Exercise and Granting of Options

RNS Number : 4532J

Quartix Holdings PLC

05 December 2018

 

Quartix Holdings plc

("Quartix" or the "Company")

Exercise and Granting of Options

Exercise of Options

Quartix Holdings plc, a leading supplier of subscription-based vehicle tracking systems, software and services in the UK, announces that it has issued 50,000 new ordinary shares in the Company (the "New Ordinary Shares") following the exercise of 50,000 options to subscribe for new ordinary shares in the Company at a price of 44 pence per New Ordinary Share. The options were exercised by Peter Brown, Systems Director who is a PDMR. Following the issue of the New Ordinary Shares Mr Brown will be beneficially interested in 215,000 ordinary shares in the Company, representing approximately 0.45 per cent. of the issued share capital.

Application has been made for the New Ordinary Shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM ("Admission") and it is expected that admission will become effective and trading will commence at 8.00 a.m. on 10 December 2018. Following Admission the Company will have 47,846,560 ordinary shares in issue. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.  

Granting of Options

Following the management changes announced by the Company on 4 October 2018, Daniel Mendis, Chief Financial Officer, has assumed additional responsibilities including responsibility for the Company's operations and certain aspects of its UK commercial relationships, including its largest insurance client and fleet distribution network. In lieu of an increase in his base salary to reflect these additional responsibilities the Remuneration Committee has agreed to the rebasing of 92,592 of the 280,000 options over ordinary shares of 1 pence each ("Ordinary Shares") granted to him on 1 December 2017. As a consequence Mr Mendis has 187,408 options at the original exercise price of £3.60 which are governed by the original terms announced at that time and 92,592 options at an exercise price of £2.70 ("New Options"), being the closing mid-market price of the Company's Ordinary Shares on 4 December 2018. The New Options vest dependent on certain performance targets linked to the growth in the Company's fleet subscription base and the Company's generation of free cash flow in each of 2019, 2020 and 2021. The New Options are exercisable in three annual tranches, the first of which will follow the announcement of the Company's 2019 final results (expected to be in late February or early March 2020), and are subject to certain minimum holding periods.

The Company has also granted 92,592 options over Ordinary Shares to Peter Brown, Systems Director. Following Mr Brown's exercise of options described above this grant of new options represents the only options Mr Brown holds. The terms of these options are identical to those of the New Options granted to Mr Mendis.

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

For further information, please contact:

Quartix (www.quartix.net) Andrew Walters, Chief Executive Daniel Mendis, Chief Financial Officer	01686 806 663
finnCap (Nominated Adviser and Broker) Matt Goode /Scott Mathieson (Corporate Finance) Alice Lane (Corporate Broking)	020 7220 0500
Cantor Fitzgerald (Joint Broker)           Marc Milmo Catherine Leftley	020 7894 7000

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	Peter David Brown
2.	Reason for the Notification
a)	Position/status	Systems Director - Quartix Ltd
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Quartix Holdings plc
b)	LEI	213800I4PGCG3QUIHC59
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	1p ordinary shares
	Identification code	QTX GB00BLZH2C83
b)	Nature of the transaction	Exercise of options
c)	Price(s) and volume(s)	Price(s) Volume(s) 44 pence 50,000
d)	Aggregated information: ·Aggregated volume ·Price	50,000 ordinary shares of 1 pence bought at 44 pence per ordinary share
e)	Date of the transaction	4 December 2018
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Peter David Brown
2.	Reason for the Notification
a)	Position/status	Systems Director - Quartix Ltd
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Quartix Holdings plc
b)	LEI	213800I4PGCG3QUIHC59
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 1p ordinary shares
	Identification code	QTX GB00BLZH2C83
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) 270 pence 92,592
d)	Aggregated information: ·Aggregated volume ·Price	92,592 options over ordinary shares of 1 pence exercisable at 270 pence per ordinary share
e)	Date of the transaction	4 December 2018
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Dan Mendis
2.	Reason for the Notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Quartix Holdings plc
b)	LEI	213800I4PGCG3QUIHC59
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 1p ordinary shares
	Identification code	QTX GB00BLZH2C83
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) 270 pence 92,592
d)	Aggregated information: ·Aggregated volume ·Price	92,592 options over ordinary shares of 1 pence exercisable at 270 pence per ordinary share (replacing 92,592 options granted to Mr. Mendis on 1 December 2017)
e)	Date of the transaction	4 December 2018
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

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