REG - Eleco PLC - Issue of Options

ElecoAnnouncement

02/08/2022 07:15

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RNS Number : 5231U  Eleco PLC  02 August 2022

2 August 2022

Eleco Plc

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

 

Issue of Options

The Board of Eleco plc (AIM: ELCO), the AIM-listed construction software
specialist, advises that on 1 August 2022 the Company issued a total of
750,000 options to subscribe for new ordinary shares of 1p 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 are market priced options, which have no vesting criteria other than
to remain in employment by the Group and shall vest after a 3-year vesting
period. 100,000 are nominal cost options which shall vest after 3 years if
certain performance criteria related to recurring revenue growth, overall
revenue growth and share price growth are met. To fully vest, Eleco will need
to achieve significant revenue growth from current levels and will need to
outperform against current market forecasts.

The remaining 500,000 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 a 3-year vesting
period.

All market priced options are exercisable at 70 pence. All Options will expire
on 31 July 2032. Details of 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         850,000
 Birgit Lenton    100,000         100,000
 Luben Kirov      100,000         100,000

Following the issue of the Options, the total number of options in issue post
award is 2,750,000, representing approximately 3.3% of the Company's issued
share capital.

 

Enquiries:

 

 Eleco plc                                                        +44 (0)20 7422 8000
 Jonathan Hunter, Chief Executive Officer
 Rose Clark, Interim CFO

 finnCap Limited                                                  +44 (0)20 7220 0500
 Geoff Nash / Kate Bannatyne / James Balicki (Corporate Finance)
 Richard Chambers / Charlotte Sutcliffe (ECM)

 SEC Newgate UK                                                   +44 (0)20 3757 6882
 Elisabeth Cowell / Bob Huxford / Isabelle Smurfit                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 Architectural, Engineering, Construction
and Owner/Operator (AECO) industries and interior furnishing industries from
centres of excellence in the UK, Sweden, Germany and the Netherlands.

The Company's market-leading Elecosoft software solutions are developed by
teams in the United Kingdom, Sweden and Germany, and its solutions cover
project management, estimating, timber engineering, CAD and visualisation,
asset and facility management and cloud-based digital marketing solutions.

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

                                                                                       70p                  150,000
 d)  Aggregated information:

     Aggregated volume                                            250,000

     Price                                                        £106,000
 e)  Date of the transaction                                      1 August 2022
 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        70p                  100,000

 d)  Aggregated information:

     Aggregated volume                                            100,000

     Price                                                        £70,000
 e)  Date of the transaction                                      1 August 2022
 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          70p                  100,000

 d)  Aggregated information:

     Aggregated volume                                            100,000

     Price                                                        £70,000
 e)  Date of the transaction                                      1 August 2022
 f)  Place of the transaction                                     Outside of a trading venue

 

 

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