Director/PDMR Shareholding

RNS Number : 4046E

Nanoco Group PLC

27 October 2022

 

27 October 2022

NANOCO GROUP PLC

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

NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY

Nanoco (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from our technology platform, announces that on 27 October 2022, nil-cost options over ordinary shares of 10 pence each in the Company ("Ordinary Shares") were granted under the Nanoco 2015 Deferred Bonus Plan (the "DBP") to the executive directors and staff as noted below:

Name of Director / PDMR	Number of options granted
Brian Tenner (CEO - Director)	649,072
Nigel Pickett (CTO - Director)	501,421
Liam Gray (CFO - Director)	253,161
Other non-disclosable staff	91,962
Total number of options granted	1,495,616

The number of options awarded has been calculated in accordance with the scheme rules by reference to the average closing mid-market share price for the three days after the announcement of the Group's results for the year ending 31 July 2022. This was 36.67 pence. The DBP options are subject to a two year holding period and ordinarily will vest following the announcement of Nanoco's results for its financial year ending 31 July 2024. There are no further performance conditions for the DBP options.

Additionally, on 27 October 2022 Nanoco Group plc ("Nanoco") granted nil-cost options over ordinary shares of 10 pence each in the Company under the Nanoco Group 2015 Long Term Incentive Plan (the "LTIP") to the executive directors and staff as noted below.

Name of Director / PDMR	Number of options granted	Resulting total [1]
Brian Tenner (CEO - Director)	1,192,716	7,600,818
Nigel Pickett (CTO - Director)	848,780	6,480,968
Liam Gray (CFO - Director)	607,201	2,239,173
Other non-disclosable staff	1,170,577
Total number of options granted	3,819,274

The number of options awarded has been calculated in accordance with the scheme rules by reference to the average closing mid-market share price for the three days after the announcement of the Group's results for the year ending 31 July 2022. This was 36.67 pence.

The vesting of the LTIP options is subject to the achievement of two performance conditions. Fifty percent (50%) will vest depending on absolute total shareholder return ("Absolute TSR") over the three year performance period ending 31 July 2025. Fifty percent (50%) will vest depending on growth in the Company's revenue over the three year performance period ending 31 July 2025.

The target for Absolute TSR is also expressed as an equivalent compound annual growth rate ('CAGR') compared to the average of the closing mid-market price of the Company's shares for the three months before the Group's annual results for the year ending 31 July 2022 (as announced on 20 October 2022 and in accordance with the rules of the scheme). The targets for Absolute TSR are set out in the table below:

Range	Share price (equivalent CAGR (%))	Proportion of award that will vest
Below threshold	Less than 55 pence (<15%)	Nil
Threshold	55 pence (15%)	25%
Target	62 pence (20%)	60%
Maximum	70 pence (25%)	100%

Given the Group is entering a new stage in its development, the Directors consider that the revenue targets are commercially sensitive and hence are not being disclosed at this time. However, in order to maintain transparency, the targets will be disclosed at the same time as the actual outcome is assessed following the end of the performance period.

Ordinarily, the LTIP options will vest (subject to the achievement of the performance conditions) following the announcement of Nanoco's results for its financial year ending 31 July 2025. The options are then subject to an additional two year holding period. This notification is made pursuant to Disclosure and Transparency Rule 3.1.4.

For further information please contact:

Liam Gray

Chief Financial Officer and Company Secretary

Telephone : [phone]

Notes for editors:

About Nanoco Group plc

Nanoco (LSE: NANO) harnesses the power of nano-materials. Nano-materials are materials with dimensions typically in the range 1 - 100 nm. Nano-materials have a range of useful properties, including optical and electronic. Quantum dots are a subclass of nano-material that have size-dependent optical and electronic properties. The Group produces quantum dots and other nano-materials. Within the sphere of quantum dots, the Group exploits different characteristics of the quantum dots to target different performance criteria that are attractive to specific markets or end-user applications such as the Display, Sensor and Electronics markets. An interesting property of quantum dots is size-tunable absorption spectrum. Nanoco's HEATWAVE™ quantum dots can be tuned to absorb light at different wavelengths across the near-infrared spectrum, rendering them useful for applications including image sensors. Another interesting property of quantum dots is photoluminescence: the emission of longer wavelength light upon excitation by light of a shorter wavelength. The colour of light emitted depends on the particle size. Nanoco's CFQD®quantum dots are free of cadmium and other toxic heavy metals, and can be tuned to emit light at different wavelengths across the visible and infrared spectrum, rendering them useful for a wide range of applications including displays, lighting and biological imaging.

Nanoco was founded in 2001 and is headquartered in Runcorn, UK, with a US subsidiary, Nanoco Inc., in Concord, MA. Nanoco continues to build out a world-class, patent-protected IP portfolio generated both by its own innovation engine, as well as through acquisition.

Nanoco is listed on the Main Market of the London Stock Exchange and trades under the ticker symbol NANO. For further information, please visit: www.nanocotechnologies.com .

Notification of Dealing Form

1.	Details of the Person Discharging Managerial Responsibilities ("PDMR") / person closely associated with them ("PCA")
a)	Name	BRIAN TENNER
2.	Reason for the notification
a)	Position /status	CHIEF EXECUTIVE OFFICER
b)	Initial notification / amendment	INITIAL NOTIFICATION
3.	Details of the Issuer
a)	Name	NANOCO GROUP PLC
b)	LEI code	213800HOSJEZO1KOCV33
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)	Type of instrument Identification code	ORDINARY SHARES OF 1O PENCE EACH
		ISIN: GB00B01JLR99
b)	Nature of the transaction	GRANT OF AN OPTION OVER ORDINARY SHARES UNDER THE NANOCO 2015 DEFERRED BONUS PLAN
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil cost 649,072
d)	Aggregated information: - Aggregated volume - Price	N/A
e)	Date of the transaction	27 OCTOBER 2022
f)	Place of the transaction	OUTSIDE A TRADING VENUE

Notification of Dealing Form

1.	Details of the Person Discharging Managerial Responsibilities ("PDMR") / person closely associated with them ("PCA")
a)	Name	BRIAN TENNER
2.	Reason for the notification
a)	Position /status	CHIEF EXECUTIVE OFFICER
b)	Initial notification / amendment	INITIAL NOTIFICATION
3.	Details of the Issuer
a)	Name	NANOCO GROUP PLC
b)	LEI code	213800HOSJEZO1KOCV33
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)	Type of instrument Identification code	ORDINARY SHARES OF 1O PENCE EACH
		ISIN: GB00B01JLR99
b)	Nature of the transaction	GRANT OF AN OPTION OVER ORDINARY SHARES UNDER THE NANOCO 2015 LONG TERM INCENTIVE PLAN
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil cost 1,192,716
d)	Aggregated information: - Aggregated volume - Price	N/A
e)	Date of the transaction	27 OCTOBER 2022
f)	Place of the transaction	OUTSIDE A TRADING VENUE

Notification of Dealing Form

1.	Details of the Person Discharging Managerial Responsibilities ("PDMR") / person closely associated with them ("PCA")
a)	Name	DR NIGEL PICKETT
2.	Reason for the notification
a)	Position /status	CHIEF TECHNICAL OFFICER
b)	Initial notification / amendment	INITIAL NOTIFICATION
3.	Details of the Issuer
a)	Name	NANOCO GROUP PLC
b)	LEI code	213800HOSJEZO1KOCV33
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)	Type of instrument Identification code	ORDINARY SHARES OF 1O PENCE EACH
		ISIN: GB00B01JLR99
b)	Nature of the transaction	GRANT OF AN OPTION OVER ORDINARY SHARES UNDER THE NANOCO 2015 DEFERRED BONUS PLAN
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil cost 501,421
d)	Aggregated information: - Aggregated volume - Price	N/A
e)	Date of the transaction	27 OCTOBER 2022
f)	Place of the transaction	OUTSIDE A TRADING VENUE

Notification of Dealing Form

1.	Details of the Person Discharging Managerial Responsibilities ("PDMR") / person closely associated with them ("PCA")
a)	Name	DR NIGEL PICKETT
2.	Reason for the notification
a)	Position /status	CHIEF TECHNICAL OFFICER
b)	Initial notification / amendment	INITIAL NOTIFICATION
3.	Details of the Issuer
a)	Name	NANOCO GROUP PLC
b)	LEI code	213800HOSJEZO1KOCV33
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)	Type of instrument Identification code	ORDINARY SHARES OF 1O PENCE EACH
		ISIN: GB00B01JLR99
b)	Nature of the transaction	GRANT OF AN OPTION OVER ORDINARY SHARES UNDER THE NANOCO 2015 LONG TERM INCENTIVE PLAN
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil cost 848,780
d)	Aggregated information: - Aggregated volume - Price	N/A
e)	Date of the transaction	27 OCTOBER 2022
f)	Place of the transaction	OUTSIDE A TRADING VENUE

Notification of Dealing Form

1.	Details of the Person Discharging Managerial Responsibilities ("PDMR") / person closely associated with them ("PCA")
a)	Name	LIAM GRAY
2.	Reason for the notification
a)	Position /status	CHIEF FINANCIAL OFFICER
b)	Initial notification / amendment	INITIAL NOTIFICATION
3.	Details of the Issuer
a)	Name	NANOCO GROUP PLC
b)	LEI code	213800HOSJEZO1KOCV33
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)	Type of instrument Identification code	ORDINARY SHARES OF 1O PENCE EACH
		ISIN: GB00B01JLR99
b)	Nature of the transaction	GRANT OF AN OPTION OVER ORDINARY SHARES UNDER THE NANOCO 2015 DEFERRED BONUS PLAN
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil cost 253,161
d)	Aggregated information: - Aggregated volume - Price	N/A
e)	Date of the transaction	27 OCTOBER 2022
f)	Place of the transaction	OUTSIDE A TRADING VENUE

Notification of Dealing Form

1.	Details of the Person Discharging Managerial Responsibilities ("PDMR") / person closely associated with them ("PCA")
a)	Name	LIAM GRAY
2.	Reason for the notification
a)	Position /status	CHIEF FINANCIAL OFFICER
b)	Initial notification / amendment	INITIAL NOTIFICATION
3.	Details of the Issuer
a)	Name	NANOCO GROUP PLC
b)	LEI code	213800HOSJEZO1KOCV33
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)	Type of instrument Identification code	ORDINARY SHARES OF 1O PENCE EACH
		ISIN: GB00B01JLR99
b)	Nature of the transaction	GRANT OF AN OPTION OVER ORDINARY SHARES UNDER THE NANOCO 2015 LONG TERM INCENTIVE PLAN
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil cost 607,201
d)	Aggregated information: - Aggregated volume - Price	N/A
e)	Date of the transaction	27 OCTOBER 2022
f)	Place of the transaction	OUTSIDE A TRADING VENUE

= END =

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[1] The totals shown include previous EMI awards, LTIP awards, and Deferred Bonus Plan awards including the ones detailed above. Details of each award, excluding those above, can be found in the Remuneration Report section of the Annual Report for the year ending 31 July 2022.

 

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