Sumo Group PLC Awards under the Share Incentive Plan to PDMRs (6830T)

TIDMSUMO

RNS Number : 6830T

Sumo Group PLC

22 July 2020

22 July 2020

Sumo Group plc

("Sumo Group" or the "Company")

Awards under The Sumo Group plc Share Incentive Plan to Executive Directors

The Company announces that it received notification on 21 July 2020 from Link Market Services Trustees Limited (the "SIP Trustee") that the SIP Trustee awarded ordinary shares of 1p each in the Company ("Ordinary Shares") to Executive Directors under the Sumo Group plc Share Incentive Plan (the "SIP") on 20 July 2020.

Under the terms of the SIP, each eligible employee can contribute from salary to purchase Partnership Shares and the Company matches these by awarding one Matching Share for each three Partnership Shares purchased.

In respect of the Matching Shares, the SIP award has been satisfied by the issue of 918 new Ordinary Shares to the SIP Trustee at a subscription price of 1p per share, being the nominal value of the shares. The SIP Shares shall rank equally with the existing issued shares of the Company. The SIP Shares will be allocated out of the shares which were the subject of the block listing announced on 5 July 2018.

In respect of the Partnership Shares, the SIP Trustee has purchased (using the cash contributions made by the Executive Directors) a total of 2,754 Ordinary Shares at a price of 196 p per share.

PDMR Dealing

As participants in the SIP, the Executive Directors are deemed to have an interest in the shares awarded to them and held by the SIP Trustee. Details of the awards under the SIP to the Executive Directors are set out below:

 
                                                           Total Share      % of Issued 
  Executive       Partnership    Matching          Total       Holding    Share Capital 
  Director             Shares      Shares    Share Award    Post Award 
 Carl Cavers              918         306          1,224     4,651,340             2.92 
                -------------  ----------  -------------  ------------  --------------- 
 David Wilton             918         306          1,224       336,933             0.21 
                -------------  ----------  -------------  ------------  --------------- 
 Paul Porter              918         306          1,224     4,505,148             2.83 
                -------------  ----------  -------------  ------------  --------------- 
 

The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014:

 
 1.   Details of PDMR / person closely associated 
 a)   Name                    (i) Carl Cavers 
                               (ii) David Wilton 
                               (iii) Paul Porter 
     ----------------------  -------------------------------------------------- 
 2.   Reason for the notification 
     -------------------------------------------------------------------------- 
 a)   Position /              (i) Chief Executive Officer 
       status                  (ii) Chief Financial Officer 
                               (iii) Chief Operating Officer 
     ----------------------  -------------------------------------------------- 
 b)   Initial notification    Initial notification 
       /amendment 
     ----------------------  -------------------------------------------------- 
 3.   Details of the issuer 
     -------------------------------------------------------------------------- 
 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 1p each 
       of the financial 
       instrument 
     ----------------------  -------------------------------------------------- 
 b)   Identification          ISIN for Sumo Group plc: GB00BD3HV384 
       code of the 
       Financial Instrument 
     ----------------------  -------------------------------------------------- 
 c)   Nature of the           Acquisition of Ordinary Shares in Sumo Group 
       transaction             plc by the SIP Trustees pursuant to the SIP 
     ----------------------  -------------------------------------------------- 
 d)   Price(s) and            Price                                   Volume 
       volume(s)                      (i) Partnership Shares 196 
                                       p                               918 
                                                 Matching Shares 0 p   306 
                                      (ii) Partnership Shares 196 
                                       p                               918 
                                                 Matching Shares 0 p   306 
                                      (iii) Partnership Shares 
                                       196 p                           918 
                                                 Matching Shares 0 p   306 
     ----------------------  -------------------------------------------------- 
 e)   Aggregated              N/A 
       information 
       - Aggregated 
       volume 
       - Price 
     ----------------------  -------------------------------------------------- 
 f)   Date of the             20 July 2020 
       transaction 
     ----------------------  -------------------------------------------------- 
 g)   Place of the            Partnership Shares - London Stock Exchange (XLON) 
       transaction             Matching Shares - off market 
     ----------------------  -------------------------------------------------- 
 
 
 Enquiries: 
 
 Sumo Group plc                            Via Belvedere Communications 
 Carl Cavers, Chief Executive Officer             Tel: [phone] 
                                                                    078 
 David Wilton, Chief Financial Officer 
 
 Zeus Capital Limited (Nominated Adviser 
  & Joint Broker) 
 Nick Cowles / Andrew Jones                        Tel: [phone] 
                                                                   1512 
 Ben Robertson / John Goold                        Tel: [phone] 
                                                                   5000 
 
 Investec Corporate & Investment Banking 
  (Joint Broker) 
 David Flin / Bruce Garrow                         Tel: [phone] 
                                                                   5970 
 
 Belvedere Communications Limited 
 Cat Valentine                                    Tel: [phone] 
                                                                    078 
 Keeley Clarke                                    Tel: [phone] 
                                                                    525 
 Llew Angus                                       Tel: [phone] 
                                                                    147 
                                                 [e-mail] 
 

About Sumo Group plc

Sumo Group's businesses provide acclaimed development and design services to the video games and entertainment industries from studios in the UK, India, and Canada.

Sumo Digital, as the Group's primary business, is one of the UK's largest independent developers of AAA-rated video games, having studios in Sheffield, Newcastle, Nottingham, Leamington Spa, Warrington and Pune, India. The business has acquired three studios since IPO, which operate under their own names, BAFTA award-winning The Chinese Room in Brighton, Red Kite Games in Leeds and Lab42 in Leamington Spa. Sumo Digital provides turnkey and co-development solutions to a global blue-chip client base.

Atomhawk is a multi-award-winning visual design company, with studios in Newcastle and in Vancouver (Canada), servicing the games, film and visual effects industries.

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 [e-mail] or visit www.rns.com.

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July 22, 2020 02:00 ET (06:00 GMT)