11 Sep 2018 07:00
Castleton Technology PLC
("Castleton", the "Company" or the "Group")
Grant of Options under SAYE Scheme
Castleton Technology PLC, the software and managed services provider to the public and not-for-profit sectors, is pleased to announce that it has launched a Save As You Earn ("SAYE") share scheme for all its permanent employees.
Eligible employees were invited to subscribe for options ("Options") over the Company's ordinary shares of 2 pence each ("Ordinary Shares") at an exercise price of 82.8 pence per Ordinary Share, representing a 20% discount to the closing middle market price of an Ordinary Share on 17 August 2018 ("Options"), the dealing day before the invitation to participate was made. The Options have a contract start date of 1 October 2018 and are exercisable from 1 October 2021.
A total of 60 employees out of 134 elected to participate, and pursuant to these elections a total of 306,610 Options have been granted, representing 0.4% of the Company's current issued share capital.
Dean Dickinson (CEO) and Haywood Chapman (CFO) have elected to participate in the SAYE scheme and are included in the total figures above. Their individual Option grants pursuant to the SAYE scheme are as follows:
Dean Dickinson: | 8,695 Options |
Haywood Chapman | 8,695 Options |
As a result of these Option grants, the above individuals have the following direct interests in Ordinary Shares:
Director | Ordinary Shares held | Number of Options granted | Total number of options over Ordinary Shares | Total interest in Ordinary Shares as a percentage of current issued share capital |
Dean Dickinson | 185,000 | 8,695 | 1,582,991 (note 1) | 1.9% |
Haywood Chapman | 1,000 | 8,695 | 8,695 (note 2) | 0.0% |
Note 1 - In addition to the options above, Dean Dickinson holds options over 1.4% of the total value of the Company above a base value calculated using a share price of 60p. The 1.4% proportion is calculated by reference to the issued share capital of the company as at 21 February 2018. The options are held by way of a combination of EMI Options and Growth Shares.
Note 2 - In addition to the options above, Haywood Chapman holds options over 2.0% of the total value of the Company above a base value calculated using a share price of 22p and less the value of 271,000 options exercised on 29 August 2018. The 2.0% proportion is calculated by reference to the issued share capital of the company as at 21 February 2018. The options are held by way of a combination of EMI Options, Unapproved Options and Growth Shares.
The notifications at the end of the announcement, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail of the Options granted.
Castleton Technology plc Dean Dickinson, Chief Executive Officer Haywood Chapman, Chief Financial Officer | Tel. +44 (0)845 241 0220
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finnCap Ltd Jonny Franklin-Adams / Simon Hicks (Corporate Finance) Andrew Burdis (ECM) | Tel. +44 (0)20 7220 0500
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MXC Capital Markets LLP Charlotte Stranner | Tel. +44(0)20 7965 1849
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Alma PRRebecca Sanders-Hewett / Helena Bogle | 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 Group is a 'one stop shop', providing integrated housing systems via the Cloud, working 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.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Dean Dickinson | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Chief Executive Officer | ||||
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 | Options over ordinary shares of 2 pence each ("Options") | ||||
Identification code | n/a | |||||
b) | Nature of the transaction | Grant of Options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price | n/a | ||||
e) | Date of the transaction | 1 October 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Haywood Chapman | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Chief Financial Officer | ||||
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 | Options over ordinary shares of 2 pence each ("Options") | ||||
Identification code | n/a | |||||
b) | Nature of the transaction | Grant of Options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price | n/a | ||||
e) | Date of the transaction | 1 October 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||