Surrender and Granting of Options

RNS Number : 6708K

Quartix Technologies PLC

22 December 2022

 

22 December 2022

Quartix Technologies plc

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

Surrender and Granting of Options

Quartix Holdings PLC (AIM: QTX), a leading supplier of vehicle tracking systems, announces that on 20 December 2022 Emily Rees, Chief Financial Officer, who is a PDMR, has surrendered for no consideration 51,546 options granted on 24 May 2021 and Richard Lilwall, Chief Executive Officer, who is a PDMR has surrendered for no consideration 58,823 options granted on 18 October-2021. 

Subsequent to this, Emily Rees and Richard Lilwall have both, in accordance with the Long Term Incentive Plan established by Resolution of the Board of Directors, been granted on 22 December 2022 106,000 options over ordinary shares of 1 pence each exercisable at the nominal share price.  These options are granted over a period of three years and vest subject to stretching performance conditions on 3-year compound increase across three measures: Annual Recurring Revenue (ARR), Free Cash Flow (FCF) and Total Shareholder Return (TSR).  The overall blend of options is 57% based on ARR, 22% FCF and 22% TSR.

The performance conditions are based on compound growth from baselines in each measure, within a threshold and maximum envelope of:

· ARR - 7.5% to 15% per year

· FCF - 7.5% to 15% per year

· TSR - 10% to 20% per year

Further details on the long-term incentive plan will be detailed in the company's annual report.

For further information, please contact:

Quartix  (www.quartix.net) Richard Lilwall, Chief Executive Officer Emily Rees, Chief Financial Officer	01686 806 663
finnCap (Nominated Adviser and Broker) Matt Goode / Seamus Fricker (Corporate Finance) Alice Lane / Sunila de Silva (Corporate Broking)	020 7220 0500

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	Richard Lilwall
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	Quartix Technologies plc
b)	LEI	213800I4PGCG3QUIHC59
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	1p Ordinary shares
	Identification code	GB00BLZH2C83
b)	Nature of the transaction	Surrender of options granted under the Option Agreement scheme on 18 October 2021
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 58,823
d)	Aggregated information: · Aggregated volume · Price	58,823 Nil
e)	Date of the transaction	20 December 2022
f)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Emily Rees
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	Quartix Technologies plc
b)	LEI	213800I4PGCG3QUIHC59
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	1p Ordinary shares
	Identification code	GB00BLZH2C83
b)	Nature of the transaction	Surrender of options granted under the Option Agreement scheme on 24 May 2021
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 51,546
d)	Aggregated information: · Aggregated volume · Price	51,546 Nil
e)	Date of the transaction	20 December 2022
f)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Richard Lilwall
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	Quartix Technologies plc
b)	LEI	213800I4PGCG3QUIHC59
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	1p Ordinary shares
	Identification code	GB00BLZH2C83
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 106,000
d)	Aggregated information: · Aggregated volume · Price	106,000 Nil
e)	Date of the transaction	22 December 2022
f)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Emily Rees
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	Quartix Technologies plc
b)	LEI	213800I4PGCG3QUIHC59
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	1p Ordinary shares
	Identification code	GB00BLZH2C83
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 106,000
d)	Aggregated information: · Aggregated volume · Price	106,000 Nil
e)	Date of the transaction	22 December 2022
f)	Place of the transaction	Outside a trading venue

 

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