REG - Altitude Group PLC - Grant of Options

AltitudeAnnouncement

12/03/2021 07:05

RNS Number : 0302S
  
Altitude Group PLC
  
12 March 2021
  
 

Altitude Group plc
("Altitude", the "Company" or the "Group")
Grant of Options
Altitude Group plc (AIM: ALT), the operator of a leading marketplace for the global promotional products industry, announces that on 11 March 2021 it granted 1,750,000 options in aggregate over ordinary shares of 0.4p each ("Ordinary Shares") to certain directors of the Group (the "Options").
Nichole Stella, Chief Executive Officer, has been issued nil cost options over 1,000,000 Ordinary Shares. Following the issue of Options, Nichole will be interested in options over 1,979,205 Ordinary Shares in total. 
Graeme Couturier, Chief Financial Officer, has been issued nil cost options over 500,000 Ordinary Shares. Following the issue of Options, Graeme will be interested in options over 1,097,448 Ordinary Shares in total.
Deborah Wilkinson, Chief Operating Officer, has been issued nil cost options over 250,000 Ordinary Shares. Following the issue of Options, Deborah will be interested in options over 810,000 Ordinary Shares in total.
The Options will vest subject to the following conditions and expire on the fifth anniversary of the date of grant:
·      25% of the Options for each individual will vest on the market price of the Ordinary Shares reaching 50p
·      The remaining 75% of the Options will vest on a linear basis for each 1p increase in the market price of the Ordinary Shares between 50p and 75p
·      No options will be exercisable prior to the third anniversary of the date of grant
 
In aggregate the Options, when added to other employee options already in existence, will result in employee options equivalent to 9.9 per cent. of the issued share capital of the Company being in existence, with target prices to enable the exercise of said options at prices of between 84p and 300p.
 
Non-Executive Chairman Keith Edelman commented:
"I am delighted that we have implemented this long-term incentive grant mechanism for Nikki, Deborah and Graeme who are integral members of our executive team and will be crucial to helping the Company achieve its ambitious growth targets. The option awards are an attractive incentive to deliver substantial gains to all shareholders."
 
Enquiries:




Altitude Group plc - via finnCap


020 7220 0500




Nichole Stella, Chief Executive Officer


 




Graeme Couturier, Chief Financial Officer


 




Keith Edelman, Non-Executive Chairman


 




 


 




finnCap Ltd


020 7220 0500




Jonny Franklin-Adams / Charlie Beeson (Corporate Finance)


 




Richard Chambers (ECM)


 




 
The notifications set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.
 




             


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Deborah Wilkinson




2.               


Reason for the Notification




a)


Position/status


Chief Operational Officer




b)


Initial notification/Amendment






Initial notification




 




3.    


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




a)


Name


Altitude Group plc




b)


LEI


213800VACSTYYSI39R89




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


 
Options over ordinary shares of 0.4p
 




Identification code


GB00B0LSFV82




b)


Nature of the transaction


Grant of Options over Ordinary Shares




c)


Price(s) and volume(s)






Exercise Price(s)


Volume(s)




nil


250,000




 




d)


Aggregated information:
·      Aggregated volume
·      Price


 
As above




e)


Date of the transaction


11 March 2021




f)


Place of the transaction


London Stock Exchange, AIM Market (XLON)




 




1.    


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Nichole Stella




2.               


Reason for the Notification




a)


Position/status


Chief Executive Officer




b)


Initial notification/Amendment






Initial notification




 




3.    


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




a)


Name


Altitude Group plc




b)


LEI


213800VACSTYYSI39R89




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


 
Options over ordinary shares of 0.4p
 




Identification code


GB00B0LSFV82




b)


Nature of the transaction


Grant of Options over Ordinary Shares




c)


Price(s) and volume(s)






Exercise Price(s)


Volume(s)




nil


1,000,000




 




d)


Aggregated information:
·      Aggregated volume
·      Price


 
As above




e)


Date of the transaction


11 March 2021




f)


Place of the transaction


London Stock Exchange, AIM Market (XLON)




 




1.    


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Graeme Couturier




2.               


Reason for the Notification




a)


Position/status


Chief Financial Officer




b)


Initial notification/Amendment






Initial notification




 




3.    


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




a)


Name


Altitude Group plc




b)


LEI


213800VACSTYYSI39R89




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


 
Options over ordinary shares of 0.4p
 




Identification code


GB00B0LSFV82




b)


Nature of the transaction


Grant of Options over Ordinary Shares




c)


Price(s) and volume(s)






Exercise Price(s)


Volume(s)




nil


500,000




 




d)


Aggregated information:
·      Aggregated volume
·      Price


 
As above




e)


Date of the transaction


11 March 2021




f)


Place of the transaction


London Stock Exchange, AIM Market (XLON)




 

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