TIDMTMG
RNS Number : 5467M
Mission Group PLC (The)
11 May 2020
The Mission Group plc
("MISSION" "The Company" or "The Group")
Director Dealing and Issue of Consideration Shares
MISSION (AIM:TMG), the alternative group for ambitious brands,
announces that as part of his annual remuneration package, James
Clifton, Group Chief Executive has been issued ordinary shares of
10 pence each ("Ordinary Shares") in the Company to the value of
GBP25,000 ("Remuneration Shares").
The Remuneration Shares were issued at a price of 63.1p per
share, being the daily average closing price for the Company's
shares for the five days preceding 9th April 2020, the anniversary
of his appointment as Group Chief Executive, giving a total award
of 39,620 Ordinary Shares.
The Group also announces that Peter Fitzwilliam, Chief Financial
Officer, who elected to receive a performance reward granted in
2019 in shares rather than cash, with receipt of the shares
deferred until 2020 subject to continued employment, notified
MISSION on 7 May of his intention to trigger receipt of the
Ordinary Shares. The award was for 65,000 Ordinary Shares ("Bonus
Shares").
The Remuneration Shares and Bonus Shares give rise to PAYE and
NI liabilities and, as such, Mr Clifton and Mr Fitzwilliam both
elected to receive such number of Remuneration Shares and Bonus
Shares net-of-tax, being 20,998 Ordinary Shares and 34,450 Ordinary
Shares respectively.
These Remuneration Shares and Bonus Shares were transferred to
Mr Clifton and Mr Fitzwilliam respectively from The Mission Group
Employee Benefit Trust ("EBT") on 7 May 2020.
Following the transfer of the Remuneration Shares, net-of-tax,
from the EBT to Mr Clifton and Mr Fitzwilliam, Mr Clifton is
interested in 792,539 Ordinary Shares, equal to approximately 0.9%
of the issued share capital of the Company and Mr Fitzwilliam is
interested in 1,318,676 Ordinary Shares, equal to approximately
1.4% of the issued share capital of the Company.
Following the transfer of shares from the EBT to Mr Clifton, a
total of 1,015,795 Ordinary Shares, representing 1.1% of the
Company's total voting rights, are held in the EBT.
The Group also announces that it will issue a total of 286,170
Ordinary Shares in the Company as part of its settlement of
earn-out obligations following the finalisation of the audit of the
Group for the year ended 31 December 2019.
A total of 286,170 Ordinary Shares will be issued to the vendors
of Krow Communications Ltd ("krow") based on an average share price
over the 10 business days preceding 7 May 2020 of 56.97 pence per
share. Of these 57,522 shares will be issued to Barry Cook,
Executive Director of the Company. Following the transfer Barry
Cook will hold 214,189 shares representing 0.2% of the issued share
capital.
Application has been made for the 286,170 Ordinary Shares to be
issued to the vendors of krow (the "Earnout Shares") to be admitted
to trading on AIM, with admission expected to take place on 15 May
2020 ("Admission").
Following the issue of the Earnout Shares, there will be
91,015,897 Ordinary Shares in issue. The Company holds no Ordinary
Shares in treasury and therefore this figure may be used by
shareholders of the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in, the share capital of
the Company under the Financial Conduct Authority's Disclosure and
Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
Enquiries:
David Morgan, Chairman
James Clifton, Chief Executive
Peter Fitzwilliam, Chief Financial Officer
The Mission Group plc 020 7462 1415
Mark Percy / James Thomas / Sarah Mather (Corporate
Advisory)
Shore Capital (Nomad and Broker) 020 7408 4090
Kate Hoare / Laura Stewart 0203 760 7668
HOUSTON (Financial PR and Investor Relations)
MISSION is a collective of creative Agencies. Employing 1,150
people in the UK, Europe, Asia and US, the Group combines the
expertise of Integrated and Specialist Agencies to bring
commercially effective solutions to business challenges.
Founded as a cooperative of like-minded entrepreneurs, MISSION
has built an impressive track record. The Group has grown revenue
and profit each year for the last nine years, winning prestigious
and progressively bigger business across its blue-chip Client base
and acquiring new Agencies with fantastic reputations, expanding
its service capability even further.
In addition to the Group's creative Agencies sits Fuse,
MISSION's central innovation hub through which the Group has
successfully trialled and developed a number of emerging
technologies. Many of these have been grown into successful
commercial products that not only bring value to the MISSION family
of Agencies, but which have been successfully able to realise
market value at sale.
www.themission.co.uk
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name James Clifton
-------------------------- -------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position/status James Clifton Chief Executive
Officer
-------------------------- -------------------------------------------
b) Initial notification 7 Ma y 2020
/Amendment
-------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name The Mission Group plc
-------------------------- -------------------------------------------
b) LEI 213800L567CF3Z6GPZ03
-------------------------- -------------------------------------------
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, Ordinary shares of 10 pence each
type of instrument
Identification code GB00B11FD453
-------------------------- -------------------------------------------
b) Nature of the transaction Pursuant to director remuneration package
-------------------------- -------------------------------------------
c) Price(s) and volume(s)
Price(s) Volume(s)
James Clifton Nil price 20,998
----------- ----------
-------------------------- -------------------------------------------
d) Aggregated information
- Aggregated volume 20,998
- Price Nil price
-------------------------- -------------------------------------------
e) Date of the transaction 7 May 2020
-------------------------- -------------------------------------------
f) Place of the transaction Off-market
-------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Peter Fitzwilliam
-------------------------- -----------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/status Peter Fitzwilliam Chief Financial
Officer
-------------------------- -----------------------------------------------
b) Initial notification 7 Ma y 2020
/Amendment
-------------------------- -----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name The Mission Group plc
-------------------------- -----------------------------------------------
b) LEI 213800L567CF3Z6GPZ03
-------------------------- -----------------------------------------------
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, Ordinary shares of 10 pence each
type of instrument
Identification code GB00B11FD453
-------------------------- -----------------------------------------------
b) Nature of the transaction Pursuant to performance bonus scheme
-------------------------- -----------------------------------------------
c) Price(s) and volume(s)
Price(s) Volume(s)
Peter Fitzwilliam Nil price 34,450
----------- ----------
-------------------------- -----------------------------------------------
d) Aggregated information
- Aggregated volume 34,450
- Price Nil price
-------------------------- -----------------------------------------------
e) Date of the transaction 7 May 2020
-------------------------- -----------------------------------------------
f) Place of the transaction Off-market
-------------------------- -----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Barry Cook
-------------------------- ----------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Barry Cook Executive Director
-------------------------- ----------------------------------------
b) Initial notification 7 Ma y 2020
/Amendment
-------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name The Mission Group plc
-------------------------- ----------------------------------------
b) LEI 213800L567CF3Z6GPZ03
-------------------------- ----------------------------------------
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, Ordinary shares of 10 pence each
type of instrument
Identification code GB00B11FD453
-------------------------- ----------------------------------------
b) Nature of the transaction Pursuant to the earn out obligations
-------------------------- ----------------------------------------
c) Price(s) and volume(s)
Price(s) Volume(s)
Barry Cook Nil price 57,522
----------- ----------
-------------------------- ----------------------------------------
d) Aggregated information
- Aggregated volume 57,522
- Price Nil price
-------------------------- ----------------------------------------
e) Date of the transaction 7 May 2020
-------------------------- ----------------------------------------
f) Place of the transaction Off-market
-------------------------- ----------------------------------------
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
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of this information may apply. For further information, please
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END
DSHKZGMKKMKGGZM
(END) Dow Jones Newswires
May 11, 2020 11:58 ET (15:58 GMT)
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