Grant of Options

RNS Number : 1402B

Arcontech Group PLC

05 October 2020

 

ARCONTECH GROUP PLC

("Arcontech" or the "Company")

Grant of Options

Arcontech (AIM: ARC), the provider of products and services for real-time financial market data processing and trading, announces that on 2 October 2020 it granted a total of 155,000 options ("Options") over ordinary shares of £0.125 in the Company ("Ordinary Shares") under the Company's EMI and non EMI schemes to various employees.

Options were granted to the following persons disclosing managerial responsibility ("PDMRs"): Matthew Jeffs (Chief Executive), Geoff Wicks (Non-Executive Chairman), Ben Hodges (Finance Director) and Darren Lewis (Head of Development).

The Options have been granted at a price of 164.5p pence per Ordinary Share, being the closing mid-market price of an Ordinary Share on 2 October 2020. They will be exercisable from 30 June 2023.

For Matthew Jeffs and Darren Lewis, the Options will vest subject to the Company's compound annual rate of growth in fully diluted earnings* for the three financial years ending 30 June 2023, subject to performance criteria as follows:

-  compound annual earnings growth of 10% or more - fully vested (100%);

-  compound annual earnings growth between 5%-10% - partial vesting between 0% and 100% on a sliding scale; and

-  compound annual earnings growth of 5% and below - nil.

Dependent on the performance criteria above being achieved, the maximum number of Options that will vest and become exercisable is as follows:

Director/PDMR	Number of Options
Matthew Jeffs	50,000
Darren Lewis	20,000

Geoff Wicks has been granted 30,000 Options that are not subject to performance criteria. Ben Hodges has been granted 10,000 Options that are not subject to performance criteria. The 45,000 Options granted to non-PDMR employees are also not subject to performance criteria.

Any Ordinary Shares arising from the vesting of Options must be held for a period of two years.

Following this grant, there are a total of 657,618 options outstanding, representing approximately 4.9% of the current issued share capital of the Company.

Further detail is set out in the PDMR disclosure tables below.

* Fully diluted earnings will be based on: (a) the Company's pre-tax profit excluding exceptional items and the share option charge and (b) the current UK corporation tax rate of 19%, such that the fully diluted earnings calculation takes no account of R&D and deferred tax credits. For the purposes of the fully diluted earnings calculation, the applied rate of corporation tax will remain constant at 19% irrespective of any current or future changes to corporation tax.

Enquiries:
Arcontech Group plc	020 7256 2300
Geoff Wicks,  Chairman and Non-Executive Director
Matthew Jeffs,  Chief Executive
finnCap Ltd (Nomad & Broker)
Carl Holmes/Simon Hicks	020 7220 0500
To access more information on the Group please visit:   www.arcontech.com

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	Matthew Jeffs
2.	Reason for the Notification
a)	Position/status	Chief Executive
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Arcontech Group Plc
b)	LEI	213800O7PM9V79TP7523
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	Options over Ordinary Shares of £0.125
	Identification code	ARC GB00BDBBJZ03
b)	Nature of the transactions	Grant of Options over Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 164.5p 50,000
d)	Aggregated information: · Aggregated volumes · Prices	See 4(c) above
e)	Date of the transaction	2 October 2020
f)	Place of the transaction	Off market transaction

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Geoff Wicks
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	Arcontech Group Plc
b)	LEI	213800O7PM9V79TP7523
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	Options over Ordinary Shares of £0.125
	Identification code	ARC GB00BDBBJZ03
b)	Nature of the transactions	Grant of Options over Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 164.5p 30,000
d)	Aggregated information: · Aggregated volumes · Prices	See 4(c) above
e)	Date of the transaction	2 October 2020
f)	Place of the transaction	Off market transaction

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Darren Lewis
2.	Reason for the Notification
a)	Position/status	Head of Development
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Arcontech Group Plc
b)	LEI	213800O7PM9V79TP7523
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	Options over Ordinary Shares of £0.125
	Identification code	ARC GB00BDBBJZ03
b)	Nature of the transactions	Grant of Options over Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 164.5p 20,000
d)	Aggregated information: · Aggregated volumes · Prices	See 4(c) above
e)	Date of the transaction	2 October 2020
f)	Place of the transaction	Off market transaction

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	B en Hodges
2.	Reason for the Notification
a)	Position/status	Finance Director
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Arcontech Group Plc
b)	LEI	213800O7PM9V79TP7523
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	Options over Ordinary Shares of £0.125
	Identification code	ARC GB00BDBBJZ03
b)	Nature of the transactions	Grant of Options over Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 164.5p 10,000
d)	Aggregated information: · Aggregated volumes · Prices	See 4(c) above
e)	Date of the transaction	2 October 2020
f)	Place of the transaction	Off market transaction

 

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