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Share Name Share Symbol Market Type Share ISIN Share Description
Lpa Group Plc LSE:LPA London Ordinary Share GB0007320806 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 89.50 85.00 94.00 89.50 89.50 89.50 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 19.5 -0.2 -0.4 - 11

LPA Group PLC Grant of Share Options

23/07/2020 4:31pm

UK Regulatory (RNS & others)


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RNS Number : 9348T

LPA Group PLC

23 July 2020

LPA GROUP PLC

("LPA" or the "Group")

Grant of Share Options

LPA Group Plc, the high reliability LED lighting and electro-mechanical system manufacturer, announces the award of share options (the "Share Options") under the LPA Group plc Performance Share Plan 2018 ("PSP 2018") to the following directors / PDMRs and other employees of the Group (the "Award Holders"), as follows:

 
 Director/PDMR      Position                     Number of   Exercise 
                                                  Options     Price 
 Paul Curtis        CEO                          30,000      63.17p 
                   ---------------------------  ----------  --------- 
 Chris Buckenham    CFO                          25,000      63.17p 
                   ---------------------------  ----------  --------- 
 John Hesketh       MD - LPA Lighting Systems    15,000      63.17p 
                   ---------------------------  ----------  --------- 
                    MD - LPA Connection 
 Jonathan Rowe       Systems                     15,000      63.17p 
                   ---------------------------  ----------  --------- 
 Subtotal                                        85,000      63.17p 
                                                ----------  --------- 
 
 Other employees                                 35,000      63.17p 
                                                ----------  --------- 
 Total Awards                                    120,000     63.17p 
                                                ----------  --------- 
 

Under the terms of the PSP, the Share Options may be exercised from 23 July 2023 until 22 July 2030. The Share Options are also subject to clawback and malus provisions.

It is the expectation of the Company that the LPA Employee Benefit Trust (the "EBT") will satisfy the awards when exercised. In the event that the EBT does not satisfy the awards when exercised, the Company will do so through an issue of new ordinary shares to the Award Holders.

As a result of the grant of the Share Options, the total number of options in place for directors and employees of LPA is as follows:

 
 Number of Options   Exercise Price 
   540,000            36.00p 
                    --------------- 
   100,000            32.00p 
                    --------------- 
   185,000            49.00p 
                    --------------- 
   150,000           104.83p 
                    --------------- 
   255,000           109.33p 
                    --------------- 
   120,000            63.17p 
                    --------------- 
 1,350,000 
                    --------------- 
 

The grants of the Share Options to the directors and PDMRs named above are deemed to be related party transactions for the purposes of Rule 13 of the AIM Rules (the "Transaction"). The directors independent of the Transaction, being Len Porter, Gordon Wakefield and Peter Pollock consider, having consulted with the Company's Nominated Adviser, that the terms of the Transaction are fair and reasonable insofar as its shareholders are concerned.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 
 Enquires:                              www.lpa-group.com       Tel: 
-------------------------------------  ---------------------   -------------- 
 
 LPA Group Plc 
 Peter Pollock                          Chairman                07881 626123 
 Paul Curtis                            CEO                     01799 512858 
 Chris Buckenham                        CFO                     01799 512859 
 
 Cairn Financial Advisers               (Nominated Adviser)     020 7213 0880 
 James Caithie / Tony Rawlinson 
 finnCap                                (Broker)                020 7220 0500 
 Ed Frisby / Teddy Whiley (Corporate 
  Finance) 
  Tim Redfern / Tim Harper (ECM 
  & Sales) 
 
 
 1     Details of the person discharging managerial responsibilities/person 
        closely associated 
 a)    Name                            a) Paul Curtis 
                                        b) Chris Buckenham 
                                        c) John Hesketh 
                                        d) Jonathan Rowe 
      -------------------------  ----------------------------------------------- 
 2     Reason for the notification 
      -------------------------------------------------------------------------- 
 a)    Position/status                 a) CEO 
                                        b) CFO 
                                        c) MD - LPA Lighting Systems 
                                        d) MD - LPA Connection Systems 
      -------------------------  ----------------------------------------------- 
 b)    Initial notification       Initial Notification 
        /Amendment 
      -------------------------  ----------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------- 
 a)    Name                       LPA Group plc 
      -------------------------  ----------------------------------------------- 
 b)    LEI                          2138007S67YLDN6CEF21 
      -------------------------  ----------------------------------------------- 
 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                Options over ordinary shares of 10p each 
        of the financial 
        instrument,                GB0007320806 
        type of instrument 
        Identification 
        code 
      -------------------------  ----------------------------------------------- 
 b)    Nature of the              Grant of share options 
        transaction 
      -------------------------  ----------------------------------------------- 
 c)    Price(s) and                        Price(s)                Volume(s) 
        volume(s) 
      -------------------------  ----------------------------  ----------------- 
                                         a) Exercise price:           a) 30,000 
                                               63.17 p                b) 25,000 
                                         b) Exercise price:           c) 15,000 
                                               63.17 p                d) 15,000 
                                         c) Exercise price: 
                                               63.17 p 
                                         d) Exercise price: 
                                               63.17 p 
      -------------------------  ----------------------------  ----------------- 
       Aggregated 
 d)     information 
   - Aggregated 
    volume 
   - Price                         85,000 
                                    63.17p 
 ------------------------------  ----------------------------------------------- 
 e)    Date of the                23 July 2020 
        transaction 
      -------------------------  ----------------------------------------------- 
 f)    Place of the               London Stock Exchange (XLON) 
        transaction 
      -------------------------  ----------------------------------------------- 
 g)    Additional                 N/A 
        Information 
      -------------------------  ----------------------------------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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