Tracsis Regulatory News (TRCS)

Tracsis plc

("Tracsis" or the "Group")

Grant of options

Tracsis announces that, following a meeting of the Group's remuneration committee on 14 December 2015, it formally granted 92,727 share options on 15 December 2015 to John McArthur, Chief Executive Officer and 61,819 share options 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 remuneration committee had sought to implement a formalised LTIP scheme for the Executive Directors for some time, but had been unable to do so due to close period restrictions imposed by various corporate activities (primarily acquisitions) and statutory reporting close periods. Following the acquisition of Ontrac Technology Limited and Ontrac Limited (announced 2nd December 2015), the remuneration committee is now able to grant the options and has incorporated two years' worth of grants dating back to 1 August 2014.

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.

These can be summarised as follows:

'2014 LTIP'

· John McArthur granted a maximum of 54,545 options, Max Cawthra issued a maximum of 36,364 options

· Full award is only exercisable should statutory diluted Earnings Per Share (EPS) for the year ending 31 July 2017 be 17.37p, and Total Shareholder Return (TSR) versus AIM peer group is in the top quartile

· Where statutory diluted EPS for the year ending 31 July 2017 be less than 14.37p, 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 sliding scale basis in both instances

'2015 LTIP'

· John McArthur granted maximum of 38,182 options, Max Cawthra granted a maximum of 25,455 options

· Full award is only payable should statutory diluted EPS for the year ending 31 July 2018 be 17.95p, and TSR versus the peer group is in the top quartile

· Should statutory diluted EPS for the year ending 31 July 2018 be less than 14.95p, and TSR versus the peer group is less than the median, no options will be awarded

· For scenarios between the above range, the options will be exercisable on a sliding scale basis in both instances

The resulting interests of John McArthur and Max Cawthra in Tracsis plc can be summarised as follows:

The Tracsis remuneration committee is composed of three independent Non-Executive Directors comprised of Sean Lippell (Chair), Charles Winward and John Nelson. The committee took formal advice from KPMG in establishing the LTIP scheme rules and in determining appropriate targets and peer group comparators.

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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:

- Software and technology led consulting: Industry strength resource optimisation and rail management software that covers a variety of asset classes working alongside consulting and related professional services across the operational and strategic planning horizon.

- Remote Condition Monitoring: Technology and reporting for critical infrastructure assets in real time, to identify problems and aid with preventative maintenance.

- Traffic & Data Services: Collation and analytical services within traffic and pedestrian rich environments, plus event planning and traffic management.

§ Tracsis has a blue chip client base which includes the majority of UK transport operators such as Arriva, First, Stagecoach, Go-Ahead, National Express and Virgin. The business also works extensively with Network Rail, the Department of Transport, multiple local authorities, 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