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Enteq Technologies PLC's Remuneration Committee approved a grant of awards under its Performance Share Plan (PSP), effective 20 October 2023. Under this grant, CEO Andrew Law received options over 1,184,211 Ordinary Shares, CFO Mark Ritchie received options over 736,842 Ordinary Shares, and Product Director Neil Bird received options over 447,368 Ordinary Shares. These awards have an exercise price of 1 pence per share and a vesting date of 20 October 2026, subject to a total shareholder return target by 31 March 2026.
| Date | 23 Oct 2023 |
| Time | 07:00:13 |
| Category | Director/PDMR dealings |
| ID | 8857Q |
Enteq Technologies plc
("Enteq" or the "Company")
Awards under the Enteq Technologies plc Performance Share Plan ("PSP")
Enteq Technologies plc (AIM: NTQ.L), the energy services technology and equipment supplier announces that its Remuneration Committee has approved a grant of awards under its Performance Share Plan ("PSP") effective on 20 October 2023.
This grant has a vesting date of 20 October 2026. The vesting performance condition relates to the achievement of a total shareholder return target over the period to 31 March 2026. This target is set and monitored by the Remuneration Committee. The consideration payable for these awards on exercise is 1 pence per ordinary share in the Company ("Ordinary Share"). Under the terms of the PSP these awards are subject to claw back and malus provisions, and no holding period.
Andrew Law (CEO) was granted PSP options over 1,184,211 Ordinary Shares, taking his total outstanding grants under the PSP scheme to options over 2,593,876 Ordinary Shares.
Mark Ritchie (CFO) was granted PSP options over 736,842 Ordinary Shares, taking his total outstanding grants under the PSP scheme to options over 736,842 Ordinary Shares.
Neil Bird (Product Director), who is not on the Board but considered a Person Discharging Managerial Responsibilities, was granted PSP options over 447,368 Ordinary Shares, taking his total outstanding grants under the PSP scheme to options over 945,703 Ordinary Shares.
For further information, please contact:
Enteq Technologies plc +44 (0)20 8087 2202
Andrew Law, Chief Executive Officer
Mark Ritchie, Chief Financial Officer
Cavendish Capital Markets Limited (NOMAD and Broker) +44 (0)20 7220 0500
Ed Frisby, Fergus Sullivan (Corporate Finance)
Andrew Burdis, Barney Hayward (ECM)
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1. |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Andrew Law |
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2. |
Reason for the Notification |
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a) |
Position/status |
Chief Executive Officer |
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b) |
Initial notification/Amendment |
Initial Notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Enteq Technologies |
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b) |
LEI |
2138006BKS2MOAPRUB75 |
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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 |
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a) |
Description of the Financial instrument, type of instrument |
Options over ordinary shares of 1 pence each |
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Identification code |
GB00B41Q8Q68 |
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b) |
Nature of the transaction |
Issue of options |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information
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Not applicable - single transaction |
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e) |
Date of the transaction |
20 October 2023 |
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f) |
Place of the transaction |
Outside a trading venue |
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1. |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Mark Ritchie |
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2. |
Reason for the Notification |
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a) |
Position/status |
Chief Financial Officer |
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b) |
Initial notification/Amendment |
Initial Notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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|
a) |
Name |
Enteq Technologies |
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b) |
LEI |
2138006BKS2MOAPRUB75 |
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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 |
Options over ordinary shares of 1 pence each |
||||
|
Identification code |
GB00B41Q8Q68 |
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b) |
Nature of the transaction |
Issue of options |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information
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Not applicable - single transaction |
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e) |
Date of the transaction |
20 October 2023 |
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f) |
Place of the transaction |
Outside a trading venue |
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1. |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Neil Bird |
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2. |
Reason for the Notification |
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a) |
Position/status |
Product Director |
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b) |
Initial notification/Amendment |
Initial Notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Enteq Technologies |
||||
|
b) |
LEI |
2138006BKS2MOAPRUB75 |
||||
|
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 |
Options over ordinary shares of 1 pence each |
||||
|
Identification code |
GB00B41Q8Q68 |
|||||
|
b) |
Nature of the transaction |
Issue of options |
||||
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c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information:
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Not applicable - single transaction |
||||
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e) |
Date of the transaction |
20 October 2023 |
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f) |
Place of the transaction |
Outside a trading venue |
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