Issue of Options

RNS Number : 2197Y

Redcentric PLC

04 December 2017

 

4 December 2017

Redcentric plc ("Redcentric" or the "Company")

Issue of Options

Redcentric plc (AIM: RCN) announces that on 4 December 2017 it granted a total of 437,100 options to executive directors and members of the senior management team to acquire new ordinary shares of 0.1 pence each in the Company under the Company's 2017 Long Term Incentive Plan ("LTIP Options"). The LTIP Options are nil-cost options and will vest after 3 years subject to continued employment and the meeting of certain performance conditions being compound annual growth in diluted earnings per share from the financial period ending 31 March 2017 to 31 March 2020.*

The following LTIP Options were granted to Directors:

Christopher Jagusz, Chief Executive Officer: 349,800 LTIP Options

As a result Christopher Jagusz currently holds 349,800 share options in the Company.  Mr Jagusz currently holds 7,953 ordinary shares in the Company.

* 40% of awards vest at 4% compound EPS growth and 100% vest at 10% compound EPS growth (vesting will be on a straight line basis between these levels).

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

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	Christopher Jagusz
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 to acquire 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(s)	Volume(s)
		Nil cost	349,800
e)	Aggregated information - Aggregated volume - Price - Aggregated total	N/A - single transaction
f)	Date of the transaction	4 December 2017
g)	Place of the transaction	Outside of a trading venue

Enquiries:

Redcentric plc

Chris Jagusz, Chief Executive Officer                                                                      [phone]

Peter Brotherton, Chief Financial Officer

Tulchan

James Macey White, Matt Low                                                                                  [phone]

Numis Securities Limited - Nomad and Joint Broker                                       [phone]

Simon Willis / Oliver Hardy / Tom Ballard

finnCap Limited - Joint Broker                                                                                  [phone]

Stuart Andrews / Rhys Williams

 

END

 

 

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