REG - Filtronic PLC - Grant of Options

FiltronicAnnouncement

01/12/2023 16:45

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RNS Number : 4596V  Filtronic PLC  01 December 2023

1 December 2023

 

Filtronic plc

 ("Company")

 

Grant of Options

 

Filtronic plc (AIM: FTC), the designer and manufacturer of products for
the aerospace, defence, telecoms infrastructure, space and critical
communications markets, announces that on 30 November 2023, the Board,
following the recommendation from the Remuneration Committee, granted new
share options ("the Options") to the following director under the existing
Filtronic plc Employee Share Option Plan 2020 ("the ESOP").

 

The vesting of these options is based on achieving certain performance
criteria in the three years prior to vesting. The performance criteria under
the ESOP are based on share price growth and adjusted earnings before
interest, taxation, depreciation, amortisation and exceptional items
("adjusted EBITDA"), in the three-year vesting period. The exercise price for
the Options is 17.25 pence per share being the Company's closing mid-market
share price on 29 November 2023. The Options lapse on the tenth anniversary of
the date of grant and no option can be exercised before the third anniversary
of the date of grant.

 

 Director/PDMR             Options prior to Grant  Options granted  Resultant ESOP holdings
 Michael Tyerman           779,988                 1,370,012        2,150,000

 Chief Financial Officer

 

The Remuneration Committee keeps the ESOP scheme under regular review with the
timing of grant award varying dependent on previous issue of share options to
directors and employees.

 

Enquiries:

 Filtronic plc                                              Tel. 01740 618800 or investor.relations@filtronic.com
                                                            (mailto:investor.relations@filtronic.com)
 Richard Gibbs (Chief Executive Officer)
 Michael Tyerman (Chief Financial Officer)

 Cavendish Capital Markets Limited                          Tel. 020 7220 0500
 Jonny Franklin-Adams/George Dollemore (Corporate Finance)
 Sunila de Silva (ECM)

 Walbrook PR Limited                                        Tel. 020 7933 8780 or filtronic@walbrookpr.com
                                                            (mailto:filtronic@walbrookpr.com)
 Paul Vann                                                  Mob. 07768 807 631

 

 

 

Further details of the PDMR dealing are included below. This information has
been provided in accordance with Article 5(1)(b) of the Market Abuse
Regulation (EU) No 596/2014 which is part of UK law by virtue of the European
Union (Withdrawal) Act 2018.

 1.                                Details of the person discharging managerial responsibilities / person closely
                                   associated
 a)                                Name                                                         Michael Tyerman
 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                                                         Filtronic plc
 b)                                LEI                                                          213800PDQ9V2ZNCDO264
 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 0.1p each

                                   Identification code                                          GB0003362992
 b)                                Nature of the transaction                                    Grant of 1,370,012 options under the Filtronic plc Employee Share Option Plan
                                                                                                2020
 c)                                Price(s) and volume(s)                                       Price(s)     Volume(s)
                                                                                                17.25 pence  1,370,012

 
 d)                                Aggregated information:

                                   ·      Aggregated volume                                     n/a (single transaction)

                                   ·      Price
 e)                                Date of the transaction                                      30 November 2023
 f)                                Place of the transaction                                     London Stock Exchange, AIM Market

 

3.

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

a)

Name

Filtronic plc

b)

LEI

213800PDQ9V2ZNCDO264

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 0.1p each

 

Identification code

GB0003362992

b)

Nature of the transaction

Grant of 1,370,012 options under the Filtronic plc Employee Share Option Plan
2020

c)

Price(s) and volume(s)

 Price(s)     Volume(s)
 17.25 pence  1,370,012

 

d)

Aggregated information:

·      Aggregated volume

·      Price

 

n/a (single transaction)

e)

Date of the transaction

30 November 2023

f)

Place of the transaction

London Stock Exchange, AIM Market

 

 

 

 

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