16 March 2022
Pebble Beach Systems Group plc
("Pebble" or the "Group")
Grant of Share Options
Pebble Beach Systems Group plc (AIM: PEB), a leading global software business specialising in playout automation and content management solutions for the broadcast and streaming service markets, announces that the Group has today granted options over ordinary shares of 2.5 pence each (the "Ordinary Shares") in the Company (the "Options") to certain Directors at an exercise price of 10.5p, being the closing price on 15 March 2022. The Options granted to the Directors are as follows:
| Director | Title | No. of Options granted | Earliest Exercise Date | Total Options Held |
| Peter Mayhead | CEO | 4,450,000 | 15 March 2027 | 6,550,000 |
| David Dewhurst | FD | 2,000,000 | 15 March 2027 | 2,000,000 |
The Options today have been granted under the 2019 Share Option Scheme, approved by shareholders on 23 May 2019. The options are capable of vesting in three equal tranches vesting on the third, fourth and fifth anniversaries from grant on achievement of performance conditions. The vesting of each tranche will be subject to a performance condition requiring 12.5% compound annual growth in the Company's share price over each tranche's term (i.e. over 3, 4 and 5 years).
Following this announcement, there are a total of 10,426,666 options over Ordinary Shares, representing 8.4% of the current issued share capital of the Company.
For further information please contact:
| Peter Mayhead- CEO David Dewhurst - CFO | +44 (0) 75 55 59 36 02
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finnCap Ltd (Nominated Adviser and Broker) Marc Milmo / Teddy Whiley - Corporate Finance
Tim Redfern / Sunila de Silva - ECM
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+44 (0) 207 220 0500 |
The Company is listed on the LSE AIM market (PEB.L). More information can be found at www.pebbleplc.com.
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Peter Mayhead | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Chief Executive Officer | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name: | Pebble Beach Systems Group plc | ||||
| b) | LEI: | 2138006Q5EZTDJMIBM38 | ||||
| 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: | Options over Ordinary Shares of 2.5 pence each
GB0001482891 | ||||
| b) | Nature of the transaction: | Issue of Options | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: · Aggregated volume: · Price: | Single transaction as in 4 c) above
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| e) | Date of the transaction: | 16 March 2022 | ||||
| f) | Place of the transaction: | Off market transaction | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | David Dewhurst | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Chief Financial Officer | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name: | Pebble Beach Systems Group plc | ||||
| b) | LEI: | 2138006Q5EZTDJMIBM38 | ||||
| 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: | Options over Ordinary Shares of 2.5 pence each
GB0001482891 | ||||
| b) | Nature of the transaction: | Issue of Options | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: · Aggregated volume: · Price: | Single transaction as in 4 c) above
| ||||
| e) | Date of the transaction: | 16 March 2022 | ||||
| f) | Place of the transaction: | Off market transaction | ||||
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