Grant of Options under Retention Plan

 

21 August 2020

 

Tekmar Group plc

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

 

Grant of options under Retention Plan

Tekmar Group plc a leading provider of technology and services for the global offshore energy markets, announces that the Group's Remuneration Committee has approved a new share option incentive plan, the Retention Plan, to further incentivise the executive management team.  The team have been granted awards for up to 200,000 ordinary shares of £0.01 each in the Company ("Shares"), being awarded based on length of service.  The award comprises 100,000 Shares being foregone by James Ritchie under the IPO Incentive Plan, reducing the maximum number he could acquire from 225,000 Shares to 125,000 Shares.  An additional 100,000 Shares will be made available by the Company.

 

The following Persons Discharging Managerial Responsibility ("PDMRs") have been granted options:

 

Name	Position	Number of Retention options granted	Total number of options over Ordinary Shares	Total interest in Ordinary Shares (No.)	Total interest in Ordinary Shares (%)
Alasdair MacDonald	Executive Chairman Tekmar Group plc	17,073	17,073	434,526	0.85%
Susan Hurst	Chief Financial Officer Tekmar Group plc	43,042	491,292	276,569	0.54%
Russell Edmondson	Managing Director Tekmar Energy Ltd	43,042	278,090	197,686	0.39%
Jack Simpson	Sales Director Tekmar Energy Limited	53,802	229,224	195,009	0.38%
Steven Rossiter	Chief Technology Officer Tekmar Group plc	32,281	215,291	102,564	0.20%
David Thompson	Managing Director Subsea Innovation Limited	10,760	217,872	0	0

 

Conditions

 

Shares will not be made available under the Retention Plan until on or after 1^st June 2021 at which point individuals will be entitled to acquire shares provided that:

 

a.    they remain employed at the date of acquisition; and

b.    during the period to 31 May 2021, they do not, otherwise than with the agreement of the board, sell, or other dispose of, any Shares (save, in the case of the employees other than Alasdair MacDonald and David Thompson, to meet any resulting tax liability if they exercise their rights to acquire Shares under the Company's IPO Incentive Plan).

 

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	Alasdair MacDonald
2	Reason for the notification
a)	Position/status	Executive Chairman, 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 Retention Plan
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	17073
d)	Aggregated information
	Aggregated volume	NA
	Price	NA
e)	Date of transaction	20/08/2020
f)	Place of transaction	Outside a trading venue

 

 

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 Retention Plan
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	43042
d)	Aggregated information
	Aggregated volume	NA
	Price	NA
e)	Date of transaction	20/08/2020
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 Retention Plan
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	43042
d)	Aggregated information
	Aggregated volume	NA
	Price	NA
e)	Date of transaction	20/08/2020
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 Retention Plan
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	53802
d)	Aggregated information
	Aggregated volume	NA
	Price	NA
e)	Date of transaction	20/08/2020
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 Retention Plan
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	32281
d)	Aggregated information
	Aggregated volume	NA
	Price	NA
e)	Date of transaction	20/08/2020
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 Retention Plan
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	10760
d)	Aggregated information
	Aggregated volume	NA
	Price	NA
e)	Date of transaction	20/08/2020
f)	Place of transaction	Outside a trading venue

 

Enquiries:

 

Tekmar Group plc Ally MacDonald, Executive Chairman 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 leading provider of technology and services for 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 Energy has 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 are headquartered in Newton Aycliffe in the United Kingdom; AgileTek operates from an office in London; Subsea Innovation has its head office and manufacturing centre in Darlington, United Kingdom. Ryder operates in Newcastle and within AgileTek London, Pipeshield headquarters are in Lowestoft with manufacturing in Blyth. Tekmar Group plc also has strategic bases and representation across Europe, Africa, the Middle East and Asia Pacific.