TIDMBIRD
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
issue
------------------ ----------------- -------------- -------------- ------------
held post
issue
------------------ ----------------- -------------- -------------- ------------ ------------
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.
Contacts:
Blackbird plc Tel: +44 (0)20 8879 7245
Ian McDonough, Chief Executive Officer
Stephen White, Chief Operating and Financial
Officer
Allenby Capital Limited (Nominated Adviser Tel: +44 (0)20 3328 5656
and Broker)
Nick Naylor / Asha Chotai (Corporate
Finance)
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.
Websites
www.blackbird.video
Social media
www.linkedin.com/company/blackbird-cloud
www.twitter.com/blackbirdcloud
www.facebook.com/blackbirdplc
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
Price
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
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