LPA Group PLC Grant of Share Options (9348T)
July 23 2020 - 10:31AM
UK Regulatory
TIDMLPA
RNS Number : 9348T
LPA Group PLC
23 July 2020
LPA GROUP PLC
("LPA" or the "Group")
Grant of Share Options
LPA Group Plc, the high reliability LED lighting and
electro-mechanical system manufacturer, announces the award of
share options (the "Share Options") under the LPA Group plc
Performance Share Plan 2018 ("PSP 2018") to the following directors
/ PDMRs and other employees of the Group (the "Award Holders"), as
follows:
Director/PDMR Position Number of Exercise
Options Price
Paul Curtis CEO 30,000 63.17p
--------------------------- ---------- ---------
Chris Buckenham CFO 25,000 63.17p
--------------------------- ---------- ---------
John Hesketh MD - LPA Lighting Systems 15,000 63.17p
--------------------------- ---------- ---------
MD - LPA Connection
Jonathan Rowe Systems 15,000 63.17p
--------------------------- ---------- ---------
Subtotal 85,000 63.17p
---------- ---------
Other employees 35,000 63.17p
---------- ---------
Total Awards 120,000 63.17p
---------- ---------
Under the terms of the PSP, the Share Options may be exercised
from 23 July 2023 until 22 July 2030. The Share Options are also
subject to clawback and malus provisions.
It is the expectation of the Company that the LPA Employee
Benefit Trust (the "EBT") will satisfy the awards when exercised.
In the event that the EBT does not satisfy the awards when
exercised, the Company will do so through an issue of new ordinary
shares to the Award Holders.
As a result of the grant of the Share Options, the total number
of options in place for directors and employees of LPA is as
follows:
Number of Options Exercise Price
540,000 36.00p
---------------
100,000 32.00p
---------------
185,000 49.00p
---------------
150,000 104.83p
---------------
255,000 109.33p
---------------
120,000 63.17p
---------------
1,350,000
---------------
The grants of the Share Options to the directors and PDMRs named
above are deemed to be related party transactions for the purposes
of Rule 13 of the AIM Rules (the "Transaction"). The directors
independent of the Transaction, being Len Porter, Gordon Wakefield
and Peter Pollock consider, having consulted with the Company's
Nominated Adviser, that the terms of the Transaction are fair and
reasonable insofar as its shareholders are concerned.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Enquires: www.lpa-group.com Tel:
------------------------------------- --------------------- --------------
LPA Group Plc
Peter Pollock Chairman 07881 626123
Paul Curtis CEO 01799 512858
Chris Buckenham CFO 01799 512859
Cairn Financial Advisers (Nominated Adviser) 020 7213 0880
James Caithie / Tony Rawlinson
finnCap (Broker) 020 7220 0500
Ed Frisby / Teddy Whiley (Corporate
Finance)
Tim Redfern / Tim Harper (ECM
& Sales)
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name a) Paul Curtis
b) Chris Buckenham
c) John Hesketh
d) Jonathan Rowe
------------------------- -----------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status a) CEO
b) CFO
c) MD - LPA Lighting Systems
d) MD - LPA Connection Systems
------------------------- -----------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------- -----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name LPA Group plc
------------------------- -----------------------------------------------
b) LEI 2138007S67YLDN6CEF21
------------------------- -----------------------------------------------
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 Options over ordinary shares of 10p each
of the financial
instrument, GB0007320806
type of instrument
Identification
code
------------------------- -----------------------------------------------
b) Nature of the Grant of share options
transaction
------------------------- -----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s)
------------------------- ---------------------------- -----------------
a) Exercise price: a) 30,000
63.17 p b) 25,000
b) Exercise price: c) 15,000
63.17 p d) 15,000
c) Exercise price:
63.17 p
d) Exercise price:
63.17 p
------------------------- ---------------------------- -----------------
Aggregated
d) information
- Aggregated
volume
- Price 85,000
63.17p
------------------------------ -----------------------------------------------
e) Date of the 23 July 2020
transaction
------------------------- -----------------------------------------------
f) Place of the London Stock Exchange (XLON)
transaction
------------------------- -----------------------------------------------
g) Additional N/A
Information
------------------------- -----------------------------------------------
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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