Altitude Group PLC Trading Update and Director Share Awards (4755R)
October 27 2023 - 1:00AM
UK Regulatory
TIDMALT
RNS Number : 4755R
Altitude Group PLC
27 October 2023
27 October 2023
Altitude Group plc
("Altitude", the "Group" or the "Company")
Trading Update
and
Notice of Results
and
Director Share Awards
and
Total Voting Rights
Altitude Group Plc (AIM: ALT), the leading end-to-end solutions
provider for branded merchandise, is pleased to provide a trading
update for the six months ended 30 September 2023, ahead of the
announcement of its half year results expected to be released on
28th November ("HY24").
Trading Update
The Group's financial performance in HY24 is expected to
demonstrate significant year on year growth, surpassing the figures
from HY23 by over 50% on revenue and nearly 40% on Adjusted
Operating Profit. The Group is benefiting from strong growth in its
Merchanting Division and continuing solid performance in its
Services Division. This is very much in line with the Board's
expectations and gives us great confidence with both the short term
and long term outlook for the Company.
As of September 2023, the AMPs awarded contracts have been
successfully launched, per the Company's June trading update, on
time and in multiple cities across the United States. Commercial
trading within these spaces has commenced. Additionally, the
business development team remains active and the pipeline continues
to be robust.
Nikki Stella, CEO of Altitude plc, commented; 'these results are
a real testament to the incredible hard work and talent of the team
assembled within the Group. On behalf of the Board I would like to
thank them. We remain highly confident about the future of Altitude
and look forward to further updating shareholders with our interim
results in November."
Notice of Results
The Company is also looking forward to announcing its interim
results for the period ended 30 September 2023 on 28 November
2023.
Director Share Awards
The Company further announces that executive directors Nichole
Stella, CEO, Graham Feltham, CFO, and Deborah Wilkinson, COO (the
"Executive Directors") have elected to receive 25% of the annual
performance bonuses which were awarded to them under the Company's
annual bonus plan for the financial year ended 31 March 2023, in
Altitude shares, with the balance to be settled in cash. As a
result, the Executive Directors have been issued the number of
ordinary shares (the "Issue") of 0.4 pence each in the Company
("Ordinary Shares") set out next to their names in the table below.
The Ordinary Shares are being issued at an effective price of 43.51
pence each .
Director Position Value of Ordinary Resulting Resulting
Deferred Shares awarded total of percentage
Bonus receivable Ordinary of issued
in Ordinary Shares interested share capital
Shares (GBP) in
N ichole Stella CEO 63,469 145,868 1,165,475 1.64%
---------- ------------------ ---------------- ------------------- ---------------
G raham Feltham CFO 36,050 82,852 225,675 0.32%
---------- ------------------ ---------------- ------------------- ---------------
D eborah Wilkinson COO 25,750 59,180 613,030 0.86%
---------- ------------------ ---------------- ------------------- ---------------
Further details regarding the performance bonus are set out
within the Directors' Report within the Company's 2023 Annual
Report.
Admission and Total Voting Rights
Application has been made for the 287,900 new Ordinary Shares
pursuant to the Issue to be admitted to trading on AIM and dealings
are expected to commence on 1 November 2023 ("Admission").
The new Ordinary Shares will rank pari passu with the existing
shares of the Company. Following Admission, the Company's issued
share capital will consist of 71,135,730 Ordinary Shares.
Accordingly, the figure of 71,135,730 may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in the Company under the FCA's
Disclosure Guidance and Transparency Rules.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
The notifications set out below are provided in accordance with
the requirements of the EU Market Abuse Regulation as part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018
and set out more details of the transactions.
1. Details of PDMR
(a) Name 1. Nichole Stella
2. Graham Feltham
3. Deborah Wilkinson
-------------------------- ---------------------------------------------
2. Reason for notification
-------------------------------------------------------------------------
(b) Position / status 1. Chief Executive Officer
2. Chief Financial Officer
3. Chief Operating Officer
-------------------------- ---------------------------------------------
(c) Initial notification Initial notification in each case
/ amendment
-------------------------- ---------------------------------------------
3. Details of the Issuer
-------------------------------------------------------------------------
(a) Name Altitude Group plc
-------------------------- ---------------------------------------------
(b) LEI 213800VACSTYYSI39R89
-------------------------- ---------------------------------------------
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 transaction(s)
have been conducted
-------------------------------------------------------------------------
(a) Description of Ordinary shares of 0.4p
the financial instrument
-------------------------- ---------------------------------------------
(b) Nature of the transaction Award of shares under the annual performance
bonus plan
-------------------------- ---------------------------------------------
(c) Price(s) and volume Price Volume
1. 43.51p 145,868
2. 43.51p 82,852
3 . 43.51p 59,180
-------------------------- ---------------------------------------------
(d) Aggregated information N/A
-------------------------- ---------------------------------------------
(e) Date of the transaction 25 October 2023
-------------------------- ---------------------------------------------
(f) Place of the transaction Outside a trading venue
-------------------------- ---------------------------------------------
For enquiries, please contact:
Altitude Group plc Via Zeus
Nichole Stella, Chief Executive Officer
Graham Feltham, Chief Financial Officer
Zeus (Nominated Adviser & Broker) Tel: +44 (0)161
Dan Bate / David Foreman / James Edis (Investment 831 1512
Banking)
Dominic King (Corporate Broking)
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