TIDMAO.

RNS Number : 5046K

AO World plc

21 December 2022

For immediate release

AO World plc (the "Company")

Director / PDMR Shareholding

The Company announces that on 20 December 2022 it awarded performance units under the restructured AO Value Creation Plan 2022 ("VCP") to the directors and PDMRs of the Company as listed below.

The VCP was approved by the Company's shareholders at its AGM held on 28 September 2022. Full details of the VCP were set out in the Company's Notice of Annual General Meeting (available on the Company's website at https://www.ao-world.com/investor-centre/reports-and-presentations/ ).

John Roberts and Mark Higgins, as directors and PDMRs of the Company, have each been granted an Executive Award under the VCP. These awards replace the awards granted in 2020 under the VCP 2020, which have now been surrendered.

No payment has been made for the grant of these awards and they have no value at grant.

Executive Awards vest in three equal tranches on 31 March 2027, 31 March 2028 and 31 March 2029 (the "Measurement Dates") if on those dates the Board determines that the "Plan Value" is greater than nil. If the Plan Value is nil on a Measurement Date that tranche will lapse immediately.

The Plan Value on a Measurement Date will be equal to 10% of the market capitalisation of the Company on that date. For these purposes the market capitalisation will be calculated using the average closing price of a share (capped at GBP10.43) over the three months ending on that date less GBP1, times the number of shares in the share capital of the Company in issue.

The rules of the Plan provide that the total number of shares which may be issued under the VCP across all participants may not exceed 5% of the issued ordinary share capital of the Company.

The Notification of Dealing Form provided in accordance with the requirements of MAR in relation to the transactions listed above is set out below:

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                             John Roberts 
     =============================== 
 2    Reason for the notification 
 a)   Position/status                  CEO, Founder and Director 
     =============================== 
 b)   Initial notification/Amendment   Initial Notification 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
 a)   Name                             AO World PLC 
 b)   LEI                              2138005FFOAJIUZY4375 
     =============================== 
 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                   Units representing rights over Ordinary 
       the financial                    shares of 0.25p each in AO World PLC - the 
       instrument, type                 number of shares will be determined at the 
       of instrument                    Measurement Dates of the AO World Plc Value 
                                        Creation Plan 2022 
     =============================== 
 b)   Nature of the                    Award under 2022 VCP. 
       transaction 
 c)   Price(s) and volume(s)                    Price(s)          Volume(s) 
                                                NIL        Units equivalent to 
                                                         such number of Ordinary 
                                                         Shares as equals 3.33% 
                                                            of Plan Value on 31 
                                                           March 2027, 31 March 
                                                           2028, 31 March 2029. 
                                                       ------------------------- 
     =============================== 
 d)   Aggregated information           As above 
       - Aggregated volume 
       - Price 
 e)   Date of the transaction          20 December 2022 
     =============================== 
 f)   Place of the transaction         London, England 
===  ===============================  =============================================

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                             Jonathan Mark Stephen Higgins 
     =============================== 
 2    Reason for the notification 
 a)   Position/status                  CFO, Director 
     =============================== 
 b)   Initial notification/Amendment   Initial Notification 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
 a)   Name                             AO World PLC 
 b)   LEI                              2138005FFOAJIUZY4375 
     =============================== 
 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                   Units representing rights over Ordinary 
       the financial                    shares of 0.25p each in AO World PLC - the 
       instrument, type                 number of shares will be determined at the 
       of instrument                    Measurement Dates of the AO World Plc Value 
                                        Creation Plan 2022 
     =============================== 
 b)   Nature of the                    Award under 2022 VCP. 
       transaction 
 c)   Price(s) and volume(s)                    Price(s)          Volume(s) 
                                                NIL        Units equivalent to 
                                                         such number of Ordinary 
                                                         Shares as equals 3.33% 
                                                            of Plan Value on 31 
                                                           March 2027, 31 March 
                                                           2028, 31 March 2029. 
                                                       ------------------------- 
     =============================== 
 d)   Aggregated information           As above 
       - Aggregated volume 
       - Price 
 e)   Date of the transaction          20 December 2022 
     =============================== 
 f)   Place of the transaction         London, England 
===  ===============================  =============================================

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END

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December 21, 2022 07:32 ET (12:32 GMT)

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