REG - Aferian PLC - Share Options

AferianAnnouncement

11/01/2024 07:00

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RNS Number : 3209Z  Aferian PLC  11 January 2024

11 January 2024

 

AFERIAN PLC

 

("Aferian", the "Company" or the "Group")

 

Share Options

 

 

Aferian plc (LSE AIM: AFRN), the B2B video streaming solutions company,
announces that the Company's Remuneration Committee have approved the
conversion of 535,000 shares awarded under the Aferian Long Term Incentive
Plan 2019 (the "Awards") to nil-cost share options over ordinary shares of 1
pence each in the capital of the Company ("Options") to the following
directors:

 

 Director        Title          Options
 Donald McGarva  CEO            310,000
 Mark Carlisle   CFO & COO      225,000

 

The Awards were originally granted on 15 July 2019 with a three year
performance period which was assessed by the Remuneration Committee and found
that they had been met in full. However, vesting of the Awards could not occur
in 2022 because of a close period, which did not end until 24 October 2022.

 

As disclosed in the Remuneration Committee's report within the Aferian Plc
Annual Report 2022, given the significant change in trading circumstances as
outlined in the trading update of 24 October 2022, the Remuneration Committee
again considered these Awards on 17 November 2022 and agreed that vesting
after the trading update would not be in the interest of shareholders.
Consequently, the Remuneration Committee reached agreement with the two Award
holders to defer vesting. This deferral was without conditions save only for
the individuals' continued employment in the Company.

 

The Remuneration Committee also considered the effect of this vesting on the
maintenance of orderly trading in the Company's shares, given the vesting of
the Awards would trigger a significant director share trade due to
crystalisation of personal tax liabilities. Consequently, the Remuneration
Committee has agreed that the Awards be converted to nil-cost share options,
valid for ten years from date of original grant, subject only to continued
employment of the recipient or for a period of six months following cessation
of that employment.

 

 

-ENDS-

 

 

 

 

For further information please contact:

 

 Aferian plc                                                         +44 (0)1954 234100
 Mark Wells, Chairman

 Donald McGarva, Chief Executive Officer

 Mark Carlisle, Chief Financial Officer

 Investec bank plc                                                   +44 (0)20 7597 5970
 David Anderson / Patrick Robb / Nick Prowting / Cameron MacRitchie

 

About Aferian plc

 

Aferian plc (AIM: AFRN) is a B2B video streaming solutions company. Our
end-to-end solutions bring live and on-demand video to every kind of screen.
We create the forward-thinking solutions that our customers need to drive
subscriber engagement, audience satisfaction, and revenue growth.

 

It is our belief that successful media companies and services will be those
that are most consumer-centric, data driven and flexible to change. We focus
on innovating technologies that enable our customers stay ahead of evolving
viewer demand by providing smarter, more cost-effective ways of delivering
end-to-end modern TV and video experiences to consumers. By anticipating
technological and behavioural audience trends, our software solutions empower
our customers to heighten viewer enjoyment, drive growth in audience share and
ultimately their profitability.

 

Aferian plc has two operating companies: 24i, which focusses on streaming
video experiences, and Amino, which connects Pay TV to streaming services. Our
two complementary companies combine their products and services to create
solutions which ensure that people can consume TV and video how and when they
want it. Our solutions deliver modern TV and video experiences every day to
millions of viewers globally, via our growing global customer base of over 500
service providers.

 

Aferian plc is traded on the London Stock Exchange's AIM stock market (AIM:
symbol AFRN). Headquartered in Cambridge, UK, the Company has over 300 staff
located in 11 offices, including major European cities as Amsterdam, Helsinki,
Copenhagen and Brno, as well as in San Francisco and Hong Kong.  For more
information, please visit www.aferian.com (http://www.aferian.com/) .

 

 

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