Last checked at 10 Feb 2021 09:03
CML Microsystems Plc
(The 'Company')
Cancellation of Share Options
The Company announces that 57,000 share options over ordinary shares of 5 pence each (the "Ordinary Shares") granted to two PDMRs of the Company (the "Options") were cancelled on 9 February 2021 at the election of the option holders in return for the payment of a one-off cash sum.
Details of the cancellation of the Options are set out below:
PDMR | Role | Number of options being surrendered | Option exercise price (£) | Cash payment (£) |
C A Gurry | Group Managing Director | 20,000 | £2.20 | £32,400 |
H Rudden | Group Sales and Marketing Director | 12,000 | £3.125 | £8,340 |
25,000 | £3.475 | £8,625 | ||
The cash sum paid has been calculated by reference to the closing price of £3.82 per Ordinary Share, being the closing share price on 9 February 2021. Following this cancellation, the remaining share options held by the two PDMRs are set out below:
PDMR | Role | Number of options remaining | Option exercise price (£) | Exercise date |
C A Gurry | Group Managing Director | 30,000 | £3.51 | 15 Sept 2018 to 25 Sept 2025 |
75,000 | £2.79 | 19 Mar 2022 to 18 Mar 2029 | ||
H Rudden | Group Sales and Marketing Director | 55,000 | £5.20 | 28 Mar 2021 to 28 Mar 2028 |
75,000 | £2.79 | 19 Mar 2022 to 18 Mar 2029 | ||
Other share options remain over a total of 1,332,226 Ordinary Shares. These options are exercisable at various prices of between £2.20 and £5.20 and carry expiry dates ranging to 18 March 2029.
CML Microsystems Plc Chris Gurry, Group Managing Director Nigel Clark, Group Chairman & Financial Director
| www.cmlmicroplc.comTel: +44 (0) 1621 875 500 |
Shore Capital Edward Mansfield James Thomas Fiona Conroy - Corporate Broking
| Tel: +44 (0) 20 7408 4090 |
SP Angel Corporate Finance LLP Jeff Keating
| Tel: +44 (0) 203 463 2260 |
Alma PR Josh Royston Caroline Forde Robyn Fisher
| Tel: +44 (0) 20 3405 0205
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About CML Microsystems PLC
CML develops mixed-signal, RF and microwave semiconductors for global communications markets. The Group utilises a combination of outsourced manufacturing and in-house testing with trading operations in the UK, Asia and USA. CML targets sub-segments within Communication markets with strong growth profiles and high barriers to entry. It has secured a diverse, blue chip customer base, including some of the world's leading commercial and industrial product manufacturers.
The spread of its customers and diversity of the product range largely protects the business from the cyclicality usually associated with the semiconductor industry. Growth in its end markets is being driven by factors such as the appetite for data to be transmitted faster and more securely, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial wireless networks for voice and/or data communications linked to the industrial internet of things (IIoT).
The Group is cash-generative, has no debt and is dividend paying.