TIDMBIDS
RNS Number : 4179W
Bidstack Group PLC
22 December 2021
Certain information contained within this Announcement is deemed
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in
the United Kingdom. Upon publication of this Announcement, this
information is now considered to be in the public domain.
22 December 2021
Bidstack Group Plc
("Bidstack" or the "Company")
Adoption of Long Term Incentive Plan
Grant of LTIP Options
Further to its announcement on 27 July 2021, Bidstack Group plc
(AIM: BIDS), the native in-game advertising group, announces that,
as set out in the Circular published by the Company on 2 July 2021,
it has adopted a new Long Term Incentive Plan ("LTIP") on 21
December 2021 and, on the recommendation of the Remuneration
Committee, has made an aggregate of 91,000,000 LTIP awards,
including the awards detailed below to James Draper, Francesco
Petruzzelli, Lisa Hau and Lewis Sherlock (the "Executives"). In
addition, the Company has made awards of a further 6,000,000 EMI
share options to certain employees and 12,600,000 unapproved
options to Donald Stewart, its Chairman, Bryan Neider,
Non-executive Director and Glen Calvert, Non-executive Director and
to certain members of the Advisory Committee.
For the purposes of the new LTIP awards to the Executives and
others, the awards have been made in two categories, each subject
to different performance criteria.
For the first set of LTIP awards ("First Awards") the
Remuneration Committee considered that the most appropriate
performance target for the Company at this stage in its development
is revenue. The vesting schedule below highlights the details for
the achievement of the awards.
Revenue Vesting Schedule
% on target % vesting
90 and above 100
------------------------
Between 75 and 90 50 - 100 (straight line
basis between points)
------------------------
75 50
------------------------
Below 75 0
------------------------
These LTIP awards also include an operating cost element which,
if achieved, can increase the amount of vesting by 10%, in the
event the revenue target is missed. Any awards not vesting from
Year 1 will be rolled into the Year 2 award.
The second set of LTIP awards ("Second Awards") were intended to
create circumstances which ought to lead to exceptional returns for
the Company and its shareholders. The Remuneration Committee
considered that EBITDA - Earnings Before Interest, Tax,
Depreciation and Amortisation was an appropriately more challenging
performance condition for the Company at this stage. The vesting
schedule below highlights the details for the achievement of the
second set of LTIP awards.
EBITDA Vesting Schedule
% on target % vesting
100 or above 100
-----------------
95 and above 75
-----------------
90 and above 50
-----------------
Below 90 0
-----------------
The LTIP awards to each of the Executives in each set of awards
will vest over a three year period. All of the LTIP awards, when
vested, will be exercisable on payment of nominal value only.
The First Awards have been made to the Executives as
follows:
Name 2022 2023 2024 Total
James Draper 6,000,000 6,000,000 6,000,000 18,000,000
---------- ---------- ---------- -----------
Francesco
Petruzzelli 6,000,000 6,000,000 6,000,000 18,000,000
---------- ---------- ---------- -----------
Lisa Hau 1,000,000 1,000,000 1,000,000 3,000,000
---------- ---------- ---------- -----------
Lewis Sherlock 2,000,000 2,000,000 2,000,000 6,000,000
---------- ---------- ---------- -----------
The Second Awards have been made as follows:
Name 2022 2023 2024 Total
James Draper 6,000,000 6,000,000 6,000,000 18,000,000
---------- ---------- ---------- -----------
Francesco
Petruzzelli 6,000,000 6,000,000 6,000,000 18,000,000
---------- ---------- ---------- -----------
Lisa Hau 1,000,000 1,000,000 1,000,000 3,000,000
---------- ---------- ---------- -----------
The relevant targets will be set by the Remuneration Committee
based on the consensus of market expectations.
Notwithstanding the above performance criteria, all of the LTIP
awards will vest in the event of a change of control of the
Company.
In aggregate the LTIP awards represent 9.77% of the current
issued share capital of the Company.
In addition to the above the Company has awarded 6,000,000 new
EMI options to certain employees granted under the terms of the
Bidstack Group Plc EMI Share Option Scheme 2018 ("EMI Options"),
7,000,000 unapproved share options to certain Directors and
5,600,000 unapproved share options to certain members of the
Advisory Committee granted under the terms of the Bidstack Group
Plc Unapproved Share Option Scheme 2018 ("Unapproved Options"). The
unapproved options granted to the Directors are as follows:
Name Number of Options
Donald Stewart 3,000,000
------------------
Bryan Neider 2,000,000
------------------
Glen Calvert 2,000,000
------------------
These new EMI Options and Unapproved Options together represent
1.99% of the current issued share capital of the Company.
Each of these new EMI Options and Unapproved Options will be
exercisable at a price of 3.6 pence per share (being the mid-market
closing price on 21 December 2021). All of the new EMI Options and
Unapproved Options granted to Directors will be exercisable three
years after the date of grant, save in usual circumstances
including the Company being the subject of a takeover offer, and
all of the new options will expire ten years after the date of
grant. The Unapproved Options granted to certain advisers are
subject to specific performance criteria.
The Company announces the following PDMR dealings in accordance
with Article 19 of the Market Abuse Regulation:
FORM FOR NOTIFYING DEALINGS BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name James Draper
------------------------------- --------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status Chief Executive
------------------------------- --------------------------------------
b) Initial notification/Amendment Initial Notification
------------------------------- --------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Bidstack Group Plc
------------------------------- --------------------------------------
b) LEI 213800Q47UWF61LMRR02
------------------------------- --------------------------------------
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 Ordinary Shares of 0.5 pence each
instrument
------------------------------- --------------------------------------
b) Identification code GB00BZ7M6059
------------------------------- --------------------------------------
c) Nature of the transactions Grant of Options
------------------------------- --------------------------------------
d) Price(s) and volume(s) Exercise price: 0.5 pence
Volume: 18,000,000 First LTIP awards
18,000,000 Second LTIP awards
------------------------------- --------------------------------------
e) Aggregated information 36,000,000 LTIP awards
- Aggregated volume Exercise price: 0.5 pence
- Price
------------------------------- --------------------------------------
f) Date of the transactions 21 December 2021
------------------------------- --------------------------------------
g) Place of the transactions Off market
------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name Francesco Petruzelli
------------------------------- --------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status Chief Technology Officer
------------------------------- --------------------------------------
b) Initial notification/Amendment Initial Notification
------------------------------- --------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Bidstack Group Plc
------------------------------- --------------------------------------
b) LEI 213800Q47UWF61LMRR02
------------------------------- --------------------------------------
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 Ordinary Shares of 0.5 pence each
instrument
------------------------------- --------------------------------------
b) Identification code GB00BZ7M6059
------------------------------- --------------------------------------
c) Nature of the transactions Grant of Options
------------------------------- --------------------------------------
d) Price(s) and volume(s) Exercise price: 0.5 pence
Volume: 18,000,000 First LTIP awards
18,000,000 Second LTIP awards
------------------------------- --------------------------------------
e) Aggregated information 36,000,000 LTIP awards
- Aggregated volume Exercise price: 0.5 pence
- Price
------------------------------- --------------------------------------
f) Date of the transactions 21 December 2021
------------------------------- --------------------------------------
g) Place of the transactions Off market
------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name Lisa Hau
-------------------------------- -------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status Chief Operating Officer
-------------------------------- -------------------------------------
b) Initial notification/Amendment Initial Notification
-------------------------------- -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Bidstack Group Plc
-------------------------------- -------------------------------------
b) LEI 213800Q47UWF61LMRR02
-------------------------------- -------------------------------------
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 Ordinary Shares of 0.5 pence each
instrument
-------------------------------- -------------------------------------
b) Identification code GB00BZ7M6059
-------------------------------- -------------------------------------
c) Nature of the transactions Grant of Options
-------------------------------- -------------------------------------
d) Price(s) and volume(s) Exercise price: 0.5 pence
Volume: 3,000,000 First LTIP awards
3,000,000 Second LTIP awards
-------------------------------- -------------------------------------
e) Aggregated information 6,000,000 LTIP awards
- Aggregated volume Exercise price: 0.5 pence
- Price
-------------------------------- -------------------------------------
f) Date of the transactions 21 December 2021
-------------------------------- -------------------------------------
g) Place of the transactions Off market
-------------------------------- -------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name Lewis Sherlock
-------------------------------- -------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status SVP Programmatic
-------------------------------- -------------------------------------
b) Initial notification/Amendment Initial Notification
-------------------------------- -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Bidstack Group Plc
-------------------------------- -------------------------------------
b) LEI 213800Q47UWF61LMRR02
-------------------------------- -------------------------------------
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 Ordinary Shares of 0.5 pence each
instrument
-------------------------------- -------------------------------------
b) Identification code GB00BZ7M6059
-------------------------------- -------------------------------------
c) Nature of the transactions Grant of Options
-------------------------------- -------------------------------------
d) Price(s) and volume(s) Exercise price: 0.5 pence
Volume: 6,000,000 First LTIP awards
-------------------------------- -------------------------------------
e) Aggregated information As for d) above
- Aggregated volume
- Price
-------------------------------- -------------------------------------
f) Date of the transactions 21 December 2021
-------------------------------- -------------------------------------
g) Place of the transactions Off market
-------------------------------- -------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name Donald Stewart
--------------------------------- ------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status Chairman
--------------------------------- ------------------------------------
b) Initial notification/Amendment Initial Notification
--------------------------------- ------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Bidstack Group Plc
--------------------------------- ------------------------------------
b) LEI 213800Q47UWF61LMRR02
--------------------------------- ------------------------------------
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 Ordinary Shares of 0.5 pence each
instrument
--------------------------------- ------------------------------------
b) Identification code GB00BZ7M6059
--------------------------------- ------------------------------------
c) Nature of the transactions Grant of Options
--------------------------------- ------------------------------------
d) Price(s) and volume(s) Exercise price: 3.6 pence
Volume: 3,000,000 options
--------------------------------- ------------------------------------
e) Aggregated information As for d) above
- Aggregated volume
- Price
--------------------------------- ------------------------------------
f) Date of the transactions 21 December 2021
--------------------------------- ------------------------------------
g) Place of the transactions Off market
--------------------------------- ------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name Bryan Neider
--------------------------------- ------------------------------------
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 Bidstack Group Plc
--------------------------------- ------------------------------------
b) LEI 213800Q47UWF61LMRR02
--------------------------------- ------------------------------------
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 Ordinary Shares of 0.5 pence each
instrument
--------------------------------- ------------------------------------
b) Identification code GB00BZ7M6059
--------------------------------- ------------------------------------
c) Nature of the transactions Grant of Options
--------------------------------- ------------------------------------
d) Price(s) and volume(s) Exercise price: 3.6 pence
Volume: 2,000,000 options
--------------------------------- ------------------------------------
e) Aggregated information As for d) above
- Aggregated volume
- Price
--------------------------------- ------------------------------------
f) Date of the transactions 21 December 2021
--------------------------------- ------------------------------------
g) Place of the transactions Off market
--------------------------------- ------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name Glen Calvert
--------------------------------- ------------------------------------
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 Bidstack Group Plc
--------------------------------- ------------------------------------
b) LEI 213800Q47UWF61LMRR02
--------------------------------- ------------------------------------
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 Ordinary Shares of 0.5 pence each
instrument
--------------------------------- ------------------------------------
b) Identification code GB00BZ7M6059
--------------------------------- ------------------------------------
c) Nature of the transactions Grant of Options
--------------------------------- ------------------------------------
d) Price(s) and volume(s) Exercise price: 3.6 pence
Volume: 2,000,000 options
--------------------------------- ------------------------------------
e) Aggregated information As for d) above
- Aggregated volume
- Price
--------------------------------- ------------------------------------
f) Date of the transactions 21 December 2021
--------------------------------- ------------------------------------
g) Place of the transactions Off market
--------------------------------- ------------------------------------
- Ends -
Contacts:
Bidstack Group Plc
James Draper, CEO via Buchanan
SPARK Advisory Partners Limited (Nomad) +44 (0) 203 368
Mark Brady / Neil Baldwin / James Keeshan 3550
Stifel Nicolaus Europe Limited (Joint
Broker) +44 (0) 20 7710
Fred Walsh 7600
Buchanan Communications Limited
Chris Lane / Stephanie Watson / Kim van
Beeck +44 (0) 20 7466
bidstack@buchanan.uk.com 5000
Notes to editors
About Bidstack
Bidstack is an advertising technology company which provides
dynamic, targeted and automated native in-game advertising for the
global video games industry across multiple platforms. Its
proprietary technology is capable of inserting advertisements
within video games. Bidstack's customers are games publishers and
developers (on the supply side), and advertising agencies, brands
and media-buying platforms (on the demand side).
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
DSHFEFEFFEFSEDE
(END) Dow Jones Newswires
December 22, 2021 02:00 ET (07:00 GMT)
Bidstack (LSE:BIDS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Bidstack (LSE:BIDS)
Historical Stock Chart
From Jul 2023 to Jul 2024
