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11 Apr 2016 07:00
8 April 2016
Servelec Group PLC
("Servelec" or the "Company")
Director Shareholding and Options granted to PDMRs
The Company announces that, today, the following Directors have been granted nil cost options over ordinary shares of 18 pence each in the Company in connection with the Servelec Long Term Incentive Plan (LTIP) and Deferred Bonus Plan (DBP):
Long Term Incentive Plan
Name of individual | Director | Type of award | Number of shares subject to award |
Alan Stubbs | Chief Executive Officer | Option | 77,922 |
Mike Cane | Chief Financial Officer | Option | 40,779 |
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 (using the financial year ending 31 December 2015 as the base year). The remaining 50% of an award will be subject to a condition that measures the Company's Total Shareholder Return (TSR) over a three year performance period.
Deferred Bonus Plan
Name of individual | Director | Type of award | Number of shares subject to award |
Alan Stubbs | Chief Executive Officer | Option | 12,987 |
Mike Cane | Chief Financial Officer | Option | 6,835 |
The DBP awards, which represent deferrals of previously awarded bonus payments, vest after a period of two years and are not subject to a performance condition.
Options Granted to PDMRs
The Company announces that on 8 April 2016 it granted options over, in aggregate, 467,500 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 share options subject to award |
Alex Moore | Managing Director, Servelec Controls - Power & Nuclear | Option | 30,000 |
Sue Hawkswell | Managing Director, Servelec Healthcare | Option | 50,000 |
Andy Sullivan | Managing Director, Servelec Technologies | Option | 50,000 |
Garry McCord | Chief Executive Officer, Servelec Corelogic | Option | 50,000 |
All such options are exercisable at an exercise price of 385p per ordinary share, being the share price as at close of business on 07 April 2015. Awards made under the ESOP are subject to the achievement of operating profit targets (using the financial year ended 31 December 2015 as the base year).
For further enquiries, please contact:
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Notes to Editors
Servelec Group plc is a UK-based technology group, with significant intellectual property, providing software, hardware and services predominantly to the UK healthcare, oil & gas, nuclear, power, water, utilities and broadcast sectors.
Servelec has two operating segments; Servelec Health & Social Care and Servelec Automation:
- Servelec Health & Social Care specialises in the design, development and implementation of Electronic Patient Record (EPR) and Patient Administration Systems (PAS) and Social Care Case Management software within secondary care and social care 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.
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