1 Sep 2017 15:06
Ideagen PLC
("Ideagen," "the Company" or the "Group'')
Issue of shares under a Share Incentive Plan and Total Voting Rights
Ideagen PLC (AIM: IDEA), a leading supplier of Information Management Software to highly regulated industries, announces that it has established a Share Incentive Plan ("SIP") for all eligible employees which complies with HMRC requirements.
Under the terms of the SIP, the Company makes an annual award of new ordinary shares of 1 penny each in the capital of the Company ("Ordinary Shares") to all employees subject to the achievement of a profit target set by the Board for a particular year. The profit target was achieved in respect of the year ended 30 April 2017 and the Company has agreed to award new Ordinary Shares to the value of £2,000 to all eligible employees based on the closing mid-market price on 31 August 2017 (the "Award"). In order to obtain the full tax benefits of the SIP, members of staff will need to remain as employees of the Group for 5 years from the date of the share award.
Accordingly the Company has allotted 550,639 Ordinary Shares to be held in trust for the benefit of employees.
Application has been made to the London Stock Exchange for the 550,639 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective and trading will commence at 8.00 a.m. on 7 September 2017.
After Admission, the total number of Ordinary Shares in issue will be 198,751,414 and the total number of voting rights will therefore be 198,751,414. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
As part of the Award, 2,197 new Ordinary Shares were allotted to each of the executive directors of the Company; David Hornsby, Graeme Spenceley, Barney Kent and Ben Dorks, who now have the following interests in the share capital of the company.
Executive Director | Previous shareholding | New shareholding | % of issued share capital held |
David Hornsby | 8,644,533 | 8,646,730 | 4.35% |
Graeme Spenceley | 622,720 | 624,917 | 0.31% |
Barney Kent | 1,772,660 | 1,774,857 | 0.89% |
Ben Dorks | 1,495,000 | 1,497,197 | 0.75% |
As part of the SIP arrangements, employees will also be able to subscribe for additional new Ordinary Shares ("Partnership Shares") either on a monthly or lump sum basis at the prevailing market price up to a maximum of £1,800 per year. These shares will also attract tax benefits if held for the appropriate period. Each of the executive directors of Ideagen, David Hornsby, Graeme Spenceley, Barney Kent and Ben Dorks intend to purchase £1,800 of Partnership Shares through the September 2017 payroll at the prevailing market price at that time and their updated interests in the shares of the Company will be notified once these transactions have been completed.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
Enquiries:
Ideagen plc | 01629 699100 |
David Hornsby, Chief Executive |
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Graeme Spenceley, Finance Director |
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finnCap Limited | 020 7220 0500 |
Stuart Andrews/Henrik Persson/James Thompson (Nomad) |
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Stephen Norcross (Corporate Broking) |
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About Ideagen plc
Ideagen is a UK company quoted on the London Stock Exchange AIM market (Ticker: IDEA.L).
Ideagen is a supplier of Information Management software with operations in the UK, the United States and the Middle East. The Company specialises in GRC (Governance, Risk and Compliance) and Content and Clinical solutions with a primary focus on organisations operating within highly regulated industries. With an excellent portfolio of software products, Ideagen is able to provide complete information lifecycle solutions that enable organisations to reduce risk, meet their regulatory and compliance standards, helping them to reduce costs and improve efficiency.
The Group has a customer base of over 3,000 organisations using the Ideagen suite of products, including many blue chip names such as BAE Systems, Emirates, Shell and the European Central Bank as well as 150 hospitals in the UK and US.
For further information please visit www.ideagen.com
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 | David Hornsby | ||||
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 | Ideagen plc | ||||
b) | LEI | n/a | ||||
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 | Ordinary Shares of 1p each | ||||
Identification code | GB00B0CM0C50 | |||||
b) | Nature of the transaction | Award of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information: · Aggregated volume · Price |
2,197 ordinary shares of 1p each awarded at 91p per share | ||||
e) | Date of the transaction | 1 September 2017 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Graeme Spenceley | ||||
2. | Reason for the Notification | |||||
a) | Position/status | CFO | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Ideagen plc | ||||
b) | LEI | n/a | ||||
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 | Ordinary Shares of 1p each | ||||
Identification code | GB00B0CM0C50 | |||||
b) | Nature of the transaction | Award of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price |
2,197 ordinary shares of 1p each awarded at 91p per share | ||||
e) | Date of the transaction | 1 September 2017 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Ben Dorks | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Chief Customer Officer | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Ideagen plc | ||||
b) | LEI | n/a | ||||
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 | Ordinary Shares of 1p each | ||||
Identification code | GB00B0CM0C50 | |||||
b) | Nature of the transaction | Award of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price |
2,197 ordinary shares of 1p each awarded at 91p per share | ||||
e) | Date of the transaction | 1 September 2017 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Barnaby Kent | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Chief Operating Officer | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Ideagen plc | ||||
b) | LEI | n/a | ||||
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 | Ordinary Shares of 1p each | ||||
Identification code | GB00B0CM0C50 | |||||
b) | Nature of the transaction | Award of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price |
2,197 ordinary shares of 1p each awarded at 91p per share | ||||
e) | Date of the transaction | 1 September 2017 | ||||
f) | Place of the transaction | Outside a trading venue | ||||