This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Group's obligations under Article 17 of MAR.
Altitude Group plc
("Altitude", the "Company" or the "Group")
Grant of Options and PDMR Dealings
Altitude Group plc (AIM: ALT), the operator of a leading marketplace for the global promotional products industry, announces that on 17 May 2024 it granted options over 2,675,000 over ordinary shares of 0.4p each ("Ordinary Shares") in aggregate (the "Options"). The Options are exercisable at nil cost, and included grants of 1,779,000 Options to certain directors of the Group as follows:
· Nichole Stella, Chief Executive Officer, has been issued Options over 862,000 Ordinary Shares. Following the issue of these Options, Nichole will be interested in options over 2,384,000 Ordinary Shares in total.
· Graham Feltham, Chief Financial Officer, has been issued Options over 530,000 Ordinary Shares. Following the issue of these Options, Graham will be interested in options over 1,534,444 Ordinary Shares in total.
· Deborah Wilkinson, Chief Operating Officer, has been issued Options over 387,000 Ordinary Shares. Following the issue of these Options, Deborah will be interested in options over 1,182,001 Ordinary Shares in total.
The Options will vest, subject to the achievement of certain performance conditions, over a 3 year period from the date of grant, and will expire 1 year after the third anniversary of grant. Vesting of the Options is conditional on the achievement of stretching earnings per share and total shareholder return targets, and are only exercisable from the third anniversary of the date of grant.
In aggregate the Options, when added to other employee options already in existence, will result in employee options existing in relation to approximately 10 per cent. of the issued share capital of the Company. Of this, options over 7.9 per cent of the issued share capital of the Company are at exercise prices well in excess of the current share price of the Company, with exercise prices of between 46p and 105p.
For enquiries, please contact:
| Altitude Group plc Nichole Stella, Chief Executive Officer Graham Feltham, Chief Financial Officer
| Via Zeus Capital |
| Zeus (Nominated Adviser & Broker) Dan Bate / David Foreman / James Edis (Investment Banking) Dominic King (Corporate Broking) | Tel: 0203 829 5000 |
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: | i) Nichole Stella ii) Graham Feltham iii) Deborah Wilkinson | ||||
| 2 | Reason for the notification | |||||
| a) | Position/Status:
| i) Chief Executive Officer ii) Chief Financial Officer iii) Chief Operating Officer | ||||
| b) | Initial Notification/Amendment:
| Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor | |||||
| a) | Name: | Altitude Group plc | ||||
| b) | LEI: |
| ||||
| 4. | Details of 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:
Identification code: | Ordinary shares of 0.4p
GB00B0LSFV82 | ||||
| b) | Nature of the transaction:
| Grant of Options | ||||
| c) | Price(s) and volume(s): |
| Price(s) | Volume(s) | ||
| i) | Nil | 862,000 | ||||
| ii) | Nil | 530,000 | ||||
| iii) | Nil | 387,000 | ||||
| d) | Aggregated volume: Price: | See above | ||||
| e) | Date of the Transaction: | 17 May 2024 | ||||
| f) | Place of the Transaction: | Off Market | ||||
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