TIDMSIS
RNS Number : 6874A
Science in Sport PLC
01 October 2020
1(st) October 2020
SCIENCE IN SPORT PLC
("SiS" or the "Company" or "Group")
Grant of Options
Science in Sport plc (AIM: SIS), the premium performance
nutrition company serving elite athletes, sports enthusiasts and
the gym lifestyle community, announces that, under the terms of the
Company's long term incentive plan ("LTIP") and short term
incentive plan ("STIP") the Board has approved the award of and
granted nil cost options over 5,093,586 ordinary shares of 10 pence
each ("Ordinary Shares"). The LTIP and STIP awards are in respect
of the Company's performance during 2019 and in lieu of cash
bonuses.
Short term incentive plan
Under the STIP for the 2019 financial year options have now been
granted over 1,889,085 ordinary shares (the "STIP 2019 Awards")
based on achievement of performance targets for 2019. There are no
outstanding performance conditions in respect of the STIP 2019
Awards which are now exercisable. The STIP 2019 Awards were made to
certain directors and senior employees of the Group in lieu of any
cash bonus in accordance with previous awards. Details of the STIP
2019 Awards to PDMRs are set out below.
Long term incentive plan
Under the terms of the LTIP and based on achievement of
performance targets for the 2019 financial year, options have been
granted over 3,204,501 Ordinary Shares (the "LTIP 2019 Awards").
The LTIP 2019 Awards vest and become exercisable in 2022. The value
of the share options is maximised at the Hurdle Rate, which is 20%
above the five day average market price following release of the
2019 financial results, being 40 pence ( the "Hurdle Rate").
Under the LTIP individuals are also awarded shares in SIS
(Science In Sport) Ltd, a wholly owned subsidiary of the Company
('Growth Shares'), which are exchangeable for Ordinary Shares.
If, at the time of exercise, the Company's share price is less
than or equal to the Hurdle Rate, 3,204,501 options under the LTIP
will be exercisable in full and issued at the prevailing share
price, and no Growth Shares will be exchanged.
If, at the time of exercise, the Company's share price is above
the Hurdle Rate, options under the LTIP are exchangeable in full at
the Hurdle Rate. In addition, awardees may exchange Growth Shares
whose value is the share price appreciation over the Hurdle Rate.
The value of the Growth Share (i.e., the appreciation over the
Hurdle Rate) can be exchanged for the equivalent value of Ordinary
Shares in SIS plc. Below the Hurdle Rate the Growth Shares have no
value and will fall away.
In all cases, a maximum of 3,204,501 new Ordinary Shares will
become issuable pursuant to the LTIP and awards of Growth
Shares.
Details of the STIP and LTIP 2019 Awards to PDMRs are set out
below:
Share option awards made to PDMRs:
Name Position 2019 LTIP 2019 STIP
Awards Awards
Chief Executive
Stephen Moon Officer 1,555,612 1,108,070
Chief Financial
James Simpson Officer nil 49,805
Total 1,555,612 1,157,875
The FCA notification, made in accordance with the requirements
of the EU Market Abuse Regulation is appended below.
For further information:
Science in Sport plc
Stephen Moon, Chief Executive Officer
James Simpson, Chief Financial
Officer +44 (0) 20 7400 3700
Liberum
Nominated adviser and broker
Bidhi Bhoma
James Greenwood
William Hall +44 (0) 20 3100 2000
Buchanan Communications +44 (0) 20 7466 5000
Financial PR ScienceInSport@buchanan.uk.com
Mark Court
Vicky Hayns
Tilly Abraham
About Science in Sport plc
Science in Sport plc is a leading sports nutrition business that
develops, manufactures and markets innovative nutrition products
for professional athletes, sports and fitness enthusiasts and the
gym lifestyle community. The Company has two highly regarded
brands: PhD Nutrition, a premium protein brand targeting gym
lifestyle and sports enthusiasts, and SiS, a leading brand among
elite athletes and professional sports teams.
The two brands are sold internationally through multiple retail
channels, both traditional and online, including major supermarkets
and high street chains, specialist sports retailers and e-commerce
sites including Amazon and the brands' websites. They enable the
Company to address the full breadth of the performance nutrition
market currently estimated at approximately GBP10 billion
worldwide.
PhD is one of the UK's leading protein brands with a reputation
for high quality and product innovation. The brand has grown
rapidly, based on its core protein powders, since its launch in
2005. The range now comprises powders, bars, flapjacks, drinks and
other products including the high protein, low sugar range, PhD
Smart. PhD brand ambassadors include endurance athlete Ross Edgley,
WBA international champion Jordan Gill, Team GB Olympic sprinter
Asha Philip and leading fitness influencer Obi Vincent. The PhD
brand is an official partner to the Tough Mudder Challenge and Race
Series.
SiS, founded in 1992, has a core range comprising gels, powders
and bars focused on energy, hydration and endurance. SiS is the
official sports nutrition supplier to many professional teams and
organisations including Team INEOS Cycling, Team Ineos UK
(America's Cup Team), British Cycling, Cycling Australia, USA
Cycling and USA Triathlon. SiS supplies more than 100 professional
football clubs in the UK, Europe and USA, and is an official
partner Manchester United Football. SiS brand ambassadors include
Olympians Sir Chris Hoy MBE, Mark Cavendish MBE and Adam Peaty
MBE.
Science in Sport is headquartered in London. Its shares joined
the AIM market of the London Stock Exchange in August 2013 and
trade under the ticker symbol SIS.
For further information, please visit www.scienceinsport.com
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Stephen Moon
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2. Reason for the notification
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a) Position/status: Chief Executive Officer
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b) Initial notification/Amendment: Initial Notification
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3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
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a) Name: Science In Sport plc
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b) LEI: 213800FWYWBJFJPPJ981
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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
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a) Description of the financial instrument, type of instrument:
Ordinary shares of 10p each.
Identification code: GB00BBPV5329
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b) Nature of the transaction: Grant of nil-cost options to
acquire ordinary shares of 10p each under the Company's
Long Term Incentive Plan and Short Term Incentive Plan
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c) Price(s) and volume(s): Price(s) Volume(s) Scheme
Nil cost 1,555,612 LTIP
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Nil cost 1,108,070 STIP
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d) Aggregated information: Options over 2,663,682 Ordinary
Shares of 10p each
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e) Date of the transaction: 30 September 2020
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f) Place of the transaction: Off-market transaction
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1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: James Simpson
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2. Reason for the notification
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a) Position/status: Chief Financial Officer
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b) Initial notification/Amendment: Initial Notification
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3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
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a) Name: Science In Sport plc
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b) LEI: 213800FWYWBJFJPPJ981
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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 the financial instrument, type of instrument:
Ordinary shares of 10p each.
Identification code: GB00BBPV5329
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b) Nature of the transaction: Grant of nil-cost options to
acquire ordinary shares of 10p each under the Company's
Short Term Incentive Plan
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c) Price(s) and volume(s): Price(s) Volume(s)
Nil cost 49,805
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d) Aggregated information: N/A
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e) Date of the transaction: 30 September 2020
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f) Place of the transaction: Off-market transaction
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