Grant of Options

RNS Number : 2847J

Arcontech Group PLC

03 December 2018

 

ARCONTECH GROUP PLC

("Arcontech" or the "Company")

Grant of Options

Arcontech (AIM: ARC), the provider of products and services for real-time financial market data processing and trading, announces that on 29 November 2018 it granted options ("Options") over ordinary shares of £0.125 in the Company ("Ordinary Shares") under the Company's EMI and non EMI schemes to Matthew Jeffs (Chief Executive), Michael Levy (Group Finance Director) and Darren Lewis (Head of Development).

The Options have been granted at a price of 110 pence per Ordinary Share, being the closing mid-market price of an Ordinary Share on 28 November 2018. They will be exercisable from 30 June 2021, dependent on the Company's compound annual rate of growth in fully diluted earnings* for the three financial years ending 30 June 2021.

The Options will vest subject to performance criteria as follows:

-     compound annual earnings growth of 10% or more - fully vested (100%);

-     compound annual earnings growth between 5%-10% - partial vesting between 0% and 100% on a sliding scale; and

-     compound annual earnings growth of 5% and below - nil.

Dependent on the performance criteria above being achieved, the number of Options that will vest and become exercisable is as follows:

Director/PDMR	Number of Options
Matthew Jeffs	100,000
Michael Levy	50,000
Darren Lewis	50,000

Any Ordinary Shares arising from the vesting of Options must be held for a period of two years.

Following this grant, there are a total of 550,397 options outstanding, representing approximately 4.2 per cent. of the current issued share capital of the Company.

Further detail is set out in the PDMR disclosure tables below.

* Fully diluted earnings will be based on: (a) the Company's pre-tax profit excluding exceptional items and the share option charge and (b) the current UK corporation tax rate of 19%, such that the fully diluted earnings calculation takes no account of R&D and deferred tax credits. For the purposes of the fully diluted earnings calculation, the applied rate of corporation tax will remain constant at 19% irrespective of any current or future changes to corporation tax.

Enquiries:
Arcontech Group plc
Richard Last, Chairman and Non-Executive Director	07713 214484
Matthew Jeffs, Chief Executive	020 7256 2300
finnCap Ltd (Nomad & Broker)
Carl Holmes/Simon Hicks	020 7220 0500
To access more information on the Group please visit: www.arcontech.com

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Matthew Jeffs
2.	Reason for the Notification
a)	Position/status	Chief Executive
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Arcontech Group Plc
b)	LEI	213800O7PM9V79TP7523
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	Options over Ordinary Shares of £0.125
	Identification code	ARC GB00BDBBJZ03
b)	Nature of the transactions	Grant of Options over Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 110p 100,000
d)	Aggregated information: ·    Aggregated volumes ·    Prices	See 4(c) above
e)	Date of the transaction	28 November 2018
f)	Place of the transaction	Off market transaction

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael Levy
2.	Reason for the Notification
a)	Position/status	Finance Director
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Arcontech Group Plc
b)	LEI	213800O7PM9V79TP7523
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	Options over Ordinary Shares of £0.125
	Identification code	ARC GB00BDBBJZ03
b)	Nature of the transactions	Grant of Options over Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 110p 50,000
d)	Aggregated information: ·    Aggregated volumes ·    Prices	See 4(c) above
e)	Date of the transaction	28 November 2018
f)	Place of the transaction	Off market transaction

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Darren Lewis
2.	Reason for the Notification
a)	Position/status	Head of Development
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Arcontech Group Plc
b)	LEI	213800O7PM9V79TP7523
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	Options over Ordinary Shares of £0.125
	Identification code	ARC GB00BDBBJZ03
b)	Nature of the transactions	Grant of Options over Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 110p 50,000
d)	Aggregated information: ·    Aggregated volumes ·    Prices	See 4(c) above
e)	Date of the transaction	28 November 2018
f)	Place of the transaction	Off market transaction

 

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