REG - DG Innovate PLC - Grant of options & LTIP update

DG InnovateAnnouncement

13/10/2022 07:00

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RNS Number : 7176C  DG Innovate PLC  13 October 2022

13 October 2022

DG Innovate plc

 

("DG Innovate" or the "Company")

 

Grant of options, LTIP update and Director/ PDMR Shareholding

 

 

DG Innovate (LSE: DGI), the advanced research and development company
pioneering sustainable and environmentally considerate improvements to
electric mobility and energy storage, announces that, in accordance with its
remuneration policy, on 12 October 2022 the Company approved the adoption of
an executive share option scheme (the "Scheme") and granted under the terms of
the Scheme 690,790,814 options with an exercise price of 0.1p per share over
ordinary shares of £0.001 each in the capital of the Company to its CEO,
Peter Tierney (the "Options").

 

The vesting of the Options will occur on either (i) the occurrence of a change
in control of the Company or (ii) Peter Tierney remaining as an employee of
any DG group company until 12 October 2025.

The Company has an existing long term incentive plan ("LTIP") which was
adopted on 9 April 2022 as a discretionary executive share plan. Under the
LTIP, the board may, within certain limits and subject to any applicable
performance conditions, grant to eligible employees options to acquire nominal
cost options over shares ("LTIP Options"). The Company confirms the lapse of
72,048,463 LTIP Options at an exercise price of 0.1p per share granted to
Christopher Theis, following his resignation as CEO from the Company,
effective on 1 July 2022. On 12 October 2022, the board also approved an
amendment to the LTIP, increasing the total number of options over shares that
may be granted to employees, from 10% to 15% of the issued share capital.

The Options granted to Peter Tierney on 12 October 2022 represent
approximately 7.81% of the Company's issued share capital. In total
2,505,041,874 options are now outstanding, representing approximately 28.3% of
the Company's issued share capital. Of this total, 1,182,544,374 are LTIP
Options or options granted pursuant to the Scheme, which represent
approximately 13.4% of the Company's issued share capital.

The information set out below is provided in accordance with the requirements
of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014:

 

 1    Details of the person discharging managerial responsibilities/person closely
      associated
 (a)  Name                                                         Peter Tierney

 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                                                         DG Innovate Plc
 (b)  LEI                                                          21380058VQBP76M7TN11
 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  Ordinary shares of 0.1 pence each

      Identification code                                          ISIN GB00BYQD5059

                                                                   DGI

 (b)  Nature of the transaction                                    Award of £0.001 options under the Executive Share Option Scheme
 (c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                    £0.001    690,790,814
 (d)  Aggregated information                                       N/A

      -  Aggregated volume

      -  Price
 (e)  Date of the transaction                                      12 October 2022
 (f)  Place of the transaction                                     Outside a trading venue

(d)

Aggregated information

-  Aggregated volume

-  Price

N/A

(e)

Date of the transaction

12 October 2022

(f)

Place of the transaction

Outside a trading venue

 

For further information please contact:

 DG Innovate plc                            C/O IFC
 Peter Tierney, CEO

 Jack Allardyce, CFO

 IFC Advisory (Financial PR & IR)           020 3934 6630
 Tim Metcalfe

 Zach Cohen

 Grant Thornton UK LLP (Financial Adviser)  020 7383 5100

 Samantha Harrison

 Jamie Barklem

 Daphne Zhang

 Ciara Donnelly

 OvalX (Joint Broker)                       020 7392 1400
 Tom Curran

 Thomas Smith

 WH Ireland (Joint Broker)                  020 7220 1666
 Chris Hardie
 Megan Liddell

 

 

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