Admission of Shares, Voting Rights and Options

RNS Number : 9016I

Location Sciences Group PLC

29 November 2018

 

29 November 2018

Location Sciences Group PLC

("Location Sciences" or the "Company")

Admission of Placing Shares, Total Voting Rights and Grant of Options

Location Sciences Group PLC (AIM: LSAI), the leading mobile location data and intelligence expert, announces that, pursuant to the completion of the Placing announced on 26 November 2018, 122,822,221 new ordinary shares of 1 pence each in the Company ("Ordinary Shares") were this morning admitted to trading on AIM. The Company's issued share capital now comprises 332,655,659 Ordinary Shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

The Company also announces that, pursuant to the approval by shareholders of Resolution 2 at the Company's general meeting held on 21 November 2018, approving the adoption of a new Enterprise Management Incentive (EMI) share option scheme for directors and key employees of the Company, the Board has this morning granted, subject to the surrendering of existing options, options to certain Directors as follows:

Mark Slade, CEO, has been granted 11,111,111 options under the EMI scheme and 4,444,444 unapproved options;

David Rae, CFO, has been granted 7,333,333 options under the EMI scheme; and

Kelvin Harrison, Non-Executive Chairman, has been granted 577,778 unapproved options.

All options were granted at an exercise price of 2.25 p, being the Placing Price. The options vest in tranches of one-third each when the closing mid market share price of the Company has exceeded 4.8 pence, 7.3 pence and 9.7 pence per Ordinary Share respectively, in each case calculated using a three month moving average of the share price of the Company. If the Company is acquired, the options will vest in all respects and become exercisable in full. Shares issued upon exercise, must be held for a minimum period of 12 months, again other than in the event of the acquisition of the Company. Unapproved options are granted on terms which are in all material respects identical to those granted under the EMI Scheme. All options lapse 10 years from the date of grant.

Save as defined herein, capitalised terms used in this announcement have the same meaning as in the Company's announcements of 26 November 2018.

For further information please contact:

Location Sciences Group PLC	Via Newgate Communications
Mark Slade, Chief Executive Officer
David Rae, Chief Financial Officer
Stockdale Securities Limited	Tel: [phone]
Tom Griffiths
Ed Thomas
Newgate Communications	Tel: [phone]
Bob Huxford
Fiona Norman

About Location Sciences Group PLC:

Location Sciences helps companies connect the online world with the offline world using mobile location technology data. We combine cutting-edge mobile location data collection with proprietary machine learning analytics to create new value and insights from location information.

Location Sciences is media-agnostic and works with a variety of media, advertising and technology partners - plus the world's biggest brands. Our technology is well positioned to fulfil the need for greater accuracy and accountability in a growing market that is increasingly looking for superior data and verification.

 

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