Grant of Options

RNS Number : 0572Z

Mercia Technologies PLC

29 August 2018

 

For immediate release

29 August 2018

Mercia Technologies PLC

("Mercia" or the "Company")

Grant of Options  

Mercia Technologies PLC (AIM: MERC), the national investment group focused on the identification, creation, funding and scaling of innovative technology businesses with high growth potential from the UK regions, announces that options (the "Options") over a total of 4,689,000 new Ordinary shares with a nominal value of 0.001p each in the capital of the Company ("Ordinary Shares") were awarded yesterday pursuant to the 2014 Mercia Company Share Option Plan at an exercise price of 30.80p per Ordinary Share (being the closing mid-market price of an Ordinary Share on 28 August 2018). The Options will, subject to the satisfaction of the performance condition, vest in three equal tranches on the third, fourth and fifth anniversary of the date of grant of the Options.

The Options represent, in aggregate, 1.55% of the existing Ordinary share capital of the Company and have been issued to a number of employees of the Company, including all three Executive Directors and three further persons discharging managerial responsibilities ("PDMRs"). 

Following these grants, the Company has a total of 14,851,000 unvested options pursuant to the 2014 Mercia Company Share Option Plan, equating to approximately 4.90% of the existing issued Ordinary share capital of the Company.

Following the grant of these Options, PDMRs hold the following Ordinary Shares and options:

Name	Role	Grant of Options over Ordinary Shares	Total number of options over Ordinary Shares	Interest in existing issued Ordinary Shares
Dr. Mark Payton	Chief Executive Officer	400,000	2,200,000	6,655,472
Martin Glanfield	Chief Financial Officer	400,000	2,200,000	293,369
Julian Viggars	Chief Investment Officer	1,200,000	1,600,000	424,325*
Peter Dines	PDMR	600,000	600,000	45,551
John Simpson	PDMR	200,000	450,000	754,997
Ceri Bailey	PDMR	100,000	100,000	21,739

*Including 75,000 Ordinary Shares held by Mrs Emma Viggars.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by person discharging managerial responsibilities.

1	Details of the persons discharging managerial responsibilities/person closely associated
a)	Name	(i) Dr. Mark Payton - Chief Executive Officer (ii) Martin Glanfield - Chief Financial Officer (iii) Julian Viggars - Chief Investment Officer (iv) Peter Dines - PDMR (v) John Simpson - PDMR (vi) Ceri Bailey - PDMR
2	Reason for the notification
a)	Position/status	Executive Directors and PDMRs of the Company
b)	Initial Notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mercia Technologies PLC
b)	Legal Entity Identifier	213800A1Q4CF57NECG66
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 Identification code	Ordinary shares of 0.001 pence each ISIN: GB00BSL71W47
b)	Nature of the transaction	Grant of options
c)	Currency	GBP
d)	Price(s) and volume(s)	Exercise Price	No. of shares
		£0.3080	(i) 400,000
		£0.3080	(ii) 400,000
		£0.3080	(iii) 1,200,000
		£0.3080	(iv) 600,000
		£0.3080	(v) 200,000
		£0.3080	(vi) 100,000
e)	Aggregated information - Aggregated volume - Price - Aggregated total	N/A - single transactions
f)	Date of the transaction	28 August 2018
g)	Place of the transaction	Outside a trading venue

For further information, please contact:

Mercia Technologies PLC Mark Payton, Chief Executive Officer Martin Glanfield, Chief Financial Officer www.merciatech.co.uk	[phone]
Cenkos Securities plc Stephen Keys (NOMAD and Joint Broker)	[phone]
Canaccord Genuity Limited Simon Bridges, Emma Gabriel (Joint Broker) Buchanan Bobby Morse, Chris Lane, Stephanie Watson www.buchanan.uk.com	[phone] [phone]

About Mercia Technologies PLC

Mercia is a national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions. Mercia benefits from 19 university partnerships and offices across the Midlands, the North of England and Scotland providing it with access to high quality, regional deal flow. Mercia Technologies PLC is quoted on AIM with the epic "MERC".

Mercia's 'Complete Capital Solution' initially nurtures businesses via its third-party funds (now with circa £400million under management following recent mandate wins) and then over time Mercia can provide further funding to its 'Emerging Stars' by deploying direct investment follow-on capital from its own balance sheet. Since its IPO in December 2014, Mercia has invested over £63million directly across its portfolio of Emerging Stars.

 

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