Director/PDMR Shareholding

RNS Number : 3665Y

Synectics PLC

02 March 2017

 

2 March 2017

Synectics plc

(the "Company" or the "Group")

Award of Options under Share Plan

Director / PDMR shareholdings

Synectics (AIM: SNX), a leader in the design, integration, control and management of advanced surveillance technology and networked security systems, announces that on 1 March 2017 it made awards over 88,500 Synectics plc ordinary shares of 20p (the "Shares") to certain senior managers employed within the Group, under its Performance Share Plan ("PSP").

Under the PSP award, awards were made to the following Directors and Persons Discharging Managerial Responsibility (PDMRs):

Name	Position	Status	PSP award (number of Shares)
Paul Webb	Chief Executive, Synectics plc	Executive Director	15,000
Mike Stilwell	Finance Director, Synectics plc	Executive Director	7,500
David Aindow	Product & Technology Director, Synectic Systems Group Limited	PDMR	5,000
Greg Alcorn	Divisional Director, Transport & Infrastructure, Synectic Systems Group Limited	PDMR	10,000
Darren Alder	Divisional Director, Oil & Gas, Synectic Systems Group Limited	PDMR	5,000
Iain Beadle	Managing Director, Quadrant Security Group Limited	PDMR	5,000
Richard Brierley	Company Secretary, Synectics plc	PDMR	2,000
Jeffrey Fail	Managing Director, Synectics Mobile Systems	PDMR	4,000
Andrew Wycherley	Operations Director, Synectic Systems Group Limited	PDMR	2,000

Following the awards, their total interests in Shares are now as follows:

Name	Shares held	Interest in Shares in Synectics share schemes	Resultant total interest	% of issued share capital
Paul Webb	10,000	299,924	309,924	1.74%
Mike Stilwell	6,910	50,224	57,134	0.32%
David Aindow	-	53,000	53,000	0.30%
Greg Alcorn	-	10,000	10,000	0.06%
Darren Alder	-	22,500	22,500	0.13%
Iain Beadle	-	52,500	52,500	0.30%
Richard Brierley	-	6,000	6,000	0.03%
Jeffrey Fail	-	44,000	44,000	0.25%
Andrew Wycherley	-	7,000	7,000	0.04%

Under the PSP, selected employees are entitled to exercise an option to receive a certain number of Shares at any time after a 3 year vesting period, at no cost to themselves. The number of Shares that are awarded at the end of the 3 year period is dependent on the achievement of certain performance criteria.

Vesting of the PSP awards is dependent on the total return on Shares compared with the AIM All Share Total Return Index (the "Index"). If the total return on Shares out-performs the Index by 5% or more in the 3 years following the award, all of the Shares awarded will vest.  If Shares match the Index performance, then 25% of the awarded Shares will vest. Between these points the number of Shares that vest will be pro-rata. If the total return on Shares underperforms the Index, then no Shares will vest. The limit on the number of Shares over which interests may be awarded remains unchanged.

Any entitlement under the PSP will lapse on cessation of employment prior to the end of the 3 year vesting period, unless cessation of employment is by reason of redundancy, ill health or death.

Should the performance criteria be met in full or part, it is intended that the appropriate number of Shares will be satisfied from unallocated Shares already held within the Company's employee benefit trust.

Full details of the PSP were set out in the Company's Annual Report for the year ended 30 November 2015.

For further information, please contact:

Synectics plc	Tel: [phone]
Richard Brierley, Company Secretary	www.synecticsplc.com
Stockdale Securities	Tel: [phone]
Tom Griffiths / Henry Willcocks

 

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