THE MISSION GROUP PLC — Remuneration Information 2021

Jun 28, 2021

National Storage Mechanism | Additional information

RNS Number : 2303D

Mission Group PLC (The)

28 June 2021

28 June 2021

The Mission Group plc

("MISSION" "The Company" or "The Group") 

Growth Share Scheme

The Mission Group plc ("MISSION", "the Company" or "the Group", AIM: TMG), the alternative group for ambitious brands, announces the formation of a new senior management retention and incentive scheme.

The Growth Share Scheme Arrangement 2 (the "Scheme") has been designed to further increase cross-selling incentives between the MISSION agencies and focus on driving the Group forward and increasing shareholder value. The Scheme has been launched following the performance condition of the original Growth Share Scheme Arrangement 1, introduced in February 2017, being met in June 2019. It has been created to retain and incentivise those key people who the board believes will be crucial to the MISSION'S long-term ambitions, and only has value to the participants if the share price of the Company increases substantially.

The Scheme

Under the Scheme, individuals are invited to subscribe for B ordinary shares in The Mission Marketing Holdings Limited ("B Shares"). These B Shares are subscribed for at a nominal value of 0.01p per B Share and will only have a material value if at any time in the period ending on the date the Company's financial results for the year ended 31st December 2023 are announced, the closing market value of the Company equals or exceeds 150p per share for fifteen consecutive days when the AIM market is open for business ("Vesting Conditions"). If the Vesting Conditions are met, the individuals will be entitled to require the Company to acquire their B Shares for an equivalent number of Ordinary Shares of 10p each in the Capital of the Company ("Ordinary Shares"), for cash (calculated on the basis of a price per B Share equal to the market value of an Ordinary Share at that time) or for a combination of Ordinary Shares and cash, at the Company's discretion. The B Shares have no value if the Vesting Conditions are not met. 

To achieve the Vesting Conditions, the share price of the Company will need to increase by 106.9% from its current level, representing an increase in market capitalisation of approximately £70m. Under the Scheme, the B Shares would have an aggregate value at this level of approximately £4.7m and could be exchanged for 3,100,000 Ordinary Shares. The total potential number of Ordinary Shares that could be issued under the Scheme and under other existing option schemes is 3,824,046, representing 4.2% of the issued share capital.

In total, 3,100,000 B Shares were subscribed for on 25 June 2021 (the "Award") by a limited number of board members and non-PDMR senior managers. The subscription details for board members of MISSION are detailed below. 

Name	Position	B Shares
Dylan Bogg	Executive Director	72,727
James Clifton	Group Chief Executive	240,000
Julian Hanson-Smith	Non-Executive Director	100,000
Giles Lee	Group Chief Financial Officer	240,000
Sue Mullen	Executive Director	142,857
Andy Nash	Non-Executive Director	72,727
Fiona Shepherd	Executive Director	240,000

* The Vesting Conditions require the closing market value of the Company to equal or exceed 150p per share for fifteen consecutive days when the AIM market is open for business at any time prior to the date on which the Company's financial results for the year ended 31st December 2023 are announced.

Enquiries:  

James Clifton, Chief Executive Giles Lee, Chief Financial Officer The MISSION Group plc	020 7462 1415
Mark Percy / James Thomas / Sarah Mather (Corporate Advisory)
Shore Capital (Nomad and Broker)	020 7408 4090
Kate Hoare / Laura Stewart	0204 529 0549
HOUSTON (Financial PR and Investor Relations)

MISSION is a collective of Creative and MarTech Agencies led by entrepreneurs who encourage an independent spirit. Employing 1,000 people across 27 locations and 3 continents, the Group successfully combines its diverse expertise to bring about commercially effective solutions for some of the world's biggest Clients. 

www.themission.co.uk

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Dylan Bogg
James Clifton
Julian Hanson-Smith
Giles Lee
Sue Mullen Andy Nash
Fiona Shepherd

2

Reason for the notification

a)

Position/status

Dylan Bogg	Executive Director
James Clifton	Group Chief Executive
Julian Hanson-Smith	Non-Executive Director
Giles Lee	Chief Financial Officer
Sue Mullen	Executive Director
Andy Nash	Non-Executive Director
Fiona Shepherd	Executive Director

b)

Initial notification /Amendment

28 June 2021

3

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

a)

Name

The Mission Group plc

b)

LEI

213800L567CF3Z6GPZ03

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

B ordinary shares in The Mission Marketing Holdings Limited, exchangeable into ordinary shares of 10p each the capital of the Company upon the satisfaction of performance criteria 

GB00B11FD453

b)

Nature of the transaction

Award of Growth Shares  

c)

Price(s) and volume(s)

	Price	Volume
Dylan Bogg	0.01p	72,727
James Clifton	0.01p	240,000
Julian Hanson-Smith	0.01p	100,000
Giles Lee	0.01p	240,000
Sue Mullen	0.01p	142,857
Andy Nash	0.01p	72,727
Fiona Shepherd	0.01p	240,000

d)

Aggregated information

- Aggregated volume

- Price

1,108,311

0.01p

e)

Date of the transaction

25 June 2021

f)

Place of the transaction

Off Market

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