Universe Group PLC Grant of Options (9396O)

TIDMUNG

RNS Number : 9396O

Universe Group PLC

25 August 2017

25 August 2017

AIM: UNG.L

Universe Group plc

("Universe" or the "Company")

Grant of Options

Universe Group plc (AIM: UNG.L), a leading developer and supplier of point of sale, payment and on-line loyalty systems announces that the Remuneration Committee has today approved the grant of three tranches of share options ("Options") to subscribe for ordinary shares of 1p each in the Company ("Shares"). These will be granted to Daryl Paton, an executive director ("Director").

Tranche 1

A total of 500,000 Options will be granted under Tranche 1 to the Director.

These Options will have an exercise price of 9.75p and may be exercised only if the Company's share price is at or above an average of 14.25 pence per share for the four week period following the announcement of the Company's results for the year ending 31 December 2018.

Tranche 2

A further 717,000 Options will be conditionally granted to the Director under Tranche 2. These Options will also have an exercise price of 9.75p and may be exercised only if the Company's share price is at or above an average of 21p for the four week period following the announcement of the Company's results for the year ending 31 December 2018. The grant of these Options is conditional on the Director making market purchases of Shares to the value of a percentage of his gross annual salary by an agreed date.

Tranche 3

A further 717,000 Options will be conditionally granted to the Director under Tranche 3. These Options will have an exercise price of 9.75p and may be exercised only if the Company's share price is at or above an average of 32p for the four week period following the announcement of the Company's results for the year ended 31 December 2018. The grant of these Options is conditional on the Director making market purchases of Shares to a value of a percentage of his gross cash bonus for the financial years ended 31 December 2017 and 2018 within one month of such bonuses becoming payable.

All Options are subject to change of control provisions and expire on the tenth anniversary of grant.

Following the grants of all these Options the Director would have the following Options:

 
 Director       Options     Scheme granted     Vesting    Total Options 
                 granted     under:             period     now held 
-------------  ----------  -----------------  ---------  -------------- 
                            EMI Share Option 
 Daryl Paton    1,934,000    Scheme            As above     1,934,000 
-------------  ----------  -----------------  ---------  -------------- 
 

Following the grants, a total of 25,828,000 Options (representing approximately 11.12 per cent. of the Company's enlarged issued share capital) will remain outstanding.

For further information:

 
Universe Group plc               T: [phone] 
 Robert Goddard, Chairman         510 
 Jeremy Lewis, Chief Executive 
 
finnCap                         T: [phone] 
 Stuart Andrews (Corporate       0500 
 Finance) 
 Richard Chambers (Corporate 
 Broking) 
IFC Advisory                    T: [phone] 
 Tim Metcalfe                    9781 
 Heather Armstrong 
 

About Universe Group plc:

Universe provides some of the world's leading retailers with point of sale, payment and loyalty solutions. The Company's solutions are based on its own proprietary software and are offered out of the cloud on a software as a service model with its data centres processing in excess of 5 billion transactions every year. For further information, please see www.universeplc.com.

 
 1.   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  -------------------------------------------------------------------- 
 a)   Name                             Daryl Paton 
---  -------------------------------  ----------------------------------- 
 2.   Reason for the Notification 
---  -------------------------------------------------------------------- 
 a)   Position/status                  Chief Financial Officer 
---  -------------------------------  ----------------------------------- 
 b)   Initial notification/Amendment   Initial notification 
---  -------------------------------  ----------------------------------- 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  -------------------------------------------------------------------- 
 a)   Name                             Universe Group plc 
---  -------------------------------  ----------------------------------- 
 b)   LEI                              n/a 
---  -------------------------------  ----------------------------------- 
 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                   Ordinary shares of 1 pence 
       the Financial 
       instrument, type 
       of instrument 
--- 
      Identification                   GB0009483594 
       code 
---  -------------------------------  ----------------------------------- 
 b)   Nature of the                    Grant of options 
       transaction 
---  -------------------------------  ----------------------------------- 
 c)   Price(s) and                      Price(s)   Volume(s) 
       volume(s)                        ---------  ---------- 
                                         9.75p      500,000 
                                          9.75p      717,000 
                                          9.75p      717,000 
                                        ---------  ---------- 
---  -------------------------------  ----------------------------------- 
 d)   Aggregated information: 
        *    Aggregated volume           Tranche 1: 500,000 ordinary 
                                         shares of 1 pence each (granted) 
                                         at 9.75 pence per ordinary 
        *    Price                       share 
 
                                         Tranche 2: 717,000 ordinary 
                                         shares of 1 pence each (granted) 
                                         at 9.75 pence per ordinary 
                                         share 
 
                                         Tranche 3: 717,000 ordinary 
                                         shares of 1 pence each (granted) 
                                         at 9.75 pence per ordinary 
                                         share 
---  -------------------------------  ----------------------------------- 
 e)   Date of the transaction          25 August 2017 
---  -------------------------------  ----------------------------------- 
 f)   Place of the                     London Stock Exchange, AIM 
       transaction                      Market (XLON) 
---  -------------------------------  ----------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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August 25, 2017 02:00 ET (06:00 GMT)