20 Jul 2017 07:00
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:
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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) |
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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) |
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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 | ||||