Option amendments and grant of options

 

 

20 November 2019

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain

 

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

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

Director/PDMR Shareholdings - Option amendments and Grant of Options

Symphony Environmental Technologies Plc (AIM: SYM), a global specialist in products and technologies that "make plastic and rubber products smarter", announces certain amendments to options held by directors of the Company, and also the grant of options to Shaun Robinson and Robert Wigley.

Extension of exercise period of existing options

The Company had previously granted options to purchase 8,441,500 ordinary shares of 1p each in the Company ("Ordinary Shares") to certain directors of the Company (the "Options").  The Options are due to expire across 2019 and 2020. 

Robert Wigley and Shaun Robinson, non-executive directors of the Company, commissioned an independent remuneration report on the impact of extending or not extending the Options.  The report concluded that it was in the best interests of all shareholders that the exercise period of the Options be extended.  Consequently, Mr. Wigley and Mr. Robinson recommended to the Board, who agreed, that the expiry dates of the Options be extended by 12 or 24 months, and in addition, the exercise price of Options to purchase 1,090,000 Ordinary Shares has also been increased. See PDMR disclosure tables below for further information.  All other terms of the Options remain the same.

Decreased exercise price of existing options

The Company has agreed to decrease the exercise price of options previously granted to Robert Wigley in 2018 to 12.5 pence per Ordinary Share, which is still a 61% premium to the closing price on 18 November 2019. See PDMR disclosure tables below for further information. All other terms of these options remain the same.

Grant of new Options

The Company has also granted options to purchase 1,500,000 Ordinary Shares at an exercise price of 12.5 pence per Ordinary Share to Shaun Robinson and options to purchase 250,000 Ordinary Shares at an exercise price of 12.5 pence per Ordinary Share to Robert Wigley. See PDMR disclosure tables below for further information.

 

 Enquiries

Symphony Environmental Technologies Plc
Michael Laurier, CEO	Tel: +44 (0) 20 8207 5900
Ian Bristow, CFO
www.symphonyenvironmental.com
Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker)
David Foreman, Michael Boot (Corporate Finance)	Tel: +44 (0) 20 7894 7000
Caspar Shand Kydd, Maisie Atkinson (Sales)
Hybridan LLP (Joint Broker) Claire Louise Noyce	Tel: +44 (0) 203 764 2341

 

Notification and public disclosure of transactions by Persons Discharging Managerial Responsibilities ("PDMR") and persons closely associated with them ("PCA")

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Michael Laurier
2	Reason for notification
a.	Position/Status	PDMR Director of Symphony Environmental Technologies plc
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Symphony Environmental Technologies plc
b.	LEI	N/A
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 Identification Code	Options over Ordinary Shares of 1p each ISIN: GB0009589168
b.	Nature of the transaction	Extension of option exercise period from 26 November 2019 to 26 November 2021
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			n/a	1,851,500
d.	Aggregated information - Aggregated Volume - Price	Volume: 1,851,500 Price:  n/a
e.	Date of the transaction	19 November 2019
f.	Place of the transaction	Outside of trading venue

 

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Ian Bristow
2	Reason for notification
a.	Position/Status	PDMR Director of Symphony Environmental Technologies plc
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Symphony Environmental Technologies plc
b.	LEI	N/A
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 Identification Code	Options over Ordinary Shares of 1p each ISIN: GB0009589168
b.	Nature of the transaction	Extension of option exercise period from 26 November 2019 to 26 November 2021
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			n/a	3,000,000
d.	Aggregated information - Aggregated Volume - Price	Volume: 3,000,000 Price:  n/a
e.	Date of the transaction	19 November 2019
f.	Place of the transaction	Outside of trading venue

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Michael Stephen
2	Reason for notification
a.	Position/Status	PDMR Director of Symphony Environmental Technologies plc
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Symphony Environmental Technologies plc
b.	LEI	N/A
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 Identification Code	Options over Ordinary Shares of 1p each ISIN: GB0009589168
b.	Nature of the transaction	Extension of option exercise period from 26 November 2019 to 26 November 2020
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			n/a	2,000,000
d.	Aggregated information - Aggregated Volume - Price	Volume: 2,000,000 Price:  n/a
e.	Date of the transaction	19 November 2019
f.	Place of the transaction	Outside of trading venue

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Nicolas Clavel
2	Reason for notification
a.	Position/Status	PDMR Director of Symphony Environmental Technologies plc
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Symphony Environmental Technologies plc
b.	LEI	N/A
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 Identification Code	Options over Ordinary Shares of 1p each ISIN: GB0009589168
b.	Nature of the transaction	Extension of option exercise period from 26 November 2019 to 26 November 2021
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			n/a	500,000
d.	Aggregated information - Aggregated Volume - Price	Volume: 500,000 Price:  n/a
e.	Date of the transaction	19 November 2019
f.	Place of the transaction	Outside of trading venue

 

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Michael Laurier
2	Reason for notification
a.	Position/Status	PDMR Director of Symphony Environmental Technologies plc
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Symphony Environmental Technologies plc
b.	LEI	N/A
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 Identification Code	Options over Ordinary Shares of 1p each ISIN: GB0009589168
b.	Nature of the transaction	Extension of option exercise period from 30 March 2020 to 30 March 2022 and increase in exercise price from 9.125p to 12.5p
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			12.5p	350,000
d.	Aggregated information - Aggregated Volume - Price	Volume: 350,000 Price:  12.5p
e.	Date of the transaction	19 November 2019
f.	Place of the transaction	Outside of trading venue

 

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Ian Bristow
2	Reason for notification
a.	Position/Status	PDMR Director of Symphony Environmental Technologies plc
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Symphony Environmental Technologies plc
b.	LEI	N/A
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 Identification Code	Options over Ordinary Shares of 1p each ISIN: GB0009589168
b.	Nature of the transaction	Extension of option exercise period from 30 March 2020 to 30 March 2022 and increase in exercise price from 9.125p to 12.5p
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			12.5p	280,000
d.	Aggregated information - Aggregated Volume - Price	Volume: 280,000 Price:  n/a
e.	Date of the transaction	19 November 2019
f.	Place of the transaction	Outside of trading venue

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Michael Stephen
2	Reason for notification
a.	Position/Status	PDMR Director of Symphony Environmental Technologies plc
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Symphony Environmental Technologies plc
b.	LEI	N/A
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 Identification Code	Options over Ordinary Shares of 1p each ISIN: GB0009589168
b.	Nature of the transaction	Extension of option exercise period from 30 March 2020 to 30 March 2022 and increase in exercise price from 9.125p to 12.5p
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			12.5p	210,000
d.	Aggregated information - Aggregated Volume - Price	Volume: 210,000 Price:  12.5p
e.	Date of the transaction	19 November 2019
f.	Place of the transaction	Outside of trading venue

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Nicolas Clavel
2	Reason for notification
a.	Position/Status	PDMR Director of Symphony Environmental Technologies plc
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Symphony Environmental Technologies plc
b.	LEI	N/A
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 Identification Code	Options over Ordinary Shares of 1p each ISIN: GB0009589168
b.	Nature of the transaction	Extension of option exercise period from 18 December 2019 to 18 December 2021 and increase in exercise price from 9.875p to 12.5p
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			12.5p	250,000
d.	Aggregated information - Aggregated Volume - Price	Volume: 250,000 Price:  12.5p
e.	Date of the transaction	19 November 2019
f.	Place of the transaction	Outside of trading venue

 

 

1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Robert Wigley
2	Reason for notification
a.	Position/Status	PDMR Director of Symphony Environmental Technologies plc
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Symphony Environmental Technologies plc
b.	LEI	N/A
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 Identification Code	Options over Ordinary Shares of 1p each ISIN: GB0009589168
b.	Nature of the transaction	Reduction in exercise price from 20.25 pence to 12.5 pence per share
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			12.5p	750,000
d.	Aggregated information - Aggregated Volume - Price	Volume: 750,000 Price: 12.5p
e.	Date of the transaction	19 November 2019
f.	Place of the transaction	Outside of trading venue

 

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Shaun Robinson
2	Reason for notification
a.	Position/Status	PDMR Director of Symphony Environmental Technologies plc
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Symphony Environmental Technologies plc
b.	LEI	N/A
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 Identification Code	Options over Ordinary Shares of 1p each ISIN: GB0009589168
b.	Nature of the transaction	Grant of option
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			12.5p	1,500,000
d.	Aggregated information - Aggregated Volume - Price	Volume: 1,500,000 Price: 12.5p
e.	Date of the transaction	19 November 2019
f.	Place of the transaction	Outside of trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Robert Wigley
2	Reason for notification
a.	Position/Status	PDMR Director of Symphony Environmental Technologies plc
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Symphony Environmental Technologies plc
b.	LEI	N/A
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 Identification Code	Options over Ordinary Shares of 1p each ISIN: GB0009589168
b.	Nature of the transaction	Grant of option
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			12.5p	250,000
d.	Aggregated information - Aggregated Volume - Price	Volume: 250,000 Price: 12.5p
e.	Date of the transaction	19 November 2019
f.	Place of the transaction	Outside of trading venue