Kooth PLC Awards under Incentive Plan & PDMR dealing (5620R)
27 October 2023 - 8:19PM
UK Regulatory
TIDMKOO
RNS Number : 5620R
Kooth PLC
27 October 2023
27 October 2023
Kooth plc
("Kooth" or the "Company" or the "Group")
Awards under Long Term Incentive Plan and PDMR dealing
Kooth (AIM: KOO), a leading provider of digital mental health
services announces the third grant of options to Executive
Directors and certain senior management under the Long-Term
Incentive Plan ("LTIP") as outlined in Kooth's admission document
dated 26 August 2020.
The LTIP was established to incentivise management to deliver
long-term value creation for shareholders and ensure alignment with
shareholder interests.
Background
The LTIP is a discretionary share plan. Under the LTIP the Board
may, within certain limits and subject to any applicable
performance conditions, grant to eligible employees (i) options
over Shares ("LTIP Options") and/or (ii) an immediate award of
Shares, subject to restrictions or forfeiture (together "LTIP
Awards").
Award size, performance conditions and dilution
On 27 October 2023, options over 340,000 shares in aggregate
(the "2023 Awards") were granted under the LTIP, including those
set out below which were granted to directors:
Director / PDMR Role Number of shares over
which 2023 Awards made
Tim Barker Chief Executive Officer 71,197
------------------------- ------------------------
Sanjay Jawa Chief Financial Officer 59,331
------------------------- ------------------------
Kate Newhouse Chief Operating Officer 59,331
------------------------- ------------------------
The vesting of the 2023 Awards is subject to the achievement of
performance conditions based upon the growth in Kooth's adjusted
EBITDA over the three-year performance period commencing 1 January
2023 and the Company's total shareholder return over the three-year
performance period commencing 2 September 2023. The awards will
vest (subject to the achievement of the performance conditions) on
2 September 2026. To the extent they vest, awards held by Executive
Directors will be subject to a post-vesting holding period of two
years. The awards granted to other senior management will be
released at vesting.
Each award has been granted in the form of an option with an
exercise price per share of GBP0.05.
If the maximum targets are met in 2026, the total dilutive
impact of the 2023 Awards will be c. 0.9%. The maximum aggregate
dilutive effect of awards currently in issue that can be exercised
under the LTIP remains below 10% of issued share capital.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Tim Barker
-------------------------- --------------------------------------
2 Reason for the notification
------------------------------------------------------------------
a) Position/status Chief Executive Officer
-------------------------- --------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------
a) Name Kooth plc
-------------------------- --------------------------------------
b) LEI 2138001YLGO1L8UYOM90
-------------------------- --------------------------------------
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 Ordinary shares of GBP0.001 each
financial instrument,
type of instrument ISIN: GB00BMCZLK30
Identification code
-------------------------- --------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
under the Company's LTIP
-------------------------- --------------------------------------
c) Price(s) and volume(s) 71,197 at nil price point
-------------------------- --------------------------------------
d) Aggregated information
- Aggregated volume n/a
- Price
-------------------------- --------------------------------------
e) Date of the transaction 27 October 2023
-------------------------- --------------------------------------
f) Place of the transaction Off market transaction
-------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Sanjay Jawa
-------------------------- --------------------------------------
2 Reason for the notification
------------------------------------------------------------------
a) Position/status Chief Financial Officer
-------------------------- --------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------
a) Name Kooth plc
-------------------------- --------------------------------------
b) LEI 2138001YLGO1L8UYOM90
-------------------------- --------------------------------------
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 Ordinary shares of GBP0.001 each
financial instrument,
type of instrument ISIN: GB00BMCZLK30
Identification code
-------------------------- --------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
under the Company's LTIP
-------------------------- --------------------------------------
c) Price(s) and volume(s) 59,331 at nil price point
-------------------------- --------------------------------------
d) Aggregated information
- Aggregated volume n/a
- Price
-------------------------- --------------------------------------
e) Date of the transaction 27 October 2023
-------------------------- --------------------------------------
f) Place of the transaction Off market transaction
-------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Kate Newhouse
-------------------------- --------------------------------------
2 Reason for the notification
------------------------------------------------------------------
a) Position/status Chief Operating Officer
-------------------------- --------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------
a) Name Kooth plc
-------------------------- --------------------------------------
b) LEI 2138001YLGO1L8UYOM90
-------------------------- --------------------------------------
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 Ordinary shares of GBP0.001 each
financial instrument,
type of instrument ISIN: GB00BMCZLK30
Identification code
-------------------------- --------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
under the Company's LTIP
-------------------------- --------------------------------------
c) Price(s) and volume(s) 59,331 at nil price point
-------------------------- --------------------------------------
d) Aggregated information
- Aggregated volume n/a
- Price
-------------------------- --------------------------------------
e) Date of the transaction 27 October 2023
-------------------------- --------------------------------------
f) Place of the transaction Off market transaction
-------------------------- --------------------------------------
- Ends -
Enquires:
Kooth plc investorrelations@kooth.com
Tim Barker, CEO
Sanjay Jawa, CFO
Stifel, Nominated Adviser and Sole
Broker
Ben Maddison, Nick Adams, Nicholas
Harland, Richard Short +44 (0) 20 7710 7600
FTI Consulting
Jamie Ricketts, Alex Shaw, Usama kooth@fticonsulting.com
Ali
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END
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