GRANT OF OPTIONS AND PDMR DEALINGS-ALTITUDE GROUP PLC

GRANT OF OPTIONS AND PDMR DEALINGS-ALTITUDE GROUP PLC

Grant of Options and PDMR Dealings

Altitude Group plc (AIM: ALT), the operator of a leading marketplace for the global promotional products industry, announces that on 17 May 2024 it granted options over 2,675,000 over ordinary shares of 0.4p each ("Ordinary Shares") in aggregate (the "Options"). The Options are exercisable at nil cost, and included grants of 1,779,000 Options to certain directors of the Group as follows: 

·      Nichole Stella, Chief Executive Officer, has been issued Options over 862,000 Ordinary Shares. Following the issue of these Options, Nichole will be interested in options over 2,384,000 Ordinary Shares in total.

·      Graham Feltham, Chief Financial Officer, has been issued Options over 530,000 Ordinary Shares. Following the issue of these Options, Graham will be interested in options over 1,534,444 Ordinary Shares in total.

·      Deborah Wilkinson, Chief Operating Officer, has been issued Options over 387,000 Ordinary Shares. Following the issue of these Options, Deborah will be interested in options over 1,182,001 Ordinary Shares in total.

The Options will vest, subject to the achievement of certain performance conditions, over a 3 year period from the date of grant, and will expire 1 year after the third anniversary of grant. Vesting of the Options is conditional on the achievement of stretching earnings per share and total shareholder return targets, and are only exercisable from the third anniversary of the date of grant.

In aggregate the Options, when added to other employee options already in existence, will result in employee options existing in relation to approximately 10 per cent. of the issued share capital of the Company. Of this, options over 7.9 per cent of the issued share capital of the Company are at exercise prices well in excess of the current share price of the Company, with exercise prices of between 46p and 105p.

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