Grant of Options under Retention Plan

RNS Number : 7615W
Tekmar Group PLC
21 August 2020
 

 

21 August 2020

 

Tekmar Group plc

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

 

Grant of options under Retention Plan

Tekmar Group plc a leading provider of technology and services for the global offshore energy markets, announces that the Group's Remuneration Committee has approved a new share option incentive plan, the Retention Plan, to further incentivise the executive management team.  The team have been granted awards for up to 200,000 ordinary shares of £0.01 each in the Company ("Shares"), being awarded based on length of service.  The award comprises 100,000 Shares being foregone by James Ritchie under the IPO Incentive Plan, reducing the maximum number he could acquire from 225,000 Shares to 125,000 Shares.  An additional 100,000 Shares will be made available by the Company.

 

The following Persons Discharging Managerial Responsibility ("PDMRs") have been granted options:

 

Name

Position

Number of Retention options granted

Total number of options over Ordinary Shares

Total interest in Ordinary Shares (No.)

Total interest in Ordinary Shares (%)

Alasdair MacDonald

 

Executive Chairman Tekmar Group plc

17,073

17,073

434,526

0.85%

Susan Hurst

Chief Financial Officer

Tekmar Group plc

 

43,042

491,292

276,569

0.54%

Russell Edmondson

 

Managing Director Tekmar Energy Ltd

43,042

 

278,090

 

197,686

 

0.39%

 

Jack Simpson

Sales Director

Tekmar Energy Limited

 

53,802

229,224

195,009

0.38%

Steven Rossiter

Chief Technology Officer

Tekmar Group plc

 

32,281

215,291

102,564

0.20%

David Thompson

Managing Director

Subsea Innovation Limited

10,760

 

217,872

0

0

 

Conditions

 

Shares will not be made available under the Retention Plan until on or after 1st June 2021 at which point individuals will be entitled to acquire shares provided that:

 

a.  they remain employed at the date of acquisition; and

b.  during the period to 31 May 2021, they do not, otherwise than with the agreement of the board, sell, or other dispose of, any Shares (save, in the case of the employees other than Alasdair MacDonald and David Thompson, to meet any resulting tax liability if they exercise their rights to acquire Shares under the Company's IPO Incentive Plan).

 

The relevant notification set out below is provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.

 

1

Details of the person discharging managerial responsibility / person closely associated

a)

 Name

Alasdair MacDonald

2

Reason for the notification

a)

Position/status

Executive Chairman, Tekmar Group plc

b)

Initial notification/amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

 Tekmar Group plc

b)

LEI

213800839UQKQTV33E71

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

Ordinary shares of 0.01p each

Identification code

GB00BDFGGK53

b)

Nature of transaction

Grant of options under the Retention Plan

c)

Price(s) and volume(s)

Price(s)

 Volume(s)

Nil

 17073

d)

Aggregated information


Aggregated volume

NA


Price

NA

e)

Date of transaction

20/08/2020

f)

Place of transaction

Outside a trading venue

 

 

1

Details of the person discharging managerial responsibility / person closely associated

a)

 Name

 Susan Hurst

2

Reason for the notification

a)

Position/status

Chief Financial Officer, Tekmar Group plc

b)

Initial notification/amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

 Tekmar Group plc

b)

LEI

213800839UQKQTV33E71

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

Ordinary shares of 0.01p each

Identification code

GB00BDFGGK53

b)

Nature of transaction

Grant of options under the Retention Plan

c)

Price(s) and volume(s)

Price(s)

 Volume(s)

Nil

 43042

d)

Aggregated information


Aggregated volume

NA


Price

NA

e)

Date of transaction

20/08/2020

f)

Place of transaction

Outside a trading venue

 

 

1

Details of the person discharging managerial responsibility / person closely associated

a)

 Name

 Russell Edmondson

2

Reason for the notification

a)

Position/status

Managing Director, Tekmar Energy Limited

b)

Initial notification/amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

 Tekmar Group plc

b)

LEI

213800839UQKQTV33E71

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

Ordinary shares of 0.01p each

Identification code

GB00BDFGGK53

b)

Nature of transaction

Grant of options under the Retention Plan

c)

Price(s) and volume(s)

Price(s)

 Volume(s)

Nil

 43042

d)

Aggregated information


Aggregated volume

NA


Price

NA

e)

Date of transaction

20/08/2020

f)

Place of transaction

Outside a trading venue

1

Details of the person discharging managerial responsibility / person closely associated

a)

 Name

 Jack Simpson

2

Reason for the notification

a)

Position/status

Sales Director, Tekmar Energy Limited

b)

Initial notification/amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

 Tekmar Group plc

b)

LEI

213800839UQKQTV33E71

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

Ordinary shares of 0.01p each

Identification code

GB00BDFGGK53

b)

Nature of transaction

Grant of options under the Retention Plan

c)

Price(s) and volume(s)

Price(s)

 Volume(s)

Nil

 53802

d)

Aggregated information


Aggregated volume

NA


Price

NA

e)

Date of transaction

20/08/2020

f)

Place of transaction

Outside a trading venue

1

Details of the person discharging managerial responsibility / person closely associated

a)

 Name

 Steven Rossiter

2

Reason for the notification

a)

Position/status

Chief Technology Officer, Tekmar Group plc

b)

Initial notification/amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

 Tekmar Group plc

b)

LEI

213800839UQKQTV33E71

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

Ordinary shares of 0.01p each

Identification code

GB00BDFGGK53

b)

Nature of transaction

Grant of options under the Retention Plan

c)

Price(s) and volume(s)

Price(s)

 Volume(s)

Nil

 32281

d)

Aggregated information


Aggregated volume

NA


Price

NA

e)

Date of transaction

20/08/2020

f)

Place of transaction

Outside a trading venue

 

 

 

1

Details of the person discharging managerial responsibility / person closely associated

a)

 Name

David Thompson

2

Reason for the notification

a)

Position/status

Managing Director, Subsea Innovation Limited

b)

Initial notification/amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

 Tekmar Group plc

b)

LEI

213800839UQKQTV33E71

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

Ordinary shares of 0.01p each

Identification code

GB00BDFGGK53

b)

Nature of transaction

Grant of options under the Retention Plan

c)

Price(s) and volume(s)

Price(s)

 Volume(s)

Nil

 10760

d)

Aggregated information


Aggregated volume

NA


Price

NA

e)

Date of transaction

20/08/2020

f)

Place of transaction

Outside a trading venue

 

Enquiries:

 

Tekmar Group plc

Ally MacDonald, Executive Chairman

Sue Hurst, Chief Financial Officer

 

+44 (0)1325 379 520

Grant Thornton UK LLP (Nominated Adviser)

Philip Secrett / Jen Clarke

 

+44 (0)20 7383 5100

Berenberg (Broker)

Chris Bowman / Ben Wright / Richard Salmond

 

+44 (0)20 3207 7800

Belvedere Communications (Financial PR)

Cat Valentine

Keeley Clarke

TekmarPR@belvederepr.com

+44 (0) 7715 769 078

+44 (0) 7967 816 525

 

 

About Tekmar Group plc  -  www.tekmargroup.com

 

Tekmar Group plc's vision is to be the leading provider of technology and services for the global offshore energy markets. The Group has five primary operating companies; these are Tekmar Energy Limited, Subsea Innovation Limited, AgileTek Engineering Limited, Ryder Geotechnical Limited and Pipeshield International limited.

 

Tekmar Energy is a global market leader in protection systems for subsea cable, umbilical and flexible pipe. Tekmar Energy has been trusted to protect billions of Euros worth of assets in the offshore wind, oil & gas, wave, tidal and interconnector markets since 1985.

 

Subsea Innovation is a global leader in the design, manufacture and supply of complex engineered equipment and technology used in the offshore energy market. Its products include large equipment handling systems which operate on the back of pipelay installation vessels; emergency pipeline repair clamps (EPRC) which protect major oil and gas pipelines, and bespoke equipment for use in the construction of offshore energy projects.

 

AgileTek Engineering is an award-winning subsea engineering consultancy for offshore energy projects. AgileTek helps its clients de-risk projects through advanced computer simulation and analysis.  AgileDat, a division of AgileTek, provides software development, cloud architecture and data analytics services. 

 

Ryder Geotechnical provides expert geotechnical design and consulting services to the offshore wind and subsea oil and gas sectors. Services include offshore structure foundation design, geohazard assessment and subsea cable routing and burial assessment.

 

Pipeshield International is a market leading provider of specialised subsea protection solutions in the form of concrete mattresses used for the stabilisation and impact protection of subsea equipment in areas where they cannot be buried and further to limit the development of scour (seabed erosion) particularly local to that of a foundation, pipeline or in marine ports.

 

Tekmar Energy and Tekmar Group plc are headquartered in Newton Aycliffe in the United Kingdom; AgileTek operates from an office in London; Subsea Innovation has its head office and manufacturing centre in Darlington, United Kingdom. Ryder operates in Newcastle and within AgileTek London, Pipeshield headquarters are in Lowestoft with manufacturing in Blyth. Tekmar Group plc also has strategic bases and representation across Europe, Africa, the Middle East and Asia Pacific.

 

 


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