LTIP option awards and PDMR dealings

RNS Number : 8192N

Mirriad Advertising PLC

06 June 2022

 

6 June 2022

Mirriad Advertising plc

("Mirriad" or the "Company")

LTIP option awards and PDMR dealings

Mirriad Advertising plc, the leading in-content advertising company, announces that, under the terms of the Company's long-term incentive plan ("LTIP"), a total of 3,758,765 options over Ordinary Shares in the Company at an exercise price set at the previous day's market close of 21p (the "Options") were granted on 6 June 2022 to a director, senior managers and employees.

Director and PDMR option awards

Name and position	Number of shares subject to option
David Dorans, Chief Financial Officer (Director of the Company)	442,500
Mark Melvin, EVP North America (PDMR)	284,016
Miles Lewis, Chief Revenue Officer (PDMR)	209,000
Philip Mattimoe, Chief Technology Officer (PDMR)	321,750
Rajasekhar Parakkal, MD India (PDMR)	146,000
Phil McLauchlan, Chief Scientist (PDMR)	126,750
Tim Jones, Global Head of Research & Insights (PDMR)	116,210
Jamie Allen, Group Financial Controller & Company Secretary (PDMR)	79,500
Lateef Mirza, Director of Programme Management (PDMR)	82,500

The Company has granted 1,808,226 Options to senior managers who are either Directors or deemed PDMRs. These options will vest after two years on 6 June 2024 and will add to existing option awards, which were initially granted on 18^th May 2020 and will fully vest on 18^th May 2023.

Going forward, the Company's Remuneration Committee intends to grant options to senior managers annually.

Other senior managers and employee option awards

The Company has granted 468,182 Options to six existing senior managers, who are not regarded as PDMRs. These will also vest after two years on 6 June 2024 and will add to existing option grants, which were also initially granted on 18^th May 2020.

The Company has granted 858,000 Options to two new US-based senior managers, who are not regarded as PDMRs. These options will vest in equal annual installments on 6 June 2023, 2024 and 2025.

In continutation of the Company's policy to widen share option participation among its staff to incentivise and retain a broader group of employees, a total of 624,357 Options have been granted to employees of the Company in the UK and US. These employee options will vest in three annual instalments with the first vesting taking place 24 months after the date of grant and will fully vest by 6 June 2026.

Total options granted

The grant of 3,758,765 Options equates to 1.3% of the Company's existing issued share capital (the "ISC"). In total, following the grant of these Options, 27,164,907 options are now under grant but not exercised under the Mirriad Advertising plc LTIP scheme (the "Total Options"), which equates to 9.7% of the ISC. The weighted average price of the Total Options is approximately 18.9p .

The notifications below are made in accordance with the requirements of the Market Abuse Regulations.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Dorans
2	Reason for the notification
a)	Position / status	Chief Financial Officer (Director)
b)	Initial notification / amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mirriad Advertising plc
b)	LEI	213800ZKOK9GIME7HE62
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 Identification code	Ordinary shares   of £0.00001 each ISIN: GB00BF52QY14
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Exercise price 21p, volume 442,500
d)	Aggregated information - Aggregated volume - Price	442,500 £92,925
e)	Date of the transaction	6 June 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mark Melvin
2	Reason for the notification
a)	Position / status	EVP North America (PDMR)
b)	Initial notification / amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mirriad Advertising plc
b)	LEI	213800ZKOK9GIME7HE62
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 Identification code	Ordinary shares   of £0.00001 each ISIN: GB00BF52QY14
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Exercise price 21p, volume 284,016
d)	Aggregated information - Aggregated volume - Price	284,016 £69,643.36
e)	Date of the transaction	6 June 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Miles Lewis
2	Reason for the notification
a)	Position / status	Chief Revenue Officer (PDMR)
b)	Initial notification / amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mirriad Advertising plc
b)	LEI	213800ZKOK9GIME7HE62
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 Identification code	Ordinary shares   of £0.00001 each ISIN: GB00BF52QY14
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Exercise price 21p, volume 209,000
d)	Aggregated information - Aggregated volume - Price	209,000 £43,890
e)	Date of the transaction	6 June 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Philip Mattimoe
2	Reason for the notification
a)	Position / status	CTO (PDMR)
b)	Initial notification / amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mirriad Advertising plc
b)	LEI	213800ZKOK9GIME7HE62
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 Identification code	Ordinary shares   of £0.00001 each ISIN: GB00BF52QY14
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Exercise price 21p, volume 292,500
d)	Aggregated information - Aggregated volume - Price	321,750 £67,567.50
e)	Date of the transaction	6 June 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Rajasekhar Parakkal
2	Reason for the notification
a)	Position / status	MD India (PDMR)
b)	Initial notification / amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mirriad Advertising plc
b)	LEI	213800ZKOK9GIME7HE62
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 Identification code	Ordinary shares   of £0.00001 each ISIN: GB00BF52QY14
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Exercise price 21p, volume 146,000
d)	Aggregated information - Aggregated volume - Price	146,000 £30,660
e)	Date of the transaction	6 June 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Philip McLauchlan
2	Reason for the notification
a)	Position / status	Chief Scientist (PDMR)
b)	Initial notification / amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mirriad Advertising plc
b)	LEI	213800ZKOK9GIME7HE62
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 Identification code	Ordinary shares   of £0.00001 each ISIN: GB00BF52QY14
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Exercise price 21p, volume 126,750
d)	Aggregated information - Aggregated volume - Price	126,750 £26,617.50
e)	Date of the transaction	6 June 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Tim Jones
2	Reason for the notification
a)	Position / status	Global Head of Research & Insights (PDMR)
b)	Initial notification / amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mirriad Advertising plc
b)	LEI	213800ZKOK9GIME7HE62
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 Identification code	Ordinary shares   of £0.00001 each ISIN: GB00BF52QY14
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Exercise price 21p, volume 116,210
d)	Aggregated information - Aggregated volume - Price	116,210 £362,667
e)	Date of the transaction	6 June 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jamie Allen
2	Reason for the notification
a)	Position / status	Group Financial Controller & Company Secretary (PDMR)
b)	Initial notification / amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mirriad Advertising plc
b)	LEI	213800ZKOK9GIME7HE62
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 Identification code	Ordinary shares   of £0.00001 each ISIN: GB00BF52QY14
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Exercise price 21p, volume 79,500
d)	Aggregated information - Aggregated volume - Price	79,500 £16,695
e)	Date of the transaction	6 June 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Lateef Mirza
2	Reason for the notification
a)	Position / status	Director, Programme Management (PDMR)
b)	Initial notification / amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mirriad Advertising plc
b)	LEI	213800ZKOK9GIME7HE62
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 Identification code	Ordinary shares   of £0.00001 each ISIN: GB00BF52QY14
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Exercise price 21p, volume 82,500
d)	Aggregated information - Aggregated volume - Price	82,500 £17,325
e)	Date of the transaction	6 June 2022
f)	Place of the transaction	Outside a trading venue

ENDS

Enquiries:

For further information please visit www.mirriad.com or contact:

Mirriad Advertising plc

Stephan Beringer, Chief Executive Officer

David Dorans, Chief Financial Officer

Tel: [phone]

Financial Adviser, Nominated Adviser and Broker :

Panmure Gordon

Alina Vaskina / James Sinclair-Ford (Corporate Advisory)

Erik Anderson (Corporate Broking)

Tel: [phone]

Financial Communications:

Charlotte Street Partners

Tom Gillingham Tel: [phone]

Andrew Wilson Tel: [phone]

About Mirriad

Mirriad's award-winning solution unleashes new revenue for content producers and distributors by creating new advertising inventory in content. Our patented, AI and computer vision technology dynamically inserts products and innovative signage formats after content is produced. Mirriad's market-first solution seamlessly integrates with existing subscription and advertising models, and dramatically improves the viewer experience by limiting commercial interruptions. 

Mirriad currently operates in the US, Europe and China.

 

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