Brave Bison Group PLC Share Incentive Scheme and Grants to Directors (6183X)
28 November 2017 - 12:00AM
UK Regulatory
TIDMBBSN
RNS Number : 6183X
Brave Bison Group PLC
27 November 2017
27 November 2017
Brave Bison Group plc ("Brave Bison" or "the Company")
Share Incentive Scheme and Grants to Directors
Brave Bison Group plc (AIM: BBSN) announces that the Company has
adopted a new long-term share incentive plan, in replacement of the
Company's existing share option scheme.
RSU Plan
The new scheme provides for the grant of restricted stock units
("RSUs") to participants, which subject to vesting, shall entitle
the participant to receive new ordinary shares of 0.1p in the
Company ("Shares") upon exercise of the RSUs on a one-for-one
basis. The total pool of RSUs shall be limited to 12.5 per cent. of
the Company's issued ordinary share capital.
RSUs shall usually vest over a 3-year period from date of grant,
subject only to the continued employment of the participant, and
shall expire following a 10-year period. The RSU exercise price
shall be determined, at the discretion of the Board, at the time of
grant. The Company intends to grant RSUs to existing option-holders
in replacement of their options under the Company's previous option
scheme.
Grants to Directors
RSUs have today been granted by the remuneration committee to
certain Directors as follows:
- Claire Hungate, Chief Executive Officer, has been granted
28,695,461 RSUs. Each RSU may be exercised subject to vesting, at
0.1 pence per Share, and shall vest on a monthly straight-line
basis over a 2-year period, starting on 1 August 2017 (being
Claire's commencement date with the Company).
- Paul Campbell-White, Chief Financial Officer, has been granted
5,739,092 RSUs. Each RSU may be exercised, subject to vesting, at
0.1 pence per Share, and shall vest on a monthly straight-line
basis over a 3-year period, starting on 26 October 2017 (being
Paul's commencement date with the Company).
Related Party Transaction
The grants of the RSUs to Claire Hungate and Paul Campbell-White
comprise a related party transaction for the purposes of Rule 13 of
the AIM Rules for Companies. The independent directors of Brave
Bison (being Sir Robin Miller, Paul Marshall and Marc Cranmer),
having consulted with the Company's Nominated Adviser, Stockdale
Securities, consider that the grants of the RSUs are fair and
reasonable insofar as the shareholders of the Company are
concerned.
For further information, contact:
Brave Bison Group plc Tel: 020 7183 4545
Claire Hungate, Chief Executive Officer
Stockdale Securities Tel: 020 7601 6100
Richard Johnson / Andy Crossley
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
About Brave Bison
Brave Bison is an independent digital media and social video
broadcaster, proudly working with some of the biggest brands and
most followed YouTube and Facebook talent in the world. Clients
include P&G, Shell, PGA Tour, Paramount and Google.
Brave Bison makes it simple for content owners, creators,
brands, publishers and platforms to unlock the value of online
video, whether on a licensed, ad-funded, direct to consumer or paid
placement basis.
The business is based in two regions - Europe, with headquarters
in London; and APAC, with offices in Singapore.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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