Last checked at 30 Sep 2016 15:22
Date: Friday 30 September 2016
On behalf of: Jaywing plc ("the Company" or "the Group")
Jaywing plc
("Jaywing" or "the Company")
Grant of options
Director/PDMR Shareholding
The Company announces the following grants of options to its Executive Directors (the "New Options") under its performance share plan ("PSP"):
Director | Position | Options vested under previous scheme | Number of New Options granted | Exercise price | Total numberof optionsheld followinggrant |
Rob Shaw | CEO UK & Australia | 124,869 | 1,591,054 | 5p | 1,715,923 |
Adrian Lingard | COO | 61,000 | 1,156,303 | 5p | 1,217,303 |
Michael Sprot | CFO | - | 710,000 | 5p | 710,000 |
Martin Boddy | CEO | - | 496,000 | 5p | 496,000 |
Andy Gardner | CSO | - | 496,000 | 5p | 496,000 |
Total |
| 185,869 | 4,449,357 |
| 4,635,226 |
The grants to Rob Shaw (CEO UK & Australia) and Adrian Lingard (COO) follow their appointment to the Board of Jaywing in July 2015 and aim to provide a suitable long term incentive. The grant to Michael Sprot reflects his promotion to CFO. The New Options granted to Martin Boddy, Andy Gardner and Michael Sprot replace the options previously granted to them in March 2015 which have now been cancelled. The New Options issued to Rob Shaw and Adrian Lingard replace 566,131 and 348,000 respectively of their previous options which had not vested and have now been cancelled. Vested options not yet exercised from a previous scheme for Rob Shaw and Adrian Lingard amount to 124,869 and 61,000 respectively. The grants of New Options are designed to align incentives for all the Executive Directors to the longer term interests of shareholders.
These grants had previously been considered by the Remuneration Committee prior to the Company entering into a close period relating to the recently announced acquisitions, and are now being granted following the end of the close period.
The New Options have a number of vesting criteria designed to retain and incentivise the Executive Management team. Vesting criteria includes EBITDA growth, share price targets and ongoing commitment to the business. The New Options vest over a three year period to 31 July 2019 and are exercisable until 31 July 2020.
Following the grant of New Options the total number of options outstanding is 8,235,739 representing approximately 9.5 per cent of the Company's existing issued share capital being 86,359,385 ordinary shares.
The notification below is made in accordance with the requirements of the EU Market Abuse Regulation, and gives further detail.
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 | Martin Boddy | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Chief Executive Officer / Director and a PDMR | ||||||
b) | Initial notification/Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Jaywing 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 Identification code | Ordinary Shares of 5p each in Jaywing plc ("Shares")
ISIN: GB00B1FPT107 | ||||||
b) | Nature of the transaction | Grant of options under the Jaywing plc Performance Share Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | N/A | ||||||
e) | Date of the transaction | 30 September 2016 | ||||||
f) | Place of the transaction | London Stock Exchange | ||||||
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 | Andy Gardner | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Chief Strategy Officer / Director and a PDMR | ||||||
b) | Initial notification/Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Jaywing plc | ||||||
b) | LEI | |||||||
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 5p each in Jaywing plc ("Shares")
ISIN: GB00B1FPT107 | ||||||
b) | Nature of the transaction | Grant of options under the Jaywing plc Performance Share Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | N/A | ||||||
e) | Date of the transaction | 30 September 2016 | ||||||
f) | Place of the transaction | London Stock Exchange | ||||||
Enquiries:Jaywing plcMichael Sprot (Company Secretary) Tel: 0114 281 1200
Cenkos Securities plc
Ivonne Cantu/Callum Davidson(Nomad) Tel: 0207 397 8920