Issue of Options

RNS Number : 5231U

Eleco PLC

02 August 2022

 

2 August 2022

Eleco Plc

("Eleco", "Group" or the "Company")

Issue of Options

The Board of Eleco plc (AIM: ELCO), the AIM-listed construction software specialist, advises that on 1 August 2022 the Company issued a total of 750,000 options to subscribe for new ordinary shares of 1p each (the "Ordinary Shares") in the Company under the Eleco 2014 Share Option Plan (the "Options").

250,000 options were granted to Jonathan Hunter, CEO of the Company. Of these, 150,000 are market priced options, which have no vesting criteria other than to remain in employment by the Group and shall vest after a 3-year vesting period. 100,000 are nominal cost options which shall vest after 3 years if certain performance criteria related to recurring revenue growth, overall revenue growth and share price growth are met. To fully vest, Eleco will need to achieve significant revenue growth from current levels and will need to outperform against current market forecasts.

The remaining 500,000 Options were granted to various employees of the Company, which are market priced options with no vesting criteria other than to remain in employment by the Group and shall vest after a 3-year vesting period.

All market priced options are exercisable at 70 pence. All Options will expire on 31 July 2032. Details of PDMR awards are included in the disclosure notices at the end of this announcement.

Director/PDMR	Options issued	Total options held post issue
Jonathan Hunter	250,000	850,000
Birgit Lenton	100,000	100,000
Luben Kirov	100,000	100,000

Following the issue of the Options, the total number of options in issue post award is 2,750,000, representing approximately 3.3% of the Company's issued share capital.

Enquiries:

Eleco plc	[phone]
Jonathan Hunter, Chief Executive Officer
Rose Clark, Interim CFO
finnCap Limited	[phone]
Geoff Nash / Kate Bannatyne / James Balicki (Corporate Finance)
Richard Chambers / Charlotte Sutcliffe (ECM)
SEC Newgate UK	[phone]
Elisabeth Cowell / Bob Huxford / Isabelle Smurfit	[e-mail]

About Eleco plc

Eleco plc is an AIM-listed (AIM: ELCO) specialist international provider of software and related services to the Architectural, Engineering, Construction and Owner/Operator (AECO) industries and interior furnishing industries from centres of excellence in the UK, Sweden, Germany and the Netherlands.

The Company's market-leading Elecosoft software solutions are developed by teams in the United Kingdom, Sweden and Germany, and its solutions cover project management, estimating, timber engineering, CAD and visualisation, asset and facility management and cloud-based digital marketing solutions.

For further information please visit www.eleco.com .

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

1.	Details of PDMR / person closely associated with them ('PCA')
a)	Name	Jonathan Hunter
2.	Reason for the Notification
a)	Position / status	Chief Executive Officer
b)	Initial notification /amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Eleco plc
b)	LEI	21380016GT9Z6ZQX4T37
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
	Identification code	GB0003081246
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Name	Price(s)	Volume(s)
		Jonathan Hunter	1p 70p	100,000 150,000
d)	Aggregated information: Aggregated volume Price	250,000 £106,000
e)	Date of the transaction	1 August 2022
f)	Place of the transaction	Outside of a trading venue

1.	Details of PDMR / person closely associated with them ('PCA')
a)	Name	Birgit Lenton
2.	Reason for the Notification
a)	Position / status	Group Transformation Director / PDMR
b)	Initial notification /amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Eleco plc
b)	LEI	21380016GT9Z6ZQX4T37
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
	Identification code	GB0003081246
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Name	Price(s)	Volume(s)
		Birgit Lenton	70p	100,000
d)	Aggregated information: Aggregated volume Price	100,000 £70,000
e)	Date of the transaction	1 August 2022
f)	Place of the transaction	Outside of a trading venue

1.	Details of PDMR / person closely associated with them ('PCA')
a)	Name	Luben Kirov
2.	Reason for the Notification
a)	Position / status	Chief Technology Officer / PDMR
b)	Initial notification /amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Eleco plc
b)	LEI	21380016GT9Z6ZQX4T37
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
	Identification code	GB0003081246
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Name	Price(s)	Volume(s)
		Luben Kirov	70p	100,000
d)	Aggregated information: Aggregated volume Price	100,000 £70,000
e)	Date of the transaction	1 August 2022
f)	Place of the transaction	Outside of a trading venue

 

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