Grant of Share Options

RNS Number : 4446S

Marlowe PLC

08 July 2020

 

8 July 2020

Marlowe plc

Grant of Share Options

Marlowe plc ("Marlowe" or the "Group"), the specialist services group focused on developing companies which assure safety and regulatory compliance, announces that the Group has today granted share options over a total of 89,780 ordinary shares of 50 pence each in Marlowe (the "New Share Options").

The New Share Options have been awarded pursuant to the Group's Long Term Incentive Plan, to drive and reward the achievement of the Group's longer-term objectives and to support retention. 63,380 of the New Share Options have been granted to Alex Dacre, Chief Executive, and 26,400 of the New Share Options have been granted to Mark Adams, Group Finance Director. The New Share Options will vest, in whole or in part, on 1 April 2023 (or upon a change of control) subject to the following performance conditions having been met over the preceding three-year period:

Compound Annual Total Shareholder Return	Vesting
Less than 5%	0%
More than 15%	100%
Between 5% and 15%	0%-100% on a straight-line basis

Unless special circumstances apply, the New Share Options will normally lapse immediately on cessation of employment. Upon vesting, the New Share Options will be exercisable at a price of 50 pence per ordinary at any time prior to expiry on 31 March 2030.

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further details.

For further information:

Marlowe plc	www.marloweplc.com
Alex Dacre, Chief Executive	Tel: [phone]
Mark Adams, Group Finance Director	[e-mail]
Cenkos Securities plc (Nominated Adviser & Joint Broker)
Nicholas Wells	Tel: [phone]
Ben Jeynes
Harry Hargreaves
Joh. Berenberg, Gossler & Co. KG, London Branch (Joint Broker)
Ben Wright	Tel: [phone]
Mark Whitmore
FTI Consulting
Nick Hasell	Tel: [phone]
Alex Le May

About Marlowe plc

Marlowe is a UK leader in specialist services which assure safety and regulatory compliance, whilst managing risk for businesses across the country. The company was formed to create sustainable shareholder value through the acquisition and development of businesses that provide regulated inspection, testing and compliance services. It is focused on health & safety, employment law compliance, fire safety, security, water treatment & hygiene, air quality and occupational health services - all of which are vital to the wellbeing of its customers operations and are invariably governed by regulation. Marlowe currently provides services to over 15% of Britain's commercial premises and is increasingly attractive to customers who require a single outsourced, nationwide, provider of a comprehensive range of regulated compliance and safety services. Our customers can be found in most office complexes, high streets & leisure facilities, manufacturing plants and industrial estates, and include SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.

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	Alex Dacre
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	Marlowe plc
b)	LEI	213800ZWSR4SBOM6B608
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 50 pence each
	Identification code	GB00BD8SLV43
b)	Nature of the transaction	Grant of new options over ordinary shares
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		Exercise price - £0.50 per option	63,380
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	8 July 2020
f)	Place of the transaction	Outside of a trading venue (XOFF)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mark Adams
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	Marlowe plc
b)	LEI	213800ZWSR4SBOM6B608
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 50 pence each
	Identification code	GB00BD8SLV43
b)	Nature of the transaction	Grant of new options over ordinary shares
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		Exercise price - £0.50 per option	26,400
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	8 July 2020
f)	Place of the transaction	Outside of a trading venue (XOFF)

 

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