Grant of Options and PDMR Shareholding

Redcentric PLC

02 October 2024

 

Redcentric plc

Grant of Options and PDMR Shareholding

Redcentric plc (AIM: RCN) ("Redcentric" or the "Company"), a leading UK IT managed services provider, announces that it has granted a total of 1,931,681 options over new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") under the Company's 2016 Long Term Incentive Plan ("LTIP Options"). The LTIP Options are three-year, nominal cost (0.1p) options and subject to continued employment and the meeting of certain performance conditions described below. 963,344 of the LTIP Options were granted to executive directors of the Company as follows:

·     612,418 LTIP Options were granted to Peter Brotherton, Chief Executive Officer of the Company, following which Mr. Brotherton holds a total of 1,857,311 options over Ordinary Shares and 452,479 Ordinary Shares (representing approximately 0.29% of the Company's issued voting share capital); and

·     350,926 LTIP Options were granted to David Senior, Chief Financial Officer of the Company, following which Mr. Senior holds a total of 1,050,026 options over Ordinary Shares and 113,090 Ordinary Shares (representing approximately 0.07% of the Company's issued voting share capital).

The LTIP Options in respect of the executive directors have a value equal to 200% of salary with the first 100% of salary based 50% on absolute Total Shareholder Return ("TSR") between 5% and 10% p.a. and 50% of salary based on adjusted Earnings per Share ("EPS") for the year ended 31 March 2027 of between 5p and 7p. The second 100% of salary based 50% on absolute TSR between 10% and 15% p.a. and 50% of salary based on adjusted EPS for the year ended 31 March 2027 of between 7p and 9p.

Following the grant of the LTIP Options, there are options outstanding over 6,727,609 Ordinary Shares, representing 4.2% of the Company's issued voting share capital.

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

Enquiries:

Redcentric plc Peter Brotherton, Chief Executive Officer David Senior, Chief Financial Officer	[phone]
Cavendish Ltd - Nomad and Sole Broker Marc Milmo (Corporate Finance) Andrew Burdis (ECM)	[phone]

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 Brotherton
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	Redcentric plc
b)	Legal Entity Identifier	213800FGYMMNE9OKFD14
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 Identification code	Options over new ordinary shares of 0.1p each GB00B7TW1V39
b)	Nature of the transaction	Grant of options
c)	Currency	GBP
d)	Price(s) and volume(s)	Price (exercise)	Volume(s)
		0.1p	612,418
e)	Aggregated information - Aggregated volume - Price - Aggregated total	N/A - single transaction
f)	Date of the transaction	02 October 2024
g)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	David Senior
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	Redcentric plc
b)	Legal Entity Identifier	213800FGYMMNE9OKFD14
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 Identification code	Options over new ordinary shares of 0.1p each  GB00B7TW1V39
b)	Nature of the transaction	Grant of options
c)	Currency	GBP
d)	Price(s) and volume(s)	Price (exercise)	Volume(s)
		0.1p	350,926
e)	Aggregated information - Aggregated volume - Price - Aggregated total	N/A - single transaction
f)	Date of the transaction	02 October 2024
g)	Place of the transaction	Outside of a trading venue

 

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