AEOREMA COMMUNICATIONS PLC — Remuneration Information 2021

Apr 30, 2021

National Storage Mechanism | Additional information

RNS Number : 3094X

Aeorema Communications Plc

30 April 2021

Aeorema Communications plc / Index: AIM / Epic: AEO / Sector: Media 

30 April 2021

Aeorema Communications plc ('Aeorema' or the 'Company')

Grant of options

Aeorema Communications plc, the AIM-traded live events agency, announces the grant of options ("Options") over new ordinary shares of 12.5 pence each in the Company ("Ordinary Shares").

A total of 900,000 Options have been granted, in aggregate, to Steve Quah (Chief Executive Officer), Andrew Harvey (Managing Director) and Hannah Luffman (Strategy Director, a non-Board role), details of which are set out below, under the Company's EMI share option scheme.

Name	Number of Options granted	Resulting number of Ordinary Shares under option
Steve Quah	300,000	900,000
Andrew Harvey	300,000	600,000
Hannah Luffman	300,000	300,000

Each of the Options are exercisable as to:

·    100,000 Options at 31 pence per Ordinary Share;

·    100,000 Options at 50 pence per Ordinary Share; and

·    100,000 Options at 70 pence per Ordinary Share.

The exercise prices represent the following premiums to the average closing mid-market price of an Ordinary Share in the thirty days to 29 April 2021

·    31p exercise price = 5 per cent. premium

·    50p exercise price = 69 per cent. premium

·    70p exercise price = 137 per cent. premium

The Options will vest on 5 November 2023 and can be exercised from the date of vesting until 5:00 p.m. on the business day before the 10th anniversary of the date of grant, being 29 April 2021. The Options granted represent 10 per cent of the Company's current issued share capital. In total 1,920,000 options over Ordinary Shares are now outstanding, representing 21 per cent of the Company's current issued share capital.

The Company is focussed on growth both organically and by selective acquisitions of businesses, teams and talent. The Directors believe that options represent an important incentive to attract, motivate and retain high quality staff. Accordingly, the Company intends to grant up to 400,000 additional Options at appropriate junctures in the future. If all these Options are granted and no existing Options are cancelled or exercised, the Company would have a total of 2,320,000 Options outstanding, representing 25 per cent of the Company's current issued share capital. The Board has agreed that a threshold of 25 per cent. of the Company's issued share capital under option will not be exceeded at any time.

Related party transaction

The aggregated grant of options to Steve Quah and Andrew Harvey is a related party transaction pursuant to rule 13 of the AIM Rules for Companies.  Accordingly, the Directors, other than Steve Quah and Andrew Harvey, having consulted with the Company's nominated adviser, consider that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.

Further details and the information required in accordance with the requirements of the Market Abuse (Amendment) (EU exit) Regulations 2019/310 are set out at the end of this announcement.

For further information visit www.aeorema.com or contact:

Mike Hale	Aeorema Communications plc	Tel: +44 (0) 20 7291 0444
John Depasquale / Liz Kirchner (Corporate Finance) Kelly Gardiner (Sales & Corporate Broking)	Allenby Capital Limited (Nominated Adviser and Broker)	Tel: +44 (0)20 3328 5656
Catherine Leftley	St Brides Partners Ltd	Tel: +44 (0) 20 7236 1177

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Steve Quah	Chief Executive Officer
Andrew Harvey	Managing Director
Hannah Luffman	Strategy Director

2.     

Reason for the notification

a)

Position/status:

See 1a above

b)

Initial notification/Amendment:

Initial notification

3.     

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

a)

Name:

Aeorema Communications plc

b)

LEI:

213800PJBW6O7NDCKJ08

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 12.5p each

ISIN: GB00B4QHH456

b)

Nature of the transaction:

Grant of options over Ordinary Shares

c)

Price(s) and volume(s):

	Price(s)	Volume(s)
Steve Quah	31p	100,000
Andrew Harvey	31p	100,000
Hannah Luffman	31p	100,000

d)

Aggregated information:

Aggregated volume:

Price:

n/a 

e)

Date of the transaction:

29 April 2021

f)

Place of the transaction:

Outside a trading venue

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Steve Quah	Chief Executive Officer
Andrew Harvey	Managing Director
Hannah Luffman	Strategy Director

2.     

Reason for the notification

a)

Position/status:

See 1a above

b)

Initial notification/Amendment:

Initial notification

3.     

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

a)

Name:

Aeorema Communications plc

b)

LEI:

213800PJBW6O7NDCKJ08

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 12.5p each

ISIN: GB00B4QHH456

b)

Nature of the transaction:

Grant of options over Ordinary Shares

c)

Price(s) and volume(s):

	Price(s)	Volume(s)
Steve Quah	50p	100,000
Andrew Harvey	50p	100,000
Hannah Luffman	50p	100,000

d)

Aggregated information:

Aggregated volume:

Price:

n/a 

e)

Date of the transaction:

29 April 2021

f)

Place of the transaction:

Outside a trading venue

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Steve Quah	Chief Executive Officer
Andrew Harvey	Managing Director
Hannah Luffman	Strategy Director

2.     

Reason for the notification

a)

Position/status:

See 1a above

b)

Initial notification/Amendment:

Initial notification

3.     

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

a)

Name:

Aeorema Communications plc

b)

LEI:

213800PJBW6O7NDCKJ08

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 12.5p each

ISIN: GB00B4QHH456

b)

Nature of the transaction:

Grant of options over Ordinary Shares

c)

Price(s) and volume(s):

	Price(s)	Volume(s)
Steve Quah	70p	100,000
Andrew Harvey	70p	100,000
Hannah Luffman	70p	100,000

d)

Aggregated information:

Aggregated volume:

Price:

n/a 

e)

Date of the transaction:

29 April 2021

f)

Place of the transaction:

Outside a trading venue

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