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LoopUp Group PLC - Director/PDMR Shareholding

RNS Number : 7127G
LoopUp Group PLC
19 March 2020
 

19 March 2020

 

LOOPUP GROUP PLC

("LoopUp Group" or the "Group")

 

Update on measures relating to 2018 and 2019 options grants

and

Director and PDMR Dealings

 

LoopUp Group plc (LSE AIM: LOOP), the premium remote meetings company, provides an update to the announcement made on 4 December 2019 in relation to the offer made to current employees - excluding co-CEOs Steve Flavell and Michael Hughes - concerning options granted in August 2018 and June 2019.

 

Following the conclusion of the process, it has resulted in the cancellation of 2,512,250 options granted in August 2018 and June 2019 ("Old Options") and the grant of 2,171,800 new options with an exercise price of 75 pence ("New Options").

 

The grant of 2,171,800 New Options equates to 3.9% of the Group's current issued share capital. In total, 4,632,645 options over the Company's Ordinary Shares are now outstanding, which equates to 8.4% of the Group's current issued share capital. The Group's current total number of ordinary shares in issue is 55,245,182.

 

The Group's Remuneration Committee and the Board maintain that these share options are an effective and important mechanism to incentivise and retain key employees of the Group and to align them with shareholder interests.

 

Cancellation of Old Options and New Options granted to Directors / PDMRs

 

The following PDMRs of the Group had share options granted or cancelled, which are included in the totals above:

 

Name

Title

Options




Shares

Old Options cancelled

New Options granted

Total number of options held post cancellation and grant

Options as % of issued share capital

Number of shares

% of issued share capital

Steve Flavell

co-CEO, Director

(180,000)

-

-

0.00%

2,625,875

4.75%

Michael Hughes

co-CEO, Director

(180,000)

-

880,000

1.59%

2,616,899

4.74%

Simon Healey

CFO, Director

(95,000)

82,000

152,000

0.28%

64,500

0.12%

Marcus Greensit

COO, PDMR

(180,000)

156,000

456,000

0.83%

156,243

0.28%

Robert Jardine

CMO, PDMR

(107,500)

93,000

93,000

0.17%

-

-

Alex
Breen

CPO, PDMR

(107,500)

93,000

203,218

0.37%

452,207

0.82%

Benjamin Fried

VP Group Commercial, PDMR

(95,000)

82,000

82,000

0.15%

3,381

0.01%

David Carroll

VP Network Operations, PDMR

(95,000)

82,000

82,000

0.15%

-

-

Koorosh

Nouri

VP Engineering, PDMR

(60,000)

52,000

52,000

0.09%

-

-

Edward Cooper

General Counsel, PDMR

(60,000)

52,000

52,000

0.09%

1,114

0.00%

 

The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation is appended below.

 

For further information, please contact:

 

LoopUp Group PLC

via FTI

Steve Flavell, co-CEO




Panmure Gordon (UK) Limited

+44 (0) 207 886 2500

Dominic Morley / Alina Vaskina (Corporate Finance)


Erik Anderson (Corporate Broking)




Numis Securities Limited

+44 (0) 207 260 1000

Simon Willis/Jonny Abbott (Corporate Finance)




FTI Consulting, LLP

+44 (0) 203 727 1000

Matt Dixon / Emma Hall / Jamille Smith / Shamma Kelly


 

 

About LoopUp Group plc

 

LoopUp (LSE AIM: LOOP) is a premium remote meetings solution. LoopUp helps technology leaders to unlock the true potential of remote meetings in their organisations by combining simple, progressive software with best-in-class audio reliability. Over 2,000 organisations worldwide trust LoopUp's award-wining SaaS solution with their remote meetings, including 20 of the world's top-100 law firms, 24 of the world's top-100 private equity firms, and enterprises such as Travelex, Kia Motors, Planet Hollywood and National Geographic. The Group is headquartered in London, with offices in San Francisco, New York, Boston, Chicago, Dallas, Los Angeles, Atlanta, Denver, Cardiff, Milton Keynes, Madrid, Berlin, Malmo, Hong Kong, Sydney and Barbados, and is listed on the AIM market of the London Stock Exchange (LOOP). For further information, please visit: www.loopup.com.

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 

 1

 

Details of the person discharging managerial responsibilities / person closely associated 

a)

 

Names 

1. Steve Flavell, co-CEO, Director

2. Michael Hughes, co-CEO, Director

3. Simon Healey, CFO, Director

4. Marcus Greensit, COO, PDMR

5. Robert Jardine, CMO, PDMR

6. Alex Breen, CPO, PDMR

7. Benjamin Fried, VP Group Commercial, PDMR

8. David Carroll, VP Network Operations, PDMR

9. Koorosh Nouri, VP Engineering, PDMR

10. Edward Cooper, General Counsel, PDMR

2

 

Reason for the notification

a)

 

Position/status

 

Classified as PDMRs of the Company

b)

 

Initial notification /Amendment

 

Initial Notification

3

 

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

a)

 

Name

 

LoopUp Group plc

b)

 

LEI

21380063DQ4WXDQLYB80

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

 

Options over Ordinary Shares of 0.5p each

b)

Identification code 

 

GB00BYQP6S60

c)

 

Nature of the transaction 

 

 Cancellation of Old Options and Grant of New Options

d)

 

Price(s) and volume(s)

Cancellation of 2018 Options

 

 

Price(s)

Volume(s)

1.  

440p

120,000

2.  

440p

120,000

3.  

440p

60,000

4.  

440p

120,000

5.  

440p

70,000

6.  

440p

70,000

7.  

440p

60,000

8.  

440p

60,000

9.  

440p

40,000

10. 

440p

40,000

Cancellation of 2019 Options

 

Price(s)

Volume(s)

1.  

317.5p

60,000

2.  

317.5p

60,000

3.  

317.5p

35,000

4.  

317.5p

60,000

5.  

317.5p

37,500

6.  

317.5p

37,500

7.  

317.5p

35,000

8.  

317.5p

35,000

9.  

317.5p

20,000

10. 

317.5p

20,000

 

 

Grant of New Options

 

 

Price(s)

Volume(s)

1.  

-

-

2.  

-

-

3.  

75p

82,000

4.  

75p

156,000

5.  

75p

93,000

6.  

75p

93,000

7.  

75p

82,000

8.  

75p

82,000

9.  

75p

52,000

10. 

75p

52,000

d)

 

Aggregated information 

- Aggregated volume

- Price

Cancellation of 2018 Options

760,000 options at 440p each

 

Cancellation of 2019 Options

400,000 options at 317.5p each

 

Grant of New Options

692,000 options at 75p each

 

e)

 

Date of the transaction 

19 March 2020

f)

Place of the transaction

London Stock Exchange

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
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