TIDMSUMO
RNS Number : 3654U
Sumo Group PLC
01 April 2021
1 April 2021
Sumo Group plc
("Sumo Group" or the "Company")
Exercise of Share Options and Directors' Dealings
Sumo Group announces that Carl Cavers, Chief Executive Officer,
David Wilton, Chief Financial Officer and Paul Porter, Chief
Operating Officer have exercised options to acquire further
ordinary shares of 1 penny each in the Company ("Ordinary Shares")
pursuant to the terms of the Company's Long-Term Incentive Plan
("LTIP"). These options were awarded in March 2018 and vested on 31
March 2021 based on the total shareholder return and earnings per
share performance conditions measured over the Company's financial
years 2018, 2019 and 2020.
Following the exercise of these options each Director has sold
Ordinary Shares, in part to meet the tax liability arising from the
exercise. This sale took place on 31 March 2021 at a price of
351.6889 pence per Ordinary Share and the shares were purchased by
the Company's Employee Benefit Trust ("EBT").
Details of the transactions undertaken are set out below:
Direct and
Resultant indirect interests
direct and in Ordinary
No of Ordinary indirect interests Shares held
Shares over in Ordinary as a percentage
which options Shares following of the Company's
have been No of Ordinary the exercise issued ordinary
Director exercised Shares sold and sale share capital
Carl Cavers 752,522 248,319 5,155,543 3.01%
--------------- --------------- -------------------- --------------------
David Wilton 554,985 195,042 696,876 0.40%
--------------- --------------- -------------------- --------------------
Paul Porter 547,732 391,949 4,660,931 2.72%
--------------- --------------- -------------------- --------------------
Subsequent to this exercise and sale, David Wilton transferred
359,943 Ordinary Shares to accounts held jointly with his wife, and
113,736 of such Ordinary Shares became subject to a trust in favour
of other family members.
Employee option exercise and sale
Options granted to a number of other participants in the LTIP
also vested and were exercised on 31 March and 490,436 Ordinary
Shares necessary to satisfy these exercises were issued to the EBT
on the same day. The EBT has also purchased shares from these
individuals, at the price of 351.6889 pence per Ordinary Share,
where they wished to sell to meet tax liabilities or otherwise.
EBT
Following these transactions, the EBT holds 1,554,077 Ordinary
Shares to be held on the terms of the trust to satisfy the vesting
of options under the LTIP in the future.
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation (as retained in UK law), provides
further detail.
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 Carl Cavers
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
a) Name Sumo Group plc
b) LEI 213800LTZXJCG5QKIM14
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, Ordinary shares of GBP0.01
type of instrument
Identification code SUMO
b) Nature of transaction Option exercise
c) Price(s) and volume(s) Price Volume
nil 752,522
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 31 March 2021
f) Place of the transaction Private transaction
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Carl Cavers
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
a) Name Sumo Group plc
b) LEI 213800LTZXJCG5QKIM14
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, Ordinary shares of GBP0.01
type of instrument
Identification code SUMO
b) Nature of transaction Sale of shares to meet
tax liability among other
things
c) Price(s) and volume(s) Price Volume
351.6889p 248,319
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 31 March 2021
f) Place of the transaction AIM
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name David Wilton
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
a) Name Sumo Group plc
b) LEI 213800LTZXJCG5QKIM14
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, Ordinary shares of GBP0.01
type of instrument
Identification code SUMO
b) Nature of transaction Option exercise
c) Price(s) and volume(s) Price Volume
nil 554,985
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 31 March 2021
f) Place of the transaction Private transaction
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name David Wilton
Helen Wilton
George Wilton
2 Reason for the notification
a) Position/status Chief Financial Officer
PDMR's PCAs
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
a) Name Sumo Group plc
b) LEI 213800LTZXJCG5QKIM14
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 Ordinary shares of GBP0.01
financial instrument,
type of instrument
Identification code SUMO
b) Nature of transaction Name of Nature of transaction Price Volume
c) Price(s) and volume(s) PDMR/PCA
Sale of shares
i. David to meet tax liability
Wilton among other things 351.6889p 195,042
------------------------- ---------- --------
Transfer of shares
into joint accounts
with Helen Wilton
(direct interest
ii. David becomes jointly
Wilton held) 351.6889 359,943
------------------------- ---------- --------
Creation of trust
over direct interest
in certain shares
jointly held with
Helen Wilton in
favour of other
family members
including George
Wilton (disposal
iii. David of beneficial
Wilton interest) 351.6889 113,736
------------------------- ---------- --------
Acquisition of
direct interest
in shares in joint
iv. Helen accounts with
Wilton David Wilton 351.6889 359,943
------------------------- ---------- --------
Creation of trust
over direct interest
in shares jointly
held with David
Wilton in favour
of other family
members (disposal
v. Helen of beneficial
Wilton interest) 351.6889 113,736
------------------------- ---------- --------
Acquisition of
beneficial interest
vi. George in shares pursuant
Wilton to a trust arrangement 351.6889 113,736
------------------------- ---------- --------
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 31 March 2021
f) Place of the transaction AIM for transaction 4.b.i, private transactions
for 4.b.ii - vi
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Paul Porter
2 Reason for the notification
a) Position/status Chief Operating Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
a) Name Sumo Group plc
b) LEI 213800LTZXJCG5QKIM14
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, Ordinary shares of GBP0.01
type of instrument
Identification code SUMO
b) Nature of transaction Option exercise
c) Price(s) and volume(s) Price Volume
nil 547,732
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 31 March 2021
f) Place of the transaction Private transaction
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Paul Porter
2 Reason for the notification
a) Position/status Chief Operating Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
a) Name Sumo Group plc
b) LEI 213800LTZXJCG5QKIM14
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, Ordinary shares of GBP0.01
type of instrument
Identification code SUMO
b) Nature of transaction Sale of shares to meet
tax liability among other
things
c) Price(s) and volume(s) Price Volume
351.6889p 391,949
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 31 March 2021
f) Place of the transaction AIM
Enquiries:
Sumo Group plc Via Belvedere Communications
Carl Cavers, Chief Executive Officer Tel: +44(0) 7715 769 078
David Wilton, Chief Financial Officer
Zeus Capital Limited (Nominated Adviser
& Broker)
Nick Cowles / Andrew Jones Tel: +44 (0) 161 831 1512
Ben Robertson / John Goold Tel: +44 (0) 203 829 5000
Investec Corporate & Investment Banking
(Joint Broker)
David Flin Tel: +44(0)207 597 5970
Belvedere Communications Limited
Cat Valentine (cvalentine@belvederepr.com) Tel: +44 (0) 7715 769 078
Keeley Clarke (kclarke@belvederepr.com) Tel: +44 (0) 7967 816 525
Llew Angus (langus@belvederepr.com) Tel: +44 (0) 7407 023 147
SumoPR@belvederepr.com
About Sumo Group - www.sumogroupplc.com
Sumo Group's businesses provide acclaimed development, design
and publishing services to the video games and entertainment
industries from studios in the UK, India, Canada, the US, and
Poland.
Sumo Digital, as the Group's primary business, is one of the
UK's largest independent developers of AAA-rated video games,
having studios in Sheffield, Newcastle, Nottingham, Leamington Spa,
Warrington and Pune, India. The business has acquired three studios
since IPO, which operate under their own names, BAFTA award-winning
The Chinese Room in Brighton, Red Kite Games in Leeds, Lab42 in
Leamington Spa and PixelAnt Games in Wroclaw, Poland. Sumo Digital
provides turnkey and co-development solutions to a global blue-chip
client base.
Pipeworks is an innovative, well-established, and respected US
video games developer based in Eugene, Oregon. It provides full
development, co-development, and live operations to premier video
game publishers and other partners.
Atomhawk is a multi-award-winning visual design company, with
studios in Newcastle and in Vancouver (Canada), servicing the
games, film, and visual effects industries.
Secret Mode is a video games publisher, focused on delivering
fresh and new gaming experiences to players and building expansive
and fulfilling communities around those games. It will publish
titles developed within Sumo Group and also by independent
developers.
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END
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