System1 Group PLC Grant of Options (2704L)
05 Settembre 2019 - 8:01AM
UK Regulatory
TIDMSYS1
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
DSHSSFFWLFUSEIU
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September 05, 2019 02:01 ET (06:01 GMT)
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