TIDMSIS
RNS Number : 8545K
Science in Sport PLC
26 September 2016
26 September 2016
SCIENCE IN SPORT PLC
("SiS" or the "Company")
New Long Term Incentive Plan
Science in Sport plc (AIM: SIS), a leading sports nutrition
company that develops, manufactures and markets sports nutrition
products for professional athletes and sports enthusiasts,
announces that, under the terms of the Company's long term
incentive plan ("LTIP") the awards set out below were granted today
in the form of nil cost options.
The awards will only vest on the achievement of certain revenue
growth targets over the 3 years 2016, 2017 and 2018. None of the
awards can be exercised until post 2018.
Following shareholder feedback the Company continues to be
focussed on revenue growth. The current growth rate for the sports
nutrition market is 8%, the share options will be awarded on a
sliding scale for revenue growth between 15% and 30% per annum over
the next 3 years.
This award replaces the existing 5 year LTIP, the 3 year revenue
growth phase of this scheme vested in March 2016, and was then
planned to be a profit plan for 2 years thereafter. Following the
raising of additional capital in October 2015, the strategy has
continued to be focused on revenue growth.
Name Position Number of
shares subject
to awards
John Clarke Chairman 404,627
Chief Executive
Stephen Moon Officer 1,798,342
Elizabeth
Lake Finance Director 597,949
Commercial
Ian Houghton Director 494,544
Ashley Read Marketing Director 404,627
Daniel Howarth General Manager 353,149
The value of the shares subject to these awards is 200% of the
basic salary of the Chairman and Chief Executive Officer, and 100%
of the basic salary of the Finance Director and other senior
management, calculated using the average price of the shares over
the three business days prior to this announcement.
In addition to the LTIP awards set out above, John Clarke and
Stephen Moon hold 221,360 and 1,685,006 options over ordinary
shares respectively.
Immediately prior to these awards the Company's issued share
capital was 43,216,191 Ordinary Shares and there were outstanding
awards (vested and unvested) under the previous STIP and LTIP
scheme over 2,152,892 Ordinary Shares.
This announcement contains inside information.
For further information:
Science in Sport PLC +44 (0) 20 7400 3700
Stephen Moon, CEO
Elizabeth Lake, Finance Director
Cenkos Securities - NOMAD
and Broker +44 (0) 20 7397 8900
Bobbie Hilliam
Yellow Jersey PR - Financial
PR
Felicity Winkles +44 (0) 7748 843 871
Harriet Jackson +44 (0) 7544 275 882
Notes for editors
About Science in Sport plc
Science in Sport plc is a leading sports nutrition company that
develops, manufactures and markets sports nutrition products for
professional athletes and sports enthusiasts. SiS is a strong brand
in the elite athlete community - in the 2016 London Olympics, 34
medal-winning athletes or teams used SiS products (compared with 24
in 2012).
The SiS core product ranges include: SiS GO, comprising energy
powders, isotonic gels, energy bars and hydration tablets; and SiS
REGO, including protein-based recovery powders and bars. SiS
products are sold in a range of retail channels, including
specialist sport retailers, major grocers, high street retailers
and e-commerce websites.
SiS is currently the official sports nutrition supplier to
professional cycling teams Team SKY, Team Wiggins and USA Cycling.
SiS is also the official sports nutrition partner to Liverpool FC
and the official supplier of sports drinks and sports nutrition to
the GB Rowing Team. In addition, Olympians Sir Chris Hoy MBE, and
Katarina Johnson Thomson are brand ambassadors and Mark Cavendish
is an Elite Sports Consultant to the brand.
SiS was founded in 1992 and is headquartered in Hatton Garden,
London. Its manufacturing facility is in Nelson, Lancashire.
SiS shares are traded on the AIM market of the London Stock
Exchange under the ticker symbol SIS.
For further information, please visit www.scienceinsport.com
1 Details of the person discharging managerial
responsibilities/person closely associated
---- -----------------------------------------------------------------
a) Name: John Clarke
---- ---------------------------------- -----------------------------
2 Reason for the notification
---- -----------------------------------------------------------------
a) Position/Status: Chairman
---- ---------------------------------- -----------------------------
b) Initial Notification/Amendment: Initial Notification
---- ---------------------------------- -----------------------------
3 Details of the issuer, emission allowance
market participation, auction platform, auctioneer
or auction monitor
---- -----------------------------------------------------------------
a) Name: Science in Sport Plc
---- ---------------------------------- -----------------------------
b) LEI: n/a
---- ---------------------------------- -----------------------------
4. Details of 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 Ordinary Shares of 10
financial instrument: pence each
Identification code: ISIN: GB00BBPV5329
---- ---------------------------------- -----------------------------
b) Nature of the transaction: Grant of nil cost options
under the Company's long
term incentive plan
---- ---------------------------------- -----------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---- ---------------------------------- -------------- -------------
Nil-cost 404,627
------------------------------------------------------ -------------
d) Aggregated volume: n/a
Price:
---- ---------------------------------- -----------------------------
e) Date of the Transaction: 26 September 2016
---- ---------------------------------- -----------------------------
f) Place of the Transaction: Outside a trading venue
---- ---------------------------------- -----------------------------
1 Details of the person discharging managerial
responsibilities/person closely associated
---- -----------------------------------------------------------------
a) Name: Stephen Moon
---- ---------------------------------- -----------------------------
2 Reason for the notification
---- -----------------------------------------------------------------
a) Position/Status: Chief Executive Officer
---- ---------------------------------- -----------------------------
b) Initial Notification/Amendment: Initial Notification
---- ---------------------------------- -----------------------------
3 Details of the issuer, emission allowance
market participation, auction platform, auctioneer
or auction monitor
---- -----------------------------------------------------------------
a) Name: Science in Sport Plc
---- ---------------------------------- -----------------------------
b) LEI: n/a
---- ---------------------------------- -----------------------------
4. Details of 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 Ordinary Shares of 10
financial instrument: pence each
Identification code: ISIN: GB00BBPV5329
---- ---------------------------------- -----------------------------
b) Nature of the transaction: Grant of nil cost options
under the Company's long
term incentive plan
---- ---------------------------------- -----------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---- ---------------------------------- -------------- -------------
Nil-cost 1,798,342
------------------------------------------------------ -------------
d) Aggregated volume: n/a
Price:
---- ---------------------------------- -----------------------------
e) Date of the Transaction: 26 September 2016
---- ---------------------------------- -----------------------------
f) Place of the Transaction: Outside a trading venue
---- ---------------------------------- -----------------------------
1 Details of the person discharging managerial
responsibilities/person closely associated
---- -----------------------------------------------------------------
a) Name: Elizabeth Lake
---- ---------------------------------- -----------------------------
2 Reason for the notification
---- -----------------------------------------------------------------
a) Position/Status: Finance Director
---- ---------------------------------- -----------------------------
b) Initial Notification/Amendment: Initial Notification
---- ---------------------------------- -----------------------------
3 Details of the issuer, emission allowance
market participation, auction platform, auctioneer
or auction monitor
---- -----------------------------------------------------------------
a) Name: Science in Sport Plc
---- ---------------------------------- -----------------------------
b) LEI: n/a
---- ---------------------------------- -----------------------------
4. Details of 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 Ordinary Shares of 10
financial instrument: pence each
Identification code: ISIN: GB00BBPV5329
---- ---------------------------------- -----------------------------
b) Nature of the transaction: Grant of nil cost options
under the Company's long
term incentive plan
---- ---------------------------------- -----------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---- ---------------------------------- -------------- -------------
Nil-cost 597,949
------------------------------------------------------ -------------
d) Aggregated volume: n/a
Price:
---- ---------------------------------- -----------------------------
e) Date of the Transaction: 26 September 2016
---- ---------------------------------- -----------------------------
f) Place of the Transaction: Outside a trading venue
---- ---------------------------------- -----------------------------
1 Details of the person discharging managerial
responsibilities/person closely associated
---- -----------------------------------------------------------------
a) Name: Ian Houghton
---- ---------------------------------- -----------------------------
2 Reason for the notification
---- -----------------------------------------------------------------
a) Position/Status: Commercial Director
---- ---------------------------------- -----------------------------
b) Initial Notification/Amendment: Initial Notification
---- ---------------------------------- -----------------------------
3 Details of the issuer, emission allowance
market participation, auction platform, auctioneer
or auction monitor
---- -----------------------------------------------------------------
a) Name: Science in Sport Plc
---- ---------------------------------- -----------------------------
b) LEI: n/a
---- ---------------------------------- -----------------------------
4. Details of 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 Ordinary Shares of 10
financial instrument: pence each
Identification code: ISIN: GB00BBPV5329
---- ---------------------------------- -----------------------------
b) Nature of the transaction: Grant of nil cost options
under the Company's long
term incentive plan
---- ---------------------------------- -----------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---- ---------------------------------- -------------- -------------
Nil-cost 494,544
------------------------------------------------------ -------------
d) Aggregated volume: n/a
Price:
---- ---------------------------------- -----------------------------
e) Date of the Transaction: 26 September 2016
---- ---------------------------------- -----------------------------
f) Place of the Transaction: Outside a trading venue
---- ---------------------------------- -----------------------------
1 Details of the person discharging managerial
responsibilities/person closely associated
---- -----------------------------------------------------------------
a) Name: Ashley Read
---- ---------------------------------- -----------------------------
2 Reason for the notification
---- -----------------------------------------------------------------
a) Position/Status: Marketing Director
---- ---------------------------------- -----------------------------
b) Initial Notification/Amendment: Initial Notification
---- ---------------------------------- -----------------------------
3 Details of the issuer, emission allowance
market participation, auction platform, auctioneer
or auction monitor
---- -----------------------------------------------------------------
a) Name: Science in Sport Plc
---- ---------------------------------- -----------------------------
b) LEI: n/a
---- ---------------------------------- -----------------------------
4. Details of 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 Ordinary Shares of 10
financial instrument: pence each
Identification code: ISIN: GB00BBPV5329
---- ---------------------------------- -----------------------------
b) Nature of the transaction: Grant of nil cost options
under the Company's long
term incentive plan
---- ---------------------------------- -----------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---- ---------------------------------- -------------- -------------
Nil-cost 404,627
------------------------------------------------------ -------------
d) Aggregated volume: n/a
Price:
---- ---------------------------------- -----------------------------
e) Date of the Transaction: 26 September 2016
---- ---------------------------------- -----------------------------
f) Place of the Transaction: Outside a trading venue
---- ---------------------------------- -----------------------------
1 Details of the person discharging managerial
responsibilities/person closely associated
---- -----------------------------------------------------------------
a) Name: Daniel Howarth
---- ---------------------------------- -----------------------------
2 Reason for the notification
---- -----------------------------------------------------------------
a) Position/Status: General Manager
---- ---------------------------------- -----------------------------
b) Initial Notification/Amendment: Initial Notification
---- ---------------------------------- -----------------------------
3 Details of the issuer, emission allowance
market participation, auction platform, auctioneer
or auction monitor
---- -----------------------------------------------------------------
a) Name: Science in Sport Plc
---- ---------------------------------- -----------------------------
b) LEI: n/a
---- ---------------------------------- -----------------------------
4. Details of 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 Ordinary Shares of 10
financial instrument: pence each
Identification code: ISIN: GB00BBPV5329
---- ---------------------------------- -----------------------------
b) Nature of the transaction: Grant of nil cost options
under the Company's long
term incentive plan
---- ---------------------------------- -----------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---- ---------------------------------- -------------- -------------
Nil-cost 353,149
------------------------------------------------------ -------------
d) Aggregated volume: n/a
Price:
---- ---------------------------------- -----------------------------
e) Date of the Transaction: 26 September 2016
---- ---------------------------------- -----------------------------
f) Place of the Transaction: Outside a trading venue
---- ---------------------------------- -----------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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