DG Innovate PLC Grant of options & LTIP update (7176C)
13 Oktober 2022 - 8:00AM
UK Regulatory
TIDMDGI
RNS Number : 7176C
DG Innovate PLC
13 October 2022
13 October 2022
DG Innovate plc
("DG Innovate" or the "Company")
Grant of options, LTIP update and Director/ PDMR
Shareholding
DG Innovate (LSE: DGI), the advanced research and development
company pioneering sustainable and environmentally considerate
improvements to electric mobility and energy storage, announces
that, in accordance with its remuneration policy, on 12 October
2022 the Company approved the adoption of an executive share option
scheme (the "Scheme") and granted under the terms of the Scheme
690,790,814 options with an exercise price of 0.1p per share over
ordinary shares of GBP0.001 each in the capital of the Company to
its CEO, Peter Tierney (the "Options").
The vesting of the Options will occur on either (i) the
occurrence of a change in control of the Company or (ii) Peter
Tierney remaining as an employee of any DG group company until 12
October 2025.
The Company has an existing long term incentive plan ("LTIP")
which was adopted on 9 April 2022 as a discretionary executive
share plan. Under the LTIP, the board may, within certain limits
and subject to any applicable performance conditions, grant to
eligible employees options to acquire nominal cost options over
shares ("LTIP Options"). The Company confirms the lapse of
72,048,463 LTIP Options at an exercise price of 0.1p per share
granted to Christopher Theis, following his resignation as CEO from
the Company, effective on 1 July 2022. On 12 October 2022, the
board also approved an amendment to the LTIP, increasing the total
number of options over shares that may be granted to employees,
from 10% to 15% of the issued share capital.
The Options granted to Peter Tierney on 12 October 2022
represent approximately 7.81% of the Company's issued share
capital. In total 2,505,041,874 options are now outstanding,
representing approximately 28.3% of the Company's issued share
capital. Of this total, 1,182,544,374 are LTIP Options or options
granted pursuant to the Scheme, which represent approximately 13.4%
of the Company's issued share capital.
The information set out below is provided in accordance with the
requirements of Regulation 19(3) of the EU Market Abuse Regulation
No 596/2014:
Details of the person discharging managerial responsibilities/person
1 closely associated
(a) Name Peter Tierney
------------------------------------ ---------------------------------
Reason for the notification
2
-----------------------------------------------------------------------
(a) Position/status Chief Executive Officer
------------------------------------ ---------------------------------
(b) Initial notification/Amendment Initial notification
------------------------------------ ---------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
(a) Name DG Innovate Plc
------------------------------------ ---------------------------------
(b) LEI 21380058VQBP76M7TN11
------------------------------------ ---------------------------------
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
-----------------------------------------------------------------------
(a) Description of the financial Ordinary shares of
instrument, type of instrument 0.1 pence each
Identification code ISIN GB00BYQD5059
DGI
------------------------------------ ---------------------------------
(b) Nature of the transaction Award of GBP0.001
options under the
Executive Share Option
Scheme
------------------------------------ ---------------------------------
(c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.001 690,790,814
------------------------------------ ---------------------------------
(d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------------ ---------------------------------
(e) Date of the transaction 12 October 2022
------------------------------------ ---------------------------------
(f) Place of the transaction Outside a trading
venue
------------------------------------ ---------------------------------
For further information please contact:
DG Innovate plc C/O IFC
Peter Tierney, CEO
Jack Allardyce, CFO
IFC Advisory (Financial PR & IR) 020 3934 6630
Tim Metcalfe
Zach Cohen
Grant Thornton UK LLP (Financial Adviser)
Samantha Harrison
Jamie Barklem
Daphne Zhang
Ciara Donnelly 020 7383 5100
OvalX (Joint Broker) 020 7392 1400
Tom Curran
Thomas Smith
WH Ireland (Joint Broker) 020 7220 1666
Chris Hardie
Megan Liddell
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END
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