Grant of Options and Warrants

RNS Number : 4400Z
React Group PLC
17 May 2019
 

REACT GROUP PLC

 

Grant of Options and Warrants

 

React Group Plc announces that on 17 May 2019 it granted options ("Options") over a total of 42,371,519 ordinary shares of 0.25 pence in the Company's ("Ordinary Shares") to employees, as set out in the table below.  Gillian Leates has surrendered her existing warrants over 2,380,000 Ordinary Shares.  The Company has also granted warrants ("Warrants") over a total of 19,939,537 Ordinary Shares to Wydelta Limited, a consulting and advisory firm led by Mark Braund. In aggregate, these share options and warrants represent 14.6 % of the current issued share capital.

 

The Options have an exercise price of 0.3 pence per Ordinary Share, vest two years from the date of grant and once vested are exercisable at any time up to ten years after the date of grant, subject to performance conditions.  The Warrants are subject to the same performance criteria although are exercisable at any time up to five years after the date of grant.  After five years the option performance will cease to apply.

 

The Options and Warrants have an exercise price of 0.3 pence per share and are subject to performance conditions whereby the average mid-market closing share price of the Company's Ordinary Shares in any consecutive 5 day period in the period 17 May 2024 is at or above the defined levels, as follows:

 

share price at or above

% of total vesting

cumulative % of total vesting

0.40p

10%

10%

0.80p

10%

20%

1.20p

10%

30%

1.60p

10%

40%

2.00p

10%

50%

2.40p

25%

75%

2.80p

25%

100%

 

The Options and Warrants have been granted to as follows:

 

Name

Role

Type

Options or Warrants granted

Total Options / Warrants over Ordinary Shares now held

Gillian Leates

 

Executive Chairman

Enterprise Management Incentive ("EMI")

19,939,537

19,939,537

Shaun Doak

 

Managing Director

EMI

18,693,318

18,693,318

Andrea Pankhurst

 

Finance Controller

EMI

2,077,038

2,077,038

Michael Joyce

Non-Executive Director

Non-approved

830,813

830,813

Rob Gilbert

Non-Executive Director

Non-approved

830,813

830,813

Wydelta Limited

 

Strategic & Operational Advice

Warrants

19,939,537

19,939,537

 

 

For further information, please contact:

REACT Group PLC

Gill Leates - Executive Chairman

 

07799 662642

SPARK Advisory Partners Limited

Neil Baldwin

 

0113 370 8974

Peterhouse Capital (Broker)

Duncan Vasey/Martin Lampshire

  0207 459 0930

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Gillian Leates

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

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

 

 

REACT Group plc

b)

 

LEI

 

 

213800H54C4GOFN7MO32

 

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

Ordinary shares of 0.25p each



Identification code

GB00BZ2JBG28

 


b)

 

Nature of the transaction

 

 

Grant of Options

c)

 

Price(s) and volume(s)

 

 

 

 


 

Price(s)

Volume(s)

 


 

0.3p

19,939,537

 


 

 

 

 

d)

 

Aggregated information

n/a - single transaction



- Aggregated volume




- Price




e)

 

Date of the transaction

 

 

17 May 2019

f)

 

Place of the transaction

 

 

London Stock Exchange

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Shaun Doak

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Managing Director

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

REACT Group plc

b)

 

LEI

 

 

213800H54C4GOFN7MO32

 

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

Ordinary shares of 0.25p each



Identification code

GB00BZ2JBG28

 


b)

 

Nature of the transaction

 

 

Grant of Options

c)

 

Price(s) and volume(s)

 

 

 

 


 

Price(s)

Volume(s)

 


 

0.3p

18,693,318

 


 

 

 

 

d)

 

Aggregated information

n/a - single transaction



- Aggregated volume




- Price




e)

 

Date of the transaction

 

 

17 May 2019

f)

 

Place of the transaction

 

 

London Stock Exchange

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Andrea Pankhurst

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Finance Controller

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

REACT Group plc

b)

 

LEI

 

 

213800H54C4GOFN7MO32

 

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

Ordinary shares of 0.25p each



Identification code

GB00BZ2JBG28

 


b)

 

Nature of the transaction

 

 

Grant of Options

c)

 

Price(s) and volume(s)

 

 

 

 


 

Price(s)

Volume(s)

 


 

0.3p

2,077,038

 


 

 

 

 

d)

 

Aggregated information

n/a - single transaction



- Aggregated volume




- Price




e)

 

Date of the transaction

 

 

17 May 2019

f)

 

Place of the transaction

 

 

London Stock Exchange

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Michael Joyce

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

 

 

REACT Group plc

b)

 

LEI

 

 

213800H54C4GOFN7MO32

 

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

Ordinary shares of 0.25p each



Identification code

GB00BZ2JBG28

 


b)

 

Nature of the transaction

 

 

Grant of Options

c)

 

Price(s) and volume(s)

 

 

 

 


 

Price(s)

Volume(s)

 


 

0.3p

830,813

 


 

 

 

 

d)

 

Aggregated information

n/a - single transaction



- Aggregated volume




- Price




e)

 

Date of the transaction

 

 

17 May 2019

f)

 

Place of the transaction

 

 

London Stock Exchange

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Rob Gilbert

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

 

 

REACT Group plc

b)

 

LEI

 

 

213800H54C4GOFN7MO32

 

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

Ordinary shares of 0.25p each



Identification code

GB00BZ2JBG28

 


b)

 

Nature of the transaction

 

 

Grant of Options

c)

 

Price(s) and volume(s)

 

 

 

 


 

Price(s)

Volume(s)

 


 

0.3p

830,813

 


 

 

 

 

d)

 

Aggregated information

n/a - single transaction



- Aggregated volume




- Price




e)

 

Date of the transaction

 

 

17 May 2019

f)

 

Place of the transaction

 

 

London Stock Exchange

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
DSHFDLFFKEFXBBQ

Companies

React Group (REAT)
UK 100

Latest directors dealings