TIDMIMMO
RNS Number : 1342N
Immotion Group PLC
28 January 2021
Immotion Group plc
("Immotion", the "Company" or the "Group")
Director/PDMR Dealings and Grant of Options
Immotion Group (AIM:IMMO) announces the following Director/PDMR
dealings in the shares of the Company resulting from the
distribution of shares in the Company held by M Capital Ventures
Limited (in members' voluntary liquidation) acting by its
Liquidator to its shareholders and the grant of share options by
the Group as previously announced on 19 November 2020.
Samuel Higginson, the Group's Marketing Director and person
closely associated with Martin Higginson (the Group's CEO) received
738,590 Ordinary Shares in respect of shares distributed by M
Capital Ventures Limited (in members' voluntary liquidation) acting
by its Liquidator. Following this distribution, Samuel Higginson's
total holding is 17,694,330, representing 4.32% of the Group's
issued share capital. Following this distribution, the Higginson
family holding is 41,721,275, representing 10.19% of the Group's
issued share capital.
David Marks, the Finance Director of the Group, received 25,083
Ordinary Shares in respect of shares distributed by M Capital
Ventures Limited (in members' voluntary liquidation) acting by its
Liquidator. Following this distribution, David Marks' total holding
is 10,292,663 representing 2.51% of the Group's issued share
capital.
Sir Robin Miller, a Non-Executive Chairman of the Group,
received 34,976 Ordinary Shares in respect of shares distributed by
M Capital Ventures Limited (in members' voluntary liquidation)
acting by its Liquidator. Following this distribution, Sir Robin
Miller's total holding is 385,000 representing 0.09% of the Group's
issued share capital.
Additionally, as previously announced on 19 November 2020, in
which the Company stated its intention to cancel the original
options scheme and grant new options, the Company confirms that
this has now been fully documented with deeds of surrender and
grant entered into by Directors, PDMRs and its senior management
team. The Company confirms options over a total of 55,981,867 new
ordinary shares ("New Options") have been granted in the amounts
set out in the announcement of 19 November 2020, as further
disclosed below:
Name Position Held No. of options Total options
over Ordinary held post-grant
Shares granted
Martin Higginson Chief Executive Officer 16,130,369 16,130,369
--------------------------- ---------------- -----------------
David Marks Group Finance Director 10,437,297 10,437,297
--------------------------- ---------------- -----------------
Rodney Findley Group Commercial Director 10,437,297 10,437,297
--------------------------- ---------------- -----------------
Chairman, Immotion
Ian Hetherington Studios 7,590,762 7,590,762
--------------------------- ---------------- -----------------
Daniel Wortley Group Head of Finance 3,795,380 3,795,380
--------------------------- ---------------- -----------------
Arek Antoniak Director of Operations 2,846,536 2,846,536
--------------------------- ---------------- -----------------
Other senior management 4,744,226 4,744,226
---------------- -----------------
55,981,867 55,981,867
-----------------
The New Options have been granted pursuant to the Company's
Share Option Scheme and have an exercise price of 2.5 pence per
Ordinary Share.
One-third of Rod Findley's New Options (equating to 3,479,099
New Options) will vest and be capable of exercise 12 months* from
the issue date in recognition of his achievement in growing the
Partner business.
The remainder of the New Options will vest and be capable of
exercise as follows, based on the attainment of share price hurdles
as follows (in each case for not less than 20 consecutive
days):
Tranche Proportion Vesting Criteria
of New Options
in Tranche
1 33.33% The later of:
(i) 12 months from the issue date*;
and
(ii) The 20 (th) consecutive day whereby
the volume-weighted average price
("VWAP") of the Company's shares is
5 pence or greater
---------------- ------------------------------------------
2 33.33% The later of:
(i) 12 months from the issue date*;
and
(ii) The 20 (th) consecutive day whereby
the VWAP of the Company's shares is
7.5 pence or greater
---------------- ------------------------------------------
3 33.33% The later of:
(i) 12 months from the issue date*;
and
(ii) The 20 (th) consecutive day whereby
the VWAP of the Company's shares is
10 pence or greater
---------------- ------------------------------------------
*None of the New Options are exercisable within the first 12
months from the date of issue except in the case of a change of
control of the Company.
The Company has a total of 56,929,200 options in issue over
Ordinary Shares, representing approximately 13.9 per cent. of the
Company's current issued share capital.
As previously explained in the announcement of 19 November 2020
referred to above, in the event that the exercise of options would
result in any individual or concert party holding more than 30 per
cent of the Company, shareholders will be asked to approve a
whitewash, as defined under rule 9 of The Takeover Code. In the
absence of this, or unless it was agreed that any such exercised
shares would be sold immediately, the Company will not allow the
issue of shares relating to the exercise of options that would
result in the concert party exceeding 30 per cent.
Further details and the information required in accordance with
the requirements of the Market Abuse (Amendment) (EU exit)
Regulations 2019/310 are set out at the end of this
announcement.
Enquiries:
For further information please visit www.immotion.co.uk , or contact:
Immotion Group Martin Higginson Tel + 44 (0) 207 220
David Marks 1666
WH Ireland Limited Adrian Hadden Tel + 44 (0) 207 220
(Nomad and Joint Broker) Darshan Patel 1666
Matthew Chan
Alvarium Capital Partners Alex Davies Tel: +44 (0) 207 195
(Joint Broker) 1458
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 PDMRs: Martin Higginson Chief Executive Officer
David Marks Group Finance Director
Rod Findley Group Commercial Director
Daniel Wortley Group Head of Finance
Ian Hetherington Chairman, Immotion
Studios
Arek Antoniak Director of Operations
--------------------------- --------------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------
a) Position/status See 1a) above
--------------------------- --------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------- --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name Immotion Group Plc
--------------------------- --------------------------------------------------
b) LEI 894500TW3TTWSJ7DYP93
--------------------------- --------------------------------------------------
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 Options over ordinary shares of GBP0.00040108663
the financial instrument, each in Immotion Group Plc
type of instrument Identification code (ISIN) for Immotion
Identification Group Plc ordinary shares: GB00BD5JRP64
code
--------------------------- --------------------------------------------------
b) Nature of the transaction Grant of options
--------------------------- --------------------------------------------------
c) Price(s) and volume(s) Name Price(s) Volume(s)
Martin Higginson 2.5p 16,130,369
David Marks 2.5p 10,437,297
Rod Findley 2.5p 10,437,297
Ian Hetherington 2.5p 7,590,762
Daniel Wortley 2.5p 3,795,380
Arek Antoniak 2.5p 2,846,536
--------------------------- --------------------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
--------------------------- --------------------------------------------------
e) Date of the transactions New Options put in place as of 19 November
2020
--------------------------- --------------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------- --------------------------------------------------
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 PDMRs: Samuel Higginson Group Marketing Director
David Marks Group Finance Director
Sir Robin Miller Non-Executive Chairman
--------------------------- ---------------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------
a) Position/status See 1a) above
--------------------------- ---------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------- ---------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------
a) Name Immotion Group Plc
--------------------------- ---------------------------------------------------
b) LEI 894500TW3TTWSJ7DYP93
--------------------------- ---------------------------------------------------
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 Ordinary shares of GBP0.00040108663 each
the financial instrument, in Immotion Group Plc
type of instrument
Identification Identification code (ISIN) for Immotion
code Group Plc ordinary shares: GB00BD5JRP64
--------------------------- ---------------------------------------------------
b) Nature of the transaction Distribution of shares in the Company held
by M Capital Ventures Limited to its shareholders
--------------------------- ---------------------------------------------------
c) Price(s) and volume(s) Name Price(s) Volume(s)
Samuel Higginson N/A 738,590
David Marks N/A 25,083
Sir Robin Miller N/A 34,976
--------------------------- ---------------------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
--------------------------- ---------------------------------------------------
e) Date of the transactions 7 December 2020
--------------------------- ---------------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------- ---------------------------------------------------
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END
DSHUBVURASUAUUR
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January 28, 2021 02:00 ET (07:00 GMT)
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