04 January 2024
LBG Media plc
(the "Company")
Exercise of Options, Director Dealings and Total Voting Rights
LBG Media plc, the owner of the global leader in youth publishing LADbible Group, announces that the Company has allotted and issued 2,459,098 new ordinary shares of £0.001 each ("Ordinary Shares") in the Company (the "Option Shares") pursuant to the exercise of options ("Options") that were awarded to certain Directors prior to the IPO of the Company in 2021 (the "Pre IPO Awards").
The Pre-IPO Awards were one-off awards which vested and became exercisable on the second anniversary of the Company's admission to AIM, conditional on the award holder continuing to serve as a Non-Executive Director at that time. Full details of the Pre IPO Awards were documented in the Admission Document dated 07 December 2021. The Options were exercised by David Wilson (Non-Executive Chairman) and Carol Kane (Non-Executive Director) (together the "Share Option Participants"). Details in relation to the Option Shares issued to the Share Option Participants are contained in the table below.
The Share Option Participants have sold, in aggregate, 1,350,628 Option Shares at a price of approximately 78.4 pence per Option Share, in order to finance the cost of exercising the Options, the resulting income tax and National Insurance liabilities.
Following the exercise of Options and the sale of Option Shares, a total of 1,506,514 Ordinary Shares, are held by the Share Option Participants representing an increase in aggregate holdings from 0.19% to 0.72% of the issued share capital of the Company.
The table below details their interests in the share capital of the Company:
| Director | Position | Ordinary Shares held previously | % of total issued share capital | Number of Ordinary Shares over which Options exercised | Number of Ordinary Shares sold | Resulting total number of Ordinary Shares held | % of enlarged issued share capital |
| David Wilson | Non Executive Chairman | 398,044 | 0.19% | 1,030,527 | 566,004 | 862,567 | 0.41% |
| Carol Kane | Non Executive Director | Nil | Nil | 1,428,571 | 784,624 | 643,947 | 0.31% |
| TOTAL |
| 398,044 | 0.19% | 2,459,098 | 1,350,628 | 1,506,514 | 0.72% |
Admission and Total Voting Rights
Application has been made for the 2,459,098 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission and dealings in those shares will commence at 8.00 a.m. on 08 January 2024.
The Company advises that, immediately following Admission, there will be 209,079,740 Ordinary Shares in issue, with one voting right each. The Company does not hold any shares in treasury. The number of Ordinary Shares with voting rights will therefore be 209,079,740. Accordingly, this number should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, provides further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
|
| Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | David Wilson | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Non Executive Chairman | ||||
| b)
| Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | LBG Media plc | ||||
| b) | LEI | 213800MF1QX5EE3RAV98 | ||||
| 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 £0.001 each in the Company
ISIN: GB00BKPH9R58 | ||||
| b) | Nature of the transaction | (i) Exercise of options (ii) Sale of Ordinary shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
| ||||
| e) | Date of the transaction | 03 January 2024 | ||||
| f) | Place of the transaction | London Stock Exchange, AIM | ||||
|
| Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Carol Kane | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Non Executive Director | ||||
| b)
| Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | LBG Media plc | ||||
| b) | LEI | 213800MF1QX5EE3RAV98 | ||||
| 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 £0.001 each in the Company
ISIN: GB00BKPH9R58 | ||||
| b) | Nature of the transaction | (i) Exercise of options (ii) Sale of Ordinary shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
| ||||
| e) | Date of the transaction | 03 January 2024 | ||||
| f) | Place of the transaction | London Stock Exchange, AIM | ||||
For further information please contact:
| LBG Media plc Solly Solomou, Chief Executive Officer Richard Jarvis, Chief Financial Officer | Via Buchanan |
| Zeus (Nominated Adviser & Joint Broker) Dan Bate / Nick Cowles (Investment Banking) Benjamin Robertson (Equity Capital Markets) | Tel: +44 (0) 161 831 1512 |
| Peel Hunt LLP (Joint Broker) Neil Patel Paul Gillam Richard Chambers | Tel: +44 (0) 207 418 8990 |
| Media enquiries: Buchanan Richard Oldworth / Chris Lane / Toto Berger / Jack Devoy | Tel: +44 (0) 20 7466 5000 |
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