Award of Options

RNS Number : 8891H

FireAngel Safety Technology Group

05 August 2019

 

5 August 2019

FireAngel Safety Technology Group plc 

('FireAngel', the 'Group' or the 'Company')

Award of Options under Share Plan

PDMR shareholdings

FireAngel (AIM: FA.), one of Europe's leading developers and suppliers of home safety products, announces that on 2 August 2019 it made awards over a total of 3,390,000 FireAngel Safety Technology Group plc ordinary shares of 2p each (the 'Shares') to certain directors and senior managers employed within the Group, under its Long-Term Incentive Plan ('LTIP').

Under the LTIP, awards were made to the following Persons Discharging Managerial Responsibility ('PDMRs'):

Name	Position	Status	LTIP award (number of Shares)
Directors
John Conoley	Executive Chairman	Director and PDMR	1,500,000
Nick Rutter	Chief Product Officer	Director and PDMR	250,000
Mike Stilwell	Group Finance Director	Director and PDMR	750,000
Senior Managers
Adam Devey	Business Unit Director	PDMR	100,000
Zoe Fox	Finance Director	PDMR	100,000
Andy Gregg	Operations Director	PDMR	100,000
James King	Business Unit Director	PDMR	100,000
Rene Nolten	Business Unit Director	PDMR	100,000
Claire Pickard	Business Unit Director	PDMR	100,000

Following the awards, the total interests of each of the PDMRs referred to above in Shares is as follows:

Name	Ordinary shares held	Interest in shares in share schemes	Resultant total interest	% of issued share capital
Directors
John Conoley	61,181	1,500,000	1,561,181	2.06%
Nick Rutter	3,800,000	375,000	4,175,000	5.50%
Mike Stilwell	55,538	750,000	805,538	1.06%
Senior Managers
Adam Devey	5,558	100,000	105,558	0.14%
Zoe Fox	-	131,944	131,944	0.17%
Andy Gregg	-	100,000	100,000	0.13%
James King	-	118,333	118,333	0.16%
Rene Nolten	-	125,000	125,000	0.16%
Claire Pickard	82,500	100,000	182,500	0.24%

Under the LTIP, selected employees are entitled to exercise an option to receive a certain number of Shares at any time after a three-year vesting period, at a cost to the employee of the nominal value of the Shares.  The number of Shares that are awarded at the end of the three-year period is dependent on the achievement of certain performance criteria.

Vesting of the LTIP awards is dependent on achievement of total shareholder return ('TSR').  If TSR on Shares is 200% or more at the end of three years following the award, all of the Shares awarded will vest.  If TSR is 100%, then 25% of the awarded Shares will vest.  Between these points the number of Shares that vest will be pro-rata.  If TSR is less than 100% then no Shares will vest.  The limit on the number of Shares over which interests may be awarded remains unchanged.

Any entitlement under the LTIP will lapse on cessation of employment prior to the end of the three-year vesting period, unless cessation of employment is by reason of redundancy, ill health or death.

In addition to these awards, it is the intention of the Remuneration Committee to implement a share matching scheme for executive directors and PDMRs for shares acquired within a year of any fundraising event.

For further information, please contact:

FireAngel Safety Technology Group plc	024 7771 7700
John Conoley, Executive Chairman
Mike Stilwell, Group Finance Director Shore Capital (Nominated adviser and broker)	020 7408 4050
Tom Griffiths

Notes to Editors

About FireAngel Safety Technology Group plc

FireAngel's mission is to protect, save and improve our customers' lives by making innovative, leading edge technology simple and accessible.  FireAngel is one of the market leaders in the European home safety products market.

FireAngel's principal products are smoke alarms, CO alarms, heat alarms and accessories.  The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories.  Products are sold under FireAngel's leading brands of FireAngel, FireAngel Pro, AngelEye and FireAngel Connect. 

For further product information, please visit: www.fireangeltech.com  

 

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