Share Incentive Scheme and Grants to Directors

RNS Number : 6183X

Brave Bison Group PLC

27 November 2017

 

27 November 2017

Brave Bison Group plc ("Brave Bison" or "the Company")

Share Incentive Scheme and Grants to Directors

Brave Bison Group plc (AIM: BBSN) announces that the Company has adopted a new long-term share incentive plan, in replacement of the Company's existing share option scheme.

RSU Plan

The new scheme provides for the grant of restricted stock units ("RSUs") to participants, which subject to vesting, shall entitle the participant to receive new ordinary shares of 0.1p in the Company ("Shares") upon exercise of the RSUs on a one-for-one basis. The total pool of RSUs shall be limited to 12.5 per cent. of the Company's issued ordinary share capital.

RSUs shall usually vest over a 3-year period from date of grant, subject only to the continued employment of the participant, and shall expire following a 10-year period. The RSU exercise price shall be determined, at the discretion of the Board, at the time of grant. The Company intends to grant RSUs to existing option-holders in replacement of their options under the Company's previous option scheme.

Grants to Directors

RSUs have today been granted by the remuneration committee to certain Directors as follows:

-     Claire Hungate, Chief Executive Officer, has been granted 28,695,461 RSUs. Each RSU may be exercised subject to vesting, at 0.1 pence per Share, and shall vest on a monthly straight-line basis over a 2-year period, starting on 1 August 2017 (being Claire's commencement date with the Company).

-     Paul Campbell-White, Chief Financial Officer, has been granted 5,739,092 RSUs. Each RSU may be exercised, subject to vesting, at 0.1 pence per Share, and shall vest on a monthly straight-line basis over a 3-year period, starting on 26 October 2017 (being Paul's commencement date with the Company).

Related Party Transaction

The grants of the RSUs to Claire Hungate and Paul Campbell-White comprise a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies.  The independent directors of Brave Bison (being Sir Robin Miller, Paul Marshall and Marc Cranmer), having consulted with the Company's Nominated Adviser, Stockdale Securities, consider that the grants of the RSUs are fair and reasonable insofar as the shareholders of the Company are concerned.

For further information, contact:

Brave Bison Group plc                                   Tel: [phone]

Claire Hungate, Chief Executive Officer

Stockdale Securities                                       Tel: [phone]

Richard Johnson / Andy Crossley

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.             

About Brave Bison

Brave Bison is an independent digital media and social video broadcaster, proudly working with some of the biggest brands and most followed YouTube and Facebook talent in the world. Clients include P&G, Shell, PGA Tour, Paramount and Google.

Brave Bison makes it simple for content owners, creators, brands, publishers and platforms to unlock the value of online video, whether on a licensed, ad-funded, direct to consumer or paid placement basis.

The business is based in two regions - Europe, with headquarters in London; and APAC, with offices in Singapore.

 

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