REACT GROUP PLC
Grant of Options and Warrants
React Group Plc announces that on 17 May 2019 it granted options ("Options") over a total of 42,371,519 ordinary shares of 0.25 pence in the Company's ("Ordinary Shares") to employees, as set out in the table below. Gillian Leates has surrendered her existing warrants over 2,380,000 Ordinary Shares. The Company has also granted warrants ("Warrants") over a total of 19,939,537 Ordinary Shares to Wydelta Limited, a consulting and advisory firm led by Mark Braund. In aggregate, these share options and warrants represent 14.6 % of the current issued share capital.
The Options have an exercise price of 0.3 pence per Ordinary Share, vest two years from the date of grant and once vested are exercisable at any time up to ten years after the date of grant, subject to performance conditions. The Warrants are subject to the same performance criteria although are exercisable at any time up to five years after the date of grant. After five years the option performance will cease to apply.
The Options and Warrants have an exercise price of 0.3 pence per share and are subject to performance conditions whereby the average mid-market closing share price of the Company's Ordinary Shares in any consecutive 5 day period in the period 17 May 2024 is at or above the defined levels, as follows:
share price at or above |
% of total vesting |
cumulative % of total vesting |
0.40p |
10% |
10% |
0.80p |
10% |
20% |
1.20p |
10% |
30% |
1.60p |
10% |
40% |
2.00p |
10% |
50% |
2.40p |
25% |
75% |
2.80p |
25% |
100% |
The Options and Warrants have been granted to as follows:
Name |
Role |
Type |
Options or Warrants granted |
Total Options / Warrants over Ordinary Shares now held |
Gillian Leates |
Executive Chairman |
Enterprise Management Incentive ("EMI") |
19,939,537 |
19,939,537 |
Shaun Doak |
Managing Director |
EMI |
18,693,318 |
18,693,318 |
Andrea Pankhurst |
Finance Controller |
EMI |
2,077,038 |
2,077,038 |
Michael Joyce |
Non-Executive Director |
Non-approved |
830,813 |
830,813 |
Rob Gilbert |
Non-Executive Director |
Non-approved |
830,813 |
830,813 |
Wydelta Limited |
Strategic & Operational Advice |
Warrants |
19,939,537 |
19,939,537 |
For further information, please contact:
REACT Group PLC Gill Leates - Executive Chairman |
07799 662642 |
SPARK Advisory Partners Limited Neil Baldwin |
0113 370 8974 |
Peterhouse Capital (Broker) Duncan Vasey/Martin Lampshire |
0207 459 0930 |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
a) |
Name |
Gillian Leates |
2 |
Reason for the notification |
a) |
Position/status |
Executive Chairman |
b) |
Initial notification /Amendment |
Initial notification |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
REACT Group plc |
b) |
LEI |
213800H54C4GOFN7MO32 |
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 |
Ordinary shares of 0.25p each |
|
|
Identification code |
GB00BZ2JBG28 |
|
|
b) |
Nature of the transaction |
Grant of Options |
c) |
Price(s) and volume(s) |
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
0.3p |
19,939,537 |
|
|
|
|
|
|
d) |
Aggregated information |
n/a - single transaction |
|
|
- Aggregated volume |
|
|
|
- Price |
|
|
|
e) |
Date of the transaction |
17 May 2019 |
f) |
Place of the transaction |
London Stock Exchange |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
a) |
Name |
Shaun Doak |
2 |
Reason for the notification |
a) |
Position/status |
Managing Director |
b) |
Initial notification /Amendment |
Initial notification |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
REACT Group plc |
b) |
LEI |
213800H54C4GOFN7MO32 |
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 |
Ordinary shares of 0.25p each |
|
|
Identification code |
GB00BZ2JBG28 |
|
|
b) |
Nature of the transaction |
Grant of Options |
c) |
Price(s) and volume(s) |
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
0.3p |
18,693,318 |
|
|
|
|
|
|
d) |
Aggregated information |
n/a - single transaction |
|
|
- Aggregated volume |
|
|
|
- Price |
|
|
|
e) |
Date of the transaction |
17 May 2019 |
f) |
Place of the transaction |
London Stock Exchange |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
a) |
Name |
Andrea Pankhurst |
2 |
Reason for the notification |
a) |
Position/status |
Finance Controller |
b) |
Initial notification /Amendment |
Initial notification |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
REACT Group plc |
b) |
LEI |
213800H54C4GOFN7MO32 |
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 |
Ordinary shares of 0.25p each |
|
|
Identification code |
GB00BZ2JBG28 |
|
|
b) |
Nature of the transaction |
Grant of Options |
c) |
Price(s) and volume(s) |
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
0.3p |
2,077,038 |
|
|
|
|
|
|
d) |
Aggregated information |
n/a - single transaction |
|
|
- Aggregated volume |
|
|
|
- Price |
|
|
|
e) |
Date of the transaction |
17 May 2019 |
f) |
Place of the transaction |
London Stock Exchange |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
a) |
Name |
Michael Joyce |
2 |
Reason for the notification |
a) |
Position/status |
Non-Executive Director |
b) |
Initial notification /Amendment |
Initial notification |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
REACT Group plc |
b) |
LEI |
213800H54C4GOFN7MO32 |
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 |
Ordinary shares of 0.25p each |
|
|
Identification code |
GB00BZ2JBG28 |
|
|
b) |
Nature of the transaction |
Grant of Options |
c) |
Price(s) and volume(s) |
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
0.3p |
830,813 |
|
|
|
|
|
|
d) |
Aggregated information |
n/a - single transaction |
|
|
- Aggregated volume |
|
|
|
- Price |
|
|
|
e) |
Date of the transaction |
17 May 2019 |
f) |
Place of the transaction |
London Stock Exchange |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
a) |
Name |
Rob Gilbert |
2 |
Reason for the notification |
a) |
Position/status |
Non-Executive Director |
b) |
Initial notification /Amendment |
Initial notification |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
REACT Group plc |
b) |
LEI |
213800H54C4GOFN7MO32 |
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 |
Ordinary shares of 0.25p each |
|
|
Identification code |
GB00BZ2JBG28 |
|
|
b) |
Nature of the transaction |
Grant of Options |
c) |
Price(s) and volume(s) |
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
0.3p |
830,813 |
|
|
|
|
|
|
d) |
Aggregated information |
n/a - single transaction |
|
|
- Aggregated volume |
|
|
|
- Price |
|
|
|
e) |
Date of the transaction |
17 May 2019 |
f) |
Place of the transaction |
London Stock Exchange |
