Last checked at 22 Dec 2020 10:45
Crimson Tide plc
("Crimson Tide" or "Company")
Grant of Options under the Company's EMI Scheme
Crimson Tide plc, the provider of the mpro5 mobility platform, announces a grant of options over ordinary shares in the Company ("Options") under the Company's Enterprise Management Incentive Scheme ("EMI Scheme"):
Director | Options granted under the EMI Scheme |
Luke Jeffrey (CEO) | 7,500,000 |
Peter Hurter (Finance Director & Company Secretary) | 4,600,000 |
Toby Hawkins (Sales & Marketing Director) | 4,600,000 |
A further 8,000,000 Options in aggregate have been granted to other employees bringing the total number of options now outstanding to 24,700,000 representing 5.4 percent of the Company's current issued share capital.
Today's award follows the expiry in May this year of the last tranche of options previously issued by the Company, made in May 2010. At that time, options over 35.5m shares were in issue. In making these awards and setting the performance criteria, the remuneration committee has considered the historic performance of the directors and employees during the period when no awards were made as well as having regard to the need to provide forward looking performance criteria, aligned closely to the achievement of future growth targets in line with the Board's long-term strategy.
Accordingly, the above grants may be exercised in whole or in part in accordance with the Company's EMI Share Option Plan provided the established performance criteria have been met. All options are exercisable between 3 and 10 years following the date of grant. The options become exercisable on the share price exceeding 4.5 pence per share for any five consecutive business days.
The following notification, made in accordance with the requirements of the EU Market Abuse Regulation, gives further details on the grant of Options to PDMRs.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | i) Luke Jeffrey ii) Peter Hurter iii) Toby Hawkins
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Reason for the notification | ||||||
a) | Position/status | i) Chief Executive Officer ii) Finance director & Company Secretary iii) Sales and Marketing director
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b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Crimson Tide plc | ||||
b) | LEI | 213800YUNLNBVYR3G129 | ||||
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 over ordinary shares of 0.1p each
n/a | ||||
b) | Nature of the transaction | Grant of options under EMI scheme
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c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price |
16,700,000 Nil
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e) | Date of the transaction | 22nd December 2020 | ||||
f) | Place of the transaction | Tunbridge Wells | ||||
For further information:
Crimson Tide plc
Barrie Whipp / Luke Jeffrey
01892 542 444
finnCap Ltd (Nominated Adviser and Broker)
Julian Blunt / James Thompson - Corporate Finance
Andrew Burdis - Corporate Broking
020 7220 0500
Alma PR
Josh Royston / Harriet Jackson
020 3405 0213
For further information on Crimson Tide plc, see the website at: www.crimsontide.co.uk/
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.