Grant of Share Options

RNS Number : 4977D

LPA Group PLC

19 February 2020

 

LPA GROUP PLC
Grant of Share Options

LPA Group PLC ("LPA" or the "Group"), the high reliability LED lighting and electro-mechanical system manufacturer, announces the award of share options (the "Share Options") to the following directors / PDMRs / related parties and other employees of the Group (the "Award Holders"), as follows:

Director/PDMR	Position	Number of Options	Exercise Price
Paul Curtis	COO	50,000	109.33p
Chris Buckenham	CFO	40,000	109.33p
John Hesketh	MD - LPA Lighting Systems	25,000	109.33p
Mike Raynor	GM - LPA Channel Electric	25,000	109.33p
Subtotal		140,000
Related Party	Position	Number of Options	Exercise Price
Gary Newman	FD - LPA Connection Systems	10,000	109.33p
Nigel Orme	OD - LPA Lighting Systems	10,000	109.33p
Other employees		95,000	109.33p
Subtotal		115,000
Total Awards		255,000	109.33p

Under the terms of the Share Options, they may be exercised from 19 February 2023 until 18 February 2030.

It is the expectation of the Company that the LPA Employee Benefit Trust (the "EBT") will satisfy the awards when exercised.  In the event that the EBT does not satisfy the awards when exercised, the Company will do so through an issue of new ordinary shares to the Award Holders.

As a result of the grant of the Share Options, the total number of options in place for directors and employees of LPA is as follows:

Number of Options	Exercise Price
540,000	36.00p
100,000	32.00p
185,000	49.00p
150,000	104.83p
255,000	109.33p
1,230,000

The grants of the Share Options to the directors and related parties named above are deemed to be related party transactions for the purposes of Rule 13 of the AIM Rules (the "Transaction"). The directors independent of the Transaction, being Peter Pollock, Michael Rusch and Len Porter consider, having consulted with the Company's Nominated Adviser, that the terms of the Transaction are fair and reasonable insofar as its shareholders are concerned.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. 

Enquires:	www.lpa-group.com		Tel:
LPA Group Plc
Peter Pollock	Chairman		01799 512844
Paul Curtis	COO		01799 512858
Chris Buckenham	CFO		01799 512859
Cairn Financial Advisers	(Nominated Adviser)		020 7213 0880
James Caithie / Tony Rawlinson / Ludovico Lazzaretti
finnCap	(Broker)		020 7220 0500
Ed Frisby / Teddy Whiley (Corporate Finance) Tim Redfern / Tim Harper (ECM & Sales)

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Paul Curtis
2	Reason for the notification
a)	Position/status	COO
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	LPA Group plc
b)	LEI	2138007S67YLDN6CEF21
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	Options over ordinary shares of 10p each GB0007320806
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Exercise price: 109.33p	50,000
d)	Aggregated information - Aggregated volume - Price	50,000 109.33p
e)	Date of the transaction	19 February 2020
f)	Place of the transaction	London Stock Exchange (XLON)
g)	Additional Information	N/A

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Chris Buckenham
2	Reason for the notification
a)	Position/status	CFO
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	LPA Group plc
b)	LEI	2138007S67YLDN6CEF21
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	Options over ordinary shares of 10p each GB0007320806
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Exercise price: 109.33p	40,000
d)	Aggregated information - Aggregated volume - Price	40,000 109.33p
e)	Date of the transaction	19 February 2020
f)	Place of the transaction	London Stock Exchange (XLON)
g)	Additional Information	N/A

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	John Hesketh
2	Reason for the notification
a)	Position/status	MD - Excil Electronics Ltd t/a LPA Lighting Systems
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	LPA Group plc
b)	LEI	2138007S67YLDN6CEF21
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	Options over ordinary shares of 10p each GB0007320806
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Exercise price: 109.33p	25,000
d)	Aggregated information - Aggregated volume - Price	25,000 109.33p
e)	Date of the transaction	19 February 2020
f)	Place of the transaction	London Stock Exchange (XLON)
g)	Additional Information	N/A

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Mike Raynor
2	Reason for the notification
a)	Position/status	GM - Channel Electric Equipment Ltd t/a LPA Channel Electric
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	LPA Group plc
b)	LEI	2138007S67YLDN6CEF21
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	Options over ordinary shares of 10p each GB0007320806
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Exercise price: 109.33p	25,000
d)	Aggregated information - Aggregated volume - Price	25,000 109.33p
e)	Date of the transaction	19 February 2020
f)	Place of the transaction	London Stock Exchange (XLON)
g)	Additional Information	N/A

 

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