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RNS Number : 8977Y
Sumo Group PLC
17 May 2021
 

17 May 2021

 

Sumo Group plc

("Sumo Group" or the "Company")

 

Awards under the Sumo Group plc Share Incentive Plan to Executive Directors

 

The Company announces that it received notification on 14 May 2021 from Link Market Services Trustees Limited (the "SIP Trustee") that the SIP Trustee awarded ordinary shares of 1p each in the Company ("Ordinary Shares") to Executive Directors under the Sumo Group plc Share Incentive Plan (the "SIP") on 14 May 2021. 

 

Under the terms of the SIP, each eligible employee can contribute from salary to purchase Partnership Shares and the Company matches these by awarding one Matching Share for each three Partnership Shares purchased.

 

In respect of the Matching Shares, the SIP award has been satisfied by the issue of 471 new Ordinary Shares to the SIP Trustee at a subscription price of 1p per share, being the nominal value of the shares. The SIP Shares shall rank equally with the existing issued shares of the Company. The SIP Shares will be allocated out of the shares which were the subject of the block listing announced on 5 July 2018.

 

In respect of the Partnership Shares, the SIP Trustee has purchased (using the cash contributions made by the Executive Directors) a total of 1,416 Ordinary Shares at a price of 381.5 p per share.

 

PDMR Dealing

 

As participants in the SIP, the Executive Directors are deemed to have an interest in the shares awarded to them and held by the SIP Trustee. Details of the awards under the SIP to the Executive Directors are set out below:

 


Executive Director


Partnership Shares


Matching Shares


Total Share Award

Total Share Holding Post Award

% of Issued Share Capital

Carl Cavers

472

157

629

5,156,172

3.01

David Wilton

472

157

629

697,505

0.41

Paul Porter

472

157

629

4,661,560

2.72

 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation (as retained in UK law), provides further detail.

 

Notification and public disclosure of transactions by person discharging managerial responsibilities and persons closely associated with them:

 

1.

Details of PDMR / person closely associated

a)

Name

(i)           Carl Cavers

(ii)          David Wilton

(iii)         Paul Porter

 

2.

Reason for the notification

a)

Position / status

(i)           Chief Executive Officer

(ii)          Chief Financial Officer

(iii)         Chief Operating Officer

 

b)

Initial notification /amendment

Initial notification

3.

Details of the issuer

a)

Name

Sumo Group plc

b)

LEI

213800LTZXJCG5QKIM14

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

Ordinary Shares of 1p each

b)

Identification code of the Financial Instrument

ISIN for Sumo Group plc: GB00BD3HV384

c)

Nature of the transaction

Acquisition of Ordinary Shares in Sumo Group plc by the SIP Trustees pursuant to the SIP

 

d)

Price(s) and volume(s)

Price

Volume

(i)            Partnership Shares 381.5 p

472

Matching Shares 0 p

157

(ii)           Partnership Shares 381.5 p

472

Matching Shares 0 p

157

(iii)          Partnership Shares 381.5 p

472

Matching Shares 0 p

157

 

e)

Aggregated information

-     Aggregated volume

-     Price

N/A

 

 

 

 

f)

Date of the transaction

14 May 2021

g)

Place of the transaction

Partnership Shares - London Stock Exchange (XLON)

Matching Shares - off market

 

Enquiries:

 

 

Sumo Group plc

Via Belvedere Communications

Carl Cavers, Chief Executive Officer

Tel: +44(0) 7715 769 078

David Wilton, Chief Financial Officer

 

 

 

Zeus Capital Limited (Nominated Adviser & Broker)

 

Nick Cowles / Andrew Jones

Tel: +44 (0) 161 831 1512

Ben Robertson / John Goold

Tel: +44 (0) 203 829 5000

 

 

 Investec Corporate & Investment Banking (Joint Broker)

 

David Flin/Bruce Garrow

Tel: +44(0)207 597 5970

 

 

Belvedere Communications Limited

                                      

Cat Valentine (cvalentine@belvederepr.com)

Tel: +44 (0) 7715 769 078

Keeley Clarke (kclarke@belvederepr.com)

Tel: +44 (0) 7967 816 525

Llew Angus (langus@belvederepr.com)

Tel: +44 (0) 7407 023 147

 

SumoPR@belvederepr.com

 

About Sumo Group - www.sumogroupplc.com 

 

Sumo Group's businesses provide acclaimed development, design and publishing services to the video games and entertainment industries from studios in the UK, India, Canada, the US, and Poland.

 

Sumo Digital, as the Group's primary business, is one of the UK's largest independent developers of AAA-rated video games, having studios in Sheffield, Newcastle, Nottingham, Leamington Spa, Warrington and Pune, India. The business has acquired three studios since IPO, which operate under their own names, BAFTA award-winning The Chinese Room in Brighton, Red Kite Games in Leeds, Lab42 in Leamington Spa and PixelAnt Games in Wroclaw, Poland. Sumo Digital provides turnkey and co-development solutions to a global blue-chip client base.

 

Pipeworks is an innovative, well-established, and respected US video games developer based in Eugene, Oregon. It provides full development, co-development, and live operations to premier video game publishers and other partners.

 

Atomhawk is a multi-award-winning visual design company, with studios in Newcastle and in Vancouver (Canada), servicing the games, film, and visual effects industries.

 

Secret Mode is a video games publisher, focused on delivering fresh and new gaming experiences to players and building expansive and fulfilling communities around those games. It will publish titles developed within Sumo Group and also by independent developers.

 

 

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