New Long Term Incentive Plan

RNS Number : 8545K

Science in Sport PLC

26 September 2016

 

26 September 2016

SCIENCE IN SPORT PLC

("SiS" or the "Company")

New Long Term Incentive Plan

Science in Sport plc (AIM: SIS), a leading sports nutrition company that develops, manufactures and markets sports nutrition products for professional athletes and sports enthusiasts, announces that, under the terms of the Company's long term incentive plan ("LTIP") the awards set out below were granted today in the form of nil cost options.

The awards will only vest on the achievement of certain revenue growth targets over the 3 years 2016, 2017 and 2018. None of the awards can be exercised until post 2018.

Following shareholder feedback the Company continues to be focussed on revenue growth. The current growth rate for the sports nutrition market is 8%, the share options will be awarded on a sliding scale for revenue growth between 15% and 30% per annum over the next 3 years.

This award replaces the existing 5 year LTIP, the 3 year revenue growth phase of this scheme vested in March 2016, and was then planned to be a profit plan for 2 years thereafter. Following the raising of additional capital in October 2015, the strategy has continued to be focused on revenue growth.

Name	Position	Number of shares subject to awards
John Clarke	Chairman	404,627
Stephen Moon	Chief Executive Officer	1,798,342
Elizabeth Lake	Finance Director	597,949
Ian Houghton	Commercial Director	494,544
Ashley Read	Marketing Director	404,627
Daniel Howarth	General Manager	353,149

The value of the shares subject to these awards is 200% of the basic salary of the Chairman and Chief Executive Officer, and 100% of the basic salary of the Finance Director and other senior management, calculated using the average price of the shares over the three business days prior to this announcement.

In addition to the LTIP awards set out above, John Clarke and Stephen Moon hold 221,360 and 1,685,006 options over ordinary shares respectively.

Immediately prior to these awards the Company's issued share capital was 43,216,191 Ordinary Shares and there were outstanding awards (vested and unvested) under the previous STIP and LTIP scheme over 2,152,892 Ordinary Shares.

This announcement contains inside information.

For further information:

Science in Sport PLC	[phone]
Stephen Moon, CEO
Elizabeth Lake, Finance Director
Cenkos Securities - NOMAD and Broker	[phone]
Bobbie Hilliam
Yellow Jersey PR - Financial PR
Felicity Winkles	[phone]
Harriet Jackson	[phone]

Notes for editors

About Science in Sport plc

Science in Sport plc is a leading sports nutrition company that develops, manufactures and markets sports nutrition products for professional athletes and sports enthusiasts. SiS is a strong brand in the elite athlete community - in the 2016 London Olympics, 34 medal-winning athletes or teams used SiS products (compared with 24 in 2012).

The SiS core product ranges include: SiS GO, comprising energy powders, isotonic gels, energy bars and hydration tablets; and SiS REGO, including protein-based recovery powders and bars. SiS products are sold in a range of retail channels, including specialist sport retailers, major grocers, high street retailers and e-commerce websites.

SiS is currently the official sports nutrition supplier to professional cycling teams Team SKY, Team Wiggins and USA Cycling. SiS is also the official sports nutrition partner to Liverpool FC and the official supplier of sports drinks and sports nutrition to the GB Rowing Team. In addition, Olympians Sir Chris Hoy MBE, and Katarina Johnson Thomson are brand ambassadors and Mark Cavendish is an Elite Sports Consultant to the brand.

SiS was founded in 1992 and is headquartered in Hatton Garden, London. Its manufacturing facility is in Nelson, Lancashire.

SiS shares are traded on the AIM market of the London Stock Exchange under the ticker symbol SIS.

For further information, please visit www.scienceinsport.com

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	John Clarke
2	Reason for the notification
a)	Position/Status:	Chairman
b)	Initial Notification/Amendment:	Initial Notification
3	Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor
a)	Name:	Science in Sport Plc
b)	LEI:	n/a
4.	Details of 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: Identification code:	Ordinary Shares of 10 pence each ISIN: GB00BBPV5329
b)	Nature of the transaction:	Grant of nil cost options under the Company's long term incentive plan
c)	Price(s) and volume(s):	Price(s)	Volume(s)
		Nil-cost	404,627
d)	Aggregated volume: Price:	n/a
e)	Date of the Transaction:	26 September 2016
f)	Place of the Transaction:	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Stephen Moon
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 participation, auction platform, auctioneer or auction monitor
a)	Name:	Science in Sport Plc
b)	LEI:	n/a
4.	Details of 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: Identification code:	Ordinary Shares of 10 pence each ISIN: GB00BBPV5329
b)	Nature of the transaction:	Grant of nil cost options under the Company's long term incentive plan
c)	Price(s) and volume(s):	Price(s)	Volume(s)
		Nil-cost	1,798,342
d)	Aggregated volume: Price:	n/a
e)	Date of the Transaction:	26 September 2016
f)	Place of the Transaction:	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Elizabeth Lake
2	Reason for the notification
a)	Position/Status:	Finance Director
b)	Initial Notification/Amendment:	Initial Notification
3	Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor
a)	Name:	Science in Sport Plc
b)	LEI:	n/a
4.	Details of 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: Identification code:	Ordinary Shares of 10 pence each ISIN: GB00BBPV5329
b)	Nature of the transaction:	Grant of nil cost options under the Company's long term incentive plan
c)	Price(s) and volume(s):	Price(s)	Volume(s)
		Nil-cost	597,949
d)	Aggregated volume: Price:	n/a
e)	Date of the Transaction:	26 September 2016
f)	Place of the Transaction:	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Ian Houghton
2	Reason for the notification
a)	Position/Status:	Commercial Director
b)	Initial Notification/Amendment:	Initial Notification
3	Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor
a)	Name:	Science in Sport Plc
b)	LEI:	n/a
4.	Details of 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: Identification code:	Ordinary Shares of 10 pence each ISIN: GB00BBPV5329
b)	Nature of the transaction:	Grant of nil cost options under the Company's long term incentive plan
c)	Price(s) and volume(s):	Price(s)	Volume(s)
		Nil-cost	494,544
d)	Aggregated volume: Price:	n/a
e)	Date of the Transaction:	26 September 2016
f)	Place of the Transaction:	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Ashley Read
2	Reason for the notification
a)	Position/Status:	Marketing Director
b)	Initial Notification/Amendment:	Initial Notification
3	Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor
a)	Name:	Science in Sport Plc
b)	LEI:	n/a
4.	Details of 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: Identification code:	Ordinary Shares of 10 pence each ISIN: GB00BBPV5329
b)	Nature of the transaction:	Grant of nil cost options under the Company's long term incentive plan
c)	Price(s) and volume(s):	Price(s)	Volume(s)
		Nil-cost	404,627
d)	Aggregated volume: Price:	n/a
e)	Date of the Transaction:	26 September 2016
f)	Place of the Transaction:	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Daniel Howarth
2	Reason for the notification
a)	Position/Status:	General Manager
b)	Initial Notification/Amendment:	Initial Notification
3	Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor
a)	Name:	Science in Sport Plc
b)	LEI:	n/a
4.	Details of 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: Identification code:	Ordinary Shares of 10 pence each ISIN: GB00BBPV5329
b)	Nature of the transaction:	Grant of nil cost options under the Company's long term incentive plan
c)	Price(s) and volume(s):	Price(s)	Volume(s)
		Nil-cost	353,149
d)	Aggregated volume: Price:	n/a
e)	Date of the Transaction:	26 September 2016
f)	Place of the Transaction:	Outside a trading venue

 

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