Last checked at 21 Sep 2017 18:06
21 September 2017
Redcentric plc ("Redcentric" or the "Company")
Issue of Options
Redcentric plc (AIM: RCN) announces that on 29 June 2017 it granted a total of 1,092,330 options to executive directors and members of the senior management team to acquire new ordinary shares of 0.1 pence each in the Company under the Company's 2017 Long Term Incentive Plan ("LTIP Options"). The LTIP Options are nil-cost options and will vest after 3 years subject to continued employment and the meeting of certain performance conditions being compound annual growth in diluted earnings per share from the financial period ending 31 March 2017 to 31 March 2020.*
The following LTIP Options were granted to Directors:
Fraser Fisher, Chief Executive Officer: 421,052 LTIP Options**
Peter Brotherton, Chief Financial Officer: 192,481 LTIP Options
As a result Fraser Fisher currently holds 1,295,985 share options in the Company and Peter Brotherton a total of 382,957 share options in the Company. In addition, Fraser Fisher has a total beneficial holding of 106,807 ordinary shares in the Company and Peter Brotherton has a total beneficial holding of 20,000 ordinary shares in the Company.
* 40% of awards vest at 4% compound EPS growth and 100% vest at 10% compound EPS growth (vesting will be on a straight line basis between these levels).
** The 421,052 LTIP Options were granted prior to the announcement by the Company on 10 August 2017 that Fraser Fisher had given notice of his resignation as CEO. The 421,052 LTIP Options will lapse upon Fraser Fisher leaving the business.
The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provides 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 | Fraser Fisher | |
2 | Reason for the notification | ||
a) | Position/status | Chief Executive Officer | |
b) | Initial notification /Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Redcentric plc | |
b) | Legal Entity Identifier | 213800FGYMMNE9OKFD14 | |
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 to acquire new ordinary shares of 0.1p each
GB00B7TW1V39
| |
b) | Nature of the transaction | Grant of options | |
c) | Currency | GBP | |
d) | Price(s) and volume(s) | Price(s) | Volume(s) |
0.83125p | 421,052 | ||
| |||
e) | Aggregated information - Aggregated volume - Price - Aggregated total | N/A - single transaction
| |
f) | Date of the transaction | 29 June 2017 | |
g) | Place of the transaction | Outside of a trading venue | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Peter Brotherton | |
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 | Redcentric plc | |
b) | Legal Entity Identifier | 213800FGYMMNE9OKFD14 | |
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 to acquire new ordinary shares of 0.1p each
GB00B7TW1V39
| |
b) | Nature of the transaction | Grant of options | |
c) | Currency | GBP | |
d) | Price(s) and volume(s) | Price(s) | Volume(s) |
0.83125p | 192,481 | ||
| |||
e) | Aggregated information - Aggregated volume - Price - Aggregated total | N/A - single transaction
| |
f) | Date of the transaction | 29 June 2017 | |
g) | Place of the transaction | Outside of a trading venue | |