Last checked at 9 Jul 2021 07:00
9 July 2021
FireAngel Safety Technology Group plc
('FireAngel', the 'Group' or the 'Company')
Award of Options under Share Plan
PDMR shareholdings
FireAngel (AIM: FA.), one of Europe's leading developers and suppliers of home safety products, announces that on 8 July 2021 it made awards of options ("Options") over a total of 7,470,891 FireAngel Safety Technology Group plc ordinary shares of 2p each (the 'Shares') to certain directors and senior managers employed within the Group, under its Long-Term Incentive Plan ('LTIP').
Under the LTIP, awards were made to the following Persons Discharging Managerial Responsibility ('PDMRs'):
Name | Position | Status | LTIP Options award (over Shares) |
Directors | |||
John Conoley | Executive Chairman | Director and PDMR | 1,821,272 |
Zoe Fox | Chief Finance Officer | Director and PDMR | 1,311,316 |
Senior Managers | |||
Nick Rutter | Chief Product Officer | PDMR | 450,000 |
Rene Nolten | Business Unit Director | PDMR | 450,000 |
Claire Pickard | Supply Chain Director | PDMR | 450,000 |
Steve Boggis | Business Unit Director | PDMR | 450,000 |
Under the LTIP, selected employees are entitled to exercise an Option to receive a certain number of Shares at any time after a three-year vesting period ("Vesting Period"), at a cost to the employee of the nominal value of the Shares.
Vesting of the LTIP Options is dependent on performance targets, based on total shareholder return ('TSR') and Earnings per share ('EPS'). The award is split evenly across the 2 performance conditions with 50 per cent. of the total award for each performance condition.
The maximum number of Options that vest and become exercisable into Shares at the end of the Vesting Period is calculated as follows for each performance condition:
Total Shareholder Return (TSR) | % of Options that vest under the TSR performance condition (50% of total award) |
Less than 100% growth | Nil |
100% growth | 25% |
Between 100% growth and 200% growth | Between 25% and 100% on a straight-line basis |
200% growth or more | 100% |
Earnings Per Share (EPS) | % of Options that vest under the EPS performance condition (50% of total award) |
Less than 2.2 pence | Nil |
Between 2.2 pence and 3.2 pence | Between 0% and 25% on a straight-line basis |
Between 3.2 pence and 4.2 pence | Between 25% and 100% on a straight-line basis |
4.2 pence or more | 100% |
Following the Vesting Period, the Options are exercisable for 10 years, after which, any un-exercised Option will lapse.
Any entitlement under the LTIP will lapse on cessation of employment prior to the end of the three-year vesting period, unless cessation of employment is by reason of redundancy, ill health or death.
In addition to these awards, both John Conoley and Nick Rutter have irrevocably and unconditionally surrendered and cancelled 1,500,000 and 250,000 Options respectively in the capital of the Company under the FireAngel Safety Technology Group 2015 Long Term Incentive Plan, previously awarded on 2 August 2019.
Following the awards and surrenders, the total interests of each of the PDMRs referred to above in Shares is as follows:
Name | Ordinary shares held | % of ordinary shares held | Interest in shares in share schemes |
Directors | |||
John Conoley (including wife's holding) | 739,463 | 0.41% | 7,177,446 |
Zoe Fox | 52,417 | 0.03% | 1,443,260 |
Senior Managers | |||
Nick Rutter | 4,102,107 | 2.27% | 877,107 |
Rene Nolten | - | - | 575,000 |
Claire Pickard (including husband's holding) | 241,711 | 0.13% | 653,000 |
Steve Boggis | - | 450,000 | |
For further information, please contact:
FireAngel Safety Technology Group plc | 024 7771 7700 |
John Conoley, Executive Chairman | |
Zoe Fox, Chief Finance Officer
Shore Capital (Nominated adviser and Joint broker) |
020 7408 4050 |
Tom Griffiths/David Coaten
Singer Capital Markets (Joint Broker)Rick Thompson/Alex Bond
Houston (Financial PR)Kate Hoare/Laura Stewart |
020 7496 3000
020 4529 0549 |
Notes to Editors
About FireAngel Safety Technology Group plc
FireAngel's mission is to protect, save and improve our customers' lives by making innovative, leading edge technology simple and accessible. FireAngel is one of the market leaders in the European home safety products market.
FireAngel's principal products are connected smoke alarms, CO alarms, heat alarms and accessories. The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories. Products are sold under FireAngel's leading brands of FireAngel, FireAngel Pro, FireAngel Specification and AngelEye.
For further product information, please visit: www.fireangeltech.com