17 Oct 2017 09:10
17 October 2017
Touchstone Innovations plc
Grant of share options
The notification set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.
Touchstone Innovations plc (AIM: IVO, "Innovations" or "the Group") has today granted options over ordinary shares in the capital of the Group ("Award Shares") to the following PDMRs under its 2016 Long Term Incentive Plan ("LTIP").
Number of Award Shares | |
Russ Cummings | 315,515 |
Nigel Pitchford | 94,827 |
Tony Hickson | 55,173 |
Anjum Ahmad | 46,433 |
The options have an exercise price of 3 1/33 (three and one thirty-third) pence per Award Share and are exercisable in three equal tranches during the six month periods commencing on 1 December 2020, 1 December 2021 and 1 December 2022 respectively, subject to certain performance conditions having been satisfied.
This grant of options is part of the Company's long-term incentive arrangements designed to align the interests of the shareholders and executives.
The LTIP was approved by shareholders of the Company at an annual general meeting on 21 November 2016 and was adopted by the Board on the same day. The LTIP provides for options to acquire ordinary shares to be granted to eligible employees. The arrangements are described more fully in the Directors' Remuneration Report in the Group's 2016 Annual Report, a copy of which is available on the Group's website (www.touchstoneinnovations.com).
For further information please contact:
Touchstone Innovations plc | 020 3053 8834 |
David Newlands, Chairman William Rayner, Company Secretary
| |
Instinctif Partners | 020 7457 2020 |
Adrian Duffield/Melanie Toyne-Sewell/Chantal Woolcock
| |
J.P. Morgan Cazenove (Nominated Adviser) | 020 7742 4000 |
Michael Wentworth-Stanley/Alec Pratt
| |
RBC Capital Markets | 020 7653 4000 |
Darrell Uden/Marcus Jackson/Laura White |
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Russ Cummings
| ||||
2. | Reason for the notification | |||||
a) | Position / status | CHIEF EXECUTIVE OFFICER | ||||
b) | Initial notification/amendment | INITIAL NOTIFICATION | ||||
3. | Details of issuer | |||||
a) | Name | touchstone Innovations plc | ||||
b) | LEI | 213800D4RUIF3HLITE31 | ||||
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
Identification Code | NOMINAL VALUE OPTIONS OVER ORDINARY SHARES OF 3 1/33 PENCE EACH IN THE CAPITAL OF THE COMPANY GB00B170L953 | ||||
b) | Nature of the transaction | grant of long term incentive plan awards | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume price | N/A
| ||||
e) | Date of the transaction
| 2017-10-17 | ||||
f) | Place of the transaction | OUTSIDE A TRADING VENUE | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | nigel pitchford | ||||
2. | Reason for the notification | |||||
a) | Position / status | CHIEF INVESTMENT OFFICER | ||||
b) | Initial notification/amendment | INITIAL NOTIFICATION | ||||
3. | Details of issuer | |||||
a) | Name | touchstone Innovations plc | ||||
b) | LEI | 213800D4RUIF3HLITE31 | ||||
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
Identification Code | NOMINAL VALUE OPTIONS OVER ORDINARY SHARES OF 3 1/33 PENCE EACH IN THE CAPITAL OF THE COMPANY GB00B170L953 | ||||
b) | Nature of the transaction | grant of long term incentive plan awards | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume price | N/A
| ||||
e) | Date of the transaction
| 2017-10-17 | ||||
f) | Place of the transaction | OUTSIDE A TRADING VENUE | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | TONY HICKSON
| ||||
2. | Reason for the notification | |||||
a) | Position / status | MANAGING DIRECTOR - TECHNOLOGY TRANSFER | ||||
b) | Initial notification/amendment | INITIAL NOTIFICATION | ||||
3. | Details of issuer | |||||
a) | Name | touchstone Innovations plc | ||||
b) | LEI | 213800D4RUIF3HLITE31 | ||||
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
Identification Code | NOMINAL VALUE OPTIONS OVER ORDINARY SHARES OF 3 1/33 PENCE EACH IN THE CAPITAL OF THE COMPANY GB00B170L953 | ||||
b) | Nature of the transaction | grant of long term incentive plan awards | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume price | N/A
| ||||
e) | Date of the transaction
| 2017-10-17 | ||||
f) | Place of the transaction | OUTSIDE A TRADING VENUE | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | ANJUM AHMAD
| ||||
2. | Reason for the notification | |||||
a) | Position / status | TREASURY AND FINANCE DIRECTOR | ||||
b) | Initial notification/amendment | INITIAL NOTIFICATION | ||||
3. | Details of issuer | |||||
a) | Name | touchstone Innovations plc | ||||
b) | LEI | 213800D4RUIF3HLITE31 | ||||
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
Identification Code | NOMINAL VALUE OPTIONS OVER ORDINARY SHARES OF 3 1/33 PENCE EACH IN THE CAPITAL OF THE COMPANY GB00B170L953 | ||||
b) | Nature of the transaction | grant of long term incentive plan awards | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume price | N/A
| ||||
e) | Date of the transaction
| 2017-10-17 | ||||
f) | Place of the transaction | OUTSIDE A TRADING VENUE | ||||
Imperial Innovations Group (IVO)