Grant of options under LTIP scheme

 

5 August 2020

 

Tekmar Group plc

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

 

Grant of options under LTIP scheme

Tekmar Group plc, a market-leading technology provider of subsea protection systems, announces that the Group's Remuneration Committee has approved three Long Term Incentive Plans ("LTIPs") to incentivise and reward management for growth in the Group's financial performance achieved in each of the next three years, ending 31 March 2023.  Management have been granted awards for up to 1,294,010 ordinary shares, representing 2.5% of the Company's issued share capital.  This is made up of three LTIPs with the following awards in each year:

 

	Ordinary shares
FY21 LTIP	391,108
FY22 LTIP	446,980
FY23 LTIP	455,922

 

The following Persons Discharging Managerial Responsibility ("PDMRs") have been granted options, covering the three years to 31 March 2023:

 

Name	Position	Number of LTIPs options granted	Total number of options over Ordinary Shares	Total interest in Ordinary Shares (No.)	Total interest in Ordinary Shares (%)
Susan Hurst	Chief Financial Officer Tekmar Group plc	360,750	448,250	276,569	0.54%
Russell Edmondson	Managing Director Tekmar Energy Ltd	182,112	235,048	197,686	0.39%
Jack Simpson	Sales Director Tekmar Energy Limited	144,172	175,422	195,009	0.38%
Steven Rossiter	Chief Technology Officer Tekmar Group plc	151,760	183,010	102,564	0.20%
Fraser Gibson	Managing Director AgileTek Engineering Limited	136,585	149,597	0	0
David Thompson	Managing Director Subsea Innovation Limited	182,112	207,112	0	0

 

Performance Conditions

 

Vesting of the options are subject to certain performance criteria which will be measured inter alia in relation to targeted earnings per share and total shareholder return.

 

The relevant notification set out below is provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.

 

1	Details of the person discharging managerial responsibility / person closely associated
a)	Name	Susan Hurst
2	Reason for the notification
a)	Position/status	Chief Financial Officer, Tekmar Group plc
b)	Initial notification/amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Tekmar Group plc
b)	LEI	213800839UQKQTV33E71
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	Ordinary shares of 0.01p each
	Identification code	GB00BDFGGK53
b)	Nature of transaction	Grant of options under the LTIP Schemes
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	360750
d)	Aggregated information
	Aggregated volume	NA
	Price	NA
e)	Date of transaction	03/08/2020
f)	Place of transaction	Outside a trading venue

 

 

1	Details of the person discharging managerial responsibility / person closely associated
a)	Name	Russell Edmondson
2	Reason for the notification
a)	Position/status	Managing Director, Tekmar Energy Limited
b)	Initial notification/amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Tekmar Group plc
b)	LEI	213800839UQKQTV33E71
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	Ordinary shares of 0.01p each
	Identification code	GB00BDFGGK53
b)	Nature of transaction	Grant of options under the LTIP Schemes
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	182112
d)	Aggregated information
	Aggregated volume	NA
	Price	NA
e)	Date of transaction	03/08/2020
f)	Place of transaction	Outside a trading venue

1	Details of the person discharging managerial responsibility / person closely associated
a)	Name	Jack Simpson
2	Reason for the notification
a)	Position/status	Sales Director, Tekmar Energy Limited
b)	Initial notification/amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Tekmar Group plc
b)	LEI	213800839UQKQTV33E71
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	Ordinary shares of 0.01p each
	Identification code	GB00BDFGGK53
b)	Nature of transaction	Grant of options under the LTIP Schemes
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	144172
d)	Aggregated information
	Aggregated volume	NA
	Price	NA
e)	Date of transaction	03/08/2020
f)	Place of transaction	Outside a trading venue

1	Details of the person discharging managerial responsibility / person closely associated
a)	Name	Steven Rossiter
2	Reason for the notification
a)	Position/status	Chief Technology Officer, Tekmar Group plc
b)	Initial notification/amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Tekmar Group plc
b)	LEI	213800839UQKQTV33E71
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	Ordinary shares of 0.01p each
	Identification code	GB00BDFGGK53
b)	Nature of transaction	Grant of options under the LTIP Schemes
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	151760
d)	Aggregated information
	Aggregated volume	NA
	Price	NA
e)	Date of transaction	03/08/2020
f)	Place of transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibility / person closely associated
a)	Name	Fraser Gibson
2	Reason for the notification
a)	Position/status	Managing Director, AgileTek Engineering Limited
b)	Initial notification/amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Tekmar Group plc
b)	LEI	213800839UQKQTV33E71
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	Ordinary shares of 0.01p each
	Identification code	GB00BDFGGK53
b)	Nature of transaction	Grant of options under the LTIP Schemes
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	136585
d)	Aggregated information
	Aggregated volume	NA
	Price	NA
e)	Date of transaction	03/08/2020
f)	Place of transaction	Outside a trading venue

 

 

1	Details of the person discharging managerial responsibility / person closely associated
a)	Name	David Thompson
2	Reason for the notification
a)	Position/status	Managing Director, Subsea Innovation Limited
b)	Initial notification/amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Tekmar Group plc
b)	LEI	213800839UQKQTV33E71
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	Ordinary shares of 0.01p each
	Identification code	GB00BDFGGK53
b)	Nature of transaction	Grant of options under the LTIP Schemes
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	182112
d)	Aggregated information
	Aggregated volume	NA
	Price	NA
e)	Date of transaction	03/08/2020
f)	Place of transaction	Outside a trading venue

 

Enquiries:

 

Tekmar Group plc James Ritchie-Bland, Chief Executive Officer Sue Hurst, Chief Financial Officer	+44 (0)1325 379 520
Grant Thornton UK LLP (Nominated Adviser) Philip Secrett / Jen Clarke	+44 (0)20 7383 5100
Berenberg (Broker) Chris Bowman / Ben Wright / Richard Salmond	+44 (0)20 3207 7800
Belvedere Communications (Financial PR) Cat Valentine Keeley Clarke	[email protected] +44 (0) 7715 769 078 +44 (0) 7967 816 525

 

About Tekmar Group plc - www.tekmargroup.com

 

Tekmar Group plc's vision is to be the partner of choice for the supply and installation support of subsea protection equipment to the global offshore energy markets. The Group has five primary operating companies; these are Tekmar Energy Limited, Subsea Innovation Limited, AgileTek Engineering Limited, Ryder Geotechnical Limited and Pipeshield International limited.

 

Tekmar Energy is a global market leader in protection systems for subsea cable, umbilical and flexible pipe. Tekmar have been trusted to protect billions of Euros worth of assets in the offshore wind, oil & gas, wave, tidal and interconnector markets since 1985.

 

Subsea Innovation is a global leader in the design, manufacture and supply of complex engineered equipment and technology used in the offshore energy market. Its products include large equipment handling systems which operate on the back of pipelay installation vessels; emergency pipeline repair clamps (EPRC) which protect major oil and gas pipelines, and bespoke equipment for use in the construction of offshore energy projects.

 

AgileTek Engineering is an award-winning subsea engineering consultancy for offshore energy projects. AgileTek helps its clients de-risk projects through advanced computer simulation and analysis.  AgileDat, a division of AgileTek, provides software development, cloud architecture and data analytics services. 

 

Ryder Geotechnical provides expert geotechnical design and consulting services to the offshore wind and subsea oil and gas sectors. Services include offshore structure foundation design, geohazard assessment and subsea cable routing and burial assessment.

 

Pipeshield International is a market leading provider of specialised subsea protection solutions in the form of concrete mattresses used for the stabilisation and impact protection of subsea equipment in areas where they cannot be buried and further to limit the development of scour (seabed erosion) particularly local to that of a foundation, pipeline or in marine ports.

 

Tekmar Energy and Tekmar Group plc is headquartered in Newton Aycliffe in the United Kingdom; AgileTek operates from an office in London; Subsea Innovation have their head office and manufacturing centre in Darlington, United Kingdom. Ryder operate in Newcastle and within AgileTek London, Pipeshield headquarters are in Lowestoft with manufacturing in Blyth. Tekmar Group plc also has representation in South Korea, USA, China and the Middle East.