Award of options

For immediate release

5 March 2019

 

Trakm8 Holdings plc

('Trakm8' or the 'Company')

 

Award of options

 

Trakm8 Holdings plc (AIM: TRAK), a leading telematics and data supplier to global markets, announces that today, following a review of its remuneration for directors and senior management, new options ("New Options") have been granted and existing options have been reissued ("Reissued Options", and, together with the New Options, the "Options Grant") over ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") to certain directors and employees of the Company as outlined below.

 

New Options

The following New Options have been awarded to certain directors of the Company:

Director / PDMR	Position	Number of Options granted	Exercise price*
John Watkins	Executive Chairman	125,000	33.5p
Jon Furber	Group Finance Director	125,000	33.5p
Mark Watkins	Chief Operating Officer	125,000	33.5p
Bill Duffy	Non-Executive Director	50,000	33.5p

*Issued at a 20% premium to the mid-market closing share price on 4 March 2019

 

Vesting conditions: The New Options vest on 5 March 2022 and require that the recipients remain in employment with the Company at the date of exercise. All of the above New Options may only be exercised if the mid-market share price is 50 pence or more at the time of exercise.

 

Reissued Options

The following directors and PDMRs have had certain existing options cancelled and the following Reissued Options granted, such that number of options cancelled equal the number of Reissued Options:

Director	Position	Number of Options granted	Exercise price*
John Watkins	Executive Chairman	300,000	33.5p
Jon Furber	Group Finance Director	475,000	33.5p
Mark Watkins	Chief Operating Officer	250,000	33.5p
Bill Duffy	Non-Executive Director	75,000	33.5p
Matt Cowley	Big Data Director	25,000	33.5p
Tim Cowley	Strategy Director	50,000	33.5p
Sean Morris	MD - Insurance and Automotive	350,000	33.5p
Matt Monnington (PDMR)	Chief Technology Officer	200,000	33.5p

*Issued at a 20% premium to the mid-market closing share price on 4 March 2019

 

Vesting conditions: The Reissued Options vest on 5 March 2022 and require that the recipients remain in employment with the Company at the date of exercise. All of the above Reissued Options may only be exercised if the mid-market share price is 50 pence or more at the time of exercise.

 

Employee Options

In addition to the above, 325,000 existing options have been cancelled and the same number of options have been reissued to certain other employees of the Company on the same terms as the  Reissued Options to the directors and PDMRs.

 

Existing Options

In addition to the New Options and Reissued Options noted above, there are 1,605,000 existing options outstanding to certain directors, PDMRs and other employees of the Company. As detailed in the table below, the existing options together with the Reissued Options and New Options, would, if fully exercised, result in the issue of an additional 4,080,000 Ordinary Shares of 1 pence each in the Company, representing 8.2 per cent. of the current issued share capital of 50,004,002 Ordinary Shares (of which 29,000 shares are held in treasury) as at the date of this announcement.   

 

A summary of all shares under option is set out in the table below:

Director / PDMR	Existing Options				Re-issued Options	New Options	Total Options
Exercise price	19.5p	44.5p	57.75p	81.5p-333p	33.5p	33.5p
John Watkins	-	250,000	-	-	300,000	125,000	675,000
Jon Furber	-	-	-	-	475,000	125,000	600,000
Mark Watkins	-	-	200,000	-	250,000	125,000	575,000
Bill Duffy	-	-	-	-	75,000	50,000	125,000
Matt Cowley	-	125,000	-	-	25,000	-	150,000
Tim Cowley	-	125,000	-	-	50,000	-	175,000
Sean Morris	-	-	-	-	350,000	-	350,000
Keith Evans	-	-	-	75,000		-	75,000
PDMRs	-	-	-	235,000	200,000	-	435,000
Other employees	150,000	-	-	445,000	325,000	-	920,000
TOTAL	150,000	500,000	200,000	755,000	2,050,000	425,000	4,080,000

 

Related party transaction

The Options Grant to each of the directors other than Keith Evans and Nadeem Raza is considered a related party transaction pursuant to rule 13 of the AIM Rule for companies. Accordingly, Keith Evans and Nadeem Raza who are independent directors for the purposes of the Options Grant, consider, having consulted with Arden Partners Plc, the Company's Nominated Adviser, that the terms of the Options Grant are fair and reasonable insofar as shareholders are concerned.

 

- Ends -

 

For further information:

Trakm8 Holdings plc
John Watkins, Executive Chairman	Tel: +44 (0) 167 543 4200
Jon Furber, Finance Director	www.trakm8.com
Arden Partners plc (Nominated Adviser & Broker)	Tel: +44 (0) 20 7614 5900
Paul Shackleton / Alex Penney Simon Johnson (Corporate Broking)	www.arden-partners.com

 

Media enquiries:

Buchanan
Chris Lane / Tilly Abraham	Tel: +44 (0) 20 7466 5000
[email protected]	www.buchanan.uk.com

 

About Trakm8

 

Trakm8 is a UK based technology leader in fleet management, insurance telematics, connected car, and optimisation. Through IP owned technology, the Group analyses data collected by its installed base of telematics units to fine tune the algorithms that are used to produce its' solutions; these monitor driver behaviour, identify crash events and monitor vehicle health to provide actionable insights to continuously improve the security and operational efficiency of both company fleets and private drivers.

 

The Group's product portfolio includes the latest data and reporting portal (Trakm8 Insight), integrated telematics/cameras, self-installed telematics units and one of the widest ranges of installed telematics devices. Trakm8 has over 250,000 connections.

 

Headquartered in Coleshill near Birmingham alongside its manufacturing facility, the Group supplies to the Fleet, Optimisation, Insurance and Automotive sectors to many well-known customers in the UK and internationally including the AA, Saint Gobain, EON, Iceland Foods, Direct Line Group and Young Marmalade.

 

Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.

 

www.trakm8.com / @Trakm8