Information  X 
Enter a valid email address

Sumo Group PLC (SUMO)

  Print      Mail a friend

Thursday 01 April, 2021

Sumo Group PLC

Exercise of Share Options and Directors' Dealings

RNS Number : 3654U
Sumo Group PLC
01 April 2021
 

1 April 2021

Sumo Group plc

("Sumo Group" or the "Company")

 

Exercise of Share Options and Directors' Dealings

 

Sumo Group announces that Carl Cavers, Chief Executive Officer, David Wilton, Chief Financial Officer and Paul Porter, Chief Operating Officer have exercised options to acquire further ordinary shares of 1 penny each in the Company ("Ordinary Shares") pursuant to the terms of the Company's Long-Term Incentive Plan ("LTIP").  These options were awarded in March 2018 and vested on 31 March 2021 based on the total shareholder return and earnings per share performance conditions measured over the Company's financial years 2018, 2019 and 2020.

 

Following the exercise of these options each Director has sold Ordinary Shares, in part to meet the tax liability arising from the exercise. This sale took place on 31 March 2021 at a price of 351.6889 pence per Ordinary Share and the shares were purchased by the Company's Employee Benefit Trust ("EBT").

 

Details of the transactions undertaken are set out below:

 

Director

 

No of Ordinary Shares over which options have been exercised

 

No of Ordinary Shares sold

 

Resultant direct and indirect interests in Ordinary Shares following the exercise and sale

 

Direct and indirect interests in Ordinary Shares held as a percentage of the Company's issued ordinary share capital

 

Carl Cavers

752,522

248,319

5,155,543

3.01%

David Wilton

554,985

195,042

696,876

0.40%

Paul Porter

547,732

391,949

4,660,931

2.72%

 

Subsequent to this exercise and sale, David Wilton transferred 359,943 Ordinary Shares to accounts held jointly with his wife, and 113,736 of such Ordinary Shares became subject to a trust in favour of other family members.

 

Employee option exercise and sale

 

Options granted to a number of other participants in the LTIP also vested and were exercised on 31 March and 490,436 Ordinary Shares necessary to satisfy these exercises were issued to the EBT on the same day.  The EBT has also purchased shares from these individuals, at the price of 351.6889 pence per Ordinary Share, where they wished to sell to meet tax liabilities or otherwise.

 

EBT

 

Following these transactions, the EBT holds 1,554,077 Ordinary Shares to be held on the terms of the trust to satisfy the vesting of options under the LTIP in the future.

 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation (as retained in UK law), 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

Carl Cavers

 

 

 

2

Reason for the notification

 

a)

Position/status

Chief Executive Officer

b)

Initial notification /Amendment

Initial notification

 

 

 

3

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

a)

Name

Sumo Group plc

b)

LEI

 213800LTZXJCG5QKIM14

 

 

 

 

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 £0.01

 

 

Identification code

SUMO

b)

Nature of transaction

Option exercise

c)

Price(s) and volume(s)

Price

Volume

 

 

nil

752,522

d)

Aggregated information

- Aggregated volume

- Price

 

N/A

e)

Date of the transaction

31 March 2021

f)

Place of the transaction

Private transaction

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Carl Cavers

 

 

 

2

Reason for the notification

 

a)

Position/status

Chief Executive Officer

b)

Initial notification /Amendment

Initial notification

 

 

 

3

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

a)

Name

Sumo Group plc

b)

LEI

 213800LTZXJCG5QKIM14

 

 

 

 

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 £0.01

 

 

Identification code

SUMO

b)

Nature of transaction

Sale of shares to meet tax liability among other things

c)

Price(s) and volume(s)

Price

Volume

 

 

351.6889p

248,319

d)

Aggregated information

- Aggregated volume

- Price

 

N/A

e)

Date of the transaction

31 March 2021

f)

Place of the transaction

AIM

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

David Wilton

 

 

 

2

Reason for the notification

 

a)

Position/status

Chief Financial Officer

b)

Initial notification /Amendment

Initial notification

 

 

 

3

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

a)

Name

Sumo Group plc

b)

LEI

 213800LTZXJCG5QKIM14

 

 

 

 

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 £0.01

 

 

Identification code

SUMO

b)

Nature of transaction

Option exercise

c)

Price(s) and volume(s)

Price

Volume

 

 

nil

554,985

d)

Aggregated information

- Aggregated volume

- Price

 

N/A

e)

Date of the transaction

31 March 2021

f)

Place of the transaction

Private transaction

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

David Wilton

Helen Wilton

George Wilton

 

 

 

2

Reason for the notification

 

a)

Position/status

Chief Financial Officer

PDMR's PCAs

 

b)

Initial notification /Amendment

Initial notification

 

 

 

3

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

a)

Name

Sumo Group plc

b)

LEI

 213800LTZXJCG5QKIM14

 

 

 

 

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 £0.01

 

 

Identification code

SUMO

b)

 

c)

Nature of transaction

 

Price(s) and volume(s)

 

Name of PDMR/PCA

Nature of transaction

Price

Volume

i.  David Wilton

Sale of shares to meet tax liability among other things

351.6889p

195,042

ii.  David Wilton

Transfer of shares into joint accounts with Helen Wilton (direct interest becomes jointly held)

351.6889

359,943

iii.  David Wilton

Creation of trust over direct interest in certain shares jointly held with Helen Wilton in favour of other family members including George Wilton (disposal of beneficial interest)

351.6889

113,736

iv.  Helen Wilton

Acquisition of direct interest in shares in  joint accounts with David Wilton

351.6889

359,943

v.  Helen Wilton

Creation of trust over direct interest in shares jointly held with David Wilton in favour of other family members (disposal of beneficial interest)

351.6889

113,736

vi.  George Wilton

Acquisition of beneficial interest in shares pursuant to a trust arrangement

351.6889

113,736

 

 

 

 

 

 

 

 

 

 

d)

Aggregated information

- Aggregated volume

- Price

 

N/A

e)

Date of the transaction

31 March 2021

f)

Place of the transaction

AIM for transaction 4.b.i, private transactions for 4.b.ii - vi

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Paul Porter

 

 

 

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

Sumo Group plc

b)

LEI

 213800LTZXJCG5QKIM14

 

 

 

 

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 £0.01

 

 

Identification code

SUMO

b)

Nature of transaction

Option exercise

c)

Price(s) and volume(s)

Price

Volume

 

 

nil

547,732

d)

Aggregated information

- Aggregated volume

- Price

 

N/A

e)

Date of the transaction

31 March 2021

f)

Place of the transaction

Private transaction

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Paul Porter

 

 

 

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

Sumo Group plc

b)

LEI

 213800LTZXJCG5QKIM14

 

 

 

 

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 £0.01

 

 

Identification code

SUMO

b)

Nature of transaction

Sale of shares to meet tax liability among other things

c)

Price(s) and volume(s)

Price

Volume

 

 

351.6889p

391,949

d)

Aggregated information

- Aggregated volume

- Price

 

N/A

e)

Date of the transaction

31 March 2021

f)

Place of the transaction

AIM

 

Enquiries:

 

 

Sumo Group plc

Via Belvedere Communications

Carl Cavers, Chief Executive Officer

Tel: +44(0) 7715 769 078

David Wilton, Chief Financial Officer

 

 

 

Zeus Capital Limited (Nominated Adviser & Broker)

 

Nick Cowles / Andrew Jones

Tel: +44 (0) 161 831 1512

Ben Robertson / John Goold

Tel: +44 (0) 203 829 5000

 

 

 Investec Corporate & Investment Banking (Joint Broker)

 

David Flin

Tel: +44(0)207 597 5970

 

 

Belvedere Communications Limited

 

Cat Valentine ([email protected])

Tel: +44 (0) 7715 769 078

Keeley Clarke ([email protected])

Tel: +44 (0) 7967 816 525

Llew Angus ([email protected])

Tel: +44 (0) 7407 023 147

 

[email protected]

 

About Sumo Group - www.sumogroupplc.com  

 

Sumo Group's businesses provide acclaimed development, design and publishing services to the video games and entertainment industries from studios in the UK, India, Canada, the US, and Poland.

 

Sumo Digital, as the Group's primary business, is one of the UK's largest independent developers of AAA-rated video games, having studios in Sheffield, Newcastle, Nottingham, Leamington Spa, Warrington and Pune, India. The business has acquired three studios since IPO, which operate under their own names, BAFTA award-winning The Chinese Room in Brighton, Red Kite Games in Leeds, Lab42 in Leamington Spa and PixelAnt Games in Wroclaw, Poland. Sumo Digital provides turnkey and co-development solutions to a global blue-chip client base.

 

Pipeworks is an innovative, well-established, and respected US video games developer based in Eugene, Oregon. It provides full development, co-development, and live operations to premier video game publishers and other partners.

 

Atomhawk is a multi-award-winning visual design company, with studios in Newcastle and in Vancouver (Canada), servicing the games, film, and visual effects industries.

 

Secret Mode is a video games publisher, focused on delivering fresh and new gaming experiences to players and building expansive and fulfilling communities around those games. It will publish titles developed within Sumo Group and also by independent developers.

 

 

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 [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHSSLFDFEFSEFL

a d v e r t i s e m e n t