Director Dealing and Issue of Consideration Shares

 

 

 

 

The Mission Group plc

("MISSION" "The Company" or "The Group") 

 

Director Dealing and Issue of Consideration Shares

 

 

MISSION (AIM:TMG), the alternative group for ambitious brands, announces that as part of his annual remuneration package, James Clifton, Group Chief Executive has been issued ordinary shares of 10 pence each ("Ordinary Shares") in the Company to the value of £25,000 ("Remuneration Shares").

 

The Remuneration Shares were issued at a price of 63.1p per share, being the daily average closing price for the Company's shares for the five days preceding 9th April 2020, the anniversary of his appointment as Group Chief Executive, giving a total award of 39,620 Ordinary Shares.

 

The Group also announces that Peter Fitzwilliam, Chief Financial Officer, who elected to receive a performance reward granted in 2019 in shares rather than cash, with receipt of the shares deferred until 2020 subject to continued employment, notified MISSION on 7 May of his intention to trigger receipt of the Ordinary Shares. The award was for 65,000 Ordinary Shares ("Bonus Shares").

 

The Remuneration Shares and Bonus Shares give rise to PAYE and NI liabilities and, as such, Mr Clifton and Mr Fitzwilliam both elected to receive such number of Remuneration Shares and Bonus Shares net-of-tax, being 20,998 Ordinary Shares and 34,450 Ordinary Shares respectively. 

 

These Remuneration Shares and Bonus Shares were transferred to Mr Clifton and Mr Fitzwilliam respectively from The Mission Group Employee Benefit Trust ("EBT") on 7 May 2020.

 

Following the transfer of the Remuneration Shares, net-of-tax, from the EBT to Mr Clifton and Mr Fitzwilliam, Mr Clifton is interested in 792,539 Ordinary Shares, equal to approximately 0.9% of the issued share capital of the Company and Mr Fitzwilliam is interested in 1,318,676 Ordinary Shares, equal to approximately 1.4% of the issued share capital of the Company.

 

Following the transfer of shares from the EBT to Mr Clifton, a total of 1,015,795 Ordinary Shares, representing 1.1% of the Company's total voting rights, are held in the EBT.

 

The Group also announces that it will issue a total of 286,170 Ordinary Shares in the Company as part of its settlement of earn-out obligations following the finalisation of the audit of the Group for the year ended 31 December 2019.

 

A total of 286,170 Ordinary Shares will be issued to the vendors of Krow Communications Ltd ("krow") based on an average share price over the 10 business days preceding 7 May 2020 of 56.97 pence per share.  Of these 57,522 shares will be issued to Barry Cook, Executive Director of the Company. Following the transfer Barry Cook will hold 214,189 shares representing 0.2% of the issued share capital.

 

Application has been made for the 286,170 Ordinary Shares to be issued to the vendors of krow (the "Earnout Shares") to be admitted to trading on AIM, with admission expected to take place on 15 May 2020 ("Admission").

 

Following the issue of the Earnout Shares, there will be 91,015,897 Ordinary Shares in issue. The Company holds no Ordinary Shares in treasury and therefore this figure may be used by shareholders of 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 Financial Conduct Authority's Disclosure and Transparency Rules.

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

 

 

Enquiries:        

 

David Morgan, Chairman James Clifton, Chief Executive Peter Fitzwilliam, Chief Financial Officer The Mission Group plc	020 7462 1415
Mark Percy / James Thomas / Sarah Mather (Corporate Advisory)
Shore Capital (Nomad and Broker)	020 7408 4090
Kate Hoare / Laura Stewart	0203 760 7668
HOUSTON (Financial PR and Investor Relations)

                                                                       

MISSION is a collective of creative Agencies. Employing 1,150 people in the UK, Europe, Asia and US, the Group combines the expertise of Integrated and Specialist Agencies to bring commercially effective solutions to business challenges.

Founded as a cooperative of like-minded entrepreneurs, MISSION has built an impressive track record. The Group has grown revenue and profit each year for the last nine years, winning prestigious and progressively bigger business across its blue-chip Client base and acquiring new Agencies with fantastic reputations, expanding its service capability even further. 

In addition to the Group's creative Agencies sits Fuse, MISSION's central innovation hub through which the Group has successfully trialled and developed a number of emerging technologies. Many of these have been grown into successful commercial products that not only bring value to the MISSION family of Agencies, but which have been successfully able to realise market value at sale.  

www.themission.co.uk

 

 

 

 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	James Clifton
2	Reason for the notification
a)	Position/status	James Clifton  Chief Executive Officer
b)	Initial notification /Amendment	7 May 2020
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	The Mission Group plc
b)	LEI	213800L567CF3Z6GPZ03
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 10 pence each     GB00B11FD453
b)	Nature of the transaction	Pursuant to director remuneration package
c)	Price(s) and volume(s)	Price(s) Volume(s) James Clifton  Nil price                                                20,998
d)	Aggregated information     - Aggregated volume     - Price	20,998     Nil price
e)	Date of the transaction	7 May 2020
f)	Place of the transaction	Off-market

 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Peter Fitzwilliam
2	Reason for the notification
a)	Position/status	Peter Fitzwilliam  Chief Financial Officer
b)	Initial notification /Amendment	7 May 2020
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	The Mission Group plc
b)	LEI	213800L567CF3Z6GPZ03
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 10 pence each     GB00B11FD453
b)	Nature of the transaction	Pursuant to performance bonus scheme
c)	Price(s) and volume(s)	Price(s) Volume(s) Peter Fitzwilliam  Nil price                                                34,450
d)	Aggregated information     - Aggregated volume     - Price	34,450     Nil price
e)	Date of the transaction	7 May 2020
f)	Place of the transaction	Off-market

 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Barry Cook
2	Reason for the notification
a)	Position/status	Barry Cook  Executive Director
b)	Initial notification /Amendment	7 May 2020
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	The Mission Group plc
b)	LEI	213800L567CF3Z6GPZ03
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 10 pence each     GB00B11FD453
b)	Nature of the transaction	Pursuant to the earn out obligations
c)	Price(s) and volume(s)	Price(s) Volume(s) Barry Cook  Nil price                                                57,522
d)	Aggregated information     - Aggregated volume     - Price	57,522     Nil price
e)	Date of the transaction	7 May 2020
f)	Place of the transaction	Off-market