Bagir Group Ltd Director/PDMR Shareholding (0592Q)
November 24 2016 - 6:00AM
UK Regulatory
TIDMBAGR
RNS Number : 0592Q
Bagir Group Ltd
24 November 2016
Bagir Group Ltd.
("Bagir" or the "Company")
Grant of options
Bagir (AIM: BAGR), a designer, creator and provider of
innovative tailoring, announces that following the approval of
shareholders at the EGM held on 21 October 2016, it has completed
the grant of options to certain of the Company's key employees,
including its CEO, Eran Itzhak, and the Company's CFO and Deputy
CEO, Udi Cohen, (the "Grant").
Full details of the Grant were announced on 15 September 2016
and the number of options granted to the Company's CEO and CFO were
as follows:
Director Position Existing New options Number of Percentage
share options granted options of granted
following options
grant of fully
diluted
share capital
Eran
Itzhak CEO 1,383,350 6,705,362 8,088,712 2.80%
Udi Cohen CFO 1,405,425 5,238,874 6,644,299 2.30%
(the "Incentivisation Options").
The key features of the Incentivisation Options are as
follows:
-- vesting of options is to be based on certain stretch targets as follows:
o 25 per cent. on grant;
o 25 per cent. once the Company's share price is 8 pence or
above measured on a 30 day VWAP basis;
o 25 per cent. once the Company's share price is 10 pence or
above measured on a 30 day VWAP basis;
o 25 per cent. once the Company's share price is 12 pence or
above measured on a 30 day VWAP basis.
-- options will be exercisable at the Issue Price. There will be
the usual acceleration provisions, including, in the event of a
takeover. The total scheme length will be 5 years; and
-- the total number of shares under the Company's Existing
Option Plan will represent approximately 12 per cent of the
enlarged and fully diluted share capital.
In addition, the Company has also completed the grant of
17,803,050 Incentivisation Options to several key employees (who
are non-PDMRs) on similar terms as described above. The Company has
therefore granted, in aggregate, 29,747,286 new options over
ordinary shares.
Terms used but not defined in this Announcement have the
meanings given to such terms in the Circular published 15 September
2015.
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation, provides further detail.
For further information, please contact:
Bagir Group Ltd.
Eran Itzhak, Chief Executive
Officer
Udi Cohen, Chief Financial
Officer +44 (0) 1483 751577
N+1 Singer
Alex Price
Sandy Ritchie +44 (0)20 7496 3000
Novella
Tim Robertson
Toby Andrews +44 (0) 20 3151 7008
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) Name Eran Itzhak (Chief Executive
Officer)
--------------------------------------------------- -----------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------
a) Position/status PDMR (Director)
--------------------------------------------------- -----------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------------------- -----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
----------------------------------------------------------------------------------------
a) Name Bagir Group limited
--------------------------------------------------- -----------------------------------
b) LEI N/A
--------------------------------------------------- -----------------------------------
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 Options over ordinary shares
the financial of 0.04 New Israeli Shekels
instrument, type each
of instrument
IL0011317216
Identification
code
--------------------------------------------------- -----------------------------------
b) Nature of the Grant of options
transaction
--------------------------------------------------- -----------------------------------
c) Price(s) and volume(s) Exercise Price(s) Volume(s)
3.5 pence 6,705,362
----------
--------------------------------------------------- -----------------------------------
d) Aggregated information
- Aggregated volume 6,705,362 options over ordinary
shares
- Exercise Price
3.5 pence
--------------------------------------------------- -----------------------------------
e) Date of the transaction 21 October 2016
--------------------------------------------------- -----------------------------------
f) Place of the transaction London Stock Exchange (XLON)
--------------------------------------------------- -----------------------------------
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) Name Udi Choen (Chief Financial
Officer)
------------------------- ----------------------------------
2 Reason for the notification
-------------------------------------------------------------
a) Position/status PDMR (Director)
------------------------- ----------------------------------
b) Initial notification Initial notification
/Amendment
------------------------- ----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
-------------------------------------------------------------
a) Name Bagir Group limited
------------------------- ----------------------------------
b) LEI N/A
------------------------- ----------------------------------
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 Options over ordinary shares
the financial of 0.04 New Israeli Shekels
instrument, type each
of instrument
IL0011317216
Identification
code
------------------------- ----------------------------------
b) Nature of the Grant of options
transaction
------------------------- ----------------------------------
c) Price(s) and volume(s) Exercise Price(s) Volume(s)
3.5 pence 5,238,874
----------
------------------------- ----------------------------------
d) Aggregated information
- Aggregated volume 5,238,874 options over ordinary
shares
- Exercise Price
3.5 pence
------------------------- ----------------------------------
e) Date of the transaction 21 October 2016
------------------------- ----------------------------------
f) Place of the transaction London Stock Exchange (XLON)
------------------------- ----------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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