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Nanoco Group PLC (NANO)

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Wednesday 21 October, 2020

Nanoco Group PLC

Director/PDMR Shareholding

RNS Number : 8264C
Nanoco Group PLC
21 October 2020
 

21 October 2020

NANOCO GROUP PLC

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

 

NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND FORMER EXECUTIVE DIRECTOR

On 21 October 2020 Nanoco Group plc ("Nanoco") granted nil-cost options over ordinary shares in the Company under the Nanoco Group 2015 Long Term Incentive Plan (the "LTIP") to the directors, other PDMRs, other staff and a former director as noted below.

Name of Director / PDMR

Number of options granted

Total number of options outstanding

Brian Tenner (CEO - Director, PDMR)

2,485,956

4,550,310

Nigel Pickett (CTO - Director, PDMR)

1,647,668

4,389,004

Liam Gray (Company Secretary, PDMR)

543,891

705,819

Other non-disclosable managers

1,988,730

n/a

Michael Edelman (special adviser, former Director)

1,795,922

5,682,048

Total number

8,462,167

n/a

Ordinarily the number of options awarded would have been calculated 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 2020. This was 11.3 pence. However, given the sharp fall in the Group's share price following the results announcement, the Board felt it appropriate to reflect this fall in the awards and hence has used the average share price in the preceding three months to calculate the number of awards to be made. This was 15.4 pence. The use of the higher price to calculate the number of awards results in a reduction in the number of awards to each person of approximately 27%.

The vesting of the options is subject to the achievement of performance conditions based upon the growth in the Company's share price over the three year performance period ending 31 July 2023. The equivalent compound annual growth rate ('CAGR') is shown for information purposes and is based on the average of the closing mid-market price of the Company's shares for the three days after the Group's annual results for the year ending 31 July 2020 (announced on 13 October 2020).

Range

Share price (equivalent CAGR (%))

Proportion of award that will vest

Below threshold

Less than 30 pence (<38.3%)

Nil

Threshold

30 pence (38.3%)

25%

Target

40 pence (52.2%)

60%

Maximum

50 pence (64.0%)

100%

The award to Dr Michael Edelman (who has ceased to be a PDMR) is in line with the terms agreed around his ceasing to hold office as CEO and his continuing role as a special adviser to the Group's Litigation Sub-Committee as announced and disclosed on 1 September 2020. The award to Dr Edelman is subject to the same performance conditions and other conditions as the awards to all other staff, including the basis of calculating the number of awards made.

Ordinarily, the 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 2023. 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
Company Secretary
Telephone : +44 (0) 161 603 7900

 

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. 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 and Electronics markets. One of the interesting properties 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 Manchester, 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 LONG TERM INCENTIVE PLAN

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil cost

2,485,956

d)

Aggregated information:
- Aggregated volume
- Price

N/A

e)

Date of the transaction

21 OCTOBER 2020

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

1,647,668

d)

Aggregated information:
- Aggregated volume
- Price

N/A

e)

Date of the transaction

21 OCTOBER 2020

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

COMPANY SECRETARY, NANOCO GROUP PLC

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

543,891

d)

Aggregated information:
- Aggregated volume
- Price

N/A

e)

Date of the transaction

21 OCTOBER 2020

f)

Place of the transaction

OUTSIDE A TRADING VENUE

 

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