RNS Number : 5693B

Blackbird PLC

09 October 2020

9 October 2020

Blackbird plc

(the "Company")

Issue of LTIP units and grant of share options

Blackbird plc (AIM: BIRD), developer and seller of market-leading cloud video platform Blackbird, announces that it has today issued units to Directors of the Company, pursuant to the Company's Long Term Incentive Plan which was approved by shareholders at the 2019 Annual General Meeting. Details of the number of units being issued to each Director are set out below.

Under the Long Term Incentive Plan, LTIP 1 and LTIP 2 units are designed to allow individuals to share in improving shareholder value above a base share price (15p and 20p for LTIP 1 and LTIP 2 respectively). The Long Term Incentive Plan is designed to reward specific individuals through cash payments for activities that drive value creation for shareholders. Each of LTIP 1 and LTIP 2 consists of 5,000 LTIP units that collectively form a pool and the value of each pool is calculated at 5% of the increase in the Company's share price above the base share price for each pool, respectively.

 Name                Title                LTIP1 units     LTIP2 units   LTIP1 units   LTIP2 units 
                                         being issued    being issued     held post 
------------------  -----------------  --------------  --------------  ------------ 
                                                                                        held post 
------------------  -----------------  --------------  --------------  ------------  ------------ 
                     Chief Executive 
 Ian McDonough        Officer                    82.2           191.9         357.2         191.9 
 Stephen Streater    R&D Director                49.3           115.1          49.3         115.1 
                     Chief Operating 
                      and Financial 
 Stephen White        Officer                    49.3           115.1          49.3         115.1 

In total 221.9 LTIP1 units and 518.1 LTIP2 units are being issued to Directors and senior management. The units vest at the end of the current LTIP period which is scheduled to be 31 December 2021. Details of the Long Term Incentive Plan are set out in the investors section of the Company's website.

In addition, the following options over the Company's ordinary shares of 0.8 pence (the "Ordinary Shares") have today been granted to the non-executive directors of the Company as part of an employee-wide share option grant over 1,515,000 unissued Ordinary Shares:

 Name              Title                            Number of   Exercise   Number of options 
                                              options granted      price     held post grant 
----------------  ------------------------  -----------------  ---------  ------------------ 
 Andrew Bentley    Non-Executive Chairman             100,000      18.5p             960,000 
 Dawn Airey        Non-Executive Director              75,000      18.5p             560,000 
 John Honeycutt    Non-Executive Director              75,000      18.5p             325,000 
 David Main        Non-Executive Director              75,000      18.5p           1,835,000 

The options were granted under the Company's EMI share option scheme and subject to certain performance conditions.

Following the above grant of options there are a total of 12,330,000 share options over Ordinary Shares held by Directors and PDMRs of the Company, representing 3.66% of the Company's current issued share capital of 337,054,092 Ordinary Shares.

The FCA notifications in respect of the above grant of the options, made in accordance with the requirements of the EU Market Abuse Regulation, are appended below.


   Blackbird plc                                  Tel: +44 (0)20 8879 7245 
 Ian McDonough, Chief Executive Officer 
 Stephen White, Chief Operating and Financial 
 Allenby Capital Limited (Nominated Adviser     Tel: +44 (0)20 3328 5656 
  and Broker) 
 Nick Naylor / Asha Chotai (Corporate 
 Amrit Nahal (Equity Sales) 

About Blackbird p lc

Blackbird operates in the fast-growing SaaS and cloud video market, and has created the world's most advanced suite of cloud-native computing applications for video, all underpinned by its lightning-fast codec. Blackbird's patented technology allows for frame accurate navigation, playback, viewing and editing in the cloud. Blackbird underpins multiple applications, which are used by rights holders, broadcasters, sports and news video specialists, esports, live events and content owners, post-production houses, other mass market digital video channels and corporations.

Since it is cloud-native, Blackbird removes the need for costly, high end workstations and can be used from almost anywhere on almost any device. It also allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for social media distribution, and ultimately results in much more effective monetisation.

Blackbird(R) is a registered trademark of Blackbird plc.



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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                               Andrew Bentley   Non-Executive Chairman 
                                          Dawn Airey       Non-Executive Director 
                                          John Honeycutt   Non-Executive Director 
                                          David Main       Non-Executive Director 
     --------------------------------  ------------------------------------------ 
 2    Reason for the notification 
 a)   Position/status                   See above 
     --------------------------------  ------------------------------------------ 
 b)   Initial notification /Amendment   Initial notification 
     --------------------------------  ------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
 a)   Name                              Blackbird plc 
     --------------------------------  ------------------------------------------ 
 b)   LEI                               2138006DWRVTIAVW3415 
     --------------------------------  ------------------------------------------ 
 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      Options over Ordinary Shares of 
       instrument, type of instrument    0.8p each 
       Identification code 
     --------------------------------  ------------------------------------------ 
 b)   Nature of the transaction         Grant of options over Ordinary Shares 
     --------------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)             Director           Volume   Exercise 
                                          Andrew Bentley    100,000      18.5p 
                                          Dawn Airey         75,000      18.5p 
                                          John Honeycutt     75,000      18.5p 
                                          David Main         75,000      18.5p 
     --------------------------------  ------------------------------------------ 
 d)   Aggregated information            n/a 
       - Aggregated volume 
       - Price 
     --------------------------------  ------------------------------------------ 
 e)   Date of the transaction           9 October 2020 
     --------------------------------  ------------------------------------------ 
 f)   Place of the transaction          Outside of a trading venue - grant 
                                         of options 
     --------------------------------  ------------------------------------------ 

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(END) Dow Jones Newswires

October 09, 2020 02:00 ET (06:00 GMT)

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