TIDMMIRI
RNS Number : 4279G
Mirriad Advertising PLC
19 July 2023
19 July 2023
Mirriad Advertising plc
("Mirriad" or the "Company")
LTIP option awards and PDMR dealings
Mirriad Advertising plc, the leading in-content advertising
company, announces that, under the terms of the Company's long-term
incentive plan ("LTIP"), a total of 25,687,322 options over
Ordinary Shares of GBP0.00001 each in the Company (the "Options")
were granted on 19 July 2023 to a director, senior managers and
employees, as detailed below.
The Options consist of three grants:
1. New three year Options granted to Mirriad's three senior
executives: the Chief Executive Officer (CEO), the General Manager
(GM) of North America and the Chief Technology Officer (CTO). These
have been issued at a strike price of 3p each (equivalent to the
price of the recent placing and open offer). The Options will vest
annually over three years;
2. Grants to the same three senior executives in return for
agreeing to one-off 12 month salary cuts of 10%, in the case of the
CEO, and 5% for the GM North America and CTO respectively. In the
case of the CEO and the CTO these Options will have a strike price
equivalent to the nominal value of the Company's ordinary
shares(GBP0.00001). For the GM North America these Options have a
strike price of 3p as the personal tax treatment of nominal value
options differs in the US . All these Options have a one year
vesting period; and
3. Grants to certain other senior managers some of whom are
regarded as PDMRs. These grants continue the programme of annual
Option grants to senior managers which commenced in 2022. These
Options have a strike price of 3p and vest after two years.
Director and PDMR Option awards: new three year options with a
strike price of 3p
Name and position Number of shares
subject to option
Stephan Beringer, CEO (Executive Director) 12,740,584
-------------------
Mark Melvin, GM North America (PDMR) 1,800,000
-------------------
Philip Mattimoe, Chief Technology Officer (PDMR) 4,069,999
-------------------
Total option grants in this category 18,610,583
-------------------
Director and PDMR Option awards: new one year options with a
strike price of GBP0.00001
Name and position Number of shares
subject to option
Stephan Beringer, CEO (Executive Director) 1,512,712
-------------------
Philip Mattimoe, Chief Technology Officer (PDMR) 366,102
-------------------
Total option grants in this category 1,878,814
-------------------
Director and PDMR Option awards: new one year options with a
strike price of 3p
Name and position Number of shares
subject to option
Mark Melvin, GM North America (PDMR) 1,448,400
-------------------
PDMR Option awards: new two year options with a strike price of
3p
Name and position Number of shares
subject to option
Rajasekhar Parakkal, MD India (PDMR) 280,000
-------------------
Tim Jones, Global Head of Research & Insights
(PDMR) 214,288
-------------------
Jamie Allen, Group Financial Controller & Company
Secretary (PDMR) 195,431
-------------------
Total option grants in this category 689,719
-------------------
In total the Company has granted 22,627,516 Options to senior
managers who are either Directors or deemed PDMRs.
Other senior managers and employee option awards
The Company has also granted 2,152,555 Options to ten existing
senior managers, who are not regarded as PDMRs. These options have
a strike price of 3p and will also vest after two years on 19 July
2025 and will add to existing option grants, which were initially
granted on 6 June 2022.
Total options granted
In total this grant of 24,780,071 Options equates to 5.1% of the
Company's existing issued share capital (the "ISC"). In total,
following the grant of these Options, 48,229,831 options are now
under grant but not exercised under the Mirriad Advertising plc
LTIP scheme (the "Total Options"), which equates to 9.9% of the
ISC. The weighted average price of the Total Options is
approximately 9.1p .
The notifications below are made in accordance with the
requirements of the Market Abuse Regulations.
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Stephan Beringer
------------------------- ---------------------------------------------
Reason for the notification
2
------------------------------------------------------------------------
a) Position / status Chief Executive Officer (Director)
------------------------- ---------------------------------------------
b) Initial notification Initial notification
/ amendment
------------------------- ---------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Mirriad Advertising plc
------------------------- ---------------------------------------------
b) LEI 213800ZKOK9GIME7HE62
------------------------- ---------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary shares of GBP0.00001 each
the financial ISIN: GB00BF52QY14
instrument, type
of instrument
Identification
code
------------------------- ---------------------------------------------
b) Nature of the Grant of Options over Ordinary Shares
transaction
------------------------- ---------------------------------------------
c) Price(s) and volume(s) Exercise price 3p, volume 12,740,584
Exercise price GBP0.00001, volume 1,512,712
------------------------- ---------------------------------------------
d) Aggregated information
- Aggregated volume 14,253,296
- Price GBP382,233
------------------------- ---------------------------------------------
e) Date of the transaction 19 July 2023
------------------------- ---------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------- ---------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Mark Melvin
------------------------- --------------------------------------
Reason for the notification
2
-----------------------------------------------------------------
a) Position / status GM North America (PDMR)
------------------------- --------------------------------------
b) Initial notification Initial notification
/ amendment
------------------------- --------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-----------------------------------------------------------------
a) Name Mirriad Advertising plc
------------------------- --------------------------------------
b) LEI 213800ZKOK9GIME7HE62
------------------------- --------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary shares of GBP0.00001 each
the financial ISIN: GB00BF52QY14
instrument, type
of instrument
Identification
code
------------------------- --------------------------------------
b) Nature of the Grant of Options over Ordinary Shares
transaction
------------------------- --------------------------------------
c) Price(s) and volume(s) Exercise price 3p, volume 3,248,400
------------------------- --------------------------------------
d) Aggregated information
- Aggregated volume 3,248,400
- Price GBP97,452
------------------------- --------------------------------------
e) Date of the transaction 19 July 2023
------------------------- --------------------------------------
f) Place of the transaction Outside a trading venue
------------------------- --------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Philip Mattimoe
------------------------- -------------------------------------------
Reason for the notification
2
----------------------------------------------------------------------
a) Position / status CTO (PDMR)
------------------------- -------------------------------------------
b) Initial notification Initial notification
/ amendment
------------------------- -------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name Mirriad Advertising plc
------------------------- -------------------------------------------
b) LEI 213800ZKOK9GIME7HE62
------------------------- -------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary shares of GBP0.00001 each
the financial ISIN: GB00BF52QY14
instrument, type
of instrument
Identification
code
------------------------- -------------------------------------------
b) Nature of the Grant of Options over Ordinary Shares
transaction
------------------------- -------------------------------------------
c) Price(s) and volume(s) Exercise price 3p, volume 4,069,999
Exercise price GBP0.00001, volume 366,102
------------------------- -------------------------------------------
d) Aggregated information
- Aggregated volume 4,436,101
- Price GBP122,104
------------------------- -------------------------------------------
e) Date of the transaction 19 July 2023
------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------- -------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Rajasekhar Parakkal
------------------------- --------------------------------------
Reason for the notification
2
-----------------------------------------------------------------
a) Position / status MD India (PDMR)
------------------------- --------------------------------------
b) Initial notification Initial notification
/ amendment
------------------------- --------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-----------------------------------------------------------------
a) Name Mirriad Advertising plc
------------------------- --------------------------------------
b) LEI 213800ZKOK9GIME7HE62
------------------------- --------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary shares of GBP0.00001 each
the financial ISIN: GB00BF52QY14
instrument, type
of instrument
Identification
code
------------------------- --------------------------------------
b) Nature of the Grant of Options over Ordinary Shares
transaction
------------------------- --------------------------------------
c) Price(s) and volume(s) Exercise price 3p, volume 280,000
------------------------- --------------------------------------
d) Aggregated information
- Aggregated volume 280,000
- Price GBP8,400
------------------------- --------------------------------------
e) Date of the transaction 19 July 2023
------------------------- --------------------------------------
f) Place of the transaction Outside a trading venue
------------------------- --------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Tim Jones
------------------------- ------------------------------------------
Reason for the notification
2
---------------------------------------------------------------------
a) Position / status Global Head of Research & Insights (PDMR)
------------------------- ------------------------------------------
b) Initial notification Initial notification
/ amendment
------------------------- ------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Mirriad Advertising plc
------------------------- ------------------------------------------
b) LEI 213800ZKOK9GIME7HE62
------------------------- ------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary shares of GBP0.00001 each
the financial ISIN: GB00BF52QY14
instrument, type
of instrument
Identification
code
------------------------- ------------------------------------------
b) Nature of the Grant of Options over Ordinary Shares
transaction
------------------------- ------------------------------------------
c) Price(s) and volume(s) Exercise price 3p, volume 214,288
------------------------- ------------------------------------------
d) Aggregated information
- Aggregated volume 214,288
- Price GBP6,429
------------------------- ------------------------------------------
e) Date of the transaction 19 July 2023
------------------------- ------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------- ------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Jamie Allen
------------------------- -----------------------------------------------
Reason for the notification
2
--------------------------------------------------------------------------
a) Position / status Group Financial Controller & Company Secretary
(PDMR)
------------------------- -----------------------------------------------
b) Initial notification Initial notification
/ amendment
------------------------- -----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Mirriad Advertising plc
------------------------- -----------------------------------------------
b) LEI 213800ZKOK9GIME7HE62
------------------------- -----------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary shares of GBP0.00001 each
the financial ISIN: GB00BF52QY14
instrument, type
of instrument
Identification
code
------------------------- -----------------------------------------------
b) Nature of the Grant of Options over Ordinary Shares
transaction
------------------------- -----------------------------------------------
c) Price(s) and volume(s) Exercise price 3p, volume 195,431
------------------------- -----------------------------------------------
d) Aggregated information
- Aggregated volume 195,431
- Price GBP5,863
------------------------- -----------------------------------------------
e) Date of the transaction 19 July 2023
------------------------- -----------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------- -----------------------------------------------
S
For further information please visit www.mirriad.com or
contact:
Mirriad Advertising plc Tel: +44 (0)207 884 2530
Stephan Beringer, Chief Executive Officer
David Dorans, Chief Financial Officer
Nominated Adviser & Broker: Tel: +44 (0)20 7886 2500
Panmure Gordon
James Sinclair-Ford/Daphne Zhang (Corporate
Advisory)
Rupert Dearden (Corporate Broking)
Financial Communications:
Charlotte Street Partners
Tom Gillingham Tel: +44 (0) 7741 659021
Fergus McGowan Tel: +44 (0) 7590 049023
About Mirriad
Mirriad's award-winning solution unleashes new revenue for
content producers and distributors by creating new advertising
inventory in content. Our patented, AI and computer vision
technology dynamically inserts products and innovative signage
formats after content is produced. Mirriad's market-first solution
seamlessly integrates with existing subscription and advertising
models, and dramatically improves the viewer experience by limiting
commercial interruptions.
Mirriad currently operates in the US, Europe and the Middle
East.
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END
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July 19, 2023 02:00 ET (06:00 GMT)
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