LEARNING TECHNOLOGIES GROUP PLC — Director's Dealing 2021

Dec 31, 2021

National Storage Mechanism | Additional information

RNS Number : 1158X

Learning Technologies Group PLC

31 December 2021

31 December 2021

Learning Technologies Group plc

("LTG", the "Group")

(AIM: LTG)

Grant of options, director dealing and PDMRs

Pursuant to the adoption of a new long term incentive plan ("LTIP"), the Company confirms the grant of share options with an option price of £0.00375 per share (the "Awards") to the following executive directors and PDMRs:

Executive Directors:

Jonathan Satchell, Chief Executive: 6,000,000

Kath Kearney-Croft, Chief Financial Officer: 3,000,000

Piers Lea, Chief Strategy Officer: 3,000,000

PDMRs:

Claire Walsh, Head of Legal and Company Secretary: 1,500,000

Nick Bowyer, Chief Operating Officer: 2,000,000

The grant of the Awards is conditional on each recipient waiving and forfeiting all of their existing share options in the Company.

The Awards will vest: 50% on the fourth anniversary of the grant date and 50% on the fifth anniversary of the grant date; and in each case subject to the satisfaction of challenging performance conditions, which are summarised below. All awards are subject to a holding period which will end on the fifth anniversary of the grant date.

66.67% of the Award Shares will be subject to the following TSR performance conditions:

Equivalent CAGR of TSR of the Company over the Performance Period	% of Award Shares subject to the TSR Performance Condition capable of Vesting (i.e. expressed as a percentage of 66.67% of the total number of Shares originally subject to the Award)
Less than 10% p.a.	0%
10% p.a.	0%
Between 10% p.a. and 20% p.a.	Straight-line Vesting between 0% and 50%
20% p.a.	50%
Between 20% p.a. and 25% p.a.	Straight-line Vesting between 50% and 100%
25% p.a. or more	100%

33.3% of the Award Shares will be subject to the following EPS Performance Conditions:

Equivalent CAGR of EPS during the Performance Period	% of Award Shares subject to the EPS Performance Condition capable of Vesting (i.e. expressed as a percentage of 33.33% of the total number of Shares originally subject to the Award)
Less than 10% p.a.	0%
10% p.a.	0%
Between 10% p.a. and 20% p.a.	Straight-line Vesting between 0% and 50%
20% p.a.	50%
Between 20% p.a. and 25% p.a.	Straight-line Vesting between 50% and 100%
25% p.a. or more	100%

The Company's Remuneration Committee consulted with leading shareholders on the LTIP awards and performance conditions.

Enquiries:
Learning Technologies Group plc Jonathan Satchell, Chief Executive Kath Kearney-Croft, Chief Financial Officer	+44 (0)20 7402 1554
Numis Securities Limited (NOMAD and Corporate Broker) Stuart Skinner, Nick Westlake, Ben Stoop	+44 (0)20 7260 1000
Goldman Sachs International (Joint Corporate Broker) Bertie Whitehead, Adam Laikin	+44 (0)20 7774 1000
FTI Consulting (Public Relations Adviser) Rob Mindell, Jamie Ricketts, Jamille Smith	+44 (0)20 3727 1000

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