16 August 2016
COHORT PLC (the "Company")
Director Share Awards, Options and Shareholdings
Cohort plc (the "Company") wishes to notify the following changes in the interests of directors of the Company in ordinary shares of 10 pence in relation to share awards and share options.
Grant and Transfer of Share Awards
On 15 August 2016 share awards pursuant to the 2013 Restricted Share Scheme established on 30 July 2013 (the "Restricted Share Scheme") were granted to directors of the Company for nil consideration. Also on 15 August, shares that had vested on 2 August, 11 August and 15 August in accordance with the rules of the Restricted Share Scheme were transferred to the directors of the Company (the "Transfers"). The transfer of shares that are due to vest on 20 August in accordance with the rules of the Restricted Share Scheme was also approved by the Board on 15 August. The following table sets out the details of the Grant and Transfers:
Director |
Number of shares
under this award |
Number of shares vested and transferred* |
Total number of unvested shares under the Restricted Share Scheme following Grant and Transfers* |
AS Thomis |
12,007 |
13,491 |
19,095 |
SR Walther |
9,515 |
11,157 |
15,294 |
*Following the transfer of shares on 20 August 2016
Full beneficial ownership of Restricted Shares (including voting and dividend rights) will transfer to the recipients in stages over a three-year period from the date of grant. Recipients may only sell Restricted Shares with the approval of the Chairman of the Remuneration & Appointments Committee while they remain in employment with the Company. Further details regarding the Restricted Shares can be found in the Company's Annual Report and Accounts 2016.
Grant of Share Options
On 15 August 2016 share options pursuant to the Cohort plc 2016 Company Share Option Plan were granted to directors of the Company as follows:
Director |
Number of shares under this option |
Exercise Price
(pence) |
Total number of shares under option following grant |
AS Thomis - Unapproved |
12,471 |
340.0 |
73,765 |
SR Walther - Unapproved |
9,882 |
340.0 |
213,294 |
The options can be exercised between 15 August 2019 and 14 August 2026.
Director Shareholdings
Following completion of the transactions detailed above on 20 August 2016, the interests of Mr Thomis and Mr Walther and their connected persons in the shares of Cohort plc will be as follows:
Director |
Ordinary shares |
% of the total issued share capital |
AS Thomis |
112,007 |
0.27 |
SR Walther |
97,554 |
0.24 |
Ends
For further information, please contact
Cohort plc |
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0118 909 0390 |
Andrew Thomis, Chief Executive
Simon Walther, Finance Director |
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Investec Bank plc |
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020 7597 5970 |
Keith Anderson / Daniel Adams |
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MHP Communications Limited |
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020 3128 8100 |
Reg Hoare / Jamie Ricketts / Ollie Hoare |
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NOTES TO EDITORS
Cohort plc
Cohort is an independent technology group working primarily for defence (air, land and sea), wider government and industry clients, through five market-facing subsidiary companies:
MASS - a specialist systems house with a focus on electronic warfare operational support, cyber defence and secure information systems. Based in Cambridgeshire, MASS was acquired by Cohort in August 2006;
MCL - an expert in sourcing, design and integration of surveillance and other electronic systems, as well as field support and training for the UK MOD and other government agencies. Based in Surrey, MCL has been part of the Group since July 2014;
SCS - a defence technical advisory business, providing a range of services, including independent technical evaluation of military aircraft safety, and design and delivery of large and small scale military training exercises. Owned by Cohort since flotation in March 2006;
SEA - an advanced systems and software business operating in the defence (naval systems, simulation, training and technology research), transport and offshore energy market sectors. Acquired by Cohort in October 2007.
EID - a Portugal based supplier of advanced electronics, communications and command and control products and systems for the global defence market, in which Cohort acquired a majority stake in June 2016.
Cohort was admitted to London's Alternative Investment Market in March 2006. It has its headquarters in Berkshire and employs in total around 800 core staff there and at its other operating company sites in Bristol, Cambridgeshire, Devon, Lincolnshire, Somerset, Surrey, Scotland and Portugal.
