Grant of Share Options, PDMR Dealing

RNS Number : 6464G

Bidstack Group PLC

27 July 2021

 

27 July 2021

Bidstack Group Plc

("Bidstack" or the "Company")

Grant of Share Options

Bidstack Group plc (AIM: BIDS), the native in-game advertising group, announces that, as set out in the Circular published by the Company on 2 July 2021, on 26 July 2021 it granted 32,703,334 new share options ("New Options") to employees and certain members of the advisory committee under the terms of the Bidstack Group Plc Enterprise Management Incentive ("EMI") Share Option Scheme 2018 and the Bidstack Group Plc Unapproved Share Option Scheme 2018.  The New Options represent 3.51% of the enlarged issued share capital of the Company.

All of the New Options will be exercisable at a price of 2 pence per share except for certain of the New Options which have granted to members of the advisory committee which will be exercisable at 4 pence per share.  All the employees and advisers who have been granted New Options have agreed to surrender their existing options. Save for New Options granted to option holders who have surrendered existing options, where the exercise date applicable to New Options equivalent to their existing entitlements will be maintained, all of the New Options will be exercisable three years after the date of grant, save in usual circumstances including the Company being the subject of a takeover offer, and all of the New Options will expire ten years after the date of grant.

As stated on 2 July 2021, the Company proposes to adopt a new Long Term Incentive Plan ("LTIP") to incentivise the Company's founders, executive directors and other senior managers.  It is envisaged that LTIP awards will comprise approximately five per cent of the enlarged issued share capital of the Company and will be subject to performance criteria linked to clear financial objectives. LTIP awards are likely to be exercisable at nominal value from the third anniversary of the relevant award.

In addition a further five per cent of the enlarged issued share capital of the Company is envisaged to be made available to option holders subject to performance criteria requiring exceptional returns for the Company and its shareholders.

The Company's remuneration committee is considering appropriate performance criteria for these proposed options.  Further announcements will be made in due course.

The Company announces the following PDMR dealings in accordance with Article 19 of the Market Abuse Regulation:

FORM FOR NOTIFYING DEALINGS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Lewis Sherlock
2.	Reason for the notification
a)	Position/status	Chief Revenue Officer
b)	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Bidstack Group Plc
b)	LEI	213800Q47UWF61LMRR02
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 0.5 pence each
b)	Identification code	GB00BZ7M6059
c)	Nature of the transactions	Grant of Options
d)	Price(s) and volume(s)	Exercise price: 2 pence per share Volume: 3,000,000 options
e)	Aggregated information -  Aggregated volume -  Price	As for d) above
f)	Date of the transactions	26 July 2021
g)	Place of the transactions	Off market

- Ends -

Contacts:

Bidstack Group Plc James Draper, CEO	via Buchanan
SPARK Advisory Partners Limited (Nomad) Mark Brady / Neil Baldwin / James Keeshan	[phone]
Cenkos Securities Plc (Joint Broker) Michael Johnson / Dale Bellis (Sales) Giles Balleny (Corporate Finance)	[phone]  [phone] [phone]
Stifel Nicolaus Europe Limited (Joint Broker) Fred Walsh / Luisa Orsini Baroni	[phone]
Buchanan Communications Limited Chris Lane / Stephanie Watson / Kim van Beeck [e-mail]	[phone]

Notes to editors

About Bidstack

Bidstack is an advertising technology company which provides dynamic, targeted and automated native in-game advertising for the global video games industry across multiple platforms. Its proprietary technology is capable of inserting advertisements within video games.  Bidstack's customers are games publishers and developers (on the supply side), and advertising agencies, brands and media-buying platforms (on the demand side).

 

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