REG - LPA Group PLC - Grant of Share Options

LPAAnnouncement

02/03/2021 07:00

RNS Number : 5994Q
  
LPA Group PLC
  
02 March 2021
  
 

LPA GROUP PLC
("LPA" or the "Group")
Grant of Share Options
LPA Group Plc, the high reliability LED lighting, electronic and electro-mechanical system designer and 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 and other employees of the Group (the "Award Holders"), as follows:



Director


Position


Number of Options


Exercise Price




Paul Curtis


CEO


30,000


83.50p




Chris Buckenham


CFO


20,000


83.50p




Subtotal






50,000


83.50p






















Other employees






30,000


83.50p




Total Awards






80,000


83.50p



 
Under the terms of the Performance Share Plan, the Share Options may be exercised from 2 March 2024 until 1 March 2031.  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




185,000


49.00p




150,000


104.83p




255,000


109.33p




120,000


63.17p




80,000


83.50p




1,330,000







 
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


CEO


 


01799 512858




Chris Buckenham


CFO


 


01799 512859




 


 


 


 




Cairn Financial Advisers


(Nominated Adviser)


 


020 7213 0880




James Caithie / Liam Murray
Ludovico Lazzaretti
 


 


 










finnCap


(Broker)


 


020 7220 0500




Ed Frisby / Tim Harper (Corporate Finance)
Tim Redfern / Charlotte Sutcliffe (ECM)


 


 


 



 




 



1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


a)     Paul Curtis
b)    Chris Buckenham




2


Reason for the notification




a)


Position/status


a)     CEO
b)    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)




a)     Exercise price: 83.50p
b)    Exercise price: 83.50p
 


a)     30,000
b)    20,000




d)


Aggregated information
- Aggregated volume
- Price


 
 
50,000
83.50p
 




e)


Date of the transaction


2 March 2021




f)


Place of the transaction


London Stock Exchange (XLON)




g)


Additional Information


N/A



 

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