Grant of Share Options & PDMR Dealings

RNS Number : 7941M

Smartspace Software PLC

23 September 2021

 

RNS | 23 September 2021

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR").  Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

SmartSpace Software Plc

("SmartSpace", the "Company" or the "Group")

Grant of, and amendment to, Share Options

PDMR Dealings

SmartSpace Software Plc, (AIM:SMRT) the leading provider of 'Integrated Space Management Software' for smart buildings and commercial spaces, announces that on 22 September 2021 it granted options ("New Options") over a total of 678,950 ordinary shares of 10 pence in the Company ("Ordinary Shares") to 27 employees ("Employee Options"), including PDMRs of the Company.

Options over a total of 327,035 Ordinary Shares have been granted to employees under the Company's Enterprise Management Incentive ("EMI") Share Option Scheme and options over 351,915 Ordinary Shares have been granted under the Company's Unapproved Share Option Scheme to employees not qualifying for the EMI Share Option Scheme.

The New Options have an exercise price of 137.5p per Ordinary Share (being the closing mid-market share price on 21 September 2021), and will vest three years from the date of grant (ensuring the employees remain in continuous employment within the Group for a three year period) and once vested, are exercisable at any time up to ten years after the date of grant. The options do not carry any performance criteria.

PDMR Options

Included in the New Option grant noted above, 338,950 Options have been granted to Frank Beechinor, Chief Executive Officer, and 125,000 to Kristian Shaw, Chief Financial Officer. These options do not carry any performance criteria.

In addition, the remuneration committee has decided to extend the performance period relating to a total of 351,441 existing options previously granted to Frank Beechinor and Guy van Zwanenberg which are expected to lapse in October 2021 due to the share price performance criteria not being achieved (the "Existing Options").

	Options held before changes	Options expected to lapse in October 2021	Options expected to lapse in October 2021 but which have had their performance period extended by 2 years	New options issued	Options held after changes
Frank Beechinor	650,000	(552,114)	326,057	338,950	762,893
Kristian Shaw	50,000	-	-	125,000	175,000
Guy van Zwanenberg	30,000	(25,384)	25,384	-	30,000
Total	730,000	(577,498)	351,441	463,950	967,893

The performance criteria for the Existing Options which have had their qualifying period to meet the performance criteria extended, are as follows:

Average share price achieved in any 90 calendar day period following the Date of Grant and ending on 17 October 2023	Number of 94 pence options held by Frank Beechinor that shall vest	Number of 92 pence options held by Frank Beechinor that shall vest	Number of 92 pence options held by Guy van Zwanenberg that shall vest
250 pence	45,448	15,385	4,615
350 pence	65,331	23,077	6,923
450 pence	65,331	23,077	6,923
500 pence	65,332	23,076	6,923
Total	241,442	84,615	25,384

Guy van Zwanenberg, Chairman of SmartSpace commented:

"We are now embracing our successful transformation into a pure play SaaS business, with exceptional people, complimenting this evolvement. Our remuneration strategy focuses on ensuring our key talent will be motivated, to deliver continued success for SmartSpace and its shareholders"

End

Enquiries

SmartSpace Software Plc Frank Beechinor (CEO) Kris Shaw (CFO) Lisa Baderoon (Head of Investor Relations) [e-mail]	via Lisa Baderoon - Head of Investor Relations [phone]
Singer Capital Markets  (NOMAD & Joint Broker) Shaun Dobson, Tom Salvesen, Jen Boorer, Alex Bond	[phone]

Canaccord Genuity (Joint Broker)  [phone]

Adam James

Georgina McCooke 

About SmartSpace Software Plc:

SmartSpace Software plc is a fast-growing SaaS-based technology business, designing and building smart software solutions. The Company's software solutions help transform employee engagement with modules which include visitor management, desk management, meeting room management and analytics.

The three operating companies in the Group comprise:

● Space Connect - SaaS meeting room and desk booking ( www.spaceconnect.co )

● SwipedOn - SaaS visitor management, desk booking ( www.SwipedOn.com )

● Anders & Kern - distribution and technical support ( www.anders-kern.co.uk )

For more information go to: www.smartspaceplc.com .

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Frank Beechinor
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	Smartspace Software Plc
b)	LEI	213800IQXZ3XYCMH6U90
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	Ordinary Shares of 10p each ISIN: GB00BYWN0F98
b)	Nature of the transaction	Grant of share options over Ordinary Shares
c)	Price(s) and volume(s)	Price	Volume
		Exercise price: 137.5p per Ordinary Share	338,950
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	22 September 2021
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Kristian Shaw
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	Smartspace Software Plc
b)	LEI	213800IQXZ3XYCMH6U90
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	Ordinary Shares of 10p each ISIN: GB00BYWN0F98
b)	Nature of the transaction	Grant of share options over Ordinary Shares
c)	Price(s) and volume(s)	Price	Volume
		Exercise price: 137.5p per Ordinary Share	125,000
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	22 September 2021
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Frank Beechinor
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	Smartspace Software Plc
b)	LEI	213800IQXZ3XYCMH6U90
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	Ordinary Shares of 10p each ISIN: GB00BYWN0F98
b)	Nature of the transaction	Extension of expiry date of grant of options over ordinary shares to October 2023
c)	Price(s) and volume(s)	Price	Volume
		Exercise price: 94.0p per Ordinary Share Exercise price: 92.0p per Ordinary Share	241,442 84,615
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	22 September 2021
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Guy van Zwanenberg
2	Reason for the notification
a)	Position/status	Chairman
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Smartspace Software Plc
b)	LEI	213800IQXZ3XYCMH6U90
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	Ordinary Shares of 10p each ISIN: GB00BYWN0F98
b)	Nature of the transaction	Extension of expiry date of grant of options over ordinary shares to October 2023
c)	Price(s) and volume(s)	Price	Volume
		Exercise price: 92.0p per Ordinary Share	25,384
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	22 September 2021
f)	Place of the transaction	Off market

 

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