Grant of Restricted Stock Units

RNS Number : 7724Z

Boku Inc

05 September 2018

 

5 September 2018

Boku, Inc.

("Boku" or the "Company" and, together with its subsidiaries, the "Group")

Grant of Performance-based Restricted Stock Units and Restricted Stock Units

The Company announces that after the close of trading on 4 September 2018 (the "Grant Date") it granted 1,766,400 performance-based restricted stock units ("PRSUs") and 2,569,889 restricted stock units ("RSUs") over common shares of $0.0001 each in the Company ("Common Shares") to executive directors, executives, employees and non-executive directors, under the Company's 2017 Equity Incentive Plan.

In its 2017 Annual Report, Boku stated that the Company's Remuneration Committee sees long term incentives as an important part of the remuneration of executives, to align them with shareholders and reward them for strong performance, and that it intended to make awards to executives during the first half of 2018, and on an annual basis thereafter. 

PRSUs were granted to executive directors and executives of the Company as set out in the table below:

Name	Role	PRSUs
Jon Prideaux	Chief Executive Officer	350,000
Stuart Neal	Chief Financial Officer	400,000
Adam Lee	Chief Revenue Officer	260,000
Mike Cahill	Chief Operating Officer	300,000
Total:		1,310,000

The PRSUs granted to the executives and executive directors will vest over Common Shares three years from the award date subject to the meeting of an adjusted EBITDA per share performance target for the year ending 31 December 2020. The PRSUs will expire five years from the Grant Date.

A further 456,400 PRSUs and 2,441,566 RSUs will also be granted to other employees across the Group. The PRSUs are subject to similar performance conditions and vesting date as the awards to executives. One third of the RSUs will vest on the first trading day in April 2019 with the balance vesting over the following two years.

Boku will also grant RSUs to the non-executive directors of the Company to support retention and align the interests of these directors with those of the Company's shareholders. Richard Hargreaves, Keith Butcher and Mark Britto have been granted 38,462, 38,462 and 51,399 RSUs, respectively. The RSUs granted to the non-executive directors will vest on 20 November 2020, subject to each non-executive director having attended (in accordance with the Company's certificate of incorporation and bylaws) eighty percent or more of the board meetings which take place from the Grant Date to (and including) 20 November 2020. The RSUs will expire five years from their Grant Date.

Further details of the grants are disclosed in the table below.

Enquiries:

Boku, Inc. Jon Prideaux, Chief Executive Officer Stuart Neal, Chief Financial Officer	[phone]
Peel Hunt LLP (Nominated Adviser and Broker) Edward Knight / Nick Prowting	[phone]
IFC Advisory Limited (Financial PR & IR) Tim Metcalfe / Heather Armstrong / Florence Chandler	[phone]

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Jon Prideaux
2.	Reason for the notification
a.	Position/status	Chief Executive Officer and executive director
b.	Initial notification / Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Boku, Inc.
b.	LEI	549300Y4P2ZPFKCZ0C60
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	Performance-based restricted stock units over Common Shares of $0.0001 each USU7744C1063
b.	Nature of the transaction	Grant of restricted stock units
c.	Price(s) and volume(s)	Price(s) Volume(s) 182 pence 350,000
d.	Aggregated information · Aggregated volume · Price	N/A - single transaction
e.	Date of the transaction	4 September 2018
f.	Place of the transaction	London Stock Exchange (XLON); AIM

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Stuart Neal
2.	Reason for the notification
a.	Position/status	Chief Financial Officer and executive director
b.	Initial notification / Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Boku, Inc.
b.	LEI	549300Y4P2ZPFKCZ0C60
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	Performance-based restricted stock units over Common Shares of $0.0001 each USU7744C1063
b.	Nature of the transaction	Grant of restricted stock units
c.	Price(s) and volume(s)	Price(s) Volume(s) 182 pence 400,000
d.	Aggregated information · Aggregated volume · Price	N/A - single transaction
e.	Date of the transaction	4 September 2018
f.	Place of the transaction	London Stock Exchange (XLON); AIM

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Adam Lee
2.	Reason for the notification
a.	Position/status	Chief Revenue Officer
b.	Initial notification / Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Boku, Inc.
b.	LEI	549300Y4P2ZPFKCZ0C60
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	Performance-based restricted stock units over Common Shares of $0.0001 each USU7744C1063
b.	Nature of the transaction	Grant of restricted stock units
c.	Price(s) and volume(s)	Price(s) Volume(s) 182 pence 260,000
d.	Aggregated information · Aggregated volume · Price	N/A - single transaction
e.	Date of the transaction	4 September 2018
f.	Place of the transaction	London Stock Exchange (XLON); AIM

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Mike Cahill
2.	Reason for the notification
a.	Position/status	Chief Operating Officer
b.	Initial notification / Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Boku, Inc.
b.	LEI	549300Y4P2ZPFKCZ0C60
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	Performance-based restricted stock units over Common Shares of $0.0001 each USU7744C1063
b.	Nature of the transaction	Grant of restricted stock units
c.	Price(s) and volume(s)	Price(s) Volume(s) 182 pence 300,000
d.	Aggregated information · Aggregated volume · Price	N/A - single transaction
e.	Date of the transaction	4 September 2018
f.	Place of the transaction	London Stock Exchange (XLON); AIM

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Richard Hargreaves
2.	Reason for the notification
a.	Position/status	Non-executive director
b.	Initial notification / Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Boku, Inc.
b.	LEI	549300Y4P2ZPFKCZ0C60
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	Restricted stock units over Common Shares of $0.0001 each USU7744C1063
b.	Nature of the transaction	Grant of restricted stock units
c.	Price(s) and volume(s)	Price(s) Volume(s) 182 pence 38,462
d.	Aggregated information · Aggregated volume · Price	N/A - single transaction
e.	Date of the transaction	4 September 2018
f.	Place of the transaction	London Stock Exchange (XLON); AIM

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Mark Britto
2.	Reason for the notification
a.	Position/status	Non-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	Boku, Inc.
b.	LEI	549300Y4P2ZPFKCZ0C60
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	Restricted stock units over Common Shares of $0.0001 each USU7744C1063
b.	Nature of the transaction	Grant of restricted stock units
c.	Price(s) and volume(s)	Price(s) Volume(s) 182 pence 51,399
d.	Aggregated information · Aggregated volume · Price	N/A - single transaction
e.	Date of the transaction	4 September 2018
f.	Place of the transaction	London Stock Exchange (XLON); AIM

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Keith Butcher
2.	Reason for the notification
a.	Position/status	Non-executive director
b.	Initial notification / Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Boku, Inc.
b.	LEI	549300Y4P2ZPFKCZ0C60
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	Restricted stock units over Common Shares of $0.0001 each USU7744C1063
b.	Nature of the transaction	Grant of restricted stock units
c.	Price(s) and volume(s)	Price(s) Volume(s) 182 pence 38,462
d.	Aggregated information · Aggregated volume · Price	N/A - single transaction
e.	Date of the transaction	4 September 2018
f.	Place of the transaction	London Stock Exchange (XLON); AIM

Notes to Editors

Incorporated in 2008, Boku is the leading independent direct carrier billing company in the world. Boku's technology enables mobile phone users, of which there are more than five billion worldwide, to buy goods and services and charge them to their mobile phone bill or pre-pay balance.

Boku's platform connects its customers, including Apple, Google, Facebook, Microsoft, Spotify and Sony, with billing, identity and sales systems of mobile network operators. The Group's technology makes a consumer's mobile phone number a convenient and secure payment method, providing an alternative to credit and debit cards. By using Boku, merchants take people with mobile phones and make them paying users.

 

END

 

 

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