System1 Group PLC Grant of Options

Data : 05/09/2019 @ 08:01
Fonte : UK Regulatory (RNS & others)
Titolo : System1 Group Plc (SYS1)
Quotazione : 202.0  0.0 (0.00%) @ 08:34
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System1 Group PLC Grant of Options

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RNS Number : 2704L

System1 Group PLC

05 September 2019

 
 Press Release   5 September 2019 
 

System1 Group PLC (AIM: SYS1)

("System1", or "the Company")

Grant of Options

Following approval by shareholders at the 2019 annual general meeting to amend certain of the terms of the System1 Group PLC Long Term Incentive Plan (the "LTIP"), the Company announces that it has granted awards under the LTIP. Full details of the amendments to the LTIP can be found in the 2019 Notice of AGM.

The share options are nil cost and will vest subject to achieving stretching performance conditions, as follows:

a) Maximum vesting requires gross profit in any financial year ending 31 March prior to 12 August 2024 of at least GBP77.1m, and minimum vesting requires gross profit of at least GBP39.5m; and

   b)   In addition, there are profit after tax and share price underpins 

The awards comprise nil cost options and conditional shares over 1,058,135 shares, of which options over 198,400 shares were granted to each of John Kearon and James Geddes. In the case of James Geddes, the option award replaces options awarded to him in March 2017 under the LTIP (John Kearon did not previously participate in the LTIP).

The maximum potential dilution arising from options awarded under the LTIP remains below the upper limit under the rules of the plan (8.5% of the Company's issued share capital as at 1 January 2017 - 13,226,775 shares).

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                            John Kearon 
     ------------------------------  ----------------------------- 
 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) 
                                        Nil cost   198,400 Options 
                                                  ---------------- 
     ------------------------------  ----------------------------- 
 d)        Aggregated information 
             *    Aggregated volume     N/A 
 
 
             *    Aggregated price 
 
 
             *    Aggregated total 
     ------------------------------  ----------------------------- 
 e)   Date of the transaction         4 September 2019 (UK) 
     ------------------------------  ----------------------------- 
 f)   Place of the transaction        Outside a trading venue 
     ------------------------------  ----------------------------- 
 
 
 1.   Details of PDMR / person closely associated 
       with them ("PCA") 
 a)   Name                            James Geddes 
     ------------------------------  ----------------------------- 
 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) 
                                        Nil cost   198,400 Options 
                                                  ---------------- 
     ------------------------------  ----------------------------- 
 d)        Aggregated information 
             *    Aggregated volume     N/A 
 
 
             *    Aggregated price 
 
 
             *    Aggregated total 
     ------------------------------  ----------------------------- 
 e)   Date of the transaction         4 September 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 
 

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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September 05, 2019 02:01 ET (06:01 GMT)

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