REG - Blackbird PLC - Issue of LTIP units

BlackbirdAnnouncement

14/04/2022 07:16

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RNS Number : 3364I  Blackbird PLC  14 April 2022

14 April 2022

 

Blackbird plc

(the "Company")

 

Issue of LTIP units

 

Blackbird plc (AIM: BIRD, OTCQX: BBRDF), the technology licensor, developer
and seller of market-leading cloud video platform, Blackbird, announces that
it has today issued units to Directors and senior management of the Company,
pursuant to the Company's Long Term Incentive Plan ("LTIP") which was approved
by shareholders at the 2019 Annual General Meeting when the closing share
price was 6.25 pence the previous day.

 

Details of the number of units being issued to each Director are set out
below.

 

 

 Name              Title                                  LTIP1 units being issued  LTIP2 units being issued  LTIP1 units held post issue  LTIP2 units
                   held post issue
 Ian McDonough     Chief Executive Officer                282.41                    -                         639.61                       191.90
 Stephen Streater  R&D Director                           188.28                    -                         237.58                       115.10
 Stephen White     Chief Operating and Financial Officer  94.14                     -                         143.44                       115.10

 

Under the LTIP, LTIP 1 and LTIP 2 units are designed to allow individuals to
share in improving shareholder value above a base share price (15p and 20p for
LTIP 1 and LTIP 2 respectively). The LTIP is designed to reward specific
individuals through cash payments for activities that drive value creation for
shareholders. Each of LTIP 1 and LTIP 2 consists of 5,000 LTIP units that
collectively form a pool and the value of each pool is calculated at 5% of the
increase in the Company's share price above the respective base share price
for each pool.

 

In total 941.38 LTIP1 units are today being issued to Directors and senior
management. This will be the final award for the first LTIP period which ran
from 1 January 2019 to 31 December 2021.  Including today's issue, the total
number of awards issued is 1,438.28 LTIP1 units and 518.10 LTIP2 units.
Details of the LTIP are set out in the investors section of the Company's
website.

 

Enquiries:

 

 Blackbird plc
 Ian McDonough, Chief Executive Officer
 Stephen White, Chief Operating and Financial Officer

 Tel: +44 (0)20 8879 7245

 Allenby Capital Limited (Nominated Adviser and Broker)

 Nick Naylor / Piers Shimwell (Corporate Finance)

 Amrit Nahal (Sales and Corporate Broking)

 Tel: +44 (0)20 3328 5656

 

About Blackbird plc

 

Blackbird plc operates in the fast-growing SaaS and cloud video market. It has
created Blackbird®, the world's most advanced suite of cloud-native computing
applications for video, all underpinned by its lightning-fast codec. Blackbird
plc's patented technology allows for frame accurate navigation, playback,
viewing and editing in the cloud. Blackbird® enables multiple applications,
which are used by rights holders, broadcasters, sports and news video
specialists, esports, live events and content owners, post-production houses,
other mass market digital video channels and corporations.

Since it is cloud-native, Blackbird® removes the need for costly, high end
workstations and can be used from almost anywhere on almost any device. It
also allows full visibility on multi-location digital content, improves time
to market for live content such as video clips and highlights for digital
distribution, and ultimately results in much more effective monetisation.

Blackbird plc is a licensor of its core video technology under its 'Powered by
Blackbird' licensing model. Enabling video companies to accelerate their path
to true cloud business models, licensees benefit from power and carbon
reductions, cost and time savings, less hardware and bandwidth requirements
and easy scalability.

www.blackbird.vide (http://www.blackbird.video/) o

www.linkedin.com/company/blackbird-cloud
(http://www.linkedin.com/company/blackbird-cloud)

www.twitter.com/blackbirdcloud (http://www.twitter.com/blackbirdcloud)

www.facebook.com/blackbirdplc (http://www.facebook.com/blackbirdplc)

www.youtube.com/c/Blackbirdcloud (https://www.youtube.com/c/Blackbirdcloud)

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