Sumo Group PLC Issue of LTIP Awards (3314H)
March 12 2018 - 3:00AM
UK Regulatory
TIDMSUMO
RNS Number : 3314H
Sumo Group PLC
12 March 2018
12 March 2018
Sumo Group plc
("Sumo" or "the Group" or "the Company")
(AIM: SUMO)
Issue of LTIP Awards
Sumo announces that on 9 March 2018 awards were made over
ordinary shares of GBP0.01 each ("Ordinary Shares") under The Sumo
Group plc Long Term Incentive Plan (the "LTIP")) to the following
persons discharging managerial responsibilities ("PDMRs") and to
other senior management of Sumo ("LTIP Awards"):
PDMR Number of Ordinary Shares
subject to LTIP Award
-------------- --------------------------
Carl Cavers 1,200,000
-------------- --------------------------
David Wilton 885,000
-------------- --------------------------
In addition to the awards to PDMRs, LTIP Awards over a total of
5,806,246 Ordinary Shares were made to senior managers. This total
is 806,246 higher than the figure referred to in Sumo's Admission
Document as it now includes individuals who joined the Group on its
acquisition of the Newcastle studio of CCP in January this year and
certain other key individuals.
Pursuant to the LTIP Awards, Sumo has on 9 March 2018 issued a
total of 4,618,735 Ordinary Shares to Aghoco 1337 Limited (the "New
Shares"), the trustee of the Sumo Group plc Employee Benefit Trust
(the "EBT") to be held in order to satisfy the element of the
proposed LTIP Awards which are to be held under a joint ownership
arrangement.
The LTIP Awards have been made for nil cost. The awards made to
the PDMRs and a group of other senior managers are subject to
cumulative adjusted EPS and TSR based targets measured over the
Company's 2018, 2019 and 2020 financial years. The balance of the
LTIP awards are subject to the EPS target alone. Subject to
achievement of these performance targets, and the participants
remaining in employment with Sumo, the LTIP Awards will vest in
three years' time in 2021, with 50% of the vested amount
exercisable immediately and the remaining 50% after four years in
2022.
Application will be made to the London Stock Exchange for the
admission of the New Shares. The New Shares are expected to be
admitted to trading on or around 16 March 2018. Following the
admission, the Company will have 149,618,735 Ordinary Shares in
issue. All dividend and voting rights attaching to the Ordinary
Shares issued to the EBT are waived whilst unvested.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
Details of the person discharging
1 managerial responsibilities
/ person closely associated
--- ---------------------------------------------
a) Name Carl Cavers
--- ----------------- --------------------------
2 Reason for the notification
--- ---------------------------------------------
a) Position/status CEO
--- ----------------- --------------------------
b) Initial Initial notification
notification
/Amendment
--- ----------------- --------------------------
3 Details of the issuer, emission
allowance market participant,
auction platform, auctioneer
or auction monitor
--- ---------------------------------------------
a) Name Sumo Group plc
--- ----------------- --------------------------
b) LEI 213800LTZXJCG5QKIM14
--- ----------------- --------------------------
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 Ordinary shares of
of the GBP0.01
financial
instrument, SUMO
type of
instrument
Identification
code
--- ----------------- --------------------------
b) Nature Issue of a nil-cost
of the award under the LTIP
transaction
--- ----------------- --------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) --------- ----------
0p 1,200,000
--------- ----------
--- ----------------- --------------------------
d) Aggregated
information N/A - single transaction
- Aggregated
volume
- Price
--- ----------------- --------------------------
e) Date of 9 March 2018
the transaction
--- ----------------- --------------------------
f) Place of London Stock Exchange,
the transaction AIM
--- ----------------- --------------------------
Details of the person discharging
1 managerial responsibilities
/ person closely associated
--- ---------------------------------------------
a) Name David Wilton
--- ----------------- --------------------------
2 Reason for the notification
--- ---------------------------------------------
a) Position/status CFO
--- ----------------- --------------------------
b) Initial Initial notification
notification
/Amendment
--- ----------------- --------------------------
3 Details of the issuer, emission
allowance market participant,
auction platform, auctioneer
or auction monitor
--- ---------------------------------------------
a) Name Sumo Group plc
--- ----------------- --------------------------
b) LEI 213800LTZXJCG5QKIM14
--- ----------------- --------------------------
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 Ordinary shares of
of the GBP0.01
financial
instrument, SUMO
type of
instrument
Identification
code
--- ----------------- --------------------------
b) Nature Issue of a nil-cost
of the award under the LTIP
transaction
--- ----------------- --------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) --------- ----------
0p 885,000
--------- ----------
--- ----------------- --------------------------
d) Aggregated
information N/A - single transaction
- Aggregated
volume
- Price
--- ----------------- --------------------------
e) Date of 9 March 2018
the transaction
--- ----------------- --------------------------
f) Place of London Stock Exchange,
the transaction AIM
--- ----------------- --------------------------
Enquiries:
Sumo Group plc Tel: +44 (0)114 242
Carl Cavers (CEO) 6766
Zeus Capital Limited
Richard Darlington / Nick Cowles / Andrew Tel: +44 (0) 161 831
Jones (Corporate Finance) 1512
Ben Robertson / John Goold (Corporate Broking) Tel: +44 (0) 20 3829
5000
Belvedere Communications Limited Tel: +44 (0) 20 3567
Cat Valentine / Kim Van Beeck 0510
This information is provided by RNS
The company news service from the London Stock Exchange
END
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