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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Ten Lifestyle Group Plc | LSE:TENG | London | Ordinary Share | GB00BF188X60 | ORD 0.1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 5.75 | 8.55% | 73.00 | 72.00 | 74.00 | 74.00 | 69.00 | 69.00 | 112,675 | 16:35:12 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Business Services, Nec | 66.66M | 4.55M | 0.0543 | 13.63 | 62.02M |
From Apr 2019 to Apr 2024
TIDMTENG
RNS Number : 6031S
Ten Lifestyle Group PLC
10 July 2020
10 July 2020
Ten Lifestyle Group plc
("Ten" or the "Group")
Share Option Grants / PDMR Dealing
Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled global concierge platform for the world's wealthy and mass affluent, announces a second initiative whereby the Group has granted share options in exchange for voluntary salary sacrifice.
Background
The Group's business model derives its revenue substantially from service delivery rather than conversion of bookings.
As outlined in our Half-year Report on 14 May 2020, we continue to generate revenue by developing services relevant to our members, the customers of our contracted corporate clients, by adapting to our member's changing needs across each market throughout the various phases of the COVID-19 pandemic.
Given the ongoing uncertainty, we are continuing to drive efficiencies and prudently manage cost in the business. This includes implementing a second voluntary salary sacrifice initiative in exchange for share options, as detailed below.
Cash at the end of H1 2020 (February 2020) was GBP 9.6m. M aintaining healthy corporate revenue alongside prudent cost management, whilst continuing investment in the technology platform, has enabled us to broadly maintain cash at this level at the end of June 2020, despite very low levels of commission from suppliers(1) .
(1) Ten's revenue from its supplier base, such as hotels, airlines, and event promoters which sometimes pay commission to Ten constituted 12% of Net Revenue for the 2019 financial year, as reported in the 2019 Annual Report and Accounts.
Share Option Grants and PDMR Dealings
On 30 March 2020, the Group announced a salary sacrifice initiative whereby it had granted a total of 3,708,966 options over ordinary shares of 0.1p each ("Ordinary Shares").
As part of the Group's continued cost-saving measures, a second salary sacrifice initiative has been offered to the Group's employees and contractors.
Accordingly, on 9 July 2020, the Group granted options over a total of 1,343,639 Ordinary Shares with an exercise price of GBP1.20, exercisable for up to three years from the date of grant (the "Options"), to certain employees and contractors of the Group including 'persons discharging managerial responsibilities' ("PDMRs") as listed below. For every GBP1 of salary certain employees and contractors forego over a 4-month period they will receive three Options.
The exercise price and number of Options granted have been determined using the Black Scholes model for option pricing to ensure that the total economic value of these Options is equal to the value of the total salary foregone.
Over 80 individuals have chosen to participate in the second salary sacrifice initiative, including the PDMRs listed below. The total cash saving to the Group over the 4-month period will be GBP0.5m.
Hot Features
Premium
PDMR Position Number of new Resulting total options
Options granted held over Ordinary
Shares
Chief Executive
Alex Cheatle Officer 149,500 1,232,375
------------------------- ----------------- ------------------------
Group Chief Operational
Officer and Chief
Executive Officer
Andrew Long (Asia) 135,787 810,436
------------------------- ----------------- ------------------------
Client Services
Sarah Hornbuckle Director 36,005 251,721
------------------------- ----------------- ------------------------
Chief Financial
Alan Donald Officer 58,200 316,908
------------------------- ----------------- ------------------------
Toby Gauvain President 87,500 444,167
------------------------- ----------------- ------------------------
The notification below, made in accordance with the Market Abuse Regulation, provides further details in relation to these PDMR dealings.
For further information, please visit https://www.tengroup.com/ or contact:
Ten Lifestyle Group Plc
Alex Cheatle, Chief Executive Officer +44 (0)20 7850
Alan Donald, Chief Financial Officer 2796
Peel Hunt LLP, Nominated Advisor and Broker
Edward Knight
George Sellar +44 (0) 20 7418
Nick Prowting 8900
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Alex Cheatle
--------------------------------- -------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------------------- -------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
a) Name Ten Lifestyle Group Plc
--------------------------------- -------------------------------------------
b) LEI 213800YK94ZUOJUMN686
--------------------------------- -------------------------------------------
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 the Options over Ordinary shares of 0.1p
financial instrument, each
type of instrument
--------------------------------- -------------------------------------------
Identification code ISIN: GB00BF188X60
--------------------------------- -------------------------------------------
b) Nature of the transaction Issue of Options
--------------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---- --------------------------------- ---------------------- ----------------
Exercise price
of GBP1.20 149,500
------------------------------------------------------------- ----------------
d) Aggregated information
---------------------------------------------------------- ------------------
- Aggregated volume 149,500
--------------------------------- ------------------------------------------------
- Price NA
--------------------------------- ------------------------------------------------
e) Date of the transaction 9 July 2020
--------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Andrew Long
--------------------------------- -------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------
a) Position/status Group Chief Operational Officer and
Chief Executive Officer (Asia)
--------------------------------- -------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
a) Name Ten Lifestyle Group Plc
--------------------------------- -------------------------------------------
b) LEI 213800YK94ZUOJUMN686
--------------------------------- -------------------------------------------
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 the Options over Ordinary shares of 0.1p
financial instrument, each
type of instrument
--------------------------------- -------------------------------------------
Identification code ISIN: GB00BF188X60
--------------------------------- -------------------------------------------
b) Nature of the transaction Issue of Options
--------------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---- --------------------------------- ---------------------- ----------------
Exercise price
of GBP1.20 135,787
------------------------------------------------------------- ----------------
d) Aggregated information
---------------------------------------------------------- ------------------
- Aggregated volume 135,787
--------------------------------- ------------------------------------------------
- Price NA
--------------------------------- ------------------------------------------------
e) Date of the transaction 9 July 2020
--------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Sarah Hornbuckle
--------------------------------- -------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------
a) Position/status Client Services Director
--------------------------------- -------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
a) Name Ten Lifestyle Group Plc
--------------------------------- -------------------------------------------
b) LEI 213800YK94ZUOJUMN686
--------------------------------- -------------------------------------------
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 the Options over Ordinary shares of 0.1p
financial instrument, each
type of instrument
--------------------------------- -------------------------------------------
Identification code ISIN: GB00BF188X60
--------------------------------- -------------------------------------------
b) Nature of the transaction Issue of Options
--------------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---- --------------------------------- ---------------------- ----------------
Exercise price
of GBP1.20 36,005
------------------------------------------------------------- ----------------
d) Aggregated information
---------------------------------------------------------- ------------------
- Aggregated volume 36,005
--------------------------------- ------------------------------------------------
- Price NA
--------------------------------- ------------------------------------------------
e) Date of the transaction 9 July 2020
--------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Alan Donald
--------------------------------- -------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------
a) Position/status Chief Finance Officer
--------------------------------- -------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
a) Name Ten Lifestyle Group Plc
--------------------------------- -------------------------------------------
b) LEI 213800YK94ZUOJUMN686
--------------------------------- -------------------------------------------
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 the Options over Ordinary shares of 0.1p
financial instrument, each
type of instrument
--------------------------------- -------------------------------------------
Identification code ISIN: GB00BF188X60
--------------------------------- -------------------------------------------
b) Nature of the transaction Issue of Options
--------------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---- --------------------------------- ---------------------- ----------------
Exercise price
of GBP1.20 58,200
------------------------------------------------------------- ----------------
d) Aggregated information
---------------------------------------------------------- ------------------
- Aggregated volume 58,200
--------------------------------- ------------------------------------------------
- Price NA
--------------------------------- ------------------------------------------------
e) Date of the transaction 9 July 2020
--------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Toby Gauvain
--------------------------------- -------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------
a) Position/status President
--------------------------------- -------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
a) Name Ten Lifestyle Group Plc
--------------------------------- -------------------------------------------
b) LEI 213800YK94ZUOJUMN686
--------------------------------- -------------------------------------------
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 the Options over Ordinary shares of 0.1p
financial instrument, each
type of instrument
--------------------------------- -------------------------------------------
Identification code ISIN: GB00BF188X60
--------------------------------- -------------------------------------------
b) Nature of the transaction Issue of Options
--------------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---- --------------------------------- ---------------------- ----------------
Exercise price
of GBP1.20 87,500
------------------------------------------------------------- ----------------
d) Aggregated information
---------------------------------------------------------- ------------------
- Aggregated volume 87,500
--------------------------------- ------------------------------------------------
- Price NA
--------------------------------- ------------------------------------------------
e) Date of the transaction 9 July 2020
--------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- -------------------------------------------
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
DSHSSEESUESSEFW
(END) Dow Jones Newswires
July 10, 2020 02:00 ET (06:00 GMT)
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