REG - Altitude Group PLC - Grant of Options
RNS Number : 0302SAltitude Group PLC12 March 2021Altitude 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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