Grant of Options

RNS Number : 4070V

Tracsis PLC

03 December 2019

 

3 December 2019

Tracsis plc

("Tracsis" or the "Group")

              Grant of options

Tracsis announces that, following a meeting of the Group's remuneration committee on 20 November 2019, it formally granted 38,961 share options on 2 December 2019 to Chris Barnes, Chief Executive Officer.

This award is part of Tracsis' Long Term Incentive Plan (LTIP) and is designed to retain and motivate Executive Directors whilst at the same time setting challenging performance targets that are specifically aligned with the Group's strategic goals and shareholder interests.

The options awarded have an exercise price of 0.4p and are directly linked to performance targets based on Group profitability and Total Shareholder Return relative to an AIM peer group determined by Tracsis' remuneration committee.

Full award is only exercisable should statutory diluted Earnings Per Share (EPS) for the year ending 31 July 2022 be at least 25.92p, and Total Shareholder Return (TSR) versus AIM peer group is in the top quartile.  Were statutory diluted EPS for the year ending 31 July 2022 to be less than 22.92p, and TSR versus the peer group is less than the median, no options will be exercisable.  For scenarios between the above range, the options will be exercisable on a straight-line sliding scale basis.

The resulting interests of Chris Barnes in Tracsis plc can be summarised as follows:

	Ordinary shares of 0.4p held	% of issued share capital	LTIP Options held prior to this award	LTIP Options awarded	LTIP Options after this award
Chris Barnes	-	-	21,417	38,961	60,378

Enquiries:

Tracsis plc                                                                                                                                              Tel: [phone]

Chris Barnes, CEO

Max Cawthra, CFO

finnCap Ltd                                                                                                                                           Tel: [phone]

Christopher Raggett/Scott Mathieson, Corporate Finance

Andrew Burdis, Corporate Broking

Notes to editors: 

·    Tracsis plc is a technology company and a leading provider of software and hardware products, data capture and data analytic services for the rail, traffic data and wider transport industries.

·    Tracsis' products and services are widely used to increase efficiency, reduce cost and risk and improve operational and asset performance, safety management and decision-making capabilities for clients and customers. 

·    The Group is split into two principle operating areas built around detailed industry knowledge and expertise:

-  Rail Technology & Services:  Software and technology led business supported by consultancy. Develops remote condition monitoring hardware and safety, productivity improvement, risk management and data acquisition software for rail infrastructure providers and software that solves complex resource, asset optimisation and control problems for Train Operators.

-  Traffic & Data Services: A largely services led business that focuses on data capture, data analytics, data insights and event traffic management within transport and pedestrian rich environments.  The business provides technology and data that underpins large scale intelligent transport system and smart city planning and decision making.

·    Tracsis has a blue-chip client base which includes all major UK transport owning Groups.  The business also works extensively with Network Rail, the Department of Transport, TfL, multiple local authorities, major outdoor music and sporting event organisers, and a wide variety of large engineering and infrastructure companies.

·    The business drives growth both organically and through acquisition and has made thirteen acquisitions since 2008.

·    For more information on Tracsis please visit http://www.tracsis.com

The information communicated in this announcement is inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 

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