REG - Eleco PLC - Grant of Options
12/05/2023 07:00
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RNS Number : 1728Z Eleco PLC 12 May 2023
12 May 2023
Eleco Plc
("Eleco", "Group" or the "Company")
Grant of Options
Eleco plc (AIM: ELCO), the AIM-listed construction and building software
specialist, announces that on 11 May 2023 the Remuneration Committee granted a
total of 975,000 options over ordinary shares of 1 pence each (the "Ordinary
Shares") in the Company under the Eleco 2014 Share Option Plan (the
"Options").
250,000 Options were granted to Jonathan Hunter, CEO of the Company. Of these,
150,000 Options are market priced, which have no vesting criteria other than
to remain in employment by the Group and shall vest after 3 years. 100,000
Options are nominal cost options which shall vest after 3 years if certain
performance criteria related to recurring revenue growth and overall revenue
growth are met. To fully vest, Eleco will need to deliver significant revenue
growth from current levels.
275,000 Options were granted Neil Pritchard, CFO of the Company. Of these,
100,000 are market priced options, which have no vesting criteria other than
to remain in employment by the Group and shall vest after 3 years. A further
100,000 Options are market-priced, awarded as part of his original contract.
75,000 Options are nominal cost which shall vest after 3 years if certain
performance criteria related to recurring revenue growth and overall revenue
growth are met. To fully vest, Eleco will need to achieve significant revenue
growth from current levels.
The remaining 450,000 Options were granted to various employees of the
Company, which are market priced options with no vesting criteria other than
to remain in employment by the Group and shall vest after 3-years.
All market priced options are exercisable at 80.5 pence. All Options will
lapse on 10 May 2033. Details of Directors and Persons Discharging Managerial
Responsibility ("PDMR") awards are included in the disclosure notices at the
end of this announcement.
Director/PDMR Options issued Total options held post issue
Jonathan Hunter 250,000 1,100,000
Neil Pritchard 275,000 275,000
Birgit Lenton 60,000 160,000
Luben Kirov 60,000 160,000
Following the issue of the Options, the total number of options in issue post
award is 3,625,000, representing approximately 4.4% of the Company's issued
share capital.
Enquiries:
Eleco plc +44 (0)20 7422 8000
Jonathan Hunter, Chief Executive Officer
Neil Pritchard, Chief Financial Officer
finnCap Limited +44 (0)20 7220 0500
Geoff Nash / Emily Watts / Seamus Fricker (Corporate Finance)
Charlotte Sutcliffe / Harriet Ward (Equity Capital Markets)
SEC Newgate UK +44 (0)20 3757 6882
Elisabeth Cowell / Bob Huxford eleco@secnewgate.co.uk (mailto:eleco@secnewgate.co.uk)
About Eleco plc
Eleco plc is an AIM-listed (AIM: ELCO) specialist international provider of
software and related services to the built environment through its operating
brands Elecosoft and Veeuze from centres of excellence in the UK, Sweden,
Germany, the Netherlands and the US.
The Company's software solutions are trusted by international customers and
used throughout the building lifecycle from early planning and design stages
to construction, interior fit out, asset management and facilities management
to support project management, estimation, visualisation, Building Information
Modelling (BIM) and property management.
For further information please visit www.eleco.com (http://www.eleco.com) .
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them
1. Details of PDMR / person closely associated with them ('PCA')
a) Name Jonathan Hunter
2. Reason for the Notification
a) Position / status Chief Executive Officer
b) Initial notification /amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Eleco plc
b) LEI 21380016GT9Z6ZQX4T37
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 1p each
Identification code GB0003081246
b) Nature of the transaction Grant of options
c) Price(s) and volume(s) Name Price(s) Volume(s)
Jonathan Hunter 1p 100,000
80.5p 150,000
d) Aggregated information: n/a
Aggregated volume
Price
e) Date of the transaction 11 May 2023
f) Place of the transaction Outside of a trading venue
1. Details of PDMR / person closely associated with them ('PCA')
a) Name Neil Pritchard
2. Reason for the Notification
a) Position / status Chief Financial Officer
b) Initial notification /amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Eleco plc
b) LEI 21380016GT9Z6ZQX4T37
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 1p each
Identification code GB0003081246
b) Nature of the transaction Grant of options
c) Price(s) and volume(s) Name Price(s) Volume(s)
Neil Pritchard 1p 75,000
80.5p 200,000
d) Aggregated information:
Aggregated volume n/a
Price
e) Date of the transaction 11 May 2023
f) Place of the transaction Outside of a trading venue
1. Details of PDMR / person closely associated with them ('PCA')
a) Name Birgit Lenton
2. Reason for the Notification
a) Position / status Group Transformation Director / PDMR
b) Initial notification /amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Eleco plc
b) LEI 21380016GT9Z6ZQX4T37
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 1p each
Identification code GB0003081246
b) Nature of the transaction Grant of options
c) Price(s) and volume(s) Name Price(s) Volume(s)
Birgit Lenton 80.5p 60,000
d) Aggregated information:
Aggregated volume n/a
Price
e) Date of the transaction 11 May 2023
f) Place of the transaction Outside of a trading venue
1. Details of PDMR / person closely associated with them ('PCA')
a) Name Luben Kirov
2. Reason for the Notification
a) Position / status Chief Technology Officer / PDMR
b) Initial notification /amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Eleco plc
b) LEI 21380016GT9Z6ZQX4T37
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 1p each
Identification code GB0003081246
b) Nature of the transaction Grant of options
c) Price(s) and volume(s) Name Price(s) Volume(s)
Luben Kirov 80.5p 60,000
d) Aggregated information: n/a
Aggregated volume
Price
e) Date of the transaction 11 May 2023
f) Place of the transaction Outside of a trading venue
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