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Redcentric plc granted a total of 2,040,861 options over new ordinary shares under its 2016 Long Term Incentive Plan on 19 September 2023, including 605,620 options to CEO Peter Brotherton and 347,030 options to CFO David Senior, all at an exercise price of 0.1 pence per share. Following these grants, the company has 6,351,922 options outstanding over Ordinary Shares, representing 4.1% of its issued voting share capital.
| Date | 20 Sept 2023 |
| Time | 16:08:25 |
| Category | Director/PDMR dealings |
| ID | 0935N |
Redcentric plc
Grant of Options and PDMR Shareholding
Redcentric plc (AIM: RCN) ("Redcentric" or the "Company"), a leading UK IT managed services provider, announces that it has granted a total of 2,040,861 options over new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") under the Company's 2016 Long Term Incentive Plan ("LTIP Options"). The LTIP Options are three-year, nominal cost (0.1p) options and subject to continued employment and the meeting of certain performance conditions described below. 952,650 of the LTIP Options were granted to executive directors of the Company as follows:
· 605,620 LTIP Options were granted to Peter Brotherton, Chief Executive Officer of the Company, following which Mr. Brotherton holds a total of 1,799,219 options over Ordinary Shares and 437,136 Ordinary Shares (representing approximately 0.28% of the Company's issued voting share capital); and
· 347,030 LTIP Options were granted to David Senior, Chief Financial Officer of the Company, following which Mr. Senior holds a total of 1,011,396 options over Ordinary Shares and 106,550 Ordinary Shares (representing approximately 0.07% of the Company's issued voting share capital).
The LTIP Options in respect of the executive directors have a value equal to 200% of salary with the first 100% of salary based on absolute Total Shareholder Return ("TSR") between 5% and 10% p.a. and the additional 100% of salary based on stretch absolute TSR targets of 10% to 15% p.a.
Following the grant of the LTIP Options, there are options outstanding over 6,351,922 Ordinary Shares, representing 4.1% of the Company's issued voting share capital.
The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.
Enquiries:
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Redcentric plc Peter Brotherton, Chief Executive Officer David Senior, Chief Financial Officer
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+44 (0)800 983 2522 |
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finnCap Ltd - Nomad and Sole Broker Marc Milmo / Simon Hicks / Charlie Beeson (Corporate Finance) Andrew Burdis / Sunila de Silva (ECM) |
+44 (0)20 7220 0500 |
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
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1 |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name |
Peter Brotherton |
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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 |
Redcentric plc |
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b) |
Legal Entity Identifier |
213800FGYMMNE9OKFD14 |
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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 Identification code |
Options over new ordinary shares of 0.1p each
GB00B7TW1V39
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b) |
Nature of the transaction |
Grant of options |
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c) |
Currency |
GBP |
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d) |
Price(s) and volume(s) |
Price (exercise) |
Volume(s) |
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0.1p |
605,620 |
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e) |
Aggregated information - Aggregated volume - Price - Aggregated total |
N/A - single transaction
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f) |
Date of the transaction |
19 September 2023 |
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g) |
Place of the transaction |
Outside of a trading venue |
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1 |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name |
David Senior |
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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 |
Redcentric plc |
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b) |
Legal Entity Identifier |
213800FGYMMNE9OKFD14 |
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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 Identification code |
Options over new ordinary shares of 0.1p each
GB00B7TW1V39
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b) |
Nature of the transaction |
Grant of options |
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c) |
Currency |
GBP |
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d) |
Price(s) and volume(s) |
Price (exercise) |
Volume(s) |
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0.1p |
347,030 |
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e) |
Aggregated information - Aggregated volume - Price - Aggregated total |
N/A - single transaction
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f) |
Date of the transaction |
19 September 2023 |
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g) |
Place of the transaction |
Outside of a trading venue |
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