Blackbird PLC Pricing of LTIP units

RNS Number : 6111R

Blackbird PLC

31 December 2024

 

31 December 2024

 

Blackbird plc

(the "Company")

 

Pricing of LTIP units

 

Blackbird plc (AIM: BIRD), the technology licensor, developer and seller of market-leading cloud native video editing platform, Blackbird, and developer of the online collaborative video editing and content creation platform, elevate.io, announces the pricing of the units to be issued under the Company's Long Term Incentive Plan (the "LTIP") for the latest LTIP period.

 

Under the LTIP, which was extended following the approval of shareholders at the 2024 Annual General Meeting, LTIP 1 and LTIP 2 units are designed to allow members of the Company's management team to share in improving shareholder value above a base share price. The LTIP is designed to reward specific members of the management team through cash payments for actions 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.

 

Full details of the LTIP scheme can be found on the Company's website under the Investor's section (see https://www.blackbird.video/investor-relations/).

 

The Remuneration Committee has set the hurdle price of the LTIP 1 and LTIP 2 units for the current LTIP Period, of 1 January 2025 to 31 December 2027, at 15p and 20p respectively.

 

Contacts:

 

Blackbird plc                                                                                                             Tel: [phone]

Ian McDonough, Chief Executive Officer

Stephen White, Chief Operating and Financial Officer

 

Allenby Capital Limited (Nominated Adviser and Broker)                                Tel: [phone]

Nick Naylor / Piers Shimwell (Corporate Finance)

Amrit Nahal / Guy McDougall (Equity Sales and Corporate Broking)

 

About Blackbird plc

 

Blackbird plc operates in the fast-growing SaaS, Media and Entertainment and content creation markets.  Blackbird plc's patented technology allows for frame accurate navigation, playback, viewing and editing in the cloud and it has two products.

 

Blackbird^Ⓡ a market leading suite of cloud-native computing applications, is used by rights holders, broadcasters, sports and news video specialists, live events and content owners, post production houses, other mass market digital video channels and corporations.

 

elevate.io is the company's new online collaborative content creation platform currently in general release. elevate.io is built using Blackbird's core technology and is aimed at professional teams and the fast growing Creator Economy.

 

Blackbird plc also licences its core video technology, under its 'Powered by Blackbird' licensing model, enabling video companies to accelerate their path to true cloud business models.

 

www.blackbird.video www.linkedin.com/company/blackbird-cloud www.twitter.com/blackbirdcloud www.facebook.com/blackbirdplc www.youtube.com/c/blackbirdcloud

www.elevate.io

 

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END

 

 

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