------------------
f) Place of the transaction London Stock Exchange
-------------------------- ----------------------------------------------------------------
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 rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHPPGWUGUPPGWP
(END) Dow Jones Newswires
November 22, 2022 08:04 ET (13:04 GMT)
Loopup (LSE:LOOP)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Loopup (LSE:LOOP)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024
