29 Aug 2017 07:00
Date: | 29 August 2017 |
On behalf of: | PROACTIS Holdings PLC |
Embargoed until: | 0700hrs |
PROACTIS Holdings PLC
Grant of Awards and Options
PROACTIS Holdings PLC ("PROACTIS", the "Group" or the "Company"), the specialist spend management solution provider, announces that it has granted awards ("Awards") and options ("Options") over ordinary shares of 10 pence in the capital of the Company ("Ordinary Shares") to certain Directors and persons discharging managerial responsibility ("PDMR's") of the Company (the Options and the Awards together, the "Grant"), as set out in the Company's admission document of 7 July 2017 (the "Admission Document") regarding, inter alia, the acquisition of Perfect Commerce, LLC ("Perfect Commerce").
The following Directors have been granted Awards and/or Options:
Name | Role | Total maximum number of Awards and Options granted | Maximum number of Awards and Options held after the Grant |
Hamp Wall | CEO | 369,318 | 369,318 |
Tim Sykes | CFO | 679,114 | 1,600,074 |
Sean McDonough | COO | 181,818 | 1,327,778 |
The Company has granted Awards under the PROACTIS Group Long-Term Incentive Plan 2017 over a maximum of 518,939 Ordinary Shares as follows (the "LTIP Awards"):
- 246,212 Awards were granted to Hamp Wall;
- 151,515 Awards were granted to Tim Sykes; and
- 121,212 Awards were granted to Sean McDonough.
The LTIP Awards are granted at a price of 10 pence per Ordinary Share and vest in accordance with performance targets linked to share price performance above 165 pence per Ordinary Share and earnings per share growth over the period to 30 November 2020.
In addition, the Company has granted Awards under the PROACTIS Group Executive Bonus Plan 2017 over a maximum of 259,469 Ordinary Shares as follows (the "Executive Bonus Plan Awards"):
- 123,106 Awards were granted to Hamp Wall;
- 75,757 Awards were granted to Tim Sykes; and
- 60,606 Awards were granted to Sean McDonough.
The Executive Bonus Plan Awards are granted at a price of 10 pence per Ordinary Share and vest in accordance with performance targets linked to share price performance above 165 pence per Ordinary Share and EBITDA growth over the period to 30 November 2018.
Further details on the LTIP Awards and the Executive Bonus Plan Awards are set out in Paragraph 6 of Part VII of the Admission Document.
Furthermore, the Company has granted 451,842 Options to Tim Sykes. These Options are granted at a price of 43 pence per Ordinary Share and replace those granted to Tim Sykes on 2 June 2006 and which subsequently lapsed whilst the Company was in a close period such that Mr Sykes was unable to exercise these Options. The performance targets for the lapsed Options had all been met prior to their lapsing and, therefore, these replacement Options vest immediately and unconditionally.
Following the Grant, there are a total of 4,169,838 Awards and Options outstanding, representing approximately 4.50 per cent. of the current issued share capital of the Company.
Further detail is set out in the PDMR disclosure tables below.
For further information, please contact:
PROACTIS Holdings PLC | |
Hamp Wall, Chief Executive Officer Tim Sykes, Chief Financial Officer
| Via Redleaf Communications
|
Redleaf Communications | |
Elisabeth Cowell Sam Modlin | 0207 382 4730 proactis@redleafpr.com |
finnCap Ltd Stuart Andrews / Carl Holmes - Corporate Finance | 0207 220 0500
|
Stephen Norcross / Simon Johnson - Corporate Broking |
Notes to Editors:
PROACTIS is headquartered in London with offices in the UK, North America, Mainland Europe and New Zealand. It creates, sells and maintains specialist software which enables organisations to streamline, control and monitor indirect expenditure. It is used in over 1,000 organisations around the world from the commercial, public and not-for-profit sectors.
PROACTIS floated on the AIM market of the London Stock Exchange in June 2006.
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) | Names | Hamp Wall - Chief Executive Officer Tim Sykes - Chief Financial Officer Sean McDonough - Chief Operating Officer | ||||||||||||||||
2. | Reason for the Notification | |||||||||||||||||
a) | Position/status | See 1 (a) above - PDMR's of the Company | ||||||||||||||||
b) | Initial notification/ Amendment | Initial Notification | ||||||||||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||
a) | Name | PROACTIS Holdings PLC | ||||||||||||||||
b) | LEI | 213800NXO5KK2YWNRJ19 | ||||||||||||||||
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 | Awards/Options over ordinary shares of 10 pence
| ||||||||||||||||
Identification code | GB00B13GSS58 | |||||||||||||||||
b) | Nature of the transaction | Grant of Awards/Options | ||||||||||||||||
c) | Price(s) and volume(s) | Hamp Wall Grant of Awards
Tim Sykes Grant of Awards
Grant of Options
Sean McDonough Grant of Awards
| ||||||||||||||||
d) | Aggregated information: · Aggregated volume · Price | See 4 (c) above | ||||||||||||||||
e) | Date of the transaction | 25 August 2017 | ||||||||||||||||
f) | Place of the transaction | Outside a trading venue | ||||||||||||||||