Grant of Options / PDMR Notification

RNS Number : 7901L

AO World plc

21 July 2017

 

AO World plc

Share Option Awards / PDMR Notification

On 21 July 2017 AO World plc ("the Company") granted nil-cost options over a total of 3,699,449 ordinary shares* to Executive Directors and members of its senior management population under the terms of the AO Performance Share Plan which was approved by shareholders of the Company on 25 February 2014 ("PSP") as part of our normal remuneration policy. 

The Company has received notification from nine of its "persons discharging managerial responsibilities" pursuant to article 19 of regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse ("Market Abuse Regulation" or "MAR"), on 21 July 2017, who were granted conditional awards in respect of the following number of ordinary shares of 0.25p, under the plan in accordance with the rules.

Name	Position	Number of shares under options granted pursuant to the 2017 PSP Award*/**	Total share options outstanding ***
Steve Caunce	Chief Executive Officer	567,227	1,016,895
Mark Higgins	Chief Financial Officer	857,143	1,637,743
David Ashwell	MD AO Logistics	168,067	1,419,912
John Coulter	MD AO Retail	168,067	1,072,179
Daniel Emmett	MD AO Services	168,067	1,057,828
Andrew Kirkcaldy	Group Brand Director	142,857	1,351,551
David Lawson	MD AO Retail	168,067	1,052,068
Kevin Monk	MD AO Europe	168,067	1,376,761
Adam Warne	Group IT Director	142,857	590,600

* The amounts shown above represent the maximum possible number of ordinary shares that may be granted to the above named participants under the 2017 PSP Award.

**The price used to calculate the maximum number of ordinary shares under the 2017 PSP Award was £1.19, being the closing price of the Company's shares on the main market of the London Stock Exchange on 20 July 2017, the last dealing day prior to the grant of the 2017 PSP Awards.

***includes share options pursuant to the previous awards granted under the PSP granted on 30 June 2015 and 21 July 2016 and, in the case of the PDMRs other than the Executive Directors, awards granted under the Employee Reward Plan on 21 July 2016, plus options under the AO Sharesave scheme.

The 2017 PSP Awards are subject to three performance conditions linked to Relative Total Shareholder Return, growth in the Group Adjusted EBITDA and Sales growth and have equal weighting.      

The performance conditions are measured over a 3 year period ending on 31 March 2020 and are expected to vest in July 2020.

For the purposes of article 19 of MAR, the above transactions took place in the United Kingdom, with a grant date of 21 July 2017 and the Directors being notified on 21 July 2017. 

Enquiries:

AO World plc

Julie Finnemore

Company Secretary

Tel: [phone]

Tulchan Communications

Susanna Voyle

Michelle Clarke

Tel: [phone]

 

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