Exercise of Options, Director Dealings and TVR

LBG Media PLC

04 January 2024

 

04 January 2024

LBG Media plc

(the "Company")

Exercise of Options, Director Dealings and Total Voting Rights

LBG Media plc, the owner of the global leader in youth publishing LADbible Group, announces that the Company has allotted and issued 2,459,098 new ordinary shares of £0.001 each ("Ordinary Shares") in the Company (the "Option Shares") pursuant to the exercise of options ("Options") that were awarded to certain Directors prior to the IPO of the Company in 2021 (the "Pre IPO Awards").

The Pre-IPO Awards were one-off awards which vested and became exercisable on the second anniversary of the Company's admission to AIM, conditional on the award holder continuing to serve as a Non-Executive Director at that time. Full details of the Pre IPO Awards were documented in the Admission Document dated 07 December 2021. The Options were exercised by David Wilson (Non-Executive Chairman) and Carol Kane (Non-Executive Director) (together the "Share Option Participants").  Details in relation to the Option Shares issued to the Share Option Participants are contained in the table below.

The Share Option Participants have sold, in aggregate, 1,350,628 Option Shares at a price of approximately 78.4 pence per Option Share, in order to finance the cost of exercising the Options, the resulting income tax and National Insurance liabilities.

Following the exercise of Options and the sale of Option Shares, a total of 1,506,514 Ordinary Shares, are held by the Share Option Participants representing an increase in aggregate holdings from 0.19% to 0.72% of the issued share capital of the Company. 

The table below details their interests in the share capital of the Company:

Director	Position	Ordinary Shares held previously	% of total issued share capital	Number of Ordinary Shares over which Options exercised	Number of Ordinary Shares sold	Resulting total number of Ordinary Shares held	% of enlarged issued share capital
David Wilson	Non Executive Chairman	398,044	0.19%	1,030,527	566,004	862,567	0.41%
Carol Kane	Non Executive Director	Nil	Nil	1,428,571	784,624	643,947	0.31%
TOTAL		398,044	0.19%	2,459,098	1,350,628	1,506,514	0.72%

Admission and Total Voting Rights 

Application has been made for the 2,459,098 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission and dealings in those shares will commence at 8.00 a.m. on 08 January 2024.

The Company advises that, immediately following Admission, there will be 209,079,740 Ordinary Shares in issue, with one voting right each. The Company does not hold any shares in treasury. The number of Ordinary Shares with voting rights will therefore be 209,079,740. Accordingly, this number should 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.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Wilson
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	LBG Media plc
b)	LEI	213800MF1QX5EE3RAV98
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 £0.001 each in the Company ISIN: GB00BKPH9R58
b)	Nature of the transaction	(i)            Exercise of options  (ii)           Sale of Ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) (i)            £0.001 (ii)           £0.784447 1,030,527 566,004
d)	Aggregated information - Aggregated volume - Price	Price(s) Volume(s) (i)            £0.001 (ii)           £0.784447 1,030,527 566,004
e)	Date of the transaction	03 January 2024
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Carol Kane
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	LBG Media plc
b)	LEI	213800MF1QX5EE3RAV98
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 £0.001 each in the Company ISIN: GB00BKPH9R58
b)	Nature of the transaction	(i)            Exercise of options  (ii)           Sale of Ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) (i)            £0.001 (ii)           £0.784447 1,428,571 784,624
d)	Aggregated information - Aggregated volume - Price	Price(s) Volume(s) (i)            £0.001 (ii)           £0.784447 1,428,571 784,624
e)	Date of the transaction	03 January 2024
f)	Place of the transaction	London Stock Exchange, AIM

For further information please contact:

LBG Media plc Solly Solomou, Chief Executive Officer Richard Jarvis, Chief Financial Officer	Via Buchanan
Zeus (Nominated Adviser & Joint Broker) Dan Bate / Nick Cowles (Investment Banking) Benjamin Robertson (Equity Capital Markets)	Tel: [phone] www.zeuscapital.co.uk
Peel Hunt LLP (Joint Broker) Neil Patel Paul Gillam Richard Chambers	Tel: [phone] www.peelhunt.com
Media enquiries: Buchanan Richard Oldworth / Chris Lane / Toto Berger / Jack Devoy	Tel: [phone] www.buchanan.uk.com

 

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