Sign In
18 Apr 2017 15:59
18 April 2017
Servelec Group PLC
("Servelec" or the "Group")
Director Shareholding and Share Options Granted to PDMRs
The Group announces that, today, the following Directors have been granted nil cost options over ordinary shares of 18 pence each in the Group in connection with the Servelec Long Term Incentive Plan (LTIP).
Long Term Incentive Plan
Name of Individual | Director | Type of award | Number of shares subject to award |
Alan Stubbs | Chief Executive Officer | Option | 174,420 |
Mike Cane | Chief Financial Officer | Option | 91,280 |
The vesting of all the LTIP awards is subject to the achievement of performance targets.
The vesting of 50% of an award will be subject to a condition that measures growth in Earnings per Share (EPS) of the Company above inflation over a three year performance period ending 31 December 2019 (using the financial year ending 31 December 2016 as the base year). The remaining 50% of an award will be subject to a condition that measures the Group's Total Shareholder Return (TSR) over a three year performance period.
Options Granted to PDMRs
The Group announces that on 18 April 2017 it granted options over, in aggregate, 655,000 ordinary shares to senior management, subject to the terms of the Servelec Executive Share Option Plan (ESOP).
Options issued to Persons Discharging Managerial Responsibility are noted below:
Name of Individual | Position Held | Type of award | Number of shares subject to award |
Alex Moore | Managing Director, Servelec Controls - Power and Infrastructure | Option | 40,000 |
Garry McCord | Chief Technical Officer - Servelec HSC | Option | 40,000 |
Andrew Mills | Managing Director, Servelec Controls - Oil and Gas | Option | 40,000 |
All such options are exercisable at an exercise price of 258p per ordinary share, being the share price as at close of business on 13 April 2017. Awards made under the ESOP are subject to the achievement of operating profit targets (using the financial year ended 31 December 2016 as the base year).
The market price at date of grant, which equates to the closing middle market price of an Ordinary Share as at the close of business on 18 April 2017, is 258p. Subject to the achievement of performance conditions as indicated above, the options can be exercised at any time from 18 April 2020 to 18 April 2027.
For further enquiries, please contact:
Servelec Group plc Alan Stubbs, Chief Executive Officer Mike Cane, Chief Financial OfficerPamela Weeks, Head of Corporate Communications and PR
| +44 (0) 1246 437 400 |
Investec Bank plc Patrick Robb/Dominic Emery/Sebastian Lawrence/Matt Lewis
| +44 (0) 207 597 5097 |
Tulchan Group James Macey-White/Matt Low
| +44 (0) 20 7353 4200 |
Notes to Editors:
Servelec Group plc is a UK-headquartered technology group, with significant intellectual property, providing software, hardware and services predominantly to the UK health and social care, oil & gas, nuclear, power, water, utilities and broadcast sectors.
Servelec has two operating divisions; Servelec HSC and Servelec Automation:
- Servelec HSC specialises in the design, development and implementation of Electronic Patient Record (EPR) and Patient Administration Systems (PAS), Social Care Case Management software and early Years education software within secondary care and social care and education in local government settings and is a market leader in the Mental Health, Community Health and Social Care sectors in England.
- Servelec Automation provides complex, mission-critical control systems to large blue-chip companies mainly in the UK, focusing on the oil & gas, nuclear, power, water, utilities and broadcast industries. Servelec Automation also provides services from consultancy through to design, implementation, delivery, installation and on-going customer support and maintenance.
Follow the stocks
