Launch of 2024 SAYE Scheme

iomart Group Plc, the cloud computing company, is pleased to announce that it launched a further Save As You Earn (‘SAYE’) share scheme for all employees, under which employees were offered the opportunity to participate in the future growth of the Company via share option arrangements.

Eligible employees were invited to subscribe for options over the Company’s Ordinary Shares of 1 pence each (‘Ordinary Shares’) with an exercise price of 120.0 pence, a 20 per cent. discount to the closing middle market price of the Company’s Ordinary Shares on 26 January 2024, the trading day before the invitation to participate was made. The options have a contract start date of 1 March 2024 and are exercisable between 1 March 2027 and 31 August 2027.

A total of 64 employees elected to participate in this further scheme, and pursuant to these elections a total of 320,668 options over Ordinary Shares were issued, equating to 0.29 per cent. of the issued share capital at 1 March 2024.

One of the Directors of the Company, detailed below, elected to participate in the SAYE scheme and are included in the total figures above.

As a result of this option grant, this Director’s interests in Ordinary Shares are as follows:

Director                 Options granted over Ordinary Shares         Total interest held under option                % of issued share capital                                          
                                                under 2024 SAYE scheme               

Lucy Dimes                                            15,458                                                                      628,041                                                                  0.56%