LTIP option awards and PDMR dealings
CFO Designate Nic Hellyer granted 2.5m LTIP options at 3p strike price, vesting over three years.
- LTIP options granted to CFO Designate 2,500,000
- Strike price 3p
- Percentage of issued share capital 0.51%
- Total options outstanding under LTIP 52,808,831
- Total options as % of ISC 10.8%
- Weighted average price of total options 6.2p
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Mirriad Advertising plc, the leading in-content advertising company, announces that, under the terms of the Company's long-term incentive plan ("LTIP"), 2,500,000 options over Ordinary Shares of £0.00001 each in the Company (the "Options") were granted on 7 November 2023 to Nic Hellyer, CFO Designate, at the start of his employment with the Company. The decision to grant the Options was made by the Remuneration Committee on 27 September 2023 and the grant is automatic with the commencement of Nic's employment.
The Options have been issued at a strike price of 3p each (equivalent to the price of the recent placing and open offer) and will vest annually over three years.
Total options granted
The quantity of the Options equates to 0.51% of the Company's existing issued share capital (the "ISC"). Following the grant of the Options, 52,808,831 options are under grant but not exercised under the Mirriad Advertising plc LTIP scheme (the "Total Options"), which equates to 10.8% of the ISC. The weighted average price of the Total Options is approximately 6.2p.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Nicolos ("Nic") Hellyer |
| 2 | Reason for the notification | |
| a) | Position / status | CFO Designate (PDMR) |
| b) | Initial notification / amendment | Initial notification |
| a) | Name | Mirriad Advertising plc |
| b) | LEI | 213800ZKOK9GIME7HE62 |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of £0.00001 each ISIN: GB00BF52QY14 |
| b) | Nature of the transaction | Grant of Options over Ordinary Shares |
| c) | Price(s) and volume(s) | Exercise price 3p, volume 2,500,000 |
| d) | Aggregated information - Aggregated volume - Price | 2,500,000 £75,000 |
| e) | Date of the transaction | 7 November 2023 |
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.