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1 Dec 2021 12:30
1 December 2021
NANOCO GROUP PLC
("Nanoco", the "Group" or the "Company")
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY
As set out in the Company's 2021 Annual Report, the Board was seeking shareholder approval for a resolution at the AGM on 30 November 2021 to amend the remuneration policy and the Nanoco Group 2015 Long Term Incentive Plan (the "LTIP") to issue nil-cost options over ordinary shares of 10 pence each in the Company to executive directors with a value up to 150% of salary. The previous policy was a maximum of 100% of salary (with up to 250% of salary in exceptional circumstances).
The relevant resolutions were approved by shareholders at the AGM on 30 November 2021 with 99.0% and 98.9% of votes cast in favour respectively. Subject to and following this approval, Nanoco has now granted to the Executive Directors nil options to the value of 50% of salary, in addition to those issued on 9 November 2021, as noted below:
Name of Director / PDMR | Number of options granted |
Brian Tenner (CEO - Director) | 592,417 |
Nigel Pickett (CTO - Director) | 463,744 |
Liam Gray (CFO - Director) | 266,588 |
Total number of options granted | 1,322,749 |
The number of options awarded has been calculated in accordance with the scheme rules by reference to the average closing mid-market share price for the three days after the announcement of the Group's results for the year ending 31 July 2021. This was 21.1 pence.
The vesting of the LTIP options is subject to the achievement of performance conditions based upon the growth in the Company's share price over the three year performance period ending 31 July 2024. The equivalent compound annual growth rate ('CAGR') is shown for information purposes and is based on the average of the closing mid-market price of the Company's shares for the three days after the Group's annual results for the year ending 31 July 2021 (announced on 3 November 2021).
Range | Share price (equivalent CAGR (%)) | Proportion of award that will vest |
Below threshold | Less than 35 pence ( | Nil |
Threshold | 35 pence (28.8%) | 25% |
Target | 45 pence (46.0%) | 60% |
Maximum | 55 pence (61.4%) | 100% |
Ordinarily, the LTIP options will vest (subject to the achievement of the performance conditions) following the announcement of Nanoco's results for its financial year ending 31 July 2024. The options are then subject to an additional two year holding period. This notification is made pursuant to Disclosure and Transparency Rule 3.1.4.
For further information please contact:
Liam GrayCompany SecretaryTelephone : +44 (0) 161 603 7900
Notes for editors:
About Nanoco Group plc
Nanoco (LSE: NANO) harnesses the power of nano-materials. Nano-materials are materials with dimensions typically in the range 1 - 100 nm. Nano-materials have a range of useful properties, including optical and electronic. Quantum dots are a subclass of nano-material that have size-dependent optical and electronic properties. The Group produces quantum dots. Within the sphere of quantum dots, the Group exploits different characteristics of the quantum dots to target different performance criteria that are attractive to specific markets or end-user applications such as the Display and Electronics markets. One of the interesting properties of quantum dots is photoluminescence: the emission of longer wavelength light upon excitation by light of a shorter wavelength. The colour of light emitted depends on the particle size. Nanoco's CFQD® quantum dots are free of cadmium and other toxic heavy metals and can be tuned to emit light at different wavelengths across the visible and infrared spectrum, rendering them useful for a wide range of applications including displays, lighting and biological imaging.
Nanoco was founded in 2001 and is headquartered in Manchester, UK, with a US subsidiary, Nanoco Inc., in Concord, MA. Nanoco continues to build out a world-class, patent-protected IP portfolio generated both by its own innovation engine, as well as through acquisition.
Nanoco is listed on the Main Market of the London Stock Exchange and trades under the ticker symbol NANO. For further information please visit: www.nanocotechnologies.com.
Notification of Dealing Form
1. | Details of the Person Discharging Managerial Responsibilities ("PDMR") / person closely associated with them ("PCA") | |||||
a) | Name | BRIAN TENNER | ||||
2. | Reason for the notification | |||||
a) | Position /status | CHIEF EXECUTIVE OFFICER | ||||
b) | Initial notification / amendment | INITIAL NOTIFICATION | ||||
3. | Details of the Issuer | |||||
a) | Name | NANOCO GROUP PLC | ||||
b) | LEI code | 213800HOSJEZO1KOCV33 | ||||
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) | Type of instrumentIdentification code | ORDINARY SHARES OF 1O PENCE EACH | ||||
ISIN: GB00B01JLR99 | ||||||
b) | Nature of the transaction | GRANT OF AN OPTION OVER ORDINARY SHARES UNDER THE NANOCO 2015 LONG TERM INCENTIVE PLAN | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information:- Aggregated volume- Price | N/A | ||||
e) | Date of the transaction | 1 DECEMBER 2021 | ||||
f) | Place of the transaction | OUTSIDE A TRADING VENUE | ||||
Notification of Dealing Form
1. | Details of the Person Discharging Managerial Responsibilities ("PDMR") / person closely associated with them ("PCA") | |||||
a) | Name | DR NIGEL PICKETT | ||||
2. | Reason for the notification | |||||
a) | Position /status | CHIEF TECHNICAL OFFICER | ||||
b) | Initial notification / amendment | INITIAL NOTIFICATION | ||||
3. | Details of the Issuer | |||||
a) | Name | NANOCO GROUP PLC | ||||
b) | LEI code | 213800HOSJEZO1KOCV33 | ||||
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) | Type of instrumentIdentification code | ORDINARY SHARES OF 1O PENCE EACH | ||||
ISIN: GB00B01JLR99 | ||||||
b) | Nature of the transaction | GRANT OF AN OPTION OVER ORDINARY SHARES UNDER THE NANOCO 2015 LONG TERM INCENTIVE PLAN | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information:- Aggregated volume- Price | N/A | ||||
e) | Date of the transaction | 1 DECEMBER 2021 | ||||
f) | Place of the transaction | OUTSIDE A TRADING VENUE | ||||
Notification of Dealing Form
1. | Details of the Person Discharging Managerial Responsibilities ("PDMR") / person closely associated with them ("PCA") | |||||
a) | Name | LIAM GRAY | ||||
2. | Reason for the notification | |||||
a) | Position /status | CHIEF FINANCIAL OFFICER | ||||
b) | Initial notification / amendment | INITIAL NOTIFICATION | ||||
3. | Details of the Issuer | |||||
a) | Name | NANOCO GROUP PLC | ||||
b) | LEI code | 213800HOSJEZO1KOCV33 | ||||
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) | Type of instrumentIdentification code | ORDINARY SHARES OF 1O PENCE EACH | ||||
ISIN: GB00B01JLR99 | ||||||
b) | Nature of the transaction | GRANT OF AN OPTION OVER ORDINARY SHARES UNDER THE NANOCO 2015 LONG TERM INCENTIVE PLAN | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information:- Aggregated volume- Price | N/A | ||||
e) | Date of the transaction | 1 DECEMBER 2021 | ||||
f) | Place of the transaction | OUTSIDE A TRADING VENUE | ||||
= END =
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