Last checked at 9 Jan 2017 10:00
9 January 2017
Tracsis plc
("Tracsis" or the "Group")
Grant of options
Tracsis announces that, following a meeting of the Group's remuneration committee on 5 January 2017, it formally granted 43,045 share options on 6 January 2017 to John McArthur, Chief Executive Officer and 28,697 to Max Cawthra, Chief Finance Officer, together the Group's Executive Directors.
The remuneration committee believes it is important to retain and motivate Executive Directors whilst at the same time setting challenging performance targets that are aligned with the Group's strategic goals and in shareholders' interests.
The options awarded have an exercise price of 0.4p and are directly linked to performance targets based on Group profitability and Total Shareholder Return relative to an AIM peer group determined by Tracsis' remuneration committee.
Full award is only exercisable should statutory diluted Earnings Per Share (EPS) for the year ending 31 July 2019 be 17.38p, and Total Shareholder Return (TSR) versus AIM peer group is in the top quartile. Where statutory diluted EPS for the year ending 31 July 2019 be less than 14.38p, and TSR versus the peer group is less than the median, no options will be exercisable. For scenarios between the above range, the options will be exercisable on a straight line sliding scale basis.
The resulting interests of John McArthur and Max Cawthra in Tracsis plc can be summarised as follows:
| Ordinary shares of 0.4p held | % of issued share capital | LTIP Options held prior to this award | LTIP Options awarded | LTIP Options after this award |
|
|
|
|
|
|
John McArthur | 1,062,783 | 3.8% | 92,727 | 43,045 | 135,772 |
Max Cawthra | 177,860 | 0.6% | 71,981 | 28,697 | 100,678 |
For more information please contact:
John McArthur/Max Cawthra, Tracsis plc | Tel: 0845 125 9162 |
Dominic Emery/Matt Lewis, Investec Bank plc | Tel: 020 7597 4000 |
Rebecca Sanders-Hewett / Sarah Fabietti-Dallison / Sam Modlin, Redleaf Communications | Tel: 0207 382 4730 Tracsis@redleafpr.com |
Notes to editors:
§ The Group specialises in solving a variety of data capture, reporting and resource optimisation problems along with the provision of a range of associated professional services.
§ Tracsis' products and services are used to increase efficiency, reduce cost and improve the operational performance and decision making capabilities for clients and customers.
§ The Company offers the following services:
- Rail Technology & Services: Software and technology led consulting, and Remote Condition Monitoring: Industry strength software that covers a variety of asset classes working alongside consulting and related professional services across the operational and strategic planning horizon, plus Technology and reporting for critical infrastructure assets in real time, to identify problems and aid with preventative maintenance.
- Traffic & Data Services: Collation, analytical services, and event management within traffic and pedestrian rich environments.
§ Tracsis has a blue chip client base which includes the majority of UK transport operators. The business also works extensively with Network Rail, the Department of Transport, multiple local authorities, Silverstone, Goodwood, and a variety of large engineering/infrastructure companies.
§ The business drives growth both organically and through acquisition and has made eight acquisitions since 2008.
§ Tracsis listed on AIM in 2007 under ticker TRCS.
§ For more information visit http://www.tracsis.com