16 Mar 2017 08:53
IndigoVision Group plc
("IndigioVision", the "Company" or the "Group")
Grant of Options
IndigoVision Group plc announces that, on 15 March 2017, options over ordinary shares of 1p each ("Ordinary Shares") were granted to Directors and PDMRs of the Company (the "Options"); certain of which being nil-paid options under the terms of the Company's existing Long-Term Incentive Plan ("LTIP") and certain of which being the subject of standalone option agreements and exercisable at the nominal value of Ordinary Shares.
Vesting of the Options granted to Directors of the Company are conditional on a combination of total shareholder return ("TSR") and earnings per share ("EPS") performance (total Options to Directors being split equally between TSR and EPS performance conditions) (the "Director Vesting Conditions"). Vesting of the Options granted to PDMRs is conditional on percentage growth in regional sales contribution (the "PDMR Vesting Conditions"). The Director Vesting Conditions and PDMR Vesting Conditions are measured over a period of three consecutive years, with Options being exercisable from the third anniversary of the date of grant.
Options granted under the LTIP were as follows:
Name | Role | Number of Options being granted | Vesting conditions |
Directors | |||
Marcus Kneen | Chief Executive Officer | 109,500 | Director Vesting Conditions |
Chris Lea | Chief Financial Officer | 80,500 | Director Vesting Conditions |
Paul Theasby | Chief Operating Officer | 30,000 | Director Vesting Conditions |
PDMR | |||
Dean Brazenall | Region Sales Director (EMEA North) | 30,000 | PDMR Vesting Conditions |
Options granted pursuant to standalone agreements were as follows:
Name | Role | Number of Options being granted | Vesting conditions |
PDMR | |||
Fabien Haubert | Region Sales Director (EMEA South) | 30,000 | PDMR Vesting Conditions |
Jose Lopez Martin | Region Sales Director (Americas) | 30,000 | PDMR Vesting Conditions |
Lim Then Poh | Region Sales Director (APAC) | 20,000 | PDMR Vesting Conditions |
Under the terms of the Director Vesting Conditions, Options vest upon the achievement of average annual compound growth rate ("CAGR") in TSR or EPS (being split equally). Of those Options being subject to TSR performance, 25 per cent. vest upon the achievement of CAGR of 15 per cent. and vest on a straight-line basis thereafter, with all Options vesting upon the achievement of 25 per cent. CAGR in TSR. Of those Options being subject to EPS performance, 25 per cent. vest upon the achievement of CAGR of 40 per cent. and vest on a straight line basis, with all Options vesting upon the achievement of 75 per cent. CAGR in EPS.
Under the terms of the PDMR Vesting Conditions, Options are exercisable subject to percentage growth in regional sales contribution, with 25 per cent. vesting upon the achievement of the minimum CAGR target and vesting on a straight-line basis thereafter.
For further information:
IndigoVision Group plc | |
Marcus Kneen Chris Lea | +44 (0)131 475 7200
|
N+1 Singer | |
Sandy Fraser | +44 (0)131 603 6873 |
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||
a) | Name | Marcus Kneen | |
2 | Reason for the notification | ||
a) | Position/status | Chief Executive Officer | |
b) | Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | IndigoVision Group plc | |
b) | LEI | 213800UTDZWYBP2YR191 | |
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
| Options over ordinary shares of 1 pence each
GB0032654534
| |
b) | Nature of the transaction | Grant of options over ordinary shares | |
c)
| Price(s) and volume(s)
| Price | Volume |
Nil | 109,500 | ||
d)
| Aggregated information
- Aggregated volume
- Price
| N/A | |
e) | Date of the transaction | 15 March 2017 | |
f) | Place of the transaction | Off-market transaction | |
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||
a) | Name | Chris Lea | |
2 | Reason for the notification | ||
a) | Position/status | Chief Financial Officer | |
b) | Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | IndigoVision Group plc | |
b) | LEI | 213800UTDZWYBP2YR191 | |
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
| Options over ordinary shares of 1 pence each
GB0032654534
| |
b) | Nature of the transaction | Grant of options over ordinary shares | |
c)
| Price(s) and volume(s)
| Price | Volume |
Nil | 80,500 | ||
d)
| Aggregated information
- Aggregated volume
- Price
| N/A | |
e) | Date of the transaction | 15 March 2017 | |
f) | Place of the transaction | Off-market transaction | |
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||
a) | Name | Paul Theasby | |
2 | Reason for the notification | ||
a) | Position/status | Chief Operating Officer | |
b) | Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | IndigoVision Group plc | |
b) | LEI | 213800UTDZWYBP2YR191 | |
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
| Options over ordinary shares of 1 pence each
GB0032654534
| |
b) | Nature of the transaction | Grant of options over ordinary shares | |
c)
| Price(s) and volume(s)
| Price | Volume |
Nil | 30,000 | ||
d)
| Aggregated information
- Aggregated volume
- Price
| N/A | |
e) | Date of the transaction | 15 March 2017 | |
f) | Place of the transaction | Off-market transaction | |
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||
a) | Name | Dean Brazenall | |
2 | Reason for the notification | ||
a) | Position/status | Region Sales Director (EMEA North) - PDMR | |
b) | Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | IndigoVision Group plc | |
b) | LEI | 213800UTDZWYBP2YR191 | |
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
| Options over ordinary shares of 1 pence each
GB0032654534
| |
b) | Nature of the transaction | Grant of options over ordinary shares | |
c)
| Price(s) and volume(s)
| Price | Volume |
Nil | 30,000 | ||
d)
| Aggregated information
- Aggregated volume
- Price
| N/A | |
e) | Date of the transaction | 15 March 2017 | |
f) | Place of the transaction | Off-market transaction | |
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||
a) | Name | Fabien Haubert | |
2 | Reason for the notification | ||
a) | Position/status | Region Sales Director (EMEA South) - PDMR | |
b) | Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | IndigoVision Group plc | |
b) | LEI | 213800UTDZWYBP2YR191 | |
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
| Options over ordinary shares of 1 pence each
GB0032654534
| |
b) | Nature of the transaction | Grant of options over ordinary shares | |
c)
| Price(s) and volume(s)
| Price | Volume |
Nil | 30,000 | ||
d)
| Aggregated information
- Aggregated volume
- Price
| N/A | |
e) | Date of the transaction | 15 March 2017 | |
f) | Place of the transaction | Off-market transaction | |
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||
a) | Name | Jose Lopez Martin | |
2 | Reason for the notification | ||
a) | Position/status | Region Sales Director (Americas) - PDMR | |
b) | Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | IndigoVision Group plc | |
b) | LEI | 213800UTDZWYBP2YR191 | |
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
| Options over ordinary shares of 1 pence each
GB0032654534
| |
b) | Nature of the transaction | Grant of options over ordinary shares | |
c)
| Price(s) and volume(s)
| Price | Volume |
Nil | 30,000 | ||
d)
| Aggregated information
- Aggregated volume
- Price
| N/A | |
e) | Date of the transaction | 15 March 2017 | |
f) | Place of the transaction | Off-market transaction | |
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||
a) | Name | Lim Then Poh | |
2 | Reason for the notification | ||
a) | Position/status | Region Sales Director (APAC) - PDMR | |
b) | Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | IndigoVision Group plc | |
b) | LEI | 213800UTDZWYBP2YR191 | |
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
| Options over ordinary shares of 1 pence each
GB0032654534
| |
b) | Nature of the transaction | Grant of options over ordinary shares | |
c)
| Price(s) and volume(s)
| Price | Volume |
Nil | 20,000 | ||
d)
| Aggregated information
- Aggregated volume
- Price
| N/A | |
e) | Date of the transaction | 15 March 2017 | |
f) | Place of the transaction | Off-market transaction | |