Last checked at 31 Aug 2018 10:17
31 August 2018
Microgen Plc (the "Company")
Grant of awards under the Company's Performance Share Plan 2016 ("PSP")
On 30 August 2018 Microgen Plc granted awards in the form of options over ordinary shares ("Ordinary Shares") under the PSP to the following Directors. Each option has an exercise price per Ordinary Share equal to the nominal value of an Ordinary Share.
Director | Number of Ordinary Shares over which award granted |
SIMON BAINES | 46,289 |
TOM CRAWFORD | 57,087 |
PHILIP WOOD | 49,799 |
Each award has been granted subject to performance conditions based on stretching targets relating to growth in Earnings Per Share over performance period of three financial years starting with 2018 (as regards 50% of each award) and the Company's Total Shareholder Return over the same performance period relative to the TSRs of the constituents of the FTSE SmallCap Index (excluding investment trusts) (as regards 50% of each award), as set out below.
EPS element
Annual compound growth in EPS | Percentage of the EPS element that vests |
10% | 25% |
Greater than 10% but less than 12% | Determined on a straight line basis between 25% and 100% |
12% or greater than 12% | 100% |
TSR element
Rank of the Company's TSR against the Comparator Group | Percentage of the TSR element that vests |
Median | 25% |
Between upper quartile and median | Determined on a straight line basis between 25% and 100% |
Upper quartile or above | 100% |
Each award is subject to a further performance condition that the extent of vesting reflects the overall financial performance of the Company over the performance period.
Each award will, ordinarily, vest on the second anniversary of the date on which the Company's Remuneration Committee determines the extent to which the performance conditions have been satisfied.
Notification and public disclosure of transactions by PDMRs and persons closely associated with them
1. | Details of PDMR / person closely associated with them ("PCA") | |||||||||||||
a) | Name | (i) Simon Baines (ii) Tom Crawford (iii) Philip Wood | ||||||||||||
2. | Reason for the notification
| |||||||||||||
a) | Position / status | (i) Executive Director (CEO, Microgen Financial Systems) (ii) Executive Director (CEO, Aptitude Software) (iii) Executive Director (Chief Financial Officer)
| ||||||||||||
b) | Initial notification / amendment | Initial notification | ||||||||||||
3. | Details of the issuer | |||||||||||||
a) | Name | Microgen Plc
| ||||||||||||
b) | LEI | 2138009VHA1WI2VKMA28 | ||||||||||||
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, type of instrument | Ordinary shares of 6 3/7 pence each | ||||||||||||
b) | Identification code | GB00BVVHWX30 | ||||||||||||
c) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Performance Share Plan 2016 | ||||||||||||
d) | Price(s) and volume(s) |
| ||||||||||||
e) | Aggregated information - Volume - Price | N/A | ||||||||||||
f) | Date of the transaction | 30 August 2018 | ||||||||||||
g) | Place of the transaction | Outside a trading venue | ||||||||||||
Name of contact: MARK HEATHER, COMPANY SECRETARY
Address of contact: OLD CHANGE HOUSE, 128 QUEEN VICTORIA STREET, LONDON, EC4V 4BJ
Telephone number of contact: 020 7496 8100
www.microgen.com