TIDMAFRN

RNS Number : 3209Z

Aferian PLC

11 January 2024

11 January 2024

AFERIAN PLC

("Aferian", the "Company" or the "Group")

Share Options

Aferian plc (LSE AIM: AFRN), the B2B video streaming solutions company, announces that the Company's Remuneration Committee have approved the conversion of 535,000 shares awarded under the Aferian Long Term Incentive Plan 2019 (the "Awards") to nil-cost share options over ordinary shares of 1 pence each in the capital of the Company ("Options") to the following directors:

 
 Director          Title        Options 
 Donald McGarva    CEO          310,000 
                  -----------  -------- 
 Mark Carlisle     CFO & COO    225,000 
                  -----------  --------

The Awards were originally granted on 15 July 2019 with a three year performance period which was assessed by the Remuneration Committee and found that they had been met in full. However, vesting of the Awards could not occur in 2022 because of a close period, which did not end until 24 October 2022.

As disclosed in the Remuneration Committee's report within the Aferian Plc Annual Report 2022, given the significant change in trading circumstances as outlined in the trading update of 24 October 2022, the Remuneration Committee again considered these Awards on 17 November 2022 and agreed that vesting after the trading update would not be in the interest of shareholders. Consequently, the Remuneration Committee reached agreement with the two Award holders to defer vesting. This deferral was without conditions save only for the individuals' continued employment in the Company.

The Remuneration Committee also considered the effect of this vesting on the maintenance of orderly trading in the Company's shares, given the vesting of the Awards would trigger a significant director share trade due to crystalisation of personal tax liabilities. Consequently, the Remuneration Committee has agreed that the Awards be converted to nil-cost share options, valid for ten years from date of original grant, subject only to continued employment of the recipient or for a period of six months following cessation of that employment.

-ENDS-

For further information please contact:

 
Aferian plc                                                          +44 (0)1954 234100 
Mark Wells, Chairman 
 Donald McGarva, Chief Executive Officer 
 Mark Carlisle, Chief Financial Officer 
 
Investec bank plc                                                    +44 (0)20 7597 5970 
David Anderson / Patrick Robb / Nick Prowting / Cameron MacRitchie

About Aferian plc

Aferian plc (AIM: AFRN) is a B2B video streaming solutions company. Our end-to-end solutions bring live and on-demand video to every kind of screen. We create the forward-thinking solutions that our customers need to drive subscriber engagement, audience satisfaction, and revenue growth.

It is our belief that successful media companies and services will be those that are most consumer-centric, data driven and flexible to change. We focus on innovating technologies that enable our customers stay ahead of evolving viewer demand by providing smarter, more cost-effective ways of delivering end-to-end modern TV and video experiences to consumers. By anticipating technological and behavioural audience trends, our software solutions empower our customers to heighten viewer enjoyment, drive growth in audience share and ultimately their profitability.

Aferian plc has two operating companies: 24i, which focusses on streaming video experiences, and Amino, which connects Pay TV to streaming services. Our two complementary companies combine their products and services to create solutions which ensure that people can consume TV and video how and when they want it. Our solutions deliver modern TV and video experiences every day to millions of viewers globally, via our growing global customer base of over 500 service providers.

Aferian plc is traded on the London Stock Exchange's AIM stock market (AIM: symbol AFRN). Headquartered in Cambridge, UK, the Company has over 300 staff located in 11 offices, including major European cities as Amsterdam, Helsinki, Copenhagen and Brno, as well as in San Francisco and Hong Kong. For more information,

please visit   www.aferian.com .

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHFFFLFLFIILIS

(END) Dow Jones Newswires

January 11, 2024 02:00 ET (07:00 GMT)

Aferian (AQSE:AFRN.GB)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Aferian Charts.
Aferian (AQSE:AFRN.GB)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Aferian Charts.