3 April 2023
CPPGroup Plc ("CPP", "CPP Group" or the "Company")
Director/PDMR Shareholding
On 31 March 2023, options over ordinary shares of £1 each in the Company ("Ordinary Shares") were awarded to the following Directors under the CPPGroup Plc Deferred Bonus Plan (the "Plan"):
| | Award of Ordinary Shares under the Plan | Resultant interests in unvested Ordinary Shares under incentive plans |
| Simon Pyper | 219,941 | 219,941 |
| David Bowling | 114,370 | 114,370 |
The Plan recognises the importance of long-term engagement and retention of the Executive Management Committee (EMC) to deliver the strategy and change management programme (CMP) which will be to the benefit of all shareholders.
The options awarded under the Plan to Simon Pyper and David Bowling represent their agreement to defer 75% and 65% respectively of their total bonus award for 2022 as the strategy and CMP progresses. The share option awards under the Plan were valued at £1.02 being the average closing price of the Company's shares for a period of 30 days from the announcement of the strategy and CMP on 19 October 2022.
No consideration was paid for the grant of the awards which are structured as nil cost options.
The vesting of an award is subject to the satisfaction of performance conditions set by the Remuneration Committee of the Company. Fifty percent of the awards will vest on 31 December 2023 and the remaining fifty percent on 31 December 2024 and will normally remain exercisable until the day before the tenth anniversary of the date of the grant, provided the individual remains an employee or officer of the Company.
The total number of options awarded under the Plan to the Directors and other EMC members is 635,320.
The total issued share capital as at the date of this announcement is 8,846,045.
Enquiries:
| CPPGroup plc | |
| Sarah Atherton, Company Secretary | Tel: +44 (0)113 4877 367 |
| | |
| Liberum Capital Limited | |
| (Nominated Adviser and Sole Broker) | Tel: +44 (0)20 3100 2000 |
| Richard Lindley | |
| Lauren Kettle | |
| | |
About CPP
CPP Group is a technology-driven assistance company that creates embedded and ancillary real-time assistance products and resolution services that reduce disruption to everyday life for millions of people across the world, at the time and place they are needed, CPP Group is listed on AIM, operated by the London Stock Exchange.
For more information on CPP visit https://international.cppgroup.com.
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| (a) | Name | Simon Pyper David Bowling | |
| 2. | Reason for the notification | ||
| (a) | Position/status | Executive Directors | |
| (b) | Initial notification/ Amendment | Initial notification | |
| 3. | Details of the issuer | ||
| (a) | Name | CPPGroup Plc | |
| (b) | LEI | 213800FRDE79FTQI4X25 | |
| 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 Instrument | Ordinary shares of £1 each | |
| (b) | Identification code of the Financial Instrument | GB00BMDX5Z93 | |
| (c) | Nature of the transaction | Award of share options | |
| (d) | Price(s) and volume(s) | Price(s) | Volume(s) |
| | | N/A | Simon Pyper - 219,941 David Bowling - 114,370 |
| (e) | Aggregated information - Aggregated volume - Price |
n/a n/a | |
| (f) | Date of the transaction | 31 March 2023 | |
| (g) | Place of the transaction | London Stock Exchange, AIM (XLON) | |
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