REG - CML Microsystems PLC - Cancellation of Share Options

CML MicrosystemsAnnouncement

10/02/2021 09:05

RNS Number : 6011O
  
CML Microsystems PLC
  
10 February 2021
  
 

CML Microsystems Plc
(The 'Company')
Cancellation of Share Options
The Company announces that 57,000 share options over ordinary shares of 5 pence each (the "Ordinary Shares") granted to two PDMRs of the Company (the "Options") were cancelled on 9 February 2021 at the election of the option holders in return for the payment of a one-off cash sum.
 
Details of the cancellation of the Options are set out below:
 



PDMR


Role


  Number of options being surrendered


Option exercise price (£)


Cash payment (£)


























C A Gurry


Group Managing Director


20,000


£2.20


£32,400


























H Rudden


Group Sales and Marketing Director


12,000


£3.125


£8,340












25,000


£3.475


£8,625

























 
The cash sum paid has been calculated by reference to the closing price of £3.82 per Ordinary Share, being the closing share price on 9 February 2021. Following this cancellation, the remaining share options held by the two PDMRs are set out below:
 



PDMR


Role


  Number of options remaining


Option exercise price (£)


Exercise date




C A Gurry


Group Managing Director


30,000


£3.51


15 Sept 2018 to 25 Sept 2025












75,000


£2.79


19 Mar 2022 to 18 Mar 2029


























H Rudden


Group Sales and Marketing Director


55,000


£5.20


28 Mar 2021 to 28 Mar 2028












75,000


£2.79


19 Mar 2022 to 18 Mar 2029

























 
Other share options remain over a total of 1,332,226 Ordinary Shares. These options are exercisable at various prices of between £2.20 and £5.20 and carry expiry dates ranging to 18 March 2029.
 
 



CML Microsystems Plc
Chris Gurry, Group Managing Director
Nigel Clark, Group Chairman & Financial Director
 


www.cmlmicroplc.com

Tel: +44 (0) 1621 875 500




Shore Capital
Edward Mansfield
James Thomas
Fiona Conroy - Corporate Broking
 


Tel: +44 (0) 20 7408 4090




SP Angel Corporate Finance LLP
Jeff Keating
 


Tel: +44 (0) 203 463 2260




Alma PR
Josh Royston
Caroline Forde
Robyn Fisher
 


Tel: +44 (0) 20 3405 0205
 



 
About CML Microsystems PLC
CML develops mixed-signal, RF and microwave semiconductors for global communications markets. The Group utilises a combination of outsourced manufacturing and in-house testing with trading operations in the UK, Asia and USA. CML targets sub-segments within Communication markets with strong growth profiles and high barriers to entry. It has secured a diverse, blue chip customer base, including some of the world's leading commercial and industrial product manufacturers. 
The spread of its customers and diversity of the product range largely protects the business from the cyclicality usually associated with the semiconductor industry. Growth in its end markets is being driven by factors such as the appetite for data to be transmitted faster and more securely, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial wireless networks for voice and/or data communications linked to the industrial internet of things (IIoT). 
The Group is cash-generative, has no debt and is dividend paying.
 
 

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