Business
Issue of Options
Issue of Options.
About this update from Altitude Group Plc
[{"type":"text","content":"\n \nRNS Number : 3736W Altitude Group PLC 08 February 2017 \n\nAltitude Group plc\n(the \"Company\")\n \nISSUE OF SHARE OPTIONS\n \nThe Company announces that it has today issued share options to Sanjay Lobo and Gellan Watt, who have joined the Company as Managing Director and Non-Executive Director respectively as announced on 25 January 2017. Mr. Lobo's appointment to the Board remains subject to completion of customary due diligence.\n \nMr. Lobo and Mr. Watt have each been issued options under the Company EMI Scheme over 238,095 ordinary shares of 0.4p each (\"Ordinary Shares\"), exercisable at a price of 84p per share and vesting subject to the conditions set out below (the \"Options\"):\n \n· 50% of the Options will vest on a time accrued basis over three years; and\n \n· 50% of the Options will vest in three equal tranches on the market price of the Ordinary Shares reaching (i) 100p; (ii) 130p; and (iii) 160p.\n \nThe Options expire on the fifth anniversary of the date of grant.\n \nIn addition, Mr. Lobo has been issued options under the Company Unapproved Option Scheme over a further 47,619 Ordinary Shares on the same terms.\n \n \nEnquiries: \n \n\n\n\n\nAltitude Group plc\nPeter Hallett, Chairman\n\n\n07887 987469\n\n\n\n\n\n\n\n\n\n\n\n\nWH Ireland Limited (Nominated Adviser and Broker)\nTim Feather/Ed Allsopp\n\n\n0113 394 6600\n\n\n\n\n \nThe information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on shares acquired. \n \n\n\n\n\n1 \n\n\nDetails of the person discharging managerial responsibilities/person closely associated \n\n\n\n\na)\n\n\nName\n\n\nSanjay Lobo\n\n\n\n\n2 \n\n\nReason for the notification \n\n\n\n\na)\n\n\nPosition/status\n\n\nManaging Director, Altitude Group plc\n\n\n\n\nb)\n\n\nInitial notification/ Amendment\n\n\nInitial Notification\n\n\n\n\n3 \n\n\nDetails of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor \n\n\n\n\na)\n\n\nName\n\n\nAltitude Group plc\n\n\n\n\nb)\n\n\nLEI\n\n\nN/A\n\n\n\n\n4 \n\n\nDetails 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 t...