TIDMBBB

RNS Number : 7087R

Bigblu Broadband PLC

31 October 2019

Bigblu Broadband plc

("BBB" or the "Company")

Grant of LTIP Awards and Share Options

Bigblu Broadband plc (AIM: BBB), a leading provider of alternative fast broadband services, announces that on 28 October 2019, the Company granted nominal-cost options over a total of 988,918 ordinary shares under the Company's 2018 Long Term Incentive Plan ("LTIP") to Executive Directors and certain employees (representing 1.7% of the Company's current issued share capital).

LTIP awards

LTIP awards have made to the following Executive Directors and are subject to vesting criteria over a three-year period based on total shareholder return ("TSR") targets:

 
 Name             Position                   Number of LTIP awards 
 Andrew Walwyn    Chief Executive Officer    199,489 
                 -------------------------  ---------------------- 
 Frank Waters     Chief Financial Officer    160,273 
                 -------------------------  ---------------------- 
 Simon Clifton    Chief Technical Officer    156,010 
                 -------------------------  ---------------------- 
 

These awards will be based on a range of challenging absolute TSR targets and relative TSR targets based on a broad comparator group of companies in the AIM All Share index, over a three-year period.

Grant of options

In addition, the Board has approved the grant of 83,334 share options to employees both in the UK and overseas under the Company's 2015 Unapproved Option Scheme. The options will normally vest approximately on 30 August 2021 and are subject to performance conditions including EBITDA and cash flow targets.

Contacts:

 
 Bigblu Broadband Plc                www.bbb-plc.com 
 Andrew Walwyn, Chief Executive 
  Officer                            Via Walbrook PR 
 
 Numis Securities (Nomad and 
  broker)                            Tel: +44 (0)20 7260 1000 
 Oliver Hardy (Corporate Advisory) 
 James Black / Jonathan Abbott 
  (Corporate Broking) 
 
 Walbrook PR (PR advisers)           Tel: +44 (0)20 7933 8780 
 Nick Rome / Tom Cooper              or bigblubroadband@walbrookpr.com 
 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
      Details of the person discharging managerial responsibilities 
 1     / person closely associated 
                                   Andrew Walwyn 
                                    Frank Waters 
 a)   Name                          Simon Clifton 
     --------------------------  -------------------------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------------------ 
                                                   Chief Executive 
                                    Andrew Walwyn    Officer 
                                                    Chief Financial 
                                    Frank Waters     Officer 
                                                   ---------------- 
                                                    Chief Technical 
                                    Simon Clifton    Officer 
 a)   Position/status                              ---------------- 
     --------------------------  -------------------------------------------- 
      Initial notification 
 b)    /Amendment                 Initial Notification 
     --------------------------  -------------------------------------------- 
      Details of the issuer, emission allowance market participant, 
 3     auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------ 
 a)   Name                        Bigblu Broadband Plc 
     --------------------------  -------------------------------------------- 
 b)   LEI                         2138008P6X5EX455KU41 
     --------------------------  -------------------------------------------- 
      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 
 4     have been conducted 
     ------------------------------------------------------------------------ 
      Description of the 
       financial instrument,      Nominal-cost options over ordinary 
       type of instrument          shares of GBP0.15 each 
 
      Identification code         ISIN: GB00BD5JMP10 
 a) 
     --------------------------  -------------------------------------------- 
 b)   Nature of the transaction   Grant of options under the LTIP 
     --------------------------  -------------------------------------------- 
                                   Name(s)          Price(s)      Volumes(s) 
                                                     GBP0.15 
                                    Andrew Walwyn     per share    199,489 
                                                    ------------  ----------- 
                                                     GBP0.15 
                                    Frank Waters      per share    160,273 
                                                    ------------  ----------- 
                                                     GBP0.15 
                                    Simon Clifton     per share    156,010 
 c)   Price(s) and volume(s)                        ------------  ----------- 
     --------------------------  -------------------------------------------- 
      Aggregated information: 
 
      - Aggregated volume         Options over 515,772 ordinary shares 
 
      - Price                     Nil cost 
 d) 
     --------------------------  -------------------------------------------- 
 e)   Date of the transaction     28 October 2019 
     --------------------------  -------------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  -------------------------------------------- 
 

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

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October 31, 2019 03:00 ET (07:00 GMT)

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