Award of Options

RNS Number : 4068Z

Microgen PLC

31 August 2018

 

31 August 2018

Microgen Plc (the "Company")

Grant of awards under the Company's Performance Share Plan 2016 ("PSP")

On 30 August 2018 Microgen Plc granted awards in the form of options over ordinary shares ("Ordinary Shares") under the PSP to the following Directors. Each option has an exercise price per Ordinary Share equal to the nominal value of an Ordinary Share.

Director	Number of Ordinary Shares over which award granted
SIMON BAINES	46,289
TOM CRAWFORD	57,087
PHILIP WOOD	49,799

Each award has been granted subject to performance conditions based on stretching targets relating to growth in Earnings Per Share over performance period of three financial years starting with 2018 (as regards 50% of each award) and the Company's Total Shareholder Return over the same performance period relative to the TSRs of the constituents of the FTSE SmallCap Index (excluding investment trusts) (as regards 50% of each award), as set out below. 

EPS element

Annual compound growth in EPS	Percentage of the EPS element that vests
10%	25%
Greater than 10% but less than 12%	Determined on a straight line basis between 25% and 100%
12% or greater than 12%	100%

TSR element

Rank of the Company's TSR against the Comparator Group	Percentage of the TSR element that vests
Median	25%
Between upper quartile and median	Determined on a straight line basis between 25% and 100%
Upper quartile or above	100%

Each award is subject to a further performance condition that the extent of vesting reflects the overall financial performance of the Company over the performance period. 

Each award will, ordinarily, vest on the second anniversary of the date on which the Company's Remuneration Committee determines the extent to which the performance conditions have been satisfied.

 

Notification and public disclosure of transactions by PDMRs and persons closely associated with them

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	(i) Simon Baines (ii) Tom Crawford (iii) Philip Wood
2.	Reason for the notification
a)	Position / status	(i) Executive Director (CEO, Microgen Financial Systems) (ii) Executive Director (CEO, Aptitude Software) (iii) Executive Director (Chief Financial Officer)
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Microgen Plc
b)	LEI	2138009VHA1WI2VKMA28
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 6 3/7 pence each
b)	Identification code	GB00BVVHWX30
c)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's Performance Share Plan 2016
d)	Price(s) and volume(s)	Name Price(s) Volume(s) Simon Baines N/A 46,289 Tom Crawford N/A 57,087 Philip Wood N/A 49,799
e)	Aggregated information -     Volume -     Price	N/A
f)	Date of the transaction	30 August 2018
g)	Place of the transaction	Outside a trading venue

Name of contact:                        MARK HEATHER, COMPANY SECRETARY

Address of contact:                    OLD CHANGE HOUSE, 128 QUEEN VICTORIA STREET, LONDON, EC4V 4BJ

Telephone number of contact:     020 7496 8100

www.microgen.com

 

END

 

 

DSHEANPFDFLPEEF