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Ideagen PLC (IDEA)

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Friday 21 May, 2021

Ideagen PLC

Director/PDMR Shareholding

RNS Number : 3630Z
Ideagen PLC
21 May 2021
 

Ideagen PLC

("Ideagen," "the Company" or the "Group'')

New Long Term Incentive Plan, issue of shares and total voting rights

Ideagen PLC (AIM: IDEA), a leading supplier of Information Management Software to highly regulated industries, will implement a new long term incentive plan (the "2021 LTIP") following the conclusion of Ideagen's 2018 LTIP earlier this year. The principles underpinning the 2021 LTIP are similar to the previous LTIP, insofar as the performance criteria will be challenging and closely aligned to the Company's evolving business strategy aimed at delivering shareholder value. The Board's experience is that previous LTIPs have been a significant factor in attracting, motivating and retaining the high quality executive and senior management teams leading the Company.

 

Awards under the 2021 LTIP will be made across the Group's executive directors, executive leadership team and leadership team on an annual basis over the next three years and awarded as options over ordinary shares of 1 pence each in the Company ("Options").

 

Accordingly, the Company has today issued a total of 624,648 Options as the first annual award under the 2021 LTIP. Ben Dorks, CEO, has been awarded 219,614 Options and Emma Hayes, CFO, has been awarded 88,554 Options. A total of a further 316,480 Options have also today been issued to members of the Company's executive leadership and leadership teams.

 

The performance targets for each annual grant will be set by the Remuneration Committee to align the delivery of shareholder value with the business strategy of the Group against the performance framework outlined below. The Board are also mindful of the guiding principle that potential shareholder dilution as a result of any awards should be carefully considered and maintained at an appropriate low level.  With this in mind, the number of Options that have been issued today under the 2021 LTIP will be of the order of 0.3% of Ideagen's current issued share capital. The Company recognises that all share plan awards will be below the maximum 10% of the company's issued share capital in any 10-year rolling period.

 

Options awarded under the 2021 LTIP will be priced at the average price of Ideagen's ordinary shares on a volume weighted average price, over the 50 business days preceding the award date, with a vesting period of three years and cannot be exercised until the fourth anniversary of any such award. Options will expire on the seventh anniversary following vesting. Vesting criteria will be based on a mix of revenue, earnings, cash generation, ESG and shareholder return targets aligned with the Group's internal budget and plan. The exercise price of Options issued today will accordingly be 282 pence each.

The Company further announces that it has allotted a total of 3,747 new ordinary shares of 1 penny each in the capital of the Company ("Ordinary Shares") following the purchase of 3,747 Ordinary Shares by a number of employees under the Company's Share Incentive Plan ("SIP").

Application has been made to the London Stock Exchange for the 3,747 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective and trading will commence at 8.00 a.m. on or around 26 May 2021.

After Admission, the total number of Ordinary Shares in issue will be 252,302,512 and the total number of voting rights will therefore be 252,302,512. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014



 

Enquiries:

Ideagen plc

01629 699100

Ben Dorks, Chief Executive Officer


Emma Hayes, Chief Finance Officer




finnCap Limited

020 7220 0500

Henrik Persson/James Thompson (Nomad)


Alice Lane (ECM)

 


Canaccord Genuity

020 7523 8000

Simon Bridges


Richard Andrews


 

About Ideagen plc

Ideagen is a UK-headquartered, global technology company quoted on the London Stock Exchange AIM market (Ticker: IDEA.L).

A global supplier of regulatory and compliance solutions, Ideagen provides a common software platform and an integrated risk-based approach to meet multi-industry standards, enabling compliance with relevant laws, policies, and regulations.

The Group provides software and services to organisations operating within highly regulated industries such as life sciences, healthcare, banking and finance, insurance, aviation, and aerospace and defence, with its main operational premises spread throughout the UK, EU, US, Middle East and SE Asia.

Currently, more than 5,700 organisations use Ideagen's products including nine of the top 10 UK accounting firms, all of the top aerospace and defence companies and 75% of the world's leading pharmaceutical firms.

Ideagen's diverse and varied customer base includes many well-known, global brands such as British Airways, Aggreko, BAE, Ryanair, US Navy, KLM, BBVA, Bank of New York, Commerzbank, Meggitt, Heineken, Johnson Matthey, Haeco Group and European Central Bank. As well as this, Ideagen counts 250 hospitals across the UK and US amongst its client base. For further information please visit www.ideagen.com .

 

 

 

 

 

 

 

1. 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Ben Dorks

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

Ideagen plc

b)

LEI

213800KS1MLITOVNYC85

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

Issue of options over Ordinary Shares of 1p each

Identification code

GB00B0CM0C50

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

1 penny

 219,614

d)

Aggregated information:

· Aggregated volume

· Price

N/A

e)

Date of the transaction

21 May 2021

f)

Place of the transaction

Off market transaction

 

1. 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Emma Hayes

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

Ideagen plc

b)

LEI

213800KS1MLITOVNYC85

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

Issue of options over Ordinary Shares of 1p each

Identification code

GB00B0CM0C50

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

1 penny

88,554

d)

Aggregated information:

· Aggregated volume

· Price

N/A

e)

Date of the transaction

21 May 2021

f)

Place of the transaction

Off market transaction

 

1. 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

James King

2. 

Reason for the Notification

a)

Position/status

Chief Revenue Officer and PDMR

b)

Initial notification/Amendment

Initial notification

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ideagen plc

b)

LEI

213800KS1MLITOVNYC85

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

Issue of options over Ordinary Shares of 1p each

Identification code

GB00B0CM0C50

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

1 penny

79,698

d)

Aggregated information:

· Aggregated volume

· Price

N/A

e)

Date of the transaction

21 May 2021

f)

Place of the transaction

Off market transaction

 

1. 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Ian Hepworth

2. 

Reason for the Notification

a)

Position/status

Chief Technology Officer and PDMR

b)

Initial notification/Amendment

Initial notification

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ideagen plc

b)

LEI

213800KS1MLITOVNYC85

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

Issue of options over Ordinary Shares of 1p each

Identification code

GB00B0CM0C50

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

1 penny

79,698

d)

Aggregated information:

· Aggregated volume

· Price

N/A

e)

Date of the transaction

21 May 2021

f)

Place of the transaction

Off market transaction

 

1. 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Arun Varma

2. 

Reason for the Notification

a)

Position/status

Chief Marketing Officer and PDMR

b)

Initial notification/Amendment

Initial notification

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ideagen plc

b)

LEI

213800KS1MLITOVNYC85

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

Issue of options over Ordinary Shares of 1p each

Identification code

GB00B0CM0C50

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

1 penny

79,698

d)

Aggregated information:

· Aggregated volume

· Price

N/A

e)

Date of the transaction

21 May 2021

f)

Place of the transaction

Off market transaction

 

 

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