REG - LPA Group PLC - Grant of Share Options

LPAAnnouncement

19/02/2020 13:00

RNS Number : 4977D
LPA Group PLC
19 February 2020
 


LPA GROUP PLC

Grant of Share Options
LPA Group PLC ("LPA" or the "Group"), the high reliability LED lighting and electro-mechanical system manufacturer, announces the award of share options (the "Share Options") to the following directors / PDMRs / related parties and other employees of the Group (the "Award Holders"), as follows:




Director/PDMR


Position


Number of Options


Exercise Price




Paul Curtis


COO


 50,000


109.33p




Chris Buckenham


CFO


 40,000


109.33p




John Hesketh


MD - LPA Lighting Systems


 25,000


109.33p




Mike Raynor


GM - LPA Channel Electric


 25,000


109.33p




Subtotal


 


140,000


 




 


 


 


 




Related Party


Position


Number of Options


Exercise Price




Gary Newman


FD - LPA Connection Systems


 10,000


109.33p




Nigel Orme


OD - LPA Lighting Systems


 10,000


109.33p




Other employees


 


 95,000


109.33p




Subtotal


 


115,000


 




Total Awards


 


255,000


109.33p




 
Under the terms of the Share Options, they may be exercised from 19 February 2023 until 18 February 2030.
It is the expectation of the Company that the LPA Employee Benefit Trust (the "EBT") will satisfy the awards when exercised.  In the event that the EBT does not satisfy the awards when exercised, the Company will do so through an issue of new ordinary shares to the Award Holders.
As a result of the grant of the Share Options, the total number of options in place for directors and employees of LPA is as follows:




Number of Options


Exercise Price




   540,000


  36.00p




   100,000


  32.00p




   185,000


  49.00p




   150,000


104.83p




   255,000


109.33p




1,230,000


 




 
The grants of the Share Options to the directors and related parties named above are deemed to be related party transactions for the purposes of Rule 13 of the AIM Rules (the "Transaction"). The directors independent of the Transaction, being Peter Pollock, Michael Rusch and Len Porter consider, having consulted with the Company's Nominated Adviser, that the terms of the Transaction are fair and reasonable insofar as its shareholders are concerned.
 
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.    
   




Enquires:


www.lpa-group.com


 


Tel:




LPA Group Plc


 


 


 




Peter Pollock


Chairman


 


01799 512844




Paul Curtis


COO


 


01799 512858




Chris Buckenham


CFO


 


01799 512859




 


 


 


 




Cairn Financial Advisers


(Nominated Adviser)


 


020 7213 0880




James Caithie / Tony Rawlinson / Ludovico Lazzaretti


 


 




 




finnCap


(Broker)


 


020 7220 0500




Ed Frisby / Teddy Whiley (Corporate Finance)
Tim Redfern / Tim Harper (ECM & Sales)


 


 


 




 




1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


Paul Curtis




2


Reason for the notification




a)


Position/status


COO




b)


Initial notification /Amendment


Initial Notification




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


LPA Group plc




b)


LEI






 


2138007S67YLDN6CEF21




 




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
Identification code


Options over ordinary shares of 10p each
 
GB0007320806




b)


Nature of the transaction


Grant of share options




c)


Price(s) and volume(s)


Price(s)


Volume(s)




Exercise price: 109.33p


50,000




d)


Aggregated information
- Aggregated volume
- Price


 
 
50,000
109.33p
 




e)


Date of the transaction


19 February 2020




f)


Place of the transaction


London Stock Exchange (XLON)




g)


Additional Information


N/A




 




1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


Chris Buckenham




2


Reason for the notification




a)


Position/status


CFO




b)


Initial notification /Amendment


Initial Notification




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


LPA Group plc




b)


LEI






 


2138007S67YLDN6CEF21




 




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
Identification code


Options over ordinary shares of 10p each
 
GB0007320806




b)


Nature of the transaction


Grant of share options
 




c)


Price(s) and volume(s)


Price(s)


Volume(s)




Exercise price: 109.33p


40,000




d)


Aggregated information
- Aggregated volume
- Price


 
 
40,000
109.33p
 




e)


Date of the transaction


19 February 2020




f)


Place of the transaction


London Stock Exchange (XLON)




g)


Additional Information


N/A




 




1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


John Hesketh




2


Reason for the notification




a)


Position/status


MD - Excil Electronics Ltd t/a LPA Lighting Systems




b)


Initial notification /Amendment


Initial Notification




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


LPA Group plc




b)


LEI






 


2138007S67YLDN6CEF21




 




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
Identification code


Options over ordinary shares of 10p each
 
GB0007320806




b)


Nature of the transaction


Grant of share options
 




c)


Price(s) and volume(s)


Price(s)


Volume(s)




Exercise price: 109.33p


25,000




d)


Aggregated information
- Aggregated volume
- Price


 
 
25,000
109.33p
 




e)


Date of the transaction


19 February 2020




f)


Place of the transaction


London Stock Exchange (XLON)




g)


Additional Information


N/A




 




1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


Mike Raynor




2


Reason for the notification




a)


Position/status


GM - Channel Electric Equipment Ltd t/a LPA Channel Electric




b)


Initial notification /Amendment


Initial Notification




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


LPA Group plc




b)


LEI






 


2138007S67YLDN6CEF21




 




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
Identification code


Options over ordinary shares of 10p each
 
GB0007320806




b)


Nature of the transaction


Grant of share options
 




c)


Price(s) and volume(s)


Price(s)


Volume(s)




Exercise price: 109.33p


25,000




d)


Aggregated information
- Aggregated volume
- Price


 
 
25,000
109.33p
 




e)


Date of the transaction


19 February 2020




f)


Place of the transaction


London Stock Exchange (XLON)




g)


Additional Information


N/A




 
 




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