Last checked at 2 Mar 2017 11:32
| 2 March 2017 |
Synectics plc
(the "Company" or the "Group")
Award of Options under Share Plan
Director / PDMR shareholdings
Synectics (AIM: SNX), a leader in the design, integration, control and management of advanced surveillance technology and networked security systems, announces that on 1 March 2017 it made awards over 88,500 Synectics plc ordinary shares of 20p (the "Shares") to certain senior managers employed within the Group, under its Performance Share Plan ("PSP").
Under the PSP award, awards were made to the following Directors and Persons Discharging Managerial Responsibility (PDMRs):
Name | Position | Status | PSP award (number of Shares) |
Paul Webb | Chief Executive, Synectics plc | Executive Director | 15,000 |
Mike Stilwell | Finance Director, Synectics plc | Executive Director | 7,500 |
David Aindow | Product & Technology Director, Synectic Systems Group Limited | PDMR | 5,000 |
Greg Alcorn | Divisional Director, Transport & Infrastructure, Synectic Systems Group Limited | PDMR | 10,000 |
Darren Alder | Divisional Director, Oil & Gas, Synectic Systems Group Limited | PDMR | 5,000 |
Iain Beadle | Managing Director, Quadrant Security Group Limited | PDMR | 5,000 |
Richard Brierley | Company Secretary, Synectics plc | PDMR | 2,000 |
Jeffrey Fail | Managing Director, Synectics Mobile Systems | PDMR | 4,000 |
Andrew Wycherley | Operations Director, Synectic Systems Group Limited | PDMR | 2,000 |
Following the awards, their total interests in Shares are now as follows:
Name | Shares held | Interest in Shares in Synectics share schemes | Resultant total interest | % of issued share capital |
Paul Webb | 10,000 | 299,924 | 309,924 | 1.74% |
Mike Stilwell | 6,910 | 50,224 | 57,134 | 0.32% |
David Aindow | - | 53,000 | 53,000 | 0.30% |
Greg Alcorn | - | 10,000 | 10,000 | 0.06% |
Darren Alder | - | 22,500 | 22,500 | 0.13% |
Iain Beadle | - | 52,500 | 52,500 | 0.30% |
Richard Brierley | - | 6,000 | 6,000 | 0.03% |
Jeffrey Fail | - | 44,000 | 44,000 | 0.25% |
Andrew Wycherley | - | 7,000 | 7,000 | 0.04% |
Under the PSP, selected employees are entitled to exercise an option to receive a certain number of Shares at any time after a 3 year vesting period, at no cost to themselves. The number of Shares that are awarded at the end of the 3 year period is dependent on the achievement of certain performance criteria.
Vesting of the PSP awards is dependent on the total return on Shares compared with the AIM All Share Total Return Index (the "Index"). If the total return on Shares out-performs the Index by 5% or more in the 3 years following the award, all of the Shares awarded will vest. If Shares match the Index performance, then 25% of the awarded Shares will vest. Between these points the number of Shares that vest will be pro-rata. If the total return on Shares underperforms the Index, then no Shares will vest. The limit on the number of Shares over which interests may be awarded remains unchanged.
Any entitlement under the PSP will lapse on cessation of employment prior to the end of the 3 year vesting period, unless cessation of employment is by reason of redundancy, ill health or death.
Should the performance criteria be met in full or part, it is intended that the appropriate number of Shares will be satisfied from unallocated Shares already held within the Company's employee benefit trust.
Full details of the PSP were set out in the Company's Annual Report for the year ended 30 November 2015.
For further information, please contact:
Synectics plc | Tel: +44 (0) 1527 850 080 |
Richard Brierley, Company Secretary | www.synecticsplc.com |
Stockdale Securities | Tel: +44 (0) 20 7601 6100 |
Tom Griffiths / Henry Willcocks |