Grant of Options

RNS Number : 3370J

Sanderson Group PLC

29 March 2018

 

FOR IMMEDIATE RELEASE                                                                       29 MARCH 2018

SANDERSON GROUP PLC

Grant of Options

Sanderson Group plc ('Sanderson' or 'the Group'), the software and IT services business specialising in digital retail technology and enterprise software for businesses operating in the manufacturing, wholesale distribution and logistics sectors, announces that Mr Ian Newcombe, Group Chief Executive Officer and Mr Richard Mogg, Group Finance Director, have been granted options to subscribe for a total of 1,750,000 new ordinary shares of 10 pence each ('Ordinary Shares') in the Group.  Brief details of the options awarded are as follows: 

Mr Ian Newcombe:

No. of options	Option price	Earliest exercise date	Vesting conditions
500,000	25p	01.01.2019	Financial performance
250,000	25p	01.01.2020	Financial performance
500,000	25p	01.01.2021	Retention

Mr Richard Mogg:

No. of options	Option price	Earliest exercise date	Vesting conditions
125,000	25p	01.01.2019	Financial performance
125,000	25p	01.01.2020	Financial performance
250,000	25p	01.01.2021	Financial performance and retention

None of the above share options are exercisable unless the mid-price of the Ordinary Shares, as quoted by the London Stock Exchange AIM market, is above 75 pence and the Ordinary Shares issued as a result of the exercise of any of the options cannot be sold before 1 January 2021.

Following the option grant, the above reflects the extent of options held in aggregate by Mr Mogg.  Mr Newcombe holds in aggregate options over 2,258,000 ordinary shares as detailed below:

No. of options	Exercise price	Earliest exercise date	Expiry date
300,000	23p	21.05.2013	21.05.2020
118,750	30p	29.06.2014	29.06.2018
200,000	45.75p	27.11.2015	27.11.2019
31,250	30p	29.06.2014	29.06.2018
35,000	27.5p	05.04.2014	05.01.2021
200,000	71p	13.12.2016	13.12.2023
123,000	72p	17.01.2020	17.01.2024
500,000	25p	01.01.2019	29.03.2028
250,000	25p	01.01.2020	29.03.2028
500,000	25p	01.01.2021	29.03.2028

1	Details of PDMR/person closely associated with them ("PCA")
(a)	Name	Ian Newcombe
(b)	Position / status	Chief Executive Officer
(c)	Initial notification / amendment	Initial notification
2	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	Options over ordinary shares of 10p each
	Legal Entity Identifier	213800I78F2ZHZH2T148
(b)	Nature of the transaction	Grant of options
(c)	Price(s) and volume(s)	Exercise price(s) Volume(s) 25p 1,250,000
(d)	Aggregated information Aggregated volume Price	n/a
(e)	Date of the transaction	29 March 2018
(f)	Place of the transaction	Outside of a trading venue

1	Details of PDMR/person closely associated with them ("PCA")
(a)	Name	Richard Mogg
(b)	Position / status	Group Finance Director
(c)	Initial notification / amendment	Initial notification
2	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	Options over ordinary shares of 10p each
	Legal Entity Identifier	213800I78F2ZHZH2T148
(b)	Nature of the transaction	Grant of options
(c)	Price(s) and volume(s)	Exercise price(s) Volume(s) 25p 500,000
(d)	Aggregated information Aggregated volume Price	n/a
(e)	Date of the transaction	29 March 2018
(f)	Place of the transaction	Outside of a trading venue

Sanderson Group plc	0333 123 1400
Christopher Winn, Chairman
Ian Newcombe, Chief Executive
Richard Mogg, Finance Director
Singer N+1 - Nominated Advisor and Broker	020 7496 3000
Mark Taylor James White
Walbrook PR Paul Vann	0117 985 8989 or 07768 807631

 

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