TIDMSAL
RNS Number : 6931D
SpaceandPeople PLC
30 June 2021
30 June 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
SpaceandPeople PLC
("SpaceandPeople" or the "Company")
Grant and Surrender of Options
1. Grant of New Options
SpaceandPeople (AIM: SAL) the retail, promotional and brand
experience specialist, announces that it has today granted options
(the "New Options") over a total of 855,000 ordinary shares of 1
pence each in the Company ("Ordinary Shares") under its existing
share option scheme (the "Scheme").
The New Options are exercisable at a price of 12.5 pence per
share, being the closing share price on the day immediately
preceding the date of grant of the New Options and will vest no
earlier than 30 June 2024. The New Options expire on the tenth
anniversary of the date of grant.
The New Options become exercisable on the third anniversary of
grant, subject to continued employment and, to the extent specified
in the table below, the satisfaction of certain performance
conditions. These performance conditions (which have been set by
the Remuneration Committee of the Company) relate to the
achievement of specified financial targets that will be assessed
over the year to 31 December 2021.
Details of the above grants (including confirmation of the New
Options granted to the Company's executive directors) are as
follows:
No. of Ordinary Shares over which New
Options granted
Name Role Subject to Not subject Total
performance to performance
conditions conditions
-------------- --------------------- -------------- ---------------- --------
Chief Executive
Nancy Cullen Officer 12,500 12,500 25,000
-------------- --------------------- -------------- ---------------- --------
Chief Financial
Gregor Director & Company
Dunlay Secretary 68,750 68,750 137,500
-------------- --------------------- -------------- ---------------- --------
Andrew Chief Operating
Keiller Officer 68,750 68,750 137,500
-------------- --------------------- -------------- ---------------- --------
Various other employees 135,000 420,000 555,000
------------------------------------- -------------- ---------------- --------
Total 285,000 570,000 855,000
2. Surrender of Existing Options
SpaceandPeople also announces that, today, Nancy Cullen, Gregor
Dunlay and Andrew Keiller have surrendered, for no consideration,
the following options over Ordinary Shares (the "Surrendered
Options") that were previously granted to them pursuant to the
terms of the Scheme.
Name Role Number of Date of grant Exercise price
Ordinary Shares of Surrendered payable per
over which Option Ordinary Share
Surrendered
Option subsisted
------------- -------------------- ------------------ ---------------- ----------------
Nancy Cullen Chief Executive 300,000 1 July 2019 GBP0.12
Officer
------------- -------------------- ------------------ ---------------- ----------------
Gregor Chief Financial 300,000 1 July 2019 GBP0.12
Dunlay Director & Company
Secretary
------------- -------------------- ------------------ ---------------- ----------------
Andrew Chief Operating 50,000 1 July 2019 GBP0.12
Keiller Officer
------------- -------------------- ------------------ ---------------- ----------------
100,000 1 October 2019 GBP0.135
------------- -------------------- ------------------ ---------------- ----------------
The above surrenders have been made in recognition of the fact
that the performance conditions that needed to be satisfied in
order for the relevant entitlements to vest are highly unlikely to
be met. As a consequence, the relevant directors have elected to
give up their rights in order to create additional "headroom" under
the Scheme's dilution limits, thereby enabling options to be
granted to a broader selection of the Company's employees. For the
avoidance of doubt, the New Options detailed above have not been
granted in consideration of this surrender.
3. Details of resultant holdings
Details of the directors' resultant holdings of Ordinary Shares
and options over Ordinary Shares are as follows:
Name Role Total No. Ordinary Total No. Ordinary
Shares under Option Shares held
---------------- --------------------- --------------------- -------------------
Chief Executive
Nancy Cullen Officer 125,000 1,333,000
---------------- --------------------- --------------------- -------------------
Chief Financial
Director & Company
Gregor Dunlay Secretary 237,500 10,000
---------------- --------------------- --------------------- -------------------
Andrew Keiller Chief Operating 162,500 -
Officer
The total number of Ordinary Shares over which options have been
granted is 1,405,818 representing 7.2% per cent. of the Company's
existing issued share capital.
Enquiries
SpaceandPeople plc
Gregor Dunlay, Chief Financial Officer 0845 241 8215
Zeus Capital Limited (Nominated Adviser and Broker)
David Foreman, Jamie Peel, Rishi Majithia 020 3829 5000
The following notifications are intended to satisfy the
Company's obligations under Article 19(3) of EU Regulation No
596/2014 (the Market Abuse Regulation).
1 Details of the person discharging managerial responsibilities/person
closely associated
----------------------------------------------------------------------------------
a) Name 1. Nancy Cullen
2. Gregor Dunlay
3. Andrew Keiller
---- -------------------------- ------------------------------------------------------
2 Reason for the notification
---- ----------------------------------------------------------------------------------
a) Position/status 1. Chief Executive Officer
2. Chief Financial Officer & Company Secretary
3. Chief Operating Officer
---- -------------------------- ------------------------------------------------------
b) Initial notification/ Initial Notification
Amendment
---- -------------------------- ------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---- ----------------------------------------------------------------------------------
a) Name SpaceandPeople PLC
---- -------------------------- ------------------------------------------------------
b) LEI 21380026UDE3LKFSDP68
---- -------------------------- ------------------------------------------------------
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 Ordinary shares of 1 pence each ("Shares")
the financial
instrument, type
of instrument
----
Identification ISIN: GB00B058DS79
code
---- -------------------------- ------------------------------------------------------
b) Nature of the Grant of options over Ordinary Shares pursuant
transaction to the SpaceandPeople plc 2012 Enterprise Management
Incentive Scheme
---- -------------------------- ------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------
12.5 pence (exercise
1. price) 25,000
--- --------------------- ----------
12.5 pence (exercise
2. price) 137,500
--- --------------------- ----------
12.5 pence (exercise
3. price) 137,500
--- --------------------- ----------
---- -------------------------- ------------------------------------------------------
d) Aggregated information
* Aggregated volume
1. N/A single transaction
2. N/A single transaction
* Price 3. N/A single transaction
---- -------------------------- ------------------------------------------------------
e) Date of the transaction 2021-06-30
---- -------------------------- ------------------------------------------------------
f) Place of the transaction Off market
---- -------------------------- ------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
--------------------------------------------------------------------------------
a) Name 1. Nancy Cullen
2. Gregor Dunlay
3. Andrew Keiller
---- -------------------------- ----------------------------------------------------
2 Reason for the notification
---- --------------------------------------------------------------------------------
a) Position/status 1. Chief Executive Officer
2. Chief Financial Officer & Company Secretary
3. Chief Operating Officer
---- -------------------------- ----------------------------------------------------
b) Initial notification/ Initial Notification
Amendment
---- -------------------------- ----------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---- --------------------------------------------------------------------------------
a) Name SpaceandPeople PLC
---- -------------------------- ----------------------------------------------------
b) LEI 21380026UDE3LKFSDP68
---- -------------------------- ----------------------------------------------------
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 Ordinary shares of 1 pence each ("Shares")
the financial
instrument, type
of instrument
----
Identification ISIN: GB00B058DS79
code
---- -------------------------- ----------------------------------------------------
b) Nature of the Surrender of options over Ordinary Shares granted
transaction pursuant to the SpaceandPeople plc 2012 Enterprise
Management Incentive Scheme
---- -------------------------- ----------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------
1. Nil 300,000
--- --------- ----------
2. Nil 300,000
--- --------- ----------
3. Nil 150,000
--- --------- ----------
---- -------------------------- ----------------------------------------------------
d) Aggregated information
* Aggregated volume
1. N/A single transaction
2. N/A single transaction
* Price 3. N/A single transaction
---- -------------------------- ----------------------------------------------------
e) Date of the transaction 2021-06-30
---- -------------------------- ----------------------------------------------------
f) Place of the transaction Off market
---- -------------------------- ----------------------------------------------------
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