Director/PDMR Shareholding

RNS Number : 8163Q

Filtronic PLC

02 March 2016

 

2nd March 2016

Filtronic plc

("Filtronic" or the "Company")

DIRECTOR DEALINGS

Filtronic plc (AIM: FTC), the designer and manufacturer of microwave electronics products for the wireless telecoms infrastructure market and adjacent markets, announces that as part of its turnaround strategy, it has issued employee share options under the Company's Employee Share Option Plan (ESOP) to a number of its key employees to help in the motivation, retention and incentivisation of staff.

An option over 1 million Ordinary Shares was granted on 1^st March 2016 to Rob Smith, executive director and CEO. The exercise price of the option granted is 5.375p per Ordinary Share. Vesting of the options is subject to satisfaction of certain performance criteria over a three year period. The option can be exercised (subject to vesting, performance and other conditions being met) for a period of 10 years from 1^st March 2016.

Immediately prior to the grant, Rob Smith relinquished all interest in the options previously granted to  him on 15^th August 2014 such that following this grant, Rob Smith holds an option over 1,000,000 Ordinary Shares, representing 0.48% of the Company's issued share capital and holds 257,650 shares in the Company representing 0.125% of the share capital of the Company.

Enquiries:

Filtronic plc	Tel. [phone]
Rob Smith (CEO)
Reg Gott (Chairman)	Tel: [phone]
Maura Moynihan (Company Secretary)	Tel. [phone]
Panmure Gordon (UK) Limited	Tel. [phone]
Dominic Morley / Alina Vaskina (Corporate Finance) Erik Anderson / Tom Salvesen (Corporate Broking)
Walbrook PR Limited	Tel. [phone] or [e-mail]
Paul Cornelius Helen Cresswell	Mob. [phone] Mob. [phone]

 

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