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Blackbird plc announced that certain Board members and management conditionally subscribed for approximately £70,000 of new shares, resulting in the issue of 1,166,665 new ordinary shares at 6p each. CEO Ian McDonough subscribed for 833,333 shares and COO Stephen White for 166,666 shares, with these transactions occurring on 5 March 2024. Application has been made for admission of these Subscription Shares to AIM around 11 March 2024, at which point the Company's total voting rights will be 387,077,188 ordinary shares.
| Date | 6 Mar 2024 |
| Time | 07:00:12 |
| Category | Director/PDMR dealings |
| ID | 7153F |
6 March 2024
Blackbird plc
(the "Company")
Director/PDMR subscription
Director's interest in the Company
Total Voting Rights
Blackbird plc (AIM: BIRD), the developer and seller of the market-leading cloud video platform, Blackbird, announces that following the release of its annual results yesterday, certain members of the Board (and associated family members) and the Company's management have conditionally subscribed for a total of approximately £70,000 of new shares in the Company (the "Subscription"). The Subscription was referenced in the Company's recent placing announcement, further details of which were announced on 29 February 2024 (the "Placing").
The Subscription will result in the issue and allotment of a total of 1,166,665 new ordinary shares of 0.8 pence each in the Company (the "Subscription Shares") and is being carried out at the same issue price as the Placing, being 6p.
Director/PDMR Subscriptions
The following Directors/PDMRs have conditionally subscribed for shares in the Company in the amounts set out in the table below:
|
Director/PDMR |
Current holding |
% of existing ordinary shares*
|
Subscription Shares |
Holding post Subscription |
% of enlarged share capital |
|
|
Ian McDonough, Chief Executive (including family interests)
|
28,250,436 |
7.32% |
833,333 |
29,083,769 |
7.51% |
|
|
Stephen White, Chief Operating and Financial Officer
|
543,162 |
0.14% |
166,666 |
709,828 |
0.18% |
|
|
Total |
28,793,598 |
7.46% |
999,999 |
29,793,597 |
7.70% |
|
*Existing ordinary shares includes the 17,500,002 ordinary shares admitted to trading on AIM on 5 March 2024
The Huyton Asphalt SSAS Pension Fund, of which Ian McDonough, Chief Executive Officer of the Company, is both a trustee and a beneficiary, purchased the 833,333 Subscription Shares detailed above.
The FCA notifications in relation to the above and made in accordance with the requirements of the UK Market Abuse Regulation are appended further below.
Admission to trading and total voting rights
Application has been made to the London Stock Exchange plc for the Subscription Shares to be admitted to trading on AIM. It is expected that Admission will become effective and that dealings in the Subscription Shares on AIM will commence at 8:00 a.m. on or around 11 March 2024.
On Admission, the Company's issued ordinary share capital will consist of 387,077,188 ordinary shares of 0.8 pence each in the Company (the "Ordinary Shares"), with one vote per share. The Company does not hold any Ordinary Shares in treasury. Therefore, on Admission, the total number of Ordinary Shares and voting rights in the Company will be 387,077,188. With effect from Admission, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Director's interest in the Company
Following Admission, Stephen Streater, the Company's R&D Director, will be interested in 62,785,000 Ordinary Shares which is equivalent to 16.22% of the enlarged share capital (as enlarged by the Subscription Shares).
Enquiries:
|
Blackbird plc |
Tel: +44 (0)20 8879 7245 |
|
Ian McDonough, Chief Executive Officer |
|
|
Stephen White, Chief Operating and Financial Officer |
|
|
|
|
|
Allenby Capital Limited (Nominated Adviser and Broker) |
Tel: +44 (0)20 3328 5656 |
|
Nick Naylor/Piers Shimwell (Corporate Finance) |
|
|
Amrit Nahal / Guy McDougall (Sales and Corporate Broking) |
|
About Blackbird plc
Blackbird plc operates in the fast-growing SaaS and cloud video market. It has created BlackbirdⓇ, a market-leading suite of cloud-native computing applications for video all underpinned by its lightning fast codec. Blackbird plc's patented technology allows for frame accurate navigation, playback, viewing and editing in the cloud. BlackbirdⓇ enables multiple applications, which are 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.
Since it is cloud-native, BlackbirdⓇ removes the need for costly, high-end workstations and can be used from almost anywhere on almost any device. It also allows full visibility on multilocation digital content, improves time to market for live content such as video clips and highlights for digital distribution, and ultimately results in much more effective monetisation. Blackbird plc is a licensor of its core video technology under its 'Powered by Blackbird' licensing model. Enabling video companies to accelerate their path to true cloud business models, licensees benefit from power and carbon reductions, cost and time savings, less hardware and bandwidth requirements and easy scalability. elevate.io, built using Blackbird core technology, is the company's new creator SaaS product, a browser based end-to-end content creation tool aimed at the Creator Economy.
www.linkedin.com/company/blackbird-cloud
www.twitter.com/blackbirdcloud
www.youtube.com/c/Blackbirdcloud
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
|
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Chief Executive Officer |
||||
|
b)
|
Initial notification /Amendment |
Initial notification |
||||
|
3
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Blackbird plc |
||||
|
b) |
LEI |
2138006DWRVTIAVW3415 |
||||
|
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 financial instrument, type of instrument Identification code |
Ordinary Shares of 0.8p each
GB0004740477 |
||||
|
b) |
Nature of the transaction |
Subscription for Ordinary Shares
|
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
n/a
|
||||
|
e) |
Date of the transaction |
5 March 2024 |
||||
|
f) |
Place of the transaction |
Outside of a trading venue |
||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
|
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Chief Operating & 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 |
Blackbird plc |
||||
|
b) |
LEI |
2138006DWRVTIAVW3415 |
||||
|
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 financial instrument, type of instrument Identification code |
Ordinary Shares of 0.8p each
GB0004740477 |
||||
|
b) |
Nature of the transaction |
Subscription for Ordinary Shares
|
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
n/a |
||||
|
e) |
Date of the transaction |
5 March 2024 |
||||
|
f) |
Place of the transaction |
Outside of a trading venue |
||||