REG - Blackbird PLC - Pricing of LTIP units

BlackbirdAnnouncement

31/12/2024 07:00

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RNS Number : 6111R  Blackbird PLC  31 December 2024

31 December 2024

 

Blackbird plc

(the "Company")

 

Pricing of LTIP units

 

Blackbird plc (AIM: BIRD), the technology licensor, developer and seller of
market-leading cloud native video editing platform, Blackbird, and developer
of the online collaborative video editing and content creation platform,
elevate.io, 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 2024 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/
(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 2025 to 31 December 2027, at
15p and 20p 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 / Guy McDougall (Equity Sales and Corporate Broking)

 

About Blackbird plc

 

Blackbird plc operates in the fast-growing SaaS, Media and Entertainment and
content creation markets.  Blackbird plc's patented technology allows for
frame accurate navigation, playback, viewing and editing in the cloud and it
has two products.

 

Blackbird(Ⓡ) a market leading suite of cloud-native computing applications,
is used by rights holders, broadcasters, sports and news video specialists,
live events and content owners, post production houses, other mass market
digital video channels and corporations.

 

elevate.io is the company's new online collaborative content creation platform
currently in general release. elevate.io (http://elevate.io/) is built using
Blackbird's core technology and is aimed at professional teams and the fast
growing Creator Economy.

 

Blackbird plc also licences its core video technology, under its 'Powered by
Blackbird' licensing model, enabling video companies to accelerate their path
to true cloud business models.

 

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 (http://www.youtube.com/c/blackbirdcloud)

www.elevate.io

 

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