REG - Crimson Tide PLC - Grant of Options under the Company's EMI Scheme

Crimson TideAnnouncement

22/12/2020 10:45

RNS Number : 5309J
  
Crimson Tide PLC
  
22 December 2020
  
 

Crimson Tide plc
("Crimson Tide" or "Company")
 
Grant of Options under the Company's EMI Scheme
 
Crimson Tide plc, the provider of the mpro5 mobility platform, announces a grant of options over ordinary shares in the Company ("Options") under the Company's Enterprise Management Incentive Scheme ("EMI Scheme"):
 



Director


Options granted under the EMI Scheme




Luke Jeffrey (CEO)


7,500,000




Peter Hurter (Finance Director & Company Secretary)


4,600,000




Toby Hawkins (Sales & Marketing Director)


4,600,000



 
A further 8,000,000 Options in aggregate have been granted to other employees bringing the total number of options now outstanding to 24,700,000 representing 5.4 percent of the Company's current issued share capital.  
 
Today's award follows the expiry in May this year of the last tranche of options previously issued by the Company, made in May 2010.  At that time, options over 35.5m shares were in issue. In making these awards and setting the performance criteria, the remuneration committee has considered the historic performance of the directors and employees during the period when no awards were made as well as having regard to the need to provide forward looking performance criteria, aligned closely to the achievement of future growth targets in line with the Board's long-term strategy.
 
Accordingly, the above grants may be exercised in whole or in part in accordance with the Company's EMI Share Option Plan provided the established performance criteria have been met. All options are exercisable between 3 and 10 years following the date of grant. The options become exercisable on the share price exceeding 4.5 pence per share for any five consecutive business days.  
 
The following notification, made in accordance with the requirements of the EU Market Abuse Regulation, gives further details on the grant of Options to PDMRs.
 



1 


Details of the person discharging managerial responsibilities/person closely associated 




a)


Name


i)            Luke Jeffrey
ii)           Peter Hurter
iii)          Toby Hawkins
 








Reason for the notification 




a)


Position/status


i)                     Chief Executive Officer
ii)                   Finance director & Company Secretary
iii)                 Sales and Marketing director
 




b)


Initial notification/ Amendment


Initial Notification




3 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 




a)


Name


Crimson Tide plc




b)


LEI


213800YUNLNBVYR3G129




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 0.1p each
 
 
 
n/a




b)


Nature of the transaction


Grant of options under EMI scheme
 




c)


Price(s) and volume(s)





Price(s) 


Volume(s) 




i)           n/a
ii)          n/a
iii)          n/a
 


i)                     7,500,000
ii)                   4,600,000
iii)                 4,600,000
 



 




d)


Aggregated information
-     Aggregated volume
-     Price


 
16,700,000
Nil
 




e)


Date of the transaction


22nd December 2020




f)


Place of the transaction


Tunbridge Wells



 
For further information:
Crimson Tide plc
Barrie Whipp / Luke Jeffrey
01892 542 444
finnCap Ltd (Nominated Adviser and Broker)
Julian Blunt / James Thompson - Corporate Finance
Andrew Burdis - Corporate Broking
020 7220 0500
Alma PR
Josh Royston / Harriet Jackson
020 3405 0213
For further information on Crimson Tide plc, see the website at: www.crimsontide.co.uk/
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

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