TIDMYU.
RNS Number : 0258M
Yu Group PLC
19 May 2022
19 May 2022
Yü Group PLC
("Yü Group" or the "Group")
Director Dealing, Grant and Exercise of Options and Issue of
Equity
Yü Group PLC (AIM: YU.), the independent supplier of gas,
electricity and water to the UK corporate sector, announces that
Paul Rawson, Chief Financial Officer of the Company, has exercised
options over 250,000 ordinary shares of 0.5 p each ("Ordinary
Shares") in the Company, at an exercise price of 0.5 p each
("Options").
The Company also announces the grant of 38,308 new share options
("LTIP Options") under the Company's Long-Term Incentive Plan
("LTIP"), to the Group's Digital Marketing and Sales Director, Adam
Young.
Exercise of Options
The Options were exercised by Paul Rawson on a cashless basis
such that 125,000 of the Ordinary Shares being issued pursuant to
the exercise have been sold via the Company's broker at a price of
190 p each. The sale was made to fund the associated tax charge and
the transaction costs incurred by Paul Rawson on the exercise of
Options.
Of the 125,000 Ordinary Shares retained, Paul Rawson has
confirmed his intention to transfer approximately 45,000 shares in
his name to his partner, which will be retained in her Individual
Saving Account ("ISA"). These shares will be transferred from Paul
Rawson at the market price at the time of completion of the
trade.
Following this transaction, Paul Rawson will be the beneficial
holder of 158,503 Ordinary Shares in the Company, representing 0.96
per cent. of the Company's total issued share capital.
Issue of Equity, Admission and Total Voting Rights
The 250,000 Ordinary Shares will rank pari passu with the
Company's existing issued shares and are expected to be admitted to
trading on AIM at 8:00a.m. on or around 24 May 2022.
Following this admission, the Group's share capital and total
voting rights will comprise 16,566,215 ordinary shares of 0.5p
each. The Group does not hold any shares in treasury. Consequently,
16,566,215 is the figure which may be used by shareholders as the
denominator for the calculation by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the Company under the FCA's Disclosure and
Transparency Rules.
Grant of New LTIP Options
The vesting of LTIP Options issued under the LTIP is linked to
the performance of the participants, the Group, and the Group's
share prices over pre-established dates. The LTIP has in-built
safeguards against temporarily aberrant share-price behaviour.
The award to Adam Young comprises 12,769 LTIP Options under
Tranche 1 and 25,539 under Tranche 2.
The actual level of vesting of this award will be determined by
the average share price over the 20 consecutive trading days
following the announcement of the 2022 (for Tranche 1) and 2023
(for Tranche 2) Group results. During this period the average share
price must be equal to, or exceed, 200p for Tranche 1 and 250p for
Tranche 2 to achieve a 50% vesting. A share price below those
levels will result in no options being vested for that tranche. If
the average share price is at, or above, 500p (Tranche 1) or 625p
(Tranche 2) then 100% of the options will vest.
Following this award and the exercise and issuance of new shares
as referenced above, 5.33 per cent. of the Company's share capital
will be held under option.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement via Regulatory
Information Service ('RIS'), this inside information is now
considered to be in the public domain.
For further information, please contact:
Yü Group PLC
Bobby Kalar
Paul Rawson +44 (0) 115 975 8258
SP Angel Corporate Finance
LLP
Jeff Keating
Bruce Fraser
Caroline Rowe +44 (0) 20 3470 0470
Tulchan Group
Giles Kernick
Oliver Norgate +44 (0) 20 7353 4200
Pursuant to the notification obligations in accordance with
Article 19 of the Market Abuse Regulation (MAR)
Details of PDMR / person closely associated with them
1. ( 'PCA')
a) Name Paul Rawson
--------------------------------- ---------------------------------------------
Details of PDMR / person closely associated with them
2. ( 'PCA')
--------------------------------------------------------------------------------
a) Position / status Chief Financial Officer
--------------------------------- ---------------------------------------------
b) Initial notification Initial notification
/ amendment
--------------------------------- ---------------------------------------------
Details of the issuer, emission allowance market participant,
3. auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------
a) Name Yü Group PLC
----------------------------------- -------------------------------------------
b) LEI 213800ACO9GDDBM7DS35
----------------------------------- -------------------------------------------
Details of the transaction(s): section to be repeated
4. for (i) each type of instrument;
(ii) each type of transaction; (iii) each date; and (iv)
each place where transactions have been conducted
--------------------------------------------------------------------------------
c) Description Ordinary shares of GBP0.005 each
of the financial
instrument ISIN: GB00BYQDPD80
--------------------------------- ---------------------------------------------
d) Nature of the Cashless exercise of options over ordinary
transaction shares
--------------------------------- ---------------------------------------------
e) Price(s) and Price(s) Volume(s)
volume(s) 1. 0.5p 250,000 Exercise
of Options
2. 1 90p 125,000 Sale of
ordinary shares
--------------------------------- ---------------------------------------------
f) Aggregated information 125,000 ordinary shares received
Aggregated volume
Price
--------------------------------- ---------------------------------------------
g) Date of the 18 May 2022
transaction
--------------------------------- ---------------------------------------------
h) Place of the Off market transaction
transaction
--------------------------------- ---------------------------------------------
Details of PDMR / person closely associated with them
1. ( 'PCA')
a) Name Adam Young
--------------------------------- ---------------------------------------------
Details of PDMR / person closely associated with them
2. ( 'PCA')
--------------------------------------------------------------------------------
a) Position / status Digital Sales & Marketing Director
--------------------------------- ---------------------------------------------
b) Initial notification Initial notification
/ amendment
--------------------------------- ---------------------------------------------
Details of the issuer, emission allowance market participant,
3. auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------
a) Name Yü Group PLC
----------------------------------- -------------------------------------------
b) LEI 213800ACO9GDDBM7DS35
----------------------------------- -------------------------------------------
Details of the transaction(s): section to be repeated
4. for (i) each type of instrument;
(ii) each type of transaction; (iii) each date; and (iv)
each place where transactions have been conducted
--------------------------------------------------------------------------------
c) Description Ordinary shares of GBP0.005 each
of the financial
instrument ISIN: GB00BYQDPD80
--------------------------------- ---------------------------------------------
d) Nature of the Grant of LTIP Options
transaction
--------------------------------- ---------------------------------------------
e) Price(s) and Price(s) Volume(s)
volume(s) 1. 0.5p 38,308 Grant of LTIP
Options
---------------------
--------------------------------- ---------------------------------------------
f) Aggregated information
Aggregated volume
Price 38,308
0.5p per share
--------------------------------- ---------------------------------------------
g) Date of the 18 May 2022
transaction
--------------------------------- ---------------------------------------------
h) Place of the Off market transaction
transaction
--------------------------------- ---------------------------------------------
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