Last checked at 12 Apr 2018 15:56
Maintel Holdings Plc ("Maintel" or "the Company")
Grant of Options
The Company announces that on 12 April 2018 options were granted over ordinary shares of 1 pence each in Maintel ("Ordinary Shares") to certain Directors, persons discharging managerial responsibilities ("PDMRs") and other employees, in accordance with the rules of the Company's 2015 Long-Term Incentive Plan ("LTIP"), with certain options being granted under the Company share option plan ("LTIP CSOP").
The table below sets out all grants made under the LTIP and LTIP CSOP to Directors and PDMRs:
Director/PDMR | Scheme | Number of options over Ordinary Shares | Exercise Price £ | Total number of options over Ordinary Shares | ||||||
Rufus Grig | LTIP | 2,000 | 0.01 | 12,000 | ||||||
Rufus Grig | LTIP CSOP | 2,000 | 6.75 | 12,000 | ||||||
Stuart Legg | LTIP | 10,000 | 0.01 | 63,409 | ||||||
Kevin Stevens | LTIP | 5,000 | 0.01 | 38,409 | ||||||
| LTIP | 10,000 | 0.01 | 43,409 |
LTIP
In addition to the LTIP grants set out in the above table, an option over a further 2,000 Ordinary Shares was granted to a senior employee, with an exercise price of 1 pence.
The Nominal Cost LTIP options are subject to certain challenging performance conditions (the "Performance Conditions") and will vest on 12 April 2021 (being the 3rd anniversary of the award date) if the Performance Conditions are met (the "Vesting Date"). The options expire on 12 April 2028.
The Performance Conditions in each case are (i) 10% compound adjusted EPS growth from a base of the FY 2017 adjusted EPS, (ii)15% compound share price growth from a base of Q1 2018 average share price and an additional condition applies to Stuart Legg, being the achievement of his annual sales targets. If the Performance Conditions are not fully satisfied at the end of the Vesting Date, then the options will vest proportionately against the achievement of certain threshold criteria (being 5% adjusted EPS growth, 7% share price growth and 80% of sales targets); any portion that has not vested as a consequence of the Performance Conditions not being satisfied in full or on a threshold basis will lapse.
LTIP CSOP
In addition to the LTIP CSOP grant set out in the above table, the Company has granted options over a further 18,000 Ordinary Shares to 9 employees of the Company, all at an exercise price of 675 pence.
In aggregate, options are outstanding over 434,272 Ordinary Shares, being 3.1% of the Company's current issued share capital. The number of shares under option, the Performance Conditions and exercise prices may be adjusted at the discretion of the Remuneration Committee in the event of a variation in the issued share capital of the Company.
Further information will be included in the Company's annual report and accounts for the financial period ending 31 December 2018.
The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.
12 April 2018
Enquiries:
Maintel Holdings Plc
Dale Todd - Company Secretary 020 7401 0562
finnCap Ltd
Jonny Franklin-Adams / Emily Watts 020 7220 0500
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: | Rufus Grig | ||||
2. | Reason for the notification | |||||
a) | Position/status: | Group Strategy Director | ||||
b) | Initial notification/Amendment: | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name: | Maintel Holdings Plc | ||||
b) | LEI: | 2138008TDMNV6ODDI497 | ||||
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 1p each GB00B046YG73 | ||||
b) | Nature of the transaction: | Grant of options over ordinary shares under the Company's 2015 Long-Term Incentive Plan | ||||
c) | Price(s) and volume(s): |
| ||||
d) | Aggregated information: · Aggregated volume: · Price: | Single transaction as in 4 c) above
| ||||
e) | Date of the transaction: | 12 April 2018 | ||||
f) | Place of the transaction: | Off market transaction | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Stuart Legg | ||||
2. | Reason for the notification | |||||
a) | Position/status: | Group Sales and Marketing Director | ||||
b) | Initial notification/Amendment: | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name: | Maintel Holdings Plc | ||||
b) | LEI: | 2138008TDMNV6ODDI497 | ||||
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 1p each GB00B046YG73 | ||||
b) | Nature of the transaction: | Grant of options over ordinary shares under the Company's 2015 Long-Term Incentive Plan | ||||
c) | Price(s) and volume(s): |
| ||||
d) | Aggregated information: · Aggregated volume: · Price: | Single transaction as in 4 c) above
| ||||
e) | Date of the transaction: | 12 April 2018 | ||||
f) | Place of the transaction: | Off market transaction | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Kevin Stevens | ||||
2. | Reason for the notification | |||||
a) | Position/status: | Group Integration and Transformation Director | ||||
b) | Initial notification/Amendment: | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name: | Maintel Holdings Plc | ||||
b) | LEI: | 2138008TDMNV6ODDI497 | ||||
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 1p each GB00B046YG73 | ||||
b) | Nature of the transaction: | Grant of options over ordinary shares under the Company's 2015 Long-Term Incentive Plan | ||||
c) | Price(s) and volume(s): |
| ||||
d) | Aggregated information: · Aggregated volume: · Price: | Single transaction as in 4 c) above
| ||||
e) | Date of the transaction: | 12 April 2018 | ||||
f) | Place of the transaction: | Off market transaction | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Mark Townsend | ||||
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: | Maintel Holdings Plc | ||||
b) | LEI: | 2138008TDMNV6ODDI497 | ||||
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 1p each GB00B046YG73 | ||||
b) | Nature of the transaction: | Grant of options over ordinary shares under the Company's 2015 Long-Term Incentive Plan | ||||
c) | Price(s) and volume(s): |
| ||||
d) | Aggregated information: · Aggregated volume: · Price: | Single transaction as in 4 c) above
| ||||
e) | Date of the transaction: | 12 April 2018 | ||||
f) | Place of the transaction: | Off market transaction | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Rufus Grig | ||||
2. | Reason for the notification | |||||
a) | Position/status: | Group Strategy Director | ||||
b) | Initial notification/Amendment: | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name: | Maintel Holdings Plc | ||||
b) | LEI: | 2138008TDMNV6ODDI497 | ||||
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 1p each GB00B046YG73 | ||||
b) | Nature of the transaction: | Grant of options over ordinary shares under the Company's 2015 Long-Term Incentive Plan | ||||
c) | Price(s) and volume(s): |
| ||||
d) | Aggregated information: · Aggregated volume: · Price: | Single transaction as in 4 c) above
| ||||
e) | Date of the transaction: | 12 April 2018 | ||||
f) | Place of the transaction: | Off market transaction | ||||