TIDMMMX
RNS Number : 8023V
Minds + Machines Group Limited
02 February 2017
2 February 2017
Minds + Machines Group Limited
("MMX", the "Company" or "Group")
Grant of Options and PDMR Notification
Minds + Machines Group Limited (AIM:MMX), the top-level domain
registry company, announces that on 1 February 2017, awards of
options over ordinary shares of the Company ("Ordinary Shares")
were made to certain directors of the Company ("Directors") and
certain senior managers of the Company ("Senior Managers").
Details of the options granted are as follows:
Name Number of Options Exercise Price
Granted
Toby Hall (CEO) 3,000,000* Nil Paid
Michael Salazar 3,000,000* Nil Paid
(COO / CFO)
Senior Management 2,000,000 9.375p
*performance conditions apply
The options granted to the Directors ("Director Options") are
structured as nil-cost options and, subject to the achievement of
vesting conditions, will vest on the publication of the accounts of
the Company for the year ended 31 December 2019.
The Director Options will vest on a straight line basis, based
on total shareholder return from a base price of 9.375p per share
up to full vesting at 18.75p per share. This condition will be
measured against the volume weighted average price of the Company's
Ordinary Shares over the 20 trading days prior to the vesting date
("VWAP").
As an example, were VWAP to be 9.375p at the time of the
publication of the accounts for the year ended 31 December 2019,
then none of the Director Options will vest whereas in order for
the Director Options to vest in full, VWAP will need to have
increased to 18.75p per Ordinary Share or more. As with the 2016
option award, the Director Options include provisions for early
vesting of options in the event of a change of control.
The options granted to the Senior Managers ("Senior Manager
Options") are exercisable at 9.375p and will vest on the
publication of the accounts of the Company for the year ended 31
December 2019. The Senior Manager Options include provisions for
early vesting of options in the event of a change of control.
Following the grant of the Directors' Options, Mr Hall and Mr
Salazar's interests in the Company are as follows:
Name Ordinary % of Existing Options % of Existing
Shares share capital share capital
Toby Hall 500,000 0.07 10,500,000 1.5
Michael
Salazar 1,925,000 0.28 10,500,000 1.5
Outstanding options, as a result of the awards to the Directors
and Senior Managers outlined above, now stand at 33,612,500.
PDMR Notification
The notification below is made in accordance with the
requirements of the EU Market Abuse Regulation, requiring
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 A. Toby Hall
B. Michael Salazar
--- ----------------------- ----------------------------------
2 Reasons for Notification
--- -----------------------------------------------------------
a) Position / status A. CEO
B. CFO / COO
--- ----------------------- ----------------------------------
b) Initial notification Initial notification
/ Amendment
--- ----------------------- ----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------
a) Name Minds + Machines Group Limited
--- ----------------------- ----------------------------------
b) LEI (Pending)
--- ----------------------- ----------------------------------
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 Ordinary shares of nil par
of the financial value
instrument, ISIN: VGG614091012
type of instrument
Identification
code
--- ----------------------- ----------------------------------
b) Nature of the Grant of Options
transaction
--- ----------------------- ----------------------------------
c) Price(s) and Exercise No. of shares
volume(s) Price
--- ---------- --------------
A Nil 3,000,000
--- ---------- --------------
B Nil 3,000,000
--- ---------- --------------
--- ----------------------- ----------------------------------
d) Aggregated information Volume: 6,000,000
- Aggregated Price: Nil
volume
- Price
--- ----------------------- ----------------------------------
e) Date of the 1 February 2017
transaction
--- ----------------------- ----------------------------------
f) Place of the AIM Market, London Stock Exchange
transaction
--- ----------------------- ----------------------------------
For further information:
Minds + Machines Group Limited
Toby Hall, CEO Tel: +44 (0) 7713
Michael Salazar, COO/CFO 341072
Tel: +1 (310)
740 7499
finnCap Ltd Tel: 020 7220
0500
Corporate finance - Stuart Andrews
/ Carl Holmes / Simon Hicks
Corporate broking - Tim Redfern
/ Camille Gochez
For further information, please go to www.mmx.co
About MMX
Minds + Machines Group Limited (LSE:MMX) is the owner and
operator of a world class portfolio of top-level domain assets
(gTLDs). As a sales and marketing-led registry business, we are
focused on commercializing our portfolio in partnership with our
expanding global network of distribution partners.
The MMX portfolio is currently focused around geographic domains
(e.g. .london, .boston, .miami, .bayern), professional occupations
(e.g. .law, .abogado, and .dds), consumer interests (e.g. .fashion,
.wedding, .vip), lifestyle (e.g. .fit, .surf, .yoga), outdoor
activities (e.g..fishing, .garden, .horse) and generic names such
as .work and .casa. As a business, we work through our expanding
international network of registrars and distribution partners to
bring the benefits of affinity based domain addresses to B2B and
consumer audiences. For more information on MMX, please visit
www.mmx.co
This information is provided by RNS
The company news service from the London Stock Exchange
END
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