Grant and cancellation of options

Rosslyn Data Technologies PLC

29 September 2023

 

29 September 2023

Rosslyn Data Technologies plc

("Rosslyn" or the "Company")

Grant and Cancellation of Options

Further to the Company's announcement of 30 August 2023, Rosslyn (AIM: RDT), the provider of a leading cloud-based enterprise data analytics platform, announces the grant of options over ordinary shares of 25p each in the Company ("Ordinary Shares") and the concurrent cancellation of options over Ordinary Shares. This includes the grant of options to, and cancellation of options held by, a Director and a PDMR of the Company.

As referenced in the Company's circular to shareholders dated 31 August 2023, the Board recognises the importance of share options to appropriately incentivise and retain employees as well as to ensure their interests are aligned with that of Company and its shareholders. Following a review of employee incentives, the Remuneration Committee of the Board recommended that, given the reduction in the Company's share price and the changes in the share capital following the recent fundraising and share consolidation, the existing awards of share options were no longer a reasonable incentive and should be replaced to re-align the option scheme with the current share price and share capital. The Board of Directors approved this recommendation and is adopting a new share option plan. The adoption of the new share option plan was approved by shareholders at the general meeting of the Company on 18 September 2023.

Accordingly, the Company, on 29 September 2023, cancelled 525,846* options over Ordinary Shares ("Historic Options"), including those held by a Director and a PDMR of the Company as detailed below. The holders of the Historic Options have agreed to their cancellation with immediate effect.

On 29 September 2023 (the "Grant Date"), the Company granted a total of 1,871,833 options over Ordinary Shares (the "New Options"), a portion of which are to replace the Historic Options alongside the grant of options to new holders. This includes the grant of options to a Director and PDMR of the Company as detailed below.

PDMR	Number of New Options granted	Exercise price of New Options granted	Number of Historic Options cancelled*	Total number of options held following the grant and cancellation of options
Paul Watts, CEO and Director	882,964	25.0p	322,134	882,964
Ed Riddell, CFO	441,482	25.0p	100,000	441,482

* The number of options following the 50:1 share consolidation on 19 September 2023

The New Options granted to Paul Watts and Ed Riddell vest in three equal tranches on the first, second and third anniversaries of the Grant Date subject to the satisfaction of performance criteria related to increases in share price and the achievement of targets related to ARR, revenue and EBITDA. The New Options expire 10 years from the Grant Date and are exercisable subject to the satisfaction of the performance achievements and the individual remaining an employee of the Company. The exercise price of 25.0p represents the price at which the new Ordinary Shares were issued in the Company's recent fundraising adjusted for the share consolidation.

Following the cancellation of the Historic Options and grant of the New Options, the Company now has options outstanding over a total of 1,939,549 Ordinary Shares, representing 11.0% of the current issued share capital of the Company.

For further information please contact:

Rosslyn
Paul Watts, Chief Executive Officer James Appleby, Chairman	[phone]
Cavendish Securities (Nominated adviser and Broker)
Stephen Keys/Camilla Hume/George Lawson	[phone]
Gracechurch Group (Financial PR)
Claire Norbury/Anysia Virdi	[phone]

About Rosslyn Data Technologies plc

Rosslyn (AIM: RDT) provides an award-winning spend analytics and predictive analytics platform. The Rosslyn Platform helps organizations with diverse supply chains mitigate risk and make informed strategic decisions. It leverages automated workflows, artificial intelligence and machine learning to extract and consolidate procurement data providing visibility of complex supplier data, enabling supplier spend savings and delivering rapid ROI. For more information visit www.rosslyn.ai 

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	Paul Watts
2	Reason for the notification
a)	Position/status	Executive Director and CEO
b)	Initial notification/amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Rosslyn Data Technologies plc
b)	LEI	213800UJ7YTBGGXGJN09
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 ordinary shares of 0.5 pence each
	Identification code	GB00BMV2DB09
b)	Nature of the transaction	Grant and cancellation of options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			25.0 pence (GRANT)	882,964  (GRANT)
			260.0 pence (CANCELLATION)	38,461 (CANCELLATION)
			245.0 pence (CANCELLATION)	183,673 (CANCELLATION)
			49.5 pence (CANCELLATION)	100,000 (CANCELLATION)
d)	Aggregated information
	- Aggregated volume	N/A
	- Price	N/A
e)	Date of the transaction	29 September 2023
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Edward Riddell
2	Reason for the notification
a)	Position/status	CFO and PDMR
b)	Initial notification/amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Rosslyn Data Technologies plc
b)	LEI	213800UJ7YTBGGXGJN09
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 ordinary shares of 0.5 pence each
	Identification code	GB00BMV2DB09
b)	Nature of the transaction	Grant and cancellation of options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			25.0 pence (GRANT)	441,482 (GRANT)
			49.5 pence (CANCELLATION)	100,000 (CANCELLATION)
d)	Aggregated information
	- Aggregated volume	N/A
	- Price	N/A
e)	Date of the transaction	29 September 2023
f)	Place of the transaction	Off market

 

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