Mode Global Holdings PLC Director/PDMR Disclosures (6268X)
August 30 2022 - 9:07AM
UK Regulatory
TIDMMODE
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 Current Exercise New Exercise Expiry Date
Existing Options Price Price
Held
Jonathan Rowland 805,370 50 pence 7.5 pence 27 October 2030
(Chairman)
------------------ ----------------- ------------- ------------------
Rita (Yu) Liu 2,013,425 50 pence 7.5 pence 4 November 2030
(CEO)
------------------ ----------------- ------------- ------------------
Richard Morecroft 2,416,110 50 pence 7.5 pence 27 October 2030
(Director)
------------------ ----------------- ------------- ------------------
David Anderson 161,074 50 pence 7.5 pence 5 April 2031
(Non-Executive
Director)
------------------ ----------------- ------------- ------------------
The Company is also pleased to announce that it has granted new
share options ("New Options") to certain Directors as follows:
Director New Options Exercise Price
Granted:
Jonathan Rowland 1,000,000 7.5 pence
(Chairman)
------------ ---------------
Rita (Yu) Liu (CEO) 800,000 7.5 pence
------------ ---------------
David Shrier (Non- 1,000,000 7.5 pence
Executive Director)
------------ ---------------
Mike Robertson (Non-Executive 200,000 7.5 pence
Director)
------------ ---------------
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.
-S-
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.
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 Ordinary shares of Mode Global Holdings
the financial plc
instrument
======================= -----------------------------------------------
b) Nature of the (i) Change of exercise price of existing
transaction options
(ii) Awards of additional options to subscribe
for ordinary shares
======================= -----------------------------------------------
c) Price(s) and Price Volume
volume(s) 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 Outside a trading venue
transaction
======================= ===============================================
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 Ordinary shares of Mode Global Holdings
the financial plc
instrument
======================= -----------------------------------------------
b) Nature of the (i) Change of exercise price of existing
transaction options
(ii) Awards of additional options to subscribe
for ordinary shares
======================= -----------------------------------------------
c) Price(s) and Price Volume
volume(s) 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 Outside a trading venue
transaction
======================= ===============================================
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 Ordinary shares of Mode Global Holdings
the financial plc
instrument
======================= --------------------------------------------
b) Nature of the Change of exercise price of existing options
transaction
======================= --------------------------------------------
c) Price(s) and Price Volume
volume(s) 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 Outside a trading venue
transaction
======================= ============================================
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 Ordinary shares of Mode Global Holdings
the financial plc
instrument
======================= --------------------------------------------
b) Nature of the Change of exercise price of existing options
transaction
======================= --------------------------------------------
c) Price(s) and Price Volume
volume(s) 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 Outside a trading venue
transaction
======================= ============================================
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 Ordinary shares of Mode Global Holdings
the financial plc
instrument
======================= ------------------------------------------
b) Nature of the Award of options to subscribe for ordinary
transaction shares
======================= ------------------------------------------
c) Price(s) and Price Volume
volume(s) 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 Outside a trading venue
transaction
======================= ==========================================
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 Ordinary shares of Mode Global Holdings
the financial plc
instrument
======================= -------------------------------------------
b) Nature of the Awards of options to subscribe for ordinary
transaction shares
======================= -------------------------------------------
c) Price(s) and Price Volume
volume(s) 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 Outside a trading venue
transaction
======================= ===========================================
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END
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