Grant of Options

Eleco PLC

06 June 2024

 

6 June 2024

Eleco Plc

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

Grant of Options

Eleco plc (AIM: ELCO), the specialist software provider for the built environment, announces that on 5 June 2024 the Board of Eleco, following the recommendation from the Remuneration Committee, granted a total of 500,000 new share options (the "Options") over ordinary shares of 1 pence each ("Ordinary Shares") in the Company to certain directors and PDMRs.

Following this grant of Options, Eleco has 4,005,000 options in issue, representing approximately 4.81 per cent. of the Company's issued share capital.

250,000 Options were granted to Jonathan Hunter, CEO, and 200,000 Options were granted to Neil Pritchard, CFO. All of these Options are nominal cost options that shall vest after 3 years if certain performance criteria related to growth in revenue, profit and share price are met. To fully vest, Eleco will need to deliver significant growth from current levels.

The remaining 50,000 Options were granted to Mark Chapman, PDMR, and are market priced options with no vesting criteria other than to remain in employment by the Group and shall vest after 3 years. These Options are exercisable at 117 pence.

Director/PDMR	Options issued on 5 June 2024	Total options held post issue
Jonathan Hunter	250,000	1,225,000
Neil Pritchard	200,000	475,000
Mark Chapman	50,000	110,000

The Options are issued under the Eleco 2014 Share Option Plan and are exercisable up to 5 June 2034, subject to the achievement of the appropriate performance criteria.

Enquiries:

Eleco plc	[phone]
Jonathan Hunter, Chief Executive Officer
Neil Pritchard, Chief Financial Officer
Cavendish Capital Markets Limited	[phone]
Geoff Nash / Emily Watts / Seamus Fricker (Corporate Finance)
Louise Talbot / Tim Redfern / Harriet Ward (ECM)

About Eleco plc

Eleco plc is an AIM-listed (AIM: ELCO) specialist international provider of software and related services to the built environment through its operating brands Elecosoft, BestOutcome, Vertical Digital and Veeuze from centres of excellence in the UK, Sweden, Germany, the Netherlands, Romania and the USA.

The Company's software solutions are trusted by international customers and used throughout the building lifecycle from early planning and design stages to construction, interior fit out, asset management and facilities management to support project management, estimation, visualisation, Building Information Modelling (BIM) and property management.

For further information please visit www.eleco.com.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1.	Details of PDMR / person closely associated with them ('PCA')
a)	Name	Jonathan Hunter
2.	Reason for the Notification
a)	Position / status	Chief Executive Officer
b)	Initial notification /amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Eleco plc
b)	LEI	21380016GT9Z6ZQX4T37
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 1p each
	Identification code	GB0003081246
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Exercise price of 1p	250,000
d)	Aggregated information: Aggregated volume Price	n/a
e)	Date of the transaction	5 June 2024
f)	Place of the transaction	Outside of a trading venue

1.	Details of PDMR / person closely associated with them ('PCA')
a)	Name	Neil Pritchard
2.	Reason for the Notification
a)	Position / status	Chief Financial Officer
b)	Initial notification /amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Eleco plc
b)	LEI	21380016GT9Z6ZQX4T37
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 1p each
	Identification code	GB0003081246
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Exercise price of 1p	200,000
d)	Aggregated information: Aggregated volume Price	n/a
e)	Date of the transaction	5 June 2024
f)	Place of the transaction	Outside of a trading venue

1.	Details of PDMR / person closely associated with them ('PCA')
a)	Name	Mark Chapman
2.	Reason for the Notification
a)	Position / status	Head of Innovation / PDMR
b)	Initial notification /amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Eleco plc
b)	LEI	21380016GT9Z6ZQX4T37
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 1p each
	Identification code	GB0003081246
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Exercise price of 117p	50,000
d)	Aggregated information: Aggregated volume Price	n/a
e)	Date of the transaction	5 June 2024
f)	Place of the transaction	Outside of a trading venue

 

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