Grant of options

Universe Group plc (AIM: UNG.L), a leading developer and supplier of point of sale, payment and on-line loyalty systems announces that the Remuneration Committee has today approved the grant of three tranches of share options (“Options”) to subscribe for ordinary shares of 1p each in the Company (“Shares”). These will be granted to Daryl Paton, an executive director (“Director”).

 

Tranche 1

A total of 500,000 Options will be granted under Tranche 1 to the Director.

These Options will have an exercise price of 9.75p and may be exercised only if the Company’s share price is at or above an average of 14.25 pence per share for the four week period following the announcement of the Company’s results for the year ending 31 December 2018.

 

Tranche 2

A further 717,000 Options will be conditionally granted to the Director under Tranche 2. These Options will also have an exercise price of 9.75p and may be exercised only if the Company’s share price is at or above an average of 21p for the four week period following the announcement of the Company’s results for the year ending 31 December 2018. The grant of these Options is conditional on the Director making market purchases of Shares to the value of a percentage of his gross annual salary by an agreed date.

 

Tranche 3

A further 717,000 Options will be conditionally granted to the Director under Tranche 3. These Options will have an exercise price of 9.75p and may be exercised only if the Company’s share price is at or above an average of 32p for the four week period following the announcement of the Company’s results for the year ended 31 December 2018. The grant of these Options is conditional on the Director making market purchases of Shares to a value of a percentage of his gross cash bonus for the financial years ended 31 December 2017 and 2018 within one month of such bonuses becoming payable.

All Options are subject to change of control provisions and expire on the tenth anniversary of grant. 

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+44 (0) 23 8068 9200

George Curl Way, Southampton SO18 2RX, United Kingdom

©2018 by Universe Group plc.

Universe Group plc is a company registered in England and Wales. Our registered office address is George Curl Way, Southampton Hampshire SO18 2RX, United Kingdom.

Registration number is 2639726.