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: [phone]
Singer Capital Markets (Nominated Adviser / Broker)
Will Goode / Amanda Gray (Corporate Finance) Rachel Hayes (Corporate Broking)	Tel: [phone]
IFC Advisory (Financial PR / IR)
Graham Herring / Zach Cohen	Tel: [phone]

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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