System1 Group PLC Grant of Options (5556W)
April 18 2019 - 2:00AM
UK Regulatory
TIDMSYS1
RNS Number : 5556W
System1 Group PLC
18 April 2019
Press Release 18 April 2019
System1 Group PLC (AIM: SYS1)
("System1", or "the Company")
Grant of Options
Following consultation with its major shareholders, the Company
announces that it has granted awards under an equity incentive plan
to Stefan Barden, an advisor to the Board and PDMR, subject to
approval by shareholders at the Company's next Annual General
Meeting. In the event the approval is not obtained, the awards will
lapse.
The awards comprise zero priced options over 300,000 shares
(approximately 2.4% of the Company's voting share capital), and are
split into three equal tranches. They are designed to vest only if
a significant step-change in gross profit is achieved; being growth
rates of approximately 100%, 200% and 300% for each of the three
tranches respectively.
Performance Conditions
100,000 zero-priced stock options ("Tranche One Options")
-- Vest: when the Company's audited Gross Profit in any
financial year exceeds GBP45m, subject to the Company's share price
exceeding GBP5.00 per share for a 30 day consecutive period prior
to the lapse date;
-- Lapse date: 30 July 2024;
100,000 zero-priced stock options ("Tranche Two Options")
-- Vest: when the Company's audited Gross Profit in any
financial year exceeds GBP68m, subject to the Company's share price
exceeding GBP7.50 per share for a 30 day consecutive period prior
to the lapse date;
-- Lapse date: 30 July 2029;
100,000 zero-priced stock options ("Tranche Three Options")
-- Vest: when the Company's audited Gross Profit in any
financial year exceeds GBP90m, subject to the Company's share price
exceeding GBP10.00 per share over a 30 day consecutive period prior
to the lapse date;
-- Lapse date: 30 July 2032.
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 ("PCA")
a) Name Stefan Barden
------------------------------ ------------------------------
2. Reason for the notification
--------------------------------------------------------------
a) Position / status PDMR
------------------------------ ------------------------------
b) Initial notification Initial notification
/ amendment
------------------------------ ------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--------------------------------------------------------------
a) Name System1 Group PLC
------------------------------ ------------------------------
b) Legal Entity Identifier 213800TDLR42C3Q9ZB74
------------------------------ ------------------------------
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 instrument
------------------------------ ------------------------------
b) Nature of the transaction Granting of LTIP Awards
------------------------------ ------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Zero cost 300,000 Options
----------------
------------------------------ ------------------------------
d) Aggregated information
* Aggregated volume N/A
* Aggregated price
* Aggregated total
------------------------------ ------------------------------
e) Date of the transaction 17 April 2019 (UK)
------------------------------ ------------------------------
f) Place of the transaction Outside a trading venue
------------------------------ ------------------------------
The Company can be found at www.system1group.com.
For further information, please contact:
System1 Group PLC Tel: +44 (0)20 7043
1000
John Kearon, Chief Executive Officer
James Geddes, Chief Financial Officer
Canaccord Genuity Limited Tel: +44 (0)20 7523
8000
Simon Bridges / Emma Gabriel
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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