REG - Blackbird PLC - Pricing of LTIP units

BlackbirdAnnouncement

04/11/2022 07:00

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RNS Number : 2809F  Blackbird PLC  04 November 2022

4 November 2022

 

Blackbird plc

(the "Company")

 

Pricing of LTIP units

 

Blackbird plc (AIM: BIRD; OTCQX: BBRDF), the technology licensor, developer
and seller of market-leading cloud video platform Blackbird, announces the
pricing of the units to be issued under the Company's Long Term Incentive Plan
(the "LTIP") for the latest LTIP period.

 

Under the LTIP, which was extended following the approval of shareholders at
the 2021 Annual General Meeting, LTIP 1 and LTIP 2 units are designed to allow
members of the Company's management team to share in improving shareholder
value above a base share price. The LTIP is designed to reward specific
members of the management team through cash payments for actions 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 base
share price for each pool, respectively.

 

Full details of the LTIP scheme can be found on the Company's website under
the Investor's section (see https://www.blackbird.video/investor-relations/).

 

The Remuneration Committee has set the hurdle price of the LTIP 1 and LTIP 2
units for the current LTIP Period, of 1 January 2022 to 31 December 2024, at
28p and 33p respectively.

 

 

Contacts:

 Blackbird plc                                           Tel: +44 (0)20 8879 7245
 Ian McDonough, Chief Executive Officer
 Stephen White, Chief Operating and Financial Officer

 Allenby Capital Limited (Nominated Adviser and Broker)  Tel: +44 (0)20 3328 5656
 Nick Naylor / Piers Shimwell (Corporate Finance)
 Amrit Nahal (Equity Sales and Corporate Broking)

 

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

 

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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