Grant of Long Term Incentive Plan Awards

Craneware plc

07 September 2023

 

Craneware plc

("Craneware" or the "Company")

Grant of Long Term Incentive Plan Awards

7 September 2023 - The Board of Craneware plc (AIM: CRW.L), the market leader in automated Value Cycle solutions for the US healthcare market, announces that on 6 September 2023, under the terms of the Craneware plc Long Term Incentive Plan (2022) ("LTIP"), a conditional award of ordinary shares of 1p each in the Company ("Shares") was granted to three Directors of the Company and to the Company's Chief Legal Officer who is also now considered to be a person discharging managerial responsibilities ("PDMR") as follows:  

Director / other PDMR	No. of Shares over which a conditional share award was granted	Percentage of issued share capital
Keith Neilson (Director & CEO)	43,320	0.12%
Craig Preston (Director & CFO)	32,200	0.09%
Isabel Urquhart (Director & CPO)	22,133	0.06%
Eric Carter (CLO)	17,918	0.05%

The awards will ordinarily vest after three years subject to:

(i) the satisfaction of certain performance conditions (each with 50% weighting) based on: (a) the Company's total shareholder return ("TSR") performance relative to the performance achieved by the constituent companies within the FTSE AIM 100 Index; and (b) compound annual growth in adjusted diluted earnings per share, as reported in the consolidated financial statements of the Company and its subsidiaries; and

(ii) the award holder's continued employment.

The performance conditions are measured in three tranches such that one third of the Shares over which the LTIP awards subsist will vest based on performance over the three financial years ending on 30 June 2024, one third based on performance over the three financial years to 30 June 2025 and the final third based on performance over the three financial years to 30 June 2026 - an aggregate five year period. Any tranche (or part thereof) that does not meet the performance criteria will lapse.

If and to the extent that these LTIP awards vest, the resulting (net of tax) Shares will be subject to a two year holding period.

There was no consideration for the grant of the LTIP awards and no consideration will be payable by the award holders to receive the Shares from these LTIP awards, if and to the extent that they vest. 

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

PDMR notification: Keith Neilson

1.   Details of the Restricted Person / person closely associated with him or her

a) Name                                                            Keith Neilson

2.   Reason for the notification

a) Position / status                                            CEO

b) Initial notification / Amendment                       Initial notification

3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name                                                            Craneware plc

b) LEI                                                                213800O2CTJ1YFXNXG05

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                                                         Ordinary shares of 1p each in the capital of Craneware plc

b) Identification code                                         ISIN GB00B2425G68

c) Nature of the transaction                                Grant of conditional share award under the Craneware plc

                                                                                    Long Term Incentive Plan (2022)

d) Price(s) and volume(s)                                   Volume(s) granted 43,320, Price(s) £0

e) Aggregated information:

                                    i. Aggregated volume                Aggregate volume granted 43,320

                                    ii. Price                                     Price(s) £0

f) Date of the transaction                                  2023-09-06

g) Place of the transaction                                 Outside a trading venue

PDMR notification: Craig Preston

1.   Details of the Restricted Person / person closely associated with him or her

a) Name                                                            Craig Preston

2.   Reason for the notification

a) Position / status                                            CFO

b) Initial notification / Amendment                       Initial notification

3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name                                                            Craneware plc

b) LEI                                                                213800O2CTJ1YFXNXG05

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                                                         Ordinary shares of 1p each in the capital of Craneware plc

b) Identification code                                         ISIN GB00B2425G68

c) Nature of the transaction                                Grant of conditional share award under the Craneware plc

                                                                                    Long Term Incentive Plan (2022)

d) Price(s) and volume(s)                                   Volume(s) granted 32,200, Price(s) £0

e) Aggregated information:

                                    i. Aggregated volume                Aggregate volume granted 32,200   

                                    ii. Price                                     Price(s) £0

f) Date of the transaction                                  2023-09-06

g) Place of the transaction                                 Outside a trading venue

PDMR notification: Isabel Urquhart

1.   Details of the Restricted Person / person closely associated with him or her

a) Name                                                            Isabel Urquhart

2.   Reason for the notification

a) Position / status                                            Chief People Officer

b) Initial notification / Amendment                       Initial notification

3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name                                                            Craneware plc

b) LEI                                                                213800O2CTJ1YFXNXG05

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                                                         Ordinary shares of 1p each in the capital of Craneware plc

b) Identification code                                         ISIN GB00B2425G68

c) Nature of the transaction                                Grant of conditional share award under the Craneware plc

                                                                                    Long Term Incentive Plan (2022)

d) Price(s) and volume(s)                                   Volume(s) granted 22,133, Price(s) £0

e) Aggregated information:

                                    i. Aggregated volume                Aggregate volume granted 22,133

                                    ii. Price                                     Price(s) £0

f) Date of the transaction                                  2023-09-06

g) Place of the transaction                                 Outside a trading venue

PDMR notification: Eric Carter

1.   Details of the Restricted Person / person closely associated with him or her

a) Name                                                            Eric Carter

2.   Reason for the notification

a) Position / status                                            Chief Legal Officer

b) Initial notification / Amendment                       Initial notification

3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name                                                            Craneware plc

b) LEI                                                                213800O2CTJ1YFXNXG05

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                                                         Ordinary shares of 1p each in the capital of Craneware plc

b) Identification code                                         ISIN GB00B2425G68

c) Nature of the transaction                                Grant of conditional share award under the Craneware plc

                                                                                    Long Term Incentive Plan (2022)

d) Price(s) and volume(s)                                   Volume(s) granted 17,918, Price(s) £0

e) Aggregated information:

                                    i. Aggregated volume                Aggregate volume granted 17,918 

                                    ii. Price                                     Price(s) £0

f) Date of the transaction                                  2023-09-06

g) Place of the transaction                                 Outside a trading venue

For further information, please contact:

Craneware plc	[phone]
Keith Neilson, CEO
Craig Preston, CFO
Alma (Financial PR)	[phone]
Caroline Forde, Joe Pederzolli, Kinvara Verdon	[e-mail]
Peel Hunt (NOMAD and Joint Broker)	[phone]
Neil Patel, Paul Gillam, Richard Chambers
Investec Bank PLC (Joint Broker)	[phone]
Patrick Robb, Henry Reast, Cameron MacRitchie
Berenberg (Joint Broker)	[phone]
Mark Whitmore, Richard Andrews, Dan Gee-Summons

About Craneware

The Craneware Group (AIM:CRW.L), the market leader in automated value cycle solutions, including 340B management, collaborates with U.S. healthcare providers to plan, execute, and monitor operational and financial performance so they can continue to deliver quality care to their communities. Customers choose The Craneware Group's Trisus data and applications platform as their key to navigating the journey to financially sustainable value-based care. Trisus combines revenue integrity, cost management, 340B performance, and decision enablement into a single, SaaS-based platform. Trisus Chargemaster secured top ranking in the Chargemaster Management category of the "2023 Best in KLAS Awards: Software & Services" and is part of an extensive value cycle management suite. The Craneware Group - transforming the business of healthcare.

Learn more at www.thecranewaregroup.com

 

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