Grant of Share Options

RNS Number : 1339O

SRT Marine Systems PLC

27 May 2020

 

SRT MARINE SYSTEMS PLC

("SRT" or the "Company")

Grant of Share Options

SRT Marine Systems plc, a global provider of maritime surveillance, monitoring and management systems, announces that share options have been granted to Executive and Non-Executive Directors (the "Options").

Richard Hurd, CFO, has been granted Options over 600,000 ordinary shares ("Ordinary Shares"), and Neil Peniket, COO, has been granted Options over 1,200,000 Ordinary Shares. The Options are exercisable at the nominal value of 0.1p and vest in four equal tranches when the closing share price has exceeded each of, 75p, 125p, 150p and 200p.

In addition Kevin Finn, Non-Exec Chairman, has been granted Options over 1,000,000 Ordinary Shares and Simon Barrell, Non-Exec Director, has been granted Options over 300,000 shares. The Options are exercisable at a price of 32.5p, being the closing share price on the day of Option grant, 27 May 2020, and vest in four equal tranches when the closing share price has exceeded each of, 75p, 125p, 150p and 200p.

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

For further information, please contact:
SRT Marine Systems plc	www.srt-marine.com + 44 (0) 1761 409500
Simon Tucker (CEO)	simon.tucker@s rt-marine.com
Louise Coates (Marketing Manager)	louise.coates@s rt-marine.com
finnCap Ltd
Jonny Franklin-Adams / Teddy Whiley (Corporate Finance)	[phone]
Tim Redfern / Richard Chambers (ECM)

  About SRT Marine Systems plc:

SRT develops, manufactures and supplies maritime surveillance and vessel tracking technologies, products and systems. The Company's products and solutions are used by individual vessel owners, port authorities, maritime infrastructure owners, coast guards, fishery agencies and other national security agencies to enhance their maritime domain awareness, monitoring and management capabilities. Applications include the tracking of commercial and leisure vessels; sustainable fishery; anti-collision; search and rescue; waterway management, port and coast security; pollution management; and environmental management. 

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	Richard Hurd
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	SRT Marine Systems Plc
b)	LEI	2138002DF3KFXL472938
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 Ordinary Shares of 0.1p each  GB00B0M8KM36
b)	Nature of the transaction	Issue of options over ordinary shares of 0.1p each
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.1p exercise price 600,000
d)	Aggregated information - Aggregated volume - Price	n/a
e)	Date of the transaction	27 May 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Neil Peniket
2	Reason for the notification
a)	Position/status	Chief Operating Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	SRT Marine Systems Plc
b)	LEI	2138002DF3KFXL472938
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 Ordinary Shares of 0.1p each  GB00B0M8KM36
b)	Nature of the transaction	Issue of options over ordinary shares of 0.1p each
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.1p exercise price 1,200,000
d)	Aggregated information - Aggregated volume - Price	n/a
e)	Date of the transaction	27 May 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Kevin Finn
2	Reason for the notification
a)	Position/status	Non-Executive Chairman
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	SRT Marine Systems Plc
b)	LEI	2138002DF3KFXL472938
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 Ordinary Shares of 0.1p each  GB00B0M8KM36
b)	Nature of the transaction	Issue of options over ordinary shares of 0.1p each
c)	Price(s) and volume(s)	Price(s) Volume(s) 32.5p exercise price 1,000,000
d)	Aggregated information - Aggregated volume - Price	n/a
e)	Date of the transaction	27 May 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Simon Barrell
2	Reason for the notification
a)	Position/status	Non-Executive Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	SRT Marine Systems Plc
b)	LEI	2138002DF3KFXL472938
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 Ordinary Shares of 0.1p each  GB00B0M8KM36
b)	Nature of the transaction	Issue of options over ordinary shares of 0.1p each
c)	Price(s) and volume(s)	Price(s) Volume(s) 32.5p exercise price 300,000
d)	Aggregated information - Aggregated volume - Price	n/a
e)	Date of the transaction	27 May 2020
f)	Place of the transaction	Outside a trading venue

 

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