TIDMLPA

RNS Number : 5994Q

LPA Group PLC

02 March 2021

LPA GROUP PLC

("LPA" or the "Group")

Grant of Share Options

LPA Group Plc, the high reliability LED lighting, electronic and electro-mechanical system designer and 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 and other employees of the Group (the "Award Holders"), as follows:

 
 Director           Position    Number of   Exercise 
                                 Options     Price 
 Paul Curtis        CEO         30,000      83.50p 
                   ----------  ----------  --------- 
 Chris Buckenham    CFO         20,000      83.50p 
                   ----------  ----------  --------- 
 Subtotal                       50,000      83.50p 
                               ----------  --------- 
 
 Other employees                30,000      83.50p 
                               ----------  --------- 
 Total Awards                   80,000      83.50p 
                               ----------  --------- 
 

Under the terms of the Performance Share Plan, the Share Options may be exercised from 2 March 2024 until 1 March 2031. 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 
                    --------------- 
 185,000             49.00p 
                    --------------- 
 150,000             104.83p 
                    --------------- 
 255,000             109.33p 
                    --------------- 
 120,000             63.17p 
                    --------------- 
 80,000              83.50p 
                    --------------- 
 1,330,000 
                    --------------- 
 

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                01799 512844 
 Paul Curtis                           CEO                     01799 512858 
 Chris Buckenham                       CFO                     01799 512859 
 
 Cairn Financial Advisers              (Nominated Adviser)     020 7213 0880 
 James Caithie / Liam Murray 
  Ludovico Lazzaretti 
 finnCap                               (Broker)                020 7220 0500 
 Ed Frisby / Tim Harper (Corporate 
  Finance) 
  Tim Redfern / Charlotte Sutcliffe 
  (ECM) 
 
 
 1     Details of the person discharging managerial responsibilities/person 
        closely associated 
 a)    Name                          a) Paul Curtis 
                                      b) Chris Buckenham 
      -----------------------  ------------------------------------------------- 
 2     Reason for the notification 
      -------------------------------------------------------------------------- 
 a)    Position/status               a) CEO 
                                      b) CFO 
      -----------------------  ------------------------------------------------- 
 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 
                                                  83.50p               b) 20,000 
                                            b) Exercise price: 
                                                 8 3.50 p 
      -----------------------  -------------------------------  ---------------- 
       Aggregated 
 d)     information 
   - Aggregated 
    volume 
   - Price                       50,000 
                                  83.50p 
 ----------------------------  ------------------------------------------------- 
 e)    Date of the              2 March 2021 
        transaction 
      -----------------------  ------------------------------------------------- 
 f)    Place of the             London Stock Exchange (XLON) 
        transaction 
      -----------------------  ------------------------------------------------- 
 g)    Additional               N/A 
        Information 
      -----------------------  ------------------------------------------------- 
 

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March 02, 2021 02:00 ET (07:00 GMT)