REG - Mode Global Holdings - Director/PDMR Disclosures
30/08/2022 14:15
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RNS Number : 6268X Mode Global Holdings PLC 30 August 2022
Mode Global Holdings PLC
Repricing of Existing Share Options
Grant of New Share Options
PDMR Disclosures
Mode Global Holdings PLC (LSE: MODE) ("Mode"), the LSE-listed fintech group,
announces today that it has repriced share options to certain Directors and
employees.
Repricing of Share Options
A key goal of Mode is to ensure it has long term incentivisation in place to
meaningfully retain staff. Mode's previous pricing did not meet the criteria
and therefore Mode has repriced existing options to a more achievable level
bringing a direct line of sight to long-term incentivisation. The price is set
at a level which the Board believes is both achievable, but which still
motivates the Directors and employees to drive value into the business and
hence increase the share value.
Existing Options held by certain of the Directors have been repriced as
follows:
Director Number of Existing Options Held Current Exercise Price New Exercise Price Expiry Date
Jonathan Rowland (Chairman) 805,370 50 pence 7.5 pence 27 October 2030
Rita (Yu) Liu (CEO) 2,013,425 50 pence 7.5 pence 4 November 2030
Richard Morecroft (Director) 2,416,110 50 pence 7.5 pence 27 October 2030
David Anderson (Non-Executive Director) 161,074 50 pence 7.5 pence 5 April 2031
The Company is also pleased to announce that it has granted new share options
("New Options") to certain Directors as follows:
Director New Options Granted: Exercise Price
Jonathan Rowland (Chairman) 1,000,000 7.5 pence
Rita (Yu) Liu (CEO) 800,000 7.5 pence
David Shrier (Non- Executive Director) 1,000,000 7.5 pence
Mike Robertson (Non-Executive Director) 200,000 7.5 pence
The New Options issued to Rita (Yu) Liu and Jonathan Rowland will vest on the
following schedule: (i) 20% vesting a year after the date of issue; and (ii)
5% vesting every quarter thereafter. The New Options issued to David Shrier
and Mike Robertson will vest on the following schedule: (i) 20% vesting
immediately; and (ii) 10% vesting every quarter thereafter. The New Options
shall each expire ten years from the date of issue.
The New Options are not subject to any performance or exercise conditions.
The FCA notifications, made in accordance with the requirements of the UK
Market Abuse Regulation are appended further below.
-ENDS-
Press contacts:
Fiona McAra, MRM
+44 (0)7471 350286
mode@mrm-london.com
Julie Sand, Mode Global Holdings PLC
+44 (20) 3773 0588
julie.sand@modeapp.com
Notes to Editors
About Mode:
Mode is an LSE-listed fintech company on a mission to build the world's most
disruptive ecosystem where exchanging value and growing wealth is seamless for
all. Mode is leveraging the power of Bitcoin and Open Banking to deliver on
this mission and offer customers in the UK a one-stop app to shop, earn and
grow their Bitcoin, all in one place. For businesses, Mode provides a cheaper,
safer and smarter alternative to card payments that rewards shoppers with
Bitcoin Cashback.
To learn more, visit our customer/business site at www.modeapp.com or our
investor site at www.modeplc.com (http://www.modeplc.com) .
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1. Details of PDMR / person closely associated with them
a) Name Jonathan Rowland
b) Position / status Chairman
c) Initial notification / Initial notification
amendment
2. 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 Ordinary shares of Mode Global Holdings plc
b) Nature of the transaction (i) Change of exercise price of existing options
(ii) Awards of additional options to subscribe for ordinary shares
c) Price(s) and volume(s)
Price Volume
7.5 pence 805,370
7.5 pence 1,000,000
d) Aggregated information Volume: 1,805,370
Aggregated volume Price: 7.5 pence
Price
e) Date of the transaction 30 August 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume
Price
Volume: 1,805,370
Price: 7.5 pence
e)
Date of the transaction
30 August 2022
f)
Place of the transaction
Outside a trading venue
1 Details of PDMR / person closely associated with them
a) Name Rita (Yu) Liu
b) Position / status CEO
c) Initial notification / Initial notification
amendment
2. 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 Ordinary shares of Mode Global Holdings plc
b) Nature of the transaction (i) Change of exercise price of existing options
(ii) Awards of additional options to subscribe for ordinary shares
c) Price(s) and volume(s)
Price Volume
7.5 pence 2,013,425
7.5 pence 800,000
d) Aggregated information
Aggregated volume Volume: 2,813,425
Price
Price: 7.5 pence
e) Date of the transaction 30 August 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume
Price
Volume: 2,813,425
Price: 7.5 pence
e)
Date of the transaction
30 August 2022
f)
Place of the transaction
Outside a trading venue
1 Details of PDMR / person closely associated with them
a) Name Richard Morecroft
b) Position / status COO
c) Initial notification / Initial notification
amendment
2. 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 Ordinary shares of Mode Global Holdings plc
b) Nature of the transaction Change of exercise price of existing options
c) Price(s) and volume(s)
Price Volume
7.5 pence 2,416,110
d) Aggregated information
Aggregated volume Volume: 2,416,110
Price
Price: 7.5 pence
e) Date of the transaction 30 August 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume
Price
Volume: 2,416,110
Price: 7.5 pence
e)
Date of the transaction
30 August 2022
f)
Place of the transaction
Outside a trading venue
1 Details of PDMR / person closely associated with them
a) Name David Anderson
b) Position / status Non-Executive Director
c) Initial notification / Initial notification
amendment
2. 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 Ordinary shares of Mode Global Holdings plc
b) Nature of the transaction Change of exercise price of existing options
c) Price(s) and volume(s)
Price Volume
7.5 pence 161,074
d) Aggregated information
Aggregated volume Volume: 161,074
Price
Price: 7.5 pence
e) Date of the transaction 30 August 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume
Price
Volume: 161,074
Price: 7.5 pence
e)
Date of the transaction
30 August 2022
f)
Place of the transaction
Outside a trading venue
1 Details of PDMR / person closely associated with them
a) Name David Shrier
b) Position / status Non-Executive Director
c) Initial notification / Initial notification
amendment
2. 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 Ordinary shares of Mode Global Holdings plc
b) Nature of the transaction Award of options to subscribe for ordinary shares
c) Price(s) and volume(s)
Price Volume
7.5 pence 1,000,000
d) Aggregated information
Aggregated volume Volume: 1,000,000
Price
Price: 7.5 pence
e) Date of the transaction 30 August 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume
Price
Volume: 1,000,000
Price: 7.5 pence
e)
Date of the transaction
30 August 2022
f)
Place of the transaction
Outside a trading venue
1 Details of PDMR / person closely associated with them
a) Name Mike Robertson
b) Position / status Non-Executive Director
c) Initial notification / Initial notification
amendment
2. 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 Ordinary shares of Mode Global Holdings plc
b) Nature of the transaction Awards of options to subscribe for ordinary shares
c) Price(s) and volume(s)
Price Volume
7.5 pence 200,000
d) Aggregated information
Aggregated volume Volume: 200,000
Price
Price: 7.5 pence
e) Date of the transaction 30 August 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume
Price
Volume: 200,000
Price: 7.5 pence
e)
Date of the transaction
30 August 2022
f)
Place of the transaction
Outside a trading venue
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