Grant of Share Options

RNS Number : 1937K

SRT Marine Systems PLC

04 May 2022

 

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

Grant of share options

SRT Marine Systems plc, a global provider of maritime surveillance, monitoring and management systems, announces that share options have been granted to Simon Tucker, Chief Executive Officer.

On 3 May 2022, options were granted over 2,500,000 ordinary shares of 0.1p each and are exercisable at the nominal value. The options vest between 3 and 10 years in five equal tranches when the average mid-market closing share price exceeds each of 125p, 150p, 200p, 250p, 300p over a twenty day period.  The latest closing price of the shares was 33p, the first tranche of options representing an increase of in excess of 3.8x the current share price.

Contacts:
SRT Marine Systems plc		www.srt-marine.com   + 44 (0) 1761 409500
Simon Tucker (CEO)		[e-mail]
Louise Coates (Marketing Manager)		[e-mail]
finnCap Ltd
Jonny Franklin-Adams / Teddy Whiley (Corporate Finance)		[phone]
Tim Redfern / Charlotte Sutcliffe (ECM)

About SRT Marine Systems plc:

SRT Marine Systems PLC is a global company which develops and provides integrated maritime surveillance, monitoring, management and safety systems used by coast guards, fishery authorities, infrastructure and vessel owners for the purposes of managing and controlling their maritime domain.  Applications include security, safety, search & rescue, law enforcement, fisheries management, illegal fishing detection and environment monitoring. 

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	Simon Tucker
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	SRT Marine Systems PLC
b)	LEI	2138002DF3KFXL472938
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 0.1p each in SRT Marine Systems plc ISIN - GB00B0M8KM36
b)	Nature of the transaction	Grant of Options over Ordinary Shares
c)	Price(s) and volume(s)	Price(s) 125p 150p 200p 250p 300p	Volume(s) 500,000 500,000 500,000 500,000 500,000
d)	Aggregated information -  Aggregated volume -  Price	2,500,000 500,000 at each price hurdle as noted above in 4 (c).
e)	Date of the transaction	3 May 2022
f)	Place of the transaction	London Stock Exchange, AIM

 

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