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Grant of Options

20 Jul 2017 07:00

RNS Number : 5985L
Castleton Technology PLC
20 July 2017
 

Castleton Technology plc

 ("Castleton", the "Group" or the "Company")

Grant of Options

Castleton (AIM: CTP), the software and managed services provider to the public and not-for-profit sectors, announces that on 19 July 2017 it resolved to award the following options over new ordinary shares of 2 pence each in the capital of the Company ("Ordinary Shares") to Dean Dickinson, Chief Executive Officer.

 

· Growth shares which entitle Dean to a payment in cash or new Ordinary Shares (at the Company's discretion) with a value equal to 787,148 multiplied by the growth in Castleton's share price above 69 pence, being the mid closing price on 19 July 2017. The growth shares are subject to performance criteria related to share price growth; and

 

· Nil cost options over 787,148 Ordinary Shares subject to certain vesting criteria.

 

Dean also holds options over 1.4% of the fully diluted share capital of the Company which are a combination of EMI Share Options and Employee Share Scheme Options ("Existing Options"). The Existing Options are evergreen, meaning that the percentage of the fully diluted issued share capital held under option will remain constant, notwithstanding any further issues of ordinary shares of 2 pence in the capital of the Company. The Existing Options are subject to performance criteria related to share price growth.

 

 

 

Enquiries:

 

Castleton Technology plc

Dean Dickinson, Chief Executive Officer

Haywood Chapman, Chief Financial Officer

 

Tel. +44 (0)845 241 0220

 

 

finnCap

Jonny Franklin-Adams / Simon Hicks

 

MXC Capital Markets LLP

Marc Young / Charlotte Stranner

 

Tel. +44 (0)20 7220 0500

 

 

Tel. +44(0)20 7965 1849

 

 

Alma PRJosh Royston

Tel. +44(0) 7780 901979

 

About Castleton Technology plc

 

Castleton Technology plc is a leading supplier of complementary software and managed services to the public and not-for-profit sectors. The acquisitions of Montal, Documotive, Opus, Keylogic, Brixx, Impact Applications and Kypera bring together an exceptional suite of solutions, providing the foundation for this platform. Castleton works in partnership with its customers and resellers to help drive efficiencies whilst improving controls and customer service. www.castletonplc.com 

 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Dean Dickinson

2.

Reason for the Notification

a)

Position/status

CEO

b)

Initial notification/Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Castleton Technology plc

b)

LEI

2138007AHX5UT6CO5L76

4.1

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

D ordinary shares of 0.001 pence each in the capital of Castleton Technology Intermediate Holding Company Limited ("D Shares")

Identification code

n/a

b)

Nature of the transaction

Issue of D Shares under Long Term Incentive Scheme

c)

Price(s) and volume(s)

Price(s)

Volume(s)

n/a

100

d)

Aggregated information:

· Aggregated volume

· Price

n/a

e)

Date of the transaction

19 July 2017

f)

Place of the transaction

Outside a trading venue

4.2

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

Options over ordinary shares of 2 pence each ("Options")

Identification code

GB00BYV2WV72

b)

Nature of the transaction

Issue of Options under Long Term Incentive Scheme

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil cost

787,148

d)

Aggregated information:

· Aggregated volume

· Price

n/a

e)

Date of the transaction

19 July 2017

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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