Grant of Options & PDMR Dealings

Source: RNS
RNS Number : 6797R
React Group PLC
07 June 2024
 

7 June 2024

 

REACT Group plc

("REACT" or the "Company")

 

Grant of Options & PDMR Dealings

 

The Board of REACT (AIM: REAT), the leading specialist cleaning and soft facilities management services provider announces certain dealings in its shares as detailed below.

 

Grant of Options

 

On 6 June 2024, the Company granted 910,000 options over new ordinary shares of 12.5p each in the Company (the "Ordinary Shares") to certain employees (the "Options"). Certain Persons Discharging Managerial Responsibility ("PDMRs") were granted Options as follows:

 

PDMR

Role

Number of Options granted

Total number of Options over Ordinary Shares now held

Spencer Dredge

Chief Financial Officer

440,000

440,000

Dave Rudge*

Director

150,000

150,000

Chris Ryan*

Director

150,000

150,000

Justin Fleming

Group Financial Controller

90,000

90,000

Sam Haywood*

Group Sales Director

80,000

220,366

 

*Dave Rudge, Chris Ryan & Sam Haywood are Directors of Company subsidiaries and not REACT Group plc

 

The Options have an exercise price of 12.5p (equivalent to the nominal value of an Ordinary Share) and, once vested, are exercisable from the date two years after the date of grant up to five years after the date of the grant, subject to performance conditions set out below.

 

The Options vest subject to performance criteria whereby the average mid-market closing share price of the Company's Ordinary Shares in any consecutive ten-day period until 6 June 2029 remains above the defined levels, as follows:

 

Share price at or above

% of total vesting

Cumulative % of total vesting

100p

20%

20%

125p

20%

40%

150p

20%

60%

175p

20%

80%

200p

20%

100%

 

The Options granted represent 6.4% of the Company's current issued share capital. In total 2,442,364 Options are now outstanding, representing 11.2% of the Company's current issued share capital.

 

Director Dealings

 

On 7 June 2024, the Company was notified that Rob Gilbert, Non-Executive Director, sold 10,500 Ordinary Shares at a price of 75.55p. Following this transaction, Rob holds 4,303 Ordinary Shares in the Company, representing 0.02% of the issued share capital.

 

Further details are set out in the below notification, made in accordance with the requirements of the UK Market Abuse Regulation.  

 

For more information:

 

REACT Group

Tel: +44 (0) 1283 550 503

Shaun Doak, Chief Executive Officer

Spencer Dredge, Chief Financial Officer


Mark Braund, Chairman




Singer Capital Markets - Nominated Adviser & Joint Broker

Tel: +44 (0) 207 496 3000

Philip Davies / Alex Bond / Oliver Platts




Dowgate Capital - Joint Broker

Tel: +44 (0) 20 3903 7715

Stephen Norcross / Nicholas Chambers


 


IFC Advisory - Financial PR & IR

Tel: +44 (0) 20 3934 6630

Graham Herring / Zach Cohen


 

 

About Us:

REACT Group plc, the UK's leading specialist cleaning and soft facilities management services business, operates with three divisions: LaddersFree, one of the largest commercial window cleaning businesses in the UK; Fidelis Contract Services ("Fidelis"), a contract cleaning and soft facilities maintenance business; and REACT business, which primarily provides a solution to emergency and specialist cleaning situations, both through long-term framework agreements and on an ad-hoc basis.

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

1.    Spencer Dredge

2.    Dave Rudge

3.    Chris Ryan

4.    Justin Fleming

5.    Sam Haywood

2

Reason for the notification

a)

Position/status

1.    Chief Financial Officer

2.    Director

3.    Director

4.    Group Financial Controller

5.    Group Sale Director

b)

 

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

REACT Group PLC

b)

LEI

213800H54C4GOFN7MO32

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, type of instrument

Identification code

Ordinary shares of 12.5 pence each

GB00BZ2JBG28

b)

Nature of the transaction

Grant of Options

c)

Price(s) and volume(s)

  Price(s)

Volume(s)

1.    12.5p

2.    12.5p

3.    12.5p

4.    12.5p

5.    12.5p

1.    440,000

2.    150,000

3.    150,000

4.    90,000

5.    80,000

 

d)

Aggregated information

- Aggregated volume

- Price


N/A - single transaction

e)

Date of the transaction

6 June 2024

f)

Place of the transaction

Off market

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Robert Gilbert

 

2

Reason for the notification

a)

Position/status

Non-Executive Director

 

b)

 

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

REACT Group PLC

b)

LEI

213800H54C4GOFN7MO32

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, type of instrument

Identification code

Ordinary shares of 12.5 pence each

GB00BZ2JBG28

b)

Nature of the transaction

Sale of Ordinary Shares

c)

Price(s) and volume(s)

  Price(s)

Volume(s)

75.55p

10,500

 

d)

Aggregated information

- Aggregated volume

- Price


N/A - single transaction

e)

Date of the transaction

7 June 2024

f)

Place of the transaction

London Stock Exchange

 

 

 

 

 

 

 

 

 

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