Last checked at 29 Mar 2018 07:00
FOR IMMEDIATE RELEASE 29 MARCH 2018
SANDERSON GROUP PLC
Grant of Options
Sanderson Group plc ('Sanderson' or 'the Group'), the software and IT services business specialising in digital retail technology and enterprise software for businesses operating in the manufacturing, wholesale distribution and logistics sectors, announces that Mr Ian Newcombe, Group Chief Executive Officer and Mr Richard Mogg, Group Finance Director, have been granted options to subscribe for a total of 1,750,000 new ordinary shares of 10 pence each ('Ordinary Shares') in the Group. Brief details of the options awarded are as follows:
Mr Ian Newcombe:
No. of options | Option price | Earliest exercise date | Vesting conditions |
500,000 | 25p | 01.01.2019 | Financial performance |
250,000 | 25p | 01.01.2020 | Financial performance |
500,000 | 25p | 01.01.2021 | Retention |
Mr Richard Mogg:
No. of options | Option price | Earliest exercise date | Vesting conditions |
125,000 | 25p | 01.01.2019 | Financial performance |
125,000 | 25p | 01.01.2020 | Financial performance |
250,000 | 25p | 01.01.2021 | Financial performance and retention |
None of the above share options are exercisable unless the mid-price of the Ordinary Shares, as quoted by the London Stock Exchange AIM market, is above 75 pence and the Ordinary Shares issued as a result of the exercise of any of the options cannot be sold before 1 January 2021.
Following the option grant, the above reflects the extent of options held in aggregate by Mr Mogg. Mr Newcombe holds in aggregate options over 2,258,000 ordinary shares as detailed below:
No. of options | Exercise price | Earliest exercise date | Expiry date |
300,000 | 23p | 21.05.2013 | 21.05.2020 |
118,750 | 30p | 29.06.2014 | 29.06.2018 |
200,000 | 45.75p | 27.11.2015 | 27.11.2019 |
31,250 | 30p | 29.06.2014 | 29.06.2018 |
35,000 | 27.5p | 05.04.2014 | 05.01.2021 |
200,000 | 71p | 13.12.2016 | 13.12.2023 |
123,000 | 72p | 17.01.2020 | 17.01.2024 |
500,000 | 25p | 01.01.2019 | 29.03.2028 |
250,000 | 25p | 01.01.2020 | 29.03.2028 |
500,000 | 25p | 01.01.2021 | 29.03.2028 |
1 | Details of PDMR/person closely associated with them ("PCA") | |||||||
(a) | Name | Ian Newcombe | ||||||
(b) | Position / status | Chief Executive Officer | ||||||
(c) | Initial notification / amendment | Initial notification | ||||||
2 | 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 | Options over ordinary shares of 10p each | ||||||
| Legal Entity Identifier | 213800I78F2ZHZH2T148 | ||||||
(b) | Nature of the transaction | Grant of options | ||||||
(c) | Price(s) andvolume(s) |
| ||||||
(d) | Aggregated information Aggregated volume Price | n/a | ||||||
(e) | Date of the transaction | 29 March 2018 | ||||||
(f) | Place of the transaction | Outside of a trading venue | ||||||
1 | Details of PDMR/person closely associated with them ("PCA") | |||||||
(a) | Name | Richard Mogg | ||||||
(b) | Position / status | Group Finance Director | ||||||
(c) | Initial notification / amendment | Initial notification | ||||||
2 | 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 | Options over ordinary shares of 10p each | ||||||
| Legal Entity Identifier | 213800I78F2ZHZH2T148 | ||||||
(b) | Nature of the transaction | Grant of options | ||||||
(c) | Price(s) andvolume(s) |
| ||||||
(d) | Aggregated information Aggregated volume Price | n/a | ||||||
(e) | Date of the transaction | 29 March 2018 | ||||||
(f) | Place of the transaction | Outside of a trading venue | ||||||
Sanderson Group plc | 0333 123 1400 |
Christopher Winn, Chairman |
|
Ian Newcombe, Chief Executive |
|
Richard Mogg, Finance Director |
|
|
|
Singer N+1 - Nominated Advisor and Broker | 020 7496 3000 |
Mark Taylor James White |
|
|
|
Walbrook PRPaul Vann | 0117 985 8989 or 07768 807631 |