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MIRRIAD ADVERTISING PLC
Director's Dealing • Jun 6, 2022
7791_dirs_2022-06-06_1843ece2-4d99-4e84-a209-17a509bb4fc6.html
Director's Dealing
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National Storage Mechanism | Additional information 
RNS Number : 8192N
Mirriad Advertising PLC
06 June 2022
6 June 2022
Mirriad Advertising plc
("Mirriad" or the "Company")
LTIP option awards and PDMR dealings
Mirriad Advertising plc, the leading in-content advertising company, announces that, under the terms of the Company's long-term incentive plan ("LTIP"), a total of 3,758,765 options over Ordinary Shares in the Company at an exercise price set at the previous day's market close of 21p (the "Options") were granted on 6 June 2022 to a director, senior managers and employees.
Director and PDMR option awards
| Name and position | Number of shares subject to option |
| David Dorans, Chief Financial Officer (Director of the Company) | 442,500 |
| Mark Melvin, EVP North America (PDMR) | 284,016 |
| Miles Lewis, Chief Revenue Officer (PDMR) | 209,000 |
| Philip Mattimoe, Chief Technology Officer (PDMR) | 321,750 |
| Rajasekhar Parakkal, MD India (PDMR) | 146,000 |
| Phil McLauchlan, Chief Scientist (PDMR) | 126,750 |
| Tim Jones, Global Head of Research & Insights (PDMR) | 116,210 |
| Jamie Allen, Group Financial Controller & Company Secretary (PDMR) | 79,500 |
| Lateef Mirza, Director of Programme Management (PDMR) | 82,500 |
The Company has granted 1,808,226 Options to senior managers who are either Directors or deemed PDMRs. These options will vest after two years on 6 June 2024 and will add to existing option awards, which were initially granted on 18th May 2020 and will fully vest on 18th May 2023.
Going forward, the Company's Remuneration Committee intends to grant options to senior managers annually.
Other senior managers and employee option awards
The Company has granted 468,182 Options to six existing senior managers, who are not regarded as PDMRs. These will also vest after two years on 6 June 2024 and will add to existing option grants, which were also initially granted on 18th May 2020.
The Company has granted 858,000 Options to two new US-based senior managers, who are not regarded as PDMRs. These options will vest in equal annual installments on 6 June 2023, 2024 and 2025.
In continutation of the Company's policy to widen share option participation among its staff to incentivise and retain a broader group of employees, a total of 624,357 Options have been granted to employees of the Company in the UK and US. These employee options will vest in three annual instalments with the first vesting taking place 24 months after the date of grant and will fully vest by 6 June 2026.
Total options granted
The grant of 3,758,765 Options equates to 1.3% of the Company's existing issued share capital (the "ISC"). In total, following the grant of these Options, 27,164,907 options are now under grant but not exercised under the Mirriad Advertising plc LTIP scheme (the "Total Options"), which equates to 9.7% of the ISC. The weighted average price of the Total Options is approximately 18.9p.
The notifications below are made in accordance with the requirements of the Market Abuse Regulations.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | David Dorans |
| 2 | Reason for the notification | |
| a) | Position / status | Chief Financial Officer (Director) |
| b) | Initial notification / amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Mirriad Advertising plc |
| b) | LEI | 213800ZKOK9GIME7HE62 |
| 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 £0.00001 each ISIN: GB00BF52QY14 |
| b) | Nature of the transaction | Grant of Options |
| c) | Price(s) and volume(s) | Exercise price 21p, volume 442,500 |
| d) | Aggregated information - Aggregated volume - Price |
442,500 £92,925 |
| e) | Date of the transaction | 6 June 2022 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Mark Melvin |
| 2 | Reason for the notification | |
| a) | Position / status | EVP North America (PDMR) |
| b) | Initial notification / amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Mirriad Advertising plc |
| b) | LEI | 213800ZKOK9GIME7HE62 |
| 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 £0.00001 each ISIN: GB00BF52QY14 |
| b) | Nature of the transaction | Grant of Options |
| c) | Price(s) and volume(s) | Exercise price 21p, volume 284,016 |
| d) | Aggregated information - Aggregated volume - Price |
284,016 £69,643.36 |
| e) | Date of the transaction | 6 June 2022 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Miles Lewis |
| 2 | Reason for the notification | |
| a) | Position / status | Chief Revenue Officer (PDMR) |
| b) | Initial notification / amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Mirriad Advertising plc |
| b) | LEI | 213800ZKOK9GIME7HE62 |
| 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 £0.00001 each ISIN: GB00BF52QY14 |
| b) | Nature of the transaction | Grant of Options |
| c) | Price(s) and volume(s) | Exercise price 21p, volume 209,000 |
| d) | Aggregated information - Aggregated volume - Price |
209,000 £43,890 |
| e) | Date of the transaction | 6 June 2022 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Philip Mattimoe |
| 2 | Reason for the notification | |
| a) | Position / status | CTO (PDMR) |
| b) | Initial notification / amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Mirriad Advertising plc |
| b) | LEI | 213800ZKOK9GIME7HE62 |
| 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 £0.00001 each ISIN: GB00BF52QY14 |
| b) | Nature of the transaction | Grant of Options |
| c) | Price(s) and volume(s) | Exercise price 21p, volume 292,500 |
| d) | Aggregated information - Aggregated volume - Price |
321,750 £67,567.50 |
| e) | Date of the transaction | 6 June 2022 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Rajasekhar Parakkal |
| 2 | Reason for the notification | |
| a) | Position / status | MD India (PDMR) |
| b) | Initial notification / amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Mirriad Advertising plc |
| b) | LEI | 213800ZKOK9GIME7HE62 |
| 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 £0.00001 each ISIN: GB00BF52QY14 |
| b) | Nature of the transaction | Grant of Options |
| c) | Price(s) and volume(s) | Exercise price 21p, volume 146,000 |
| d) | Aggregated information - Aggregated volume - Price |
146,000 £30,660 |
| e) | Date of the transaction | 6 June 2022 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Philip McLauchlan |
| 2 | Reason for the notification | |
| a) | Position / status | Chief Scientist (PDMR) |
| b) | Initial notification / amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Mirriad Advertising plc |
| b) | LEI | 213800ZKOK9GIME7HE62 |
| 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 £0.00001 each ISIN: GB00BF52QY14 |
| b) | Nature of the transaction | Grant of Options |
| c) | Price(s) and volume(s) | Exercise price 21p, volume 126,750 |
| d) | Aggregated information - Aggregated volume - Price |
126,750 £26,617.50 |
| e) | Date of the transaction | 6 June 2022 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Tim Jones |
| 2 | Reason for the notification | |
| a) | Position / status | Global Head of Research & Insights (PDMR) |
| b) | Initial notification / amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Mirriad Advertising plc |
| b) | LEI | 213800ZKOK9GIME7HE62 |
| 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 £0.00001 each ISIN: GB00BF52QY14 |
| b) | Nature of the transaction | Grant of Options |
| c) | Price(s) and volume(s) | Exercise price 21p, volume 116,210 |
| d) | Aggregated information - Aggregated volume - Price |
116,210 £362,667 |
| e) | Date of the transaction | 6 June 2022 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Jamie Allen |
| 2 | Reason for the notification | |
| a) | Position / status | Group Financial Controller & Company Secretary (PDMR) |
| b) | Initial notification / amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Mirriad Advertising plc |
| b) | LEI | 213800ZKOK9GIME7HE62 |
| 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 £0.00001 each ISIN: GB00BF52QY14 |
| b) | Nature of the transaction | Grant of Options |
| c) | Price(s) and volume(s) | Exercise price 21p, volume 79,500 |
| d) | Aggregated information - Aggregated volume - Price |
79,500 £16,695 |
| e) | Date of the transaction | 6 June 2022 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Lateef Mirza |
| 2 | Reason for the notification | |
| a) | Position / status | Director, Programme Management (PDMR) |
| b) | Initial notification / amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Mirriad Advertising plc |
| b) | LEI | 213800ZKOK9GIME7HE62 |
| 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 £0.00001 each ISIN: GB00BF52QY14 |
| b) | Nature of the transaction | Grant of Options |
| c) | Price(s) and volume(s) | Exercise price 21p, volume 82,500 |
| d) | Aggregated information - Aggregated volume - Price |
82,500 £17,325 |
| e) | Date of the transaction | 6 June 2022 |
| f) | Place of the transaction | Outside a trading venue |
ENDS
Enquiries:
For further information please visit www.mirriad.com or contact:
Mirriad Advertising plc
Stephan Beringer, Chief Executive Officer
David Dorans, Chief Financial Officer
Tel: +44 (0)207 884 2530
Financial Adviser, Nominated Adviser and Broker:
Panmure Gordon
Alina Vaskina / James Sinclair-Ford (Corporate Advisory)
Erik Anderson (Corporate Broking)
Tel: +44 (0)20 7886 2500
Financial Communications:
Charlotte Street Partners
Tom Gillingham Tel: +44 (0) 7741 659021
Andrew Wilson Tel: +44 (0) 7810 636995
About Mirriad
Mirriad's award-winning solution unleashes new revenue for content producers and distributors by creating new advertising inventory in content. Our patented, AI and computer vision technology dynamically inserts products and innovative signage formats after content is produced. Mirriad's market-first solution seamlessly integrates with existing subscription and advertising models, and dramatically improves the viewer experience by limiting commercial interruptions.
Mirriad currently operates in the US, Europe and China.
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