Measures relating to 2018 and 2019 options grants

4 December 2019

LOOPUP GROUP PLC
("LoopUp Group" or the "Group")

Measures relating to 2018 and 2019 options grants

LoopUp Group plc (LSE AIM: LOOP), the premium remote meetings company, announces that the Group's Remuneration Committee and Board have approved an offer to be made to current employees - excluding co-CEOs Steve Flavell and Michael Hughes - concerning options granted in August 2018 and June 2019.

On 20 August 2018, the Group approved the grant of 2,285,000 options to employees at an exercise price of 440 pence, and on 4 June 2019 the Group approved the grant of 1,078,750 options to employees at an exercise price of 317.5 pence. In both cases these grants included Executive Directors and PDMRs, and were made pursuant to the Group's existing share option schemes.

The Group's Remuneration Committee and the Board consider that these grants have become ineffective in their primary purpose: the future retention of business-critical staff. The Remuneration Committee and Board believe that measures are required to safeguard the retention of key staff and future value for shareholders, and have therefore approved the following measures.

·      All current employees not under notice who were granted options in August 2018 and June 2019 will be given the choice whether to keep those grant contracts as is, or whether to cancel those grant contracts and enter simultaneously into new contracts with different terms as follows:

̶    For re-grants relating to the August 2018 original grant, a 10% reduction in the number of options re-granted, and for re-grants relating to the June 2019 original grant, a 20% reduction in the number of options re-granted

̶    Re-granted options to vest over a fresh four-year period, with one quarter vesting one year after the re-grant and the remaining three quarters vesting monthly over the subsequent 36-month period subject to continuing employment

̶    An exercise price of 75 pence, 11% above the closing middle market price on 2 December 2019 of 67.5 pence, and equal to the exercise price relating to the last batch of options granted prior to the Group's IPO in 2016

·      Co-CEOs, Steve Flavell and Michael Hughes, will waive re-grants relating to the 180,000 options granted to each of them in August 2018 and the 60,000 options granted to each of them in June 2019

This process will result in up to 2,655,000 options granted in August 2018 and June 2019 being cancelled and replaced by up to 2,297,500 new options with an exercise price of 75 pence. The Group will update the market further when the results of these choices put to current employees are confirmed.

Market abuse regulation:

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

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About LoopUp Group plc:

LoopUp (LSE AIM: LOOP) is a premium remote meetings solution. LoopUp helps technology leaders to unlock the true potential of remote meetings in their organisations by combining simple, progressive software with best-in-class audio reliability. Over 2,000 organisations worldwide trust LoopUp's award-wining SaaS solution with their remote meetings, including 20 of the world's top-100 law firms, 24 of the world's top-100 private equity firms, and enterprises such as Travelex, Kia Motors, Planet Hollywood and National Geographic. The Group is headquartered in London, with offices in San Francisco, New York, Boston, Chicago, Dallas, Los Angeles, Atlanta, Denver, Cardiff, Milton Keynes, Madrid, Berlin, Malmo, Hong Kong, Sydney and Barbados, and is listed on the AIM market of the London Stock Exchange (LOOP). For further information, please visit: www.loopup.com.