Grant of Options, Exercise of Options & TVR

RNS Number : 6783G
React Group PLC
16 November 2022
 

 

REACT Group plc

("REACT" or the "Company")

 

Grant of Options, Exercise of Options & TVR

 

The Board of REACT (AIM: REAT), the leading specialist cleaning, hygiene and decontamination company, announces certain dealings in its shares as detailed below.

 

Grant of Options

 

On 15 November 2022, the Company granted 53,387,343 options over new ordinary shares of 0.25p each in the Company ("Options") to certain board members and employees, as detailed below:

 

Director

Role

Number of Options granted

Total number of Options over Ordinary Shares now held

Mark Braund

Executive Chairman

17,083,950

25,583,950

Shaun Doak

Chief Executive Officer

17,083,950

35,777,266

Andrea Pankhurst

Chief Financial Officer

12,101,131

17,578,169

Sam Hayward

Group Sales Director

7,118,312

7,118,312

 

The Options have an exercise price of 0.25p (equivalent to the nominal value of an Ordinary Share) and, once vested, are exercisable from the date two years after the date of grant up to five years after the date of the grant, subject to performance conditions set out below.

 

The Options vest subject to performance criteria whereby the average mid-market closing share price of the Company's Ordinary Shares in any consecutive ten-day period until 15 November 2027 remains above the defined levels, as follows:

 

Share price at or above

% of total vesting

Cumulative % of total vesting

2.0p

20%

20%

2.5p

20%

40%

3.0p

20%

60%

3.5p

20%

80%

4.0p

20%

100%

 

 

The Options granted represent 5.1% of the Company's current issued share capital. In total 95,695,078 Options are now outstanding, representing 9.1% of the Company's current issued share capital.

 

Exercise of Options

 

The Company also announces that that it has issued 7,975,816 ordinary shares of 0.25 pence each in the Company ("Ordinary Shares") pursuant to an exercise of options by Gillian Leates, previous Executive Chairman.

 

Application has been made to the London Stock Exchange for 7,975,816 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective on or around 8.00 a.m. on 22 November 2022.

 

Total Voting Rights

 

Following Admission, the Company's total issued share capital will be 1,057,648,507 Ordinary Shares.  The Company does not hold any shares in treasury. Therefore, the total number of voting rights in the Company will be 1,057,648,507.

 

This figure of 1,057,648,507 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

 

Further details are set out in the below notification, made in accordance with the requirements of the UK Market Abuse Regulation.    

 

For further information:

 

REACT Group Plc


Shaun Doak, Chief Executive Officer

Andrea Pankhurst, Chief Financial Officer

Mark Braund, Chairman

Tel: +44 (0) 1283 550 503

Singer Capital Markets

(Nominated Adviser / Broker)

 

Will Goode / Amanda Gray (Corporate Finance)

Rachel Hayes (Corporate Broking)

Tel: +44 (0) 207 496 3000

IFC Advisory

(Financial PR / IR)


Graham Herring / Zach Cohen

 

Tel: +44 (0) 20 3934 6630

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mark Braund

2

Reason for the notification

a)

Position/status

Executive Chairman

b)

 

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

REACT Group PLC

b)

LEI

213800H54C4GOFN7MO32

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 0.25 pence each

GB00BZ2JBG28

b)

Nature of the transaction

Grant of Options

c)

Price(s) and volume(s)

   Price(s)

Volume(s)

nil

17,083,950

 

d)

Aggregated information

- Aggregated volume

- Price


N/A - single transaction

e)

Date of the transaction

15 November 2022

f)

Place of the transaction

Off market

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Shaun Doak

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

REACT Group PLC

b)

LEI

213800H54C4GOFN7MO32

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 0.25 pence each

GB00BZ2JBG28

b)

Nature of the transaction

Grant of Options

c)

Price(s) and volume(s)

   Price(s)

Volume(s)

nil

17,083,950

 

d)

Aggregated information

- Aggregated volume

- Price


N/A - single transaction

e)

Date of the transaction

15 November 2022

f)

Place of the transaction

Off market

 

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Andrea Pankhurst

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

REACT Group PLC

b)

LEI

213800H54C4GOFN7MO32

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 0.25 pence each

GB00BZ2JBG28

b)

Nature of the transaction

Grant of Options

c)

Price(s) and volume(s)

   Price(s)

Volume(s)

nil

12,101,131

 

d)

Aggregated information

- Aggregated volume

- Price


N/A - single transaction

e)

Date of the transaction

15 November 2022

f)

Place of the transaction

Off market

 

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Sam Hayward

2

Reason for the notification

a)

Position/status

Group Sales Director

b)

 

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

REACT Group PLC

b)

LEI

213800H54C4GOFN7MO32

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 0.25 pence each

GB00BZ2JBG28

b)

Nature of the transaction

Grant of Options

c)

Price(s) and volume(s)

   Price(s)

Volume(s)

nil

7,118,312

 

d)

Aggregated information

- Aggregated volume

- Price


N/A - single transaction

e)

Date of the transaction

15 November 2022

f)

Place of the transaction

Off market

 

 

 

 

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React Group (REAT)
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