Award of options and related party transaction

RNS Number : 4696A

Trakm8 Holdings PLC

29 May 2019

 

For immediate release

29 May 2019

Trakm8 Holdings plc

('Trakm8' or the 'Company')

Award of options and related party transaction

Trakm8 Holdings plc (AIM: TRAK), a leading telematics and data supplier to global markets, today announces that it has agreed to issue 50,000 new options ("New Options") over ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") to Keith Evans, the non executive deputy chairman of the Company, through a salary sacrifice of £4,750 over the next three years. In addition, 75,000 existing options over Ordinary Shares have been cancelled and reissued ("Existing Options") to Mr Evans.

Both the New Options and Existing Options vest on 28 May 2022 and can be exercised at 33.5 pence. The conditions of the New Options and Existing Options (together the "Options Award") require Mr Evans to remain in employment with the Company at the date of exercise and may only be exercised if the mid-market share price is 50 pence or more at the time of exercise.

Related party transaction

In light of the recent grants of options to other directors, Nadeem Raza is considered to be the only independent director for the purposes of the Options Award to Keith Evans. Mr Raza considers, having consulted with Arden Partners Plc, the Company's Nominated Adviser, that the terms of the award of New Options and Existing Options are fair and reasonable insofar as shareholders are concerned.

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	Keith Evans
2	Reason for the notification
a)	Position/status	Non-executive Deputy Chairman
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Trakm8 Holdings plc
b)	LEI	213800I7RQRIKCSHY846
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	Options over Ordinary shares of 1p each in Trakm8 Holdings plc Identification code (ISIN) for Trakm8 Holdings plc ordinary shares: GB00B0P1RP10
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) 33.5p 125,000
d)	Aggregated information - Aggregated volume - Price	See above
e)	Date of the transaction	28 May 2019
f)	Place of the transaction	London Stock Exchange, (XLON)

- Ends -

For further information:

Trakm8 Holdings plc
John Watkins, Executive Chairman	Tel: [phone]
Jon Furber, Finance Director	www.trakm8.com
Arden Partners plc (Nominated Adviser & Broker)	Tel: [phone]
Paul Shackleton / Maria Gomez de Olea	www.arden-partners.com

About Trakm8

Trakm8 is a UK based technology leader in fleet management, insurance telematics, connected car, and optimisation. Through IP owned technology, the Group analyses data collected by its installed base of telematics units to fine tune the algorithms that are used to produce its' solutions; these monitor driver behaviour, identify crash events and monitor vehicle health to provide actionable insights to continuously improve the security and operational efficiency of both company fleets and private drivers.

The Group's product portfolio includes the latest data and reporting portal (Trakm8 Insight), integrated telematics/cameras, self-installed telematics units and one of the widest ranges of installed telematics devices. Trakm8 has over 243,000 connections.

Headquartered in Coleshill near Birmingham alongside its manufacturing facility, the Group supplies to the Fleet, Optimisation, Insurance and Automotive sectors to many well-known customers in the UK and internationally including the AA, Saint Gobain, EON, Iceland Foods, Direct Line Group and Young Marmalade.

Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.

www.trakm8.com / @Trakm8

 

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