Last checked at 12 Apr 2024 15:00
12 April 2024
Gamma Communications plc
Grant of options
Gamma Communications plc ("the Company") announces that on 12 April 2024 it granted the following nil cost share options over ordinary shares of 0.25 pence each in the Company pursuant to the Gamma Long Term Incentive Plan approved on 17 May 2023:
Executive Director | Number of options | Exercise price |
Andrew Belshaw | 61,436 | nil |
Bill Castell | 43,501 | nil |
PDMR | Number of options | Exercise price |
David Macfarlane | 13,559 | nil |
Daryl Pile | 13,559 | nil |
John Murphy | 10,892 | nil |
Colin Lees | 13,337 | nil |
Chris Bradford | 10,047 | nil |
Chris Wade | 10,047 | nil |
Gerben Wijbenga | 10,504 | nil |
Xavi Casajoana | 4,704 | nil |
Rachael Matzopoulos | 3,967 | nil |
The options are subject to performance conditions as detailed below having been met during the three year performance period commencing on 1 January 2024 and ending on 31 December 2026 and will vest on 12 April 2027.
For Executive Directors, the vesting of 50% of such awards (the "Relative TSR Part") is subject to the Company's total shareholder return ("TSR") performance over a three year period that commenced on 1 January 2024 relative to the TSR performance over the same period of the constituents of the FTSE 250 Index (excluding investment trusts) as at 1 January 2024. 25% of the Relative TSR Part will vest for median ranking performance, rising on a straight-line basis to full vesting of the Relative TSR Part for upper quartile ranking (or better) relative TSR performance.
For Executive Directors, the vesting of 50% of such awards (the "EPS Part") is subject to growth in the Company's adjusted earnings per share ("EPS") performance over a three year period that commenced on 1 January 2024. 25% of the EPS Part will vest for compound annual growth at 4.0% rising on a straight-line basis to full vesting of the EPS Part for compound annual growth at 14.0%.
For options awarded to other PDMRs, vesting is subject to one third based on the Relative TSR performance condition as set out above, one third based on the EPS performance condition as set out above, and one third which does not have any associated performance conditions.
The options for the Executive Directors are subject to a further two year holding period post vesting before they may be exercised.
The Company also granted 20,672 nil cost share options over ordinary shares of 0.25 pence each in the Company to Colin Lees, who joined the Company as Chief Technology Officer on 9 January 2024, pursuant to the Gamma Long Term Incentive Plan approved on 17 May 2023. These options are subject to certain performance conditions having been met during the three year performance period ending on 31 December 2025 and will vest on 22 May 2026.
Enquiries:
| |
Gamma Communications plc Andrew Belshaw, Chief Executive Officer Bill Castell, Chief Financial Officer Rachael Matzopoulos, Company Secretary
| Tel: +44 (0)333 006 5972 |
Investec Bank plc (NOMAD & Broker) Patrick Robb / Virginia Bull
| Tel: +44 (0)207 597 5970 |
Teneo (PR Adviser) James Macey White / Matt Low
| Tel: +44 (0)207 353 4200 |
Appendix
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 | Andrew Belshaw | ||||||
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 | Gamma Communications plc | ||||||
b) | LEI | 213800LAQZXPRIZUEH50 | ||||||
4
| 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
Identification code | Ordinary Shares of 0.25p each in Gamma Communications plc
Identification code (ISIN) for Gamma Communications plc ordinary shares: GB00BQS10J50 | ||||||
b) | Nature of the transaction | Award of options over Ordinary Shares of 0.25p each under the Gamma Long Term Incentive Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | As above | ||||||
e) | Date of the transaction | 12 April 2024 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Bill Castell | ||||||
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 | Gamma Communications plc | ||||||
b) | LEI | 213800LAQZXPRIZUEH50 | ||||||
4
| 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
Identification code | Ordinary Shares of 0.25p each in Gamma Communications plc
Identification code (ISIN) for Gamma Communications plc ordinary shares: GB00BQS10J50 | ||||||
b) | Nature of the transaction | Award of options over Ordinary Shares of 0.25p each under the Gamma Long Term Incentive Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | As above | ||||||
e) | Date of the transaction | 12 April 2024 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | David Macfarlane | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR | ||||||
b)
| Initial notification /Amendment | Initial notification | ||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Gamma Communications plc | ||||||
b) | LEI | 213800LAQZXPRIZUEH50 | ||||||
4
| 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
Identification code | Ordinary Shares of 0.25p each in Gamma Communications plc
Identification code (ISIN) for Gamma Communications plc ordinary shares: GB00BQS10J50 | ||||||
b) | Nature of the transaction | Award of options over Ordinary Shares of 0.25p each under the Gamma Long Term Incentive Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | As above | ||||||
e) | Date of the transaction | 12 April 2024 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Daryl Pile | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR | ||||||
b)
| Initial notification /Amendment | Initial notification | ||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Gamma Communications plc | ||||||
b) | LEI | 213800LAQZXPRIZUEH50 | ||||||
4
| 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
Identification code | Ordinary Shares of 0.25p each in Gamma Communications plc
Identification code (ISIN) for Gamma Communications plc ordinary shares: GB00BQS10J50 | ||||||
b) | Nature of the transaction | Award of options over Ordinary Shares of 0.25p each under the Gamma Long Term Incentive Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | As above | ||||||
e) | Date of the transaction | 12 April 2024 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | John Murphy | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR | ||||||
b)
| Initial notification /Amendment | Initial notification | ||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Gamma Communications plc | ||||||
b) | LEI | 213800LAQZXPRIZUEH50 | ||||||
4
| 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
Identification code | Ordinary Shares of 0.25p each in Gamma Communications plc
Identification code (ISIN) for Gamma Communications plc ordinary shares: GB00BQS10J50 | ||||||
b) | Nature of the transaction | Award of options over Ordinary Shares of 0.25p each under the Gamma Long Term Incentive Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | As above | ||||||
e) | Date of the transaction | 12 April 2024 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Colin Lees | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR | ||||||
b)
| Initial notification /Amendment | Initial notification | ||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Gamma Communications plc | ||||||
b) | LEI | 213800LAQZXPRIZUEH50 | ||||||
4
| 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
Identification code | Ordinary Shares of 0.25p each in Gamma Communications plc
Identification code (ISIN) for Gamma Communications plc ordinary shares: GB00BQS10J50 | ||||||
b) | Nature of the transaction | Award of options over Ordinary Shares of 0.25p each under the Gamma Long Term Incentive Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | As above | ||||||
e) | Date of the transaction | 12 April 2024 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Chris Bradford | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR | ||||||
b)
| Initial notification /Amendment | Initial notification | ||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Gamma Communications plc | ||||||
b) | LEI | 213800LAQZXPRIZUEH50 | ||||||
4
| 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
Identification code | Ordinary Shares of 0.25p each in Gamma Communications plc
Identification code (ISIN) for Gamma Communications plc ordinary shares: GB00BQS10J50 | ||||||
b) | Nature of the transaction | Award of options over Ordinary Shares of 0.25p each under the Gamma Long Term Incentive Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | As above | ||||||
e) | Date of the transaction | 12 April 2024 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Chris Wade | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR | ||||||
b)
| Initial notification /Amendment | Initial notification | ||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Gamma Communications plc | ||||||
b) | LEI | 213800LAQZXPRIZUEH50 | ||||||
4
| 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
Identification code | Ordinary Shares of 0.25p each in Gamma Communications plc
Identification code (ISIN) for Gamma Communications plc ordinary shares: GB00BQS10J50 | ||||||
b) | Nature of the transaction | Award of options over Ordinary Shares of 0.25p each under the Gamma Long Term Incentive Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | As above | ||||||
e) | Date of the transaction | 12 April 2024 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Gerben Wijbenga | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR | ||||||
b)
| Initial notification /Amendment | Initial notification | ||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Gamma Communications plc | ||||||
b) | LEI | 213800LAQZXPRIZUEH50 | ||||||
4
| 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
Identification code | Ordinary Shares of 0.25p each in Gamma Communications plc
Identification code (ISIN) for Gamma Communications plc ordinary shares: GB00BQS10J50 | ||||||
b) | Nature of the transaction | Award of options over Ordinary Shares of 0.25p each under the Gamma Long Term Incentive Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | As above | ||||||
e) | Date of the transaction | 12 April 2024 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Xavi Casajoana | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR | ||||||
b)
| Initial notification /Amendment | Initial notification | ||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Gamma Communications plc | ||||||
b) | LEI | 213800LAQZXPRIZUEH50 | ||||||
4
| 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
Identification code | Ordinary Shares of 0.25p each in Gamma Communications plc
Identification code (ISIN) for Gamma Communications plc ordinary shares: GB00BQS10J50 | ||||||
b) | Nature of the transaction | Award of options over Ordinary Shares of 0.25p each under the Gamma Long Term Incentive Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | As above | ||||||
e) | Date of the transaction | 12 April 2024 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Rachael Matzopoulos | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR | ||||||
b)
| Initial notification /Amendment | Initial notification | ||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Gamma Communications plc | ||||||
b) | LEI | 213800LAQZXPRIZUEH50 | ||||||
4
| 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
Identification code | Ordinary Shares of 0.25p each in Gamma Communications plc
Identification code (ISIN) for Gamma Communications plc ordinary shares: GB00BQS10J50 | ||||||
b) | Nature of the transaction | Award of options over Ordinary Shares of 0.25p each under the Gamma Long Term Incentive Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | As above | ||||||
e) | Date of the transaction | 12 April 2024 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Colin Lees | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR | ||||||
b)
| Initial notification /Amendment | Initial notification | ||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Gamma Communications plc | ||||||
b) | LEI | 213800LAQZXPRIZUEH50 | ||||||
4
| 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
Identification code | Ordinary Shares of 0.25p each in Gamma Communications plc
Identification code (ISIN) for Gamma Communications plc ordinary shares: GB00BQS10J50 | ||||||
b) | Nature of the transaction | Award of options over Ordinary Shares of 0.25p each under the Gamma Long Term Incentive Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | As above | ||||||
e) | Date of the transaction | 12 April 2024 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||