7digital Group PLC Grant of Options (4565N)

TIDM7DIG

RNS Number : 4565N

7digital Group PLC

09 August 2017

7digital Group plc

("7digital" or "the Company")

Grant of Options

7digital (AIM:7DIG), the B2B digital music and radio services company announces that on 7th August 2017 the Company granted a total of 2,480,000 options ("Options") over ordinary shares of 1 pence each ("Ordinary Shares") to certain persons discharging managerial responsibility ("PDMRs") and employees of the Company. The Options are nil paid and are exercisable at any time between 8(th) August 2018 and 7(th) August 2020. Half of the Options granted to the PDMR's will be exercisable subject to meeting certain future EBITDA performance targets.

The following PDMRs have been granted Options:

 
 Name                    Number  Proportion of Options   Total number 
                     of Options     granted subject to     of Options 
                        granted   performance criteria     held after 
                                                           this grant 
-----------------  ------------  ---------------------  ------------- 
 Simon Cole             200,000                    50%        776,722 
-----------------  ------------  ---------------------  ------------- 
 Matt Honey             200,000                    50%        400,000 
-----------------  ------------  ---------------------  ------------- 
 Pete Downton           200,000                    50%        593,177 
-----------------  ------------  ---------------------  ------------- 
 Paul Langworthy        200,000                    50%        550,223 
-----------------  ------------  ---------------------  ------------- 
 Ed Kershaw             200,000                    50%        300,000 
-----------------  ------------  ---------------------  ------------- 
 

In addition to the Options, the Company also granted Contingent Awards over 1,100,000 Ordinary Shares under a French Qualified Share Award Plan to a PDMR and other employees of the Company. The French Qualified Share Award Plan grants a Contingent Award over Ordinary Shares at nil value that vest on 8(th) August 2021. A proportion of the Contingent Award granted to the PDMR will be exercisable subject to meeting certain future EBITDA performance targets.

The following PDMR has been granted a Contingent Award under the French Qualified Share Award Plan:

 
 Name                        Number           Proportion of shares    Total number 
                          of shares       granted under Contingent       of shares 
                            granted   Award subject to performance      held under 
                   under Contingent                       criteria    a Contingent 
                              Award                                    Award after 
                                                                        this grant 
---------------  ------------------  -----------------------------  -------------- 
 Philippe 
  Decottignies              500,000                            20%         500,000 
---------------  ------------------  -----------------------------  -------------- 
 

Further information is set out in the PDMR disclosure tables below.

Enquiries

 
 7digital Group                                    020 7099 7777 
 Simon Cole, Chief Executive 
 Matt Honey, Chief Financial Officer 
  Holly Ashmore, PR Manager 
 
 
   finnCap (nominated adviser and 
   broker)                                         020 7220 0500 
 Geoff Nash / Carl Holmes / Simon 
  Hicks - Corporate Finance 
 Mia Gardner - Corporate Broking 
 
 
   Weber Shandwick (financial PR 
   agency) 
   Nick Oborne - [e-mail] 
   Tom Jenkins - TJenkins@ webershandwick.com 
 
 
   About 7digital (http://about.7digital.com)      020 7067 0000 
 

7digital is the global leader in end-to-end digital music solutions. The core of its business is the provision of robust and scalable technical infrastructure and extensive global music rights used to create music streaming and radio services for a diverse range of customers - including consumer brands, mobile carriers, broadcasters, automotive systems, record labels and retailers. 7digital also offers radio production and music curation services, editorial strategy and content management expertise.

7digital fosters industry growth and innovation by simplifying access to music for clients such as Onkyo, Global Radio and musical.ly. From years of being the largest independent producer of programming for the BBC, launching Radioplayer in multiple territories, and powering services for partners like HMV, Electric Jukebox and Panasonic, 7digital is perfectly positioned to lead innovation at the intersection of digital music and next-generation radio services.

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

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                             Simon Cole CEO 
                                        Matt Honey CFO 
                                        Pete Downton COO 
                                        Paul Langworthy PDMR 
                                        Philippe Decottignies PDMR 
                                        Ed Kershaw PDMR 
---  -------------------------------  -------------------------------------------- 
 2.   Reason for the Notification 
---  ----------------------------------------------------------------------------- 
 a)   Position/status                  See 1(a) above - all classified 
                                        as PDMRs of the Company 
---  -------------------------------  -------------------------------------------- 
 b)   Initial notification/Amendment   Initial notification 
---  -------------------------------  -------------------------------------------- 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ----------------------------------------------------------------------------- 
 a)   Name                             7digital Group plc 
---  -------------------------------  -------------------------------------------- 
 b)   LEI                              213800Z18A7JGS54KF43 
---  -------------------------------  -------------------------------------------- 
 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                   Options over ordinary shares 
       the Financial                    of 1p each ("Ordinary Shares") 
       instrument, type 
       of instrument 
--- 
      Identification                   GB00B0P1RP10 
       code 
---  -------------------------------  -------------------------------------------- 
 b)   Nature of the                    Issue of Options/Contingent 
       transaction                      Share Awards over Ordinary 
                                        Shares 
---  -------------------------------  -------------------------------------------- 
 c)   Price(s) and                     Simon Cole Price(s)   Volume(s) 
       volume(s)                        ---------  ---------- 
                                         0p         200,000 
                                        ---------  ---------- 
 
 
                                        Matt Honey Price(s)   Volume(s) 
                                        ---------  ---------- 
                                         0p         200,000 
                                        ---------  ---------- 
 
 
                                        Pete Downton Price(s)   Volume(s) 
                                        ---------  ---------- 
                                         0p         200,000 
                                        ---------  ---------- 
 
 
                                        Paul Langworthy Price(s)   Volume(s) 
                                        ---------  ---------- 
                                         0p         200,000 
                                        ---------  ---------- 
 
 
                                        Philippe Decottignies Price(s)   Volume(s) 
                                        ---------  ---------- 
                                         0p         500,000 
                                        ---------  ---------- 
 
 
                                        Ed Kershaw Price(s)   Volume(s) 
                                        ---------  ---------- 
                                         0p         200,000 
                                        ---------  ---------- 
---  -------------------------------  -------------------------------------------- 
 d)   Aggregated information:          See 4 (c) above 
        *    Aggregated volume 
 
 
        *    Price 
---  -------------------------------  -------------------------------------------- 
 e)   Date of the transaction          7th August 2017 
---  -------------------------------  -------------------------------------------- 
 f)   Place of the                     Outside a trading venue 
       transaction 
---  -------------------------------  -------------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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August 09, 2017 02:00 ET (06:00 GMT)