4 November 2022, London – Blackbird plc (AIM: BIRD; OTCQX: BBRDF), the technology licensor, developer and seller of market-leading cloud video platform Blackbird, announces the pricing of the units to be issued under the Company’s Long Term Incentive Plan (the “LTIP”) for the latest LTIP period.
Under the LTIP, which was extended following the approval of shareholders at the 2021 Annual General Meeting, LTIP 1 and LTIP 2 units are designed to allow members of the Company’s management team to share in improving shareholder value above a base share price. The LTIP is designed to reward specific members of the management team through cash payments for actions that drive value creation for shareholders. Each of LTIP 1 and LTIP 2 consists of 5,000 LTIP units that collectively form a pool and the value of each pool is calculated at 5% of the increase in the Company’s share price above the base share price for each pool, respectively.
Full details of the LTIP scheme can be found on the Company’s website under the Investor’s section (see https://www.blackbird.video/investor-relations/).
The Remuneration Committee has set the hurdle price of the LTIP 1 and LTIP 2 units for the current LTIP Period, of 1 January 2022 to 31 December 2024, at 28p and 33p respectively.
|Ian McDonough, Chief Executive Officer|
|Stephen White, Chief Operating and Financial Officer Tel: +44 (0)20 8879 7245|
|Allenby Capital Limited (Nominated Adviser and Broker) |
Nick Naylor (Corporate Finance)
Amrit Nahal (Sales and Corporate Broking)
Tel: +44 (0)20 3328 5656
About Blackbird plc
Blackbird plc operates in the fast-growing SaaS and cloud video market. It has created Blackbird®, the world’s most advanced suite of cloud-native computing applications for video, all underpinned by its lightning-fast codec. Blackbird plc’s patented technology allows for frame accurate navigation, playback, viewing and editing in the cloud. Blackbird® enables multiple applications, which are used by rights holders, broadcasters, sports and news video specialists, esports, live events and content owners, post-production houses, other mass market digital video channels and corporations.
Since it is cloud-native, Blackbird® removes the need for costly, high end workstations and can be used from almost anywhere on almost any device. It also allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for digital distribution, and ultimately results in much more effective monetisation.
Blackbird plc is a licensor of its core video technology under its ‘Powered by Blackbird’ licensing model. Enabling video companies to accelerate their path to true cloud business models, licensees benefit from power and carbon reductions, cost and time savings, less hardware and bandwidth requirements and easy scalability.
Blackbird is best-of-breed
Jon Hanford - Group CTO, Deltatre