REG - LPA Group PLC - Grant of Share Options

LPAAnnouncement

23/07/2020 16:35

RNS Number : 9348T
  
LPA Group PLC
  
23 July 2020
  
 

LPA GROUP PLC
("LPA" or the "Group")
Grant of Share Options
LPA Group Plc, the high reliability LED lighting and electro-mechanical system manufacturer, announces the award of share options (the "Share Options") under the LPA Group plc Performance Share Plan 2018 ("PSP 2018") to the following directors / PDMRs and other employees of the Group (the "Award Holders"), as follows:



Director/PDMR


Position


Number of Options


Exercise Price




Paul Curtis


CEO


30,000


63.17p




Chris Buckenham


CFO


25,000


63.17p




John Hesketh


MD - LPA Lighting Systems


15,000


63.17p




Jonathan Rowe


MD - LPA Connection Systems


15,000


63.17p




Subtotal






85,000


63.17p






















Other employees






35,000


63.17p




Total Awards






120,000


63.17p



 
Under the terms of the PSP, the Share Options may be exercised from 23 July 2023 until 22 July 2030.  The Share Options are also subject to clawback and malus provisions.
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




   120,000


  63.17p




1,350,000







 
 
The grants of the Share Options to the directors and PDMRs 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 Len Porter, Gordon Wakefield and Peter Pollock 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


 


07881 626123




Paul Curtis


CEO


 


01799 512858




Chris Buckenham


CFO


 


01799 512859




 


 


 


 




Cairn Financial Advisers


(Nominated Adviser)


 


020 7213 0880




James Caithie / Tony Rawlinson


 


 










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


a)     Paul Curtis
b)    Chris Buckenham
c)     John Hesketh
d)    Jonathan Rowe




2


Reason for the notification




a)


Position/status


a)     CEO
b)    CFO
c)     MD - LPA Lighting Systems
d)    MD - LPA Connection 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)




a)     Exercise price: 63.17p
b)    Exercise price: 63.17p
c)     Exercise price: 63.17p
d)    Exercise price: 63.17p


a)     30,000
b)    25,000
c)     15,000
d)    15,000




d)


Aggregated information
- Aggregated volume
- Price


 
 
85,000
63.17p
 




e)


Date of the transaction


23 July 2020




f)


Place of the transaction


London Stock Exchange (XLON)




g)


Additional Information


N/A



 


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