Dividend Timetable and PDMR Option Exercise
Interim dividend of 1.0p per share declared; CEO exercises options for 374,011 shares.
- Interim dividend per share 1.0p
- Dividend payment date 4 October 2024
- Record date 30 August 2024
- Shares exercised by CEO 374,011
- CEO shareholding after exercise 3,100,787 shares (1.2%)
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Team Internet Group Plc (AIM: TIG, OTCQX: TIGXF), the global internet company that generates recurring revenue from creating meaningful and successful connections: businesses to domains, brands to consumers, publishers to advertisers, is pleased to confirm the timetable for the interim dividend noted in the 12 August 2024 unaudited financial results RNS announcement.
Dividend Timetable
Team Internet declares an interim dividend of 1.0 pence per share. The dividend will be payable on 4 October 2024 for shareholders on the Company's register of members at close of business on 30 August 2024.
Michael Riedl, CEO of Team Internet, commented: "I am pleased to announce Team Internet's first interim dividend, marking a significant step in our commitment to returning value to our shareholders. This interim dividend, in addition to our recent annual final dividend payment, underscores our balanced capital allocation strategy. We recognise the importance of managing our debt prudently while also ensuring that we reward our long-term shareholders. We are confident that this strategy will contribute to sustained growth and financial health, and we look forward to keeping you updated on our progress throughout our journey."
PDMR Option Exercise
The Company also announces that on 16 August 2024, the following PDMR exercised share options previously granted by the Company ("Options") over ordinary shares of 0.1p each ("Ordinary Shares"):
| PDMR | Number of Ordinary Shares acquired on exercise of Options | Date of grant of Option |
|---|---|---|
| Michael Riedl | 200,724 | 10 March 2020 |
| Michael Riedl | 173,287 | 10 March 2020 |
The Options exercise was satisfied by 374,011 shares from the Team Internet Employee Benefit Trust. Michael Riedl intends to retain all the shares acquired through the Options exercise and has no plans to sell any shares. Michael Riedl will personally settle the tax liabilities related to this exercise. Following the exercise, Michael Riedl holds 3,100,787 Ordinary Shares, representing 1.2% of the Company's total voting rights.
The table below summarises the total number of Ordinary Shares held under options by the Directors as at the date of this announcement:
| Director | Number of Ordinary Shares subject to options | Issue Date | Vesting Period | Exercise price per Ordinary Share |
|---|---|---|---|---|
| Michael Riedl | 231,049 | 10 March 2020 | 1 March 2023 - 1 March 2025 | Nil |
| Michael Riedl | 1,046,540 | 15 May 2023 | 15 May 2023 - 15 May 2026 | Nil |
| Michael Riedl | 1,046,541 | 15 May 2023 | 15 May 2023 - 15 May 2027 | Nil |
| Michael Riedl | 1,046,541 | 15 May 2023 | 15 May 2023 - 15 May 2028 | Nil |
| William Green | 6,061 | 7 March 2022 | 1 Jan 2023 - 1 Jan 2025 | Nil |
| William Green | 400,000 | 15 May 2023 | 15 May 2023 - 15 May 2026 | Nil |
| William Green | 400,000 | 15 May 2023 | 15 May 2023 - 15 May 2027 | Nil |
| William Green | 400,000 | 15 May 2023 | 15 May 2023 - 15 May 2028 | Nil |
| William Green | 14,171 | 15 May 2023 | 15 May 2023 - 15 May 2026 | Nil |
A total number of 8,410,982 Ordinary Shares are held under options granted to all employees and Directors of the Team Internet group.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Michael Riedl |
| 2 | Reason for the notification | |
| a) | Position/status | CEO |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Team Internet Group plc |
| b) | LEI | 213800M4IINBWMXEKV82 |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of £0.001 GB00BCCW4X83 |
| b) | Nature of the transaction | Exercise of share options |
| c) | Price(s) and volume(s) | Exercise of share option Price(s) Volume(s) Nil Nil 200,724 173,287 |
| d) | Aggregated information - Aggregated volume - Price | Transaction Type Aggregated Volume Aggregated Price Exercise of Options 374,011 0 GBP |
| e) | Date of the transaction | 16 August 2024 |
| f) | Place of the transaction | London Stock Exchange, AIM |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.