MIRRIAD ADVERTISING PLC — Director's Dealing 2018

Oct 1, 2018

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RNS Number : 5445C

Mirriad Advertising PLC

01 October 2018

Mirriad Advertising plc

long term incentive plan

01 October 2018

Mirriad Advertising plc

("Mirriad" or the "Group")

Long Term Incentive Plan & Director Dealing

Mirriad, a video technology business delivering next generation in-video branding announces grants of options under its Long Term Incentive Plan ("LTIP") set up as part of its IPO in December 2017 to two new senior team members including the new CEO.

The LTIP was established to incentivise management to increase shareholder value over the long term. The Remuneration Committee is keen to ensure that remuneration for the Company's senior team will be effective and fair and motivate them to deliver success for the Company, its shareholders and employees. 

The following awards have been granted:

Director/PDMR	Role	Share Options
Stephan Beringer	CEO & Executive Board Director	4,730,522
Jana Eisenstein	President	788,420

The share options have variable terms as set out below.

·     Stephan Beringer's first Option has been granted over ordinary shares in the Company equal to 2% of the issued share capital of the Company as at the date on which he commenced employment with the Company. That is 2,102,454 shares.  The option vests in three equal installments on the first, second and third anniversaries of the date of grant with an exercise price of £0.00001.

·     Stephan Beringer's second Option has been granted over ordinary shares in the Company equal to 2.5% of the issued share capital of the Company as at the date on which he commenced employment with the Company and Vesting is subject to the performance conditions as set out below:

-      The Option will vest over a four year period with one third of the shares vesting on the second anniversary of the date of grant; one third of the shares vesting on the third anniversary of the date of grant; and one third of the shares vesting on the fourth anniversary of the date of grant.

-      The option exercise price is £0.35.

-      Once vested, the option is only capable of exercise if the market value of  the shares at the proposed exercise date is equal to or exceeds £1.24 per share and has done so for at least fifteen trading days immediately preceding the exercise date. The market value will be determined by reference to the middle-market quotation of the share (as derived from the London Stock Exchange Daily Official List) on the dealing day immediately prior to the exercise date.

An additional grant of 788,420 share options has been made to Jana Eisenstein, President, who has been identified as a PDMR.  The terms are as follows:

-      Jana Eisenstein has been granted options over ordinary shares in the Company equal to 0.75% of the issued share capital of the Company as at the date on which she commenced employment with the Company. That is 788,420 shares.  The option vests in three equal installments on the first, second and third anniversaries of the date of grant with an exercise price of £0.30 which is equal to the market value, determined by reference to the middle-market quotation of the share (as derived from the London Stock Exchange Daily Official List) on the date of grant . 

The entire award represents 5.25% of the current issued share capital of the Company.

Stephan Beringer and Jana Eisenstein are newly appointed and hold no other share options in the Company.

PDMR Notification

1.             

Details of the person discharging managerial responsibilities/person closely associated

(a)          

Full name of person Dealing

Stephan Beringer

2.             

Reason for notification

(b)          

Position/status

CEO & Executive Board Director

(c)           

Initial notification/ Amendment

Initial notification

3.             

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

(d)          

Name of entity

Mirriad Advertising plc

(e)           

LEI

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

Options over ordinary shares in the Company

(b)          

Identification code

(c)           

Nature of the transaction

Grant of options over ordinary shares

(d)          

Price(s) and volume(s)

Prices(s)	Volume(s)
0.001 pence	2,102,454
35 pence	2,268,068

(e)           

Aggregated information:

- Aggregated volume

- Price

Single transaction as in 4(d) above

Prices(s)	Volume(s)
0.001 pence 35 pence	2,102,454 2,268,068

(f)           

Date of transaction

1 October 2018

(g)           

Place of transaction

Outside a trading venue

1.             

Details of the person discharging managerial responsibilities/person closely associated

(a)          

Full name of person Dealing

Jana Eisenstein

2.             

Reason for notification

(a)          

Position/status

President

(b)          

Initial notification/ Amendment

Initial notification

3.             

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

(a)          

Name of entity

Mirriad Advertising plc

(b)          

LEI

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

(c)           

Description of the financial instrument, type of instrument

Options over ordinary shares in the Company

(d)          

Identification code

(e)           

Nature of the transaction

Grant of options over ordinary shares

(f)           

Price(s) and volume(s)

Prices(s)	Volume(s)
30 pence	788,420

(g)           

Aggregated information:

- Aggregated volume

- Price

Single transaction as in 4(d) above

Prices(s)	Volume(s)
30 pence	788,420

(h)          

Date of transaction

1 October 2018

(i)           

Place of transaction

Outside a trading venue

About Mirriad

Mirriad is a video technology company delivering in-video advertising by naturally blending brand advertising into popular entertainment content. 

Using sophisticated technologies, Mirriad creates advertising opportunities within existing premium video across multiple shows. Advertisers can now reach very large target audiences in a contextually relevant way without interrupting the viewing experience. The new ad format can be used alone or combined with other media and is aligned with existing media trading.

Research has consistently shown in-video advertising to be highly effective, safe and measurable for the marketer and preferred by audiences on TV, online, and mobile.

Mirriad is headquartered in London, with International offices in New York, Mumbai, Shanghai and São Paulo.

Enquiries:

Mirriad Advertising plc Stephan Beringer, Chief Executive Officer David Dorans, Chief Financial Officer	Tel: +44 (0)207 884 2530
Numis Securities Limited (Nominated Adviser & Broker) Nick Westlake (Nomad)                     Michael Wharton James Black	Tel: +44 (0) 207 260 1200
Hudson Sandler LLP (Financial Public Relations) Daniel de Belder Bertie Berger	Tel: +44 (0) 20 7796 4133

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