REG - IDOX PLC - Director/PDMR Shareholding
28/03/2024 12:45
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RNS Number : 7526I IDOX PLC 28 March 2024
28 March 2024
Idox plc
('Idox' or the 'Group' or the 'Company')
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES ("PDMRS")
Idox plc (AIM: IDOX), a leading supplier of specialist information management
software and Geospatial data solutions to the public and asset intensive
sectors, announces that, on 28 March 2024 the following PDMRs (the "Grantees")
received conditional awards over the number of Ordinary Shares each in the
Company ("Ordinary Shares") shown below (the "Awards"), in accordance with the
rules of the Long Term Incentive Plan 2023 ("2023 LTIP").
Standard Award
Name of Director/PDMR Number of Shares Awarded Type of Award
David Meaden 566,251 Conditional
Anoop Kang 440,058 Conditional
Jonathan Legdon 444,912 Conditional
Ruth Paterson 242,682 Conditional
The vesting and holding period of each Award is subject to the rules of the
2023 LTIP and the Grantee agreeing to be bound by the terms of their Award.
The Awards will normally vest on the third anniversary of the grant date. No
consideration is payable by grantees on either the grant or vesting of the
Awards.
Three independent performance conditions will be used:
o Absolute TSR (50% weighting)
o Adjusted EPS (25% weighting)
o Revenue (25% weighting)
The performance condition applying to half of the Awards (the "TSR Part") will
measure the Company's absolute total shareholder return ("TSR") performance
over a three-year period. The measurement period for the Awards shall comprise
three consecutive financial years of the Company, starting with the 2024
financial year. No portion of the TSR Part will vest unless the Company's TSR
performance achieves a 5% CAGR over the measurement period at which point
18.75% of the TSR Part will vest, rising to 10% at which point 75% of the TSR
Part will vest and thereafter on a straight-line basis to 100% vesting for the
Company's TSR performance achieving a 12% CAGR over the measurement period.
The performance condition applying to a separate quarter of the Awards (the
"EPS Part") will measure the Company's adjusted earnings per share performance
over a three-year measurement period starting with the 2024 financial year. No
portion of the EPS Part will vest unless the Company's adjusted EPS for the
2026 financial year is 2.95p at which point 18.75% of the EPS Part will vest,
rising to 3.12p at which point 75% of the EPS Part will vest and thereafter on
a straight-line basis to 100% vesting for the Company's EPS for the 2026
financial year being 3.21p.
The performance condition applying to a separate quarter of the Awards (the
"Revenue Part") will measure the company's revenue performance over a
three-year measurement period starting with the 2024 financial year. No
portion of the Revenue Part will vest unless the Company's revenue for the
2026 financial year is £95.28m, at which point 18.75% of the Revenue part
will vest, rising to £100.78m at which point 75% of the Revenue Part will
vest and thereafter on a straight-line basis to 100% vesting for the Company's
revenue for the 2026 financial year being £103.6m.
The relevant notifications set out below are provided in accordance with the
requirements of Article 19 of the EU Market Abuse Regulation.
For further information please contact:
Idox plc +44 (0) 870 333 7101
Chris Stone, Non-Executive Chairman investorrelations@idoxgroup.com
David Meaden, Chief Executive
Anoop Kang, Chief Financial Officer
Peel Hunt LLP (NOMAD and Broker) +44 (0) 20 7418 8900
Paul Gillam
Adam Telling
MHP + 44 (0) 20 3128 8100
Reg Hoare idox@mhpgroup.com (mailto:idox@mhpgroup.com)
Ollie Hoare
Matthew Taylor
About Idox plc
For more information see www.idoxplc.com (http://www.idoxplc.com/) @Idoxgroup
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name David Meaden
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 Idox plc
b. LEI 213800Z3FE6PWVSUGE70
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
b. Nature of the transaction Conditional Award of Ordinary Shares
c. Price(s) and volume(s) Price(s) Volume(s)
n/a 566,251
d. Aggregated information Price(s) Volume(s)
n/a 566,251
· Aggregated volume
· Price
e. Date of the transaction 28 March 2024
f. Place of the transaction Outside a trading venue
d.
Aggregated information
· Aggregated volume
· Price
Price(s) Volume(s)
n/a 566,251
e.
Date of the transaction
28 March 2024
f.
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Anoop Kang
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 Idox plc
b. LEI 213800Z3FE6PWVSUGE70
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
b. Nature of the transaction Conditional Award of Ordinary Shares
c. Price(s) and volume(s) Price(s) Volume(s)
n/a 440,058
d. Aggregated information Price(s) Volume(s)
n/a 440,058
· Aggregated volume
· Price
e. Date of the transaction 28 March 2024
f. Place of the transaction Outside a trading venue
d.
Aggregated information
· Aggregated volume
· Price
Price(s) Volume(s)
n/a 440,058
e.
Date of the transaction
28 March 2024
f.
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Jonathan Ledgon
2. Reason for the notification
a. Position/status Chief Operating Officer
b. Initial notification /Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Idox plc
b. LEI 213800Z3FE6PWVSUGE70
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
b. Nature of the transaction Conditional Award of Ordinary Shares
c. Price(s) and volume(s) Price(s) Volume(s)
n/a 444,912
d. Aggregated information Price(s) Volume(s)
n/a 444,912
· Aggregated volume
· Price
e. Date of the transaction 28 March 2024
f. Place of the transaction Outside a trading venue
d.
Aggregated information
· Aggregated volume
· Price
Price(s) Volume(s)
n/a 444,912
e.
Date of the transaction
28 March 2024
f.
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Ruth Paterson
2. Reason for the notification
a. Position/status Chief Legal & Corporate Officer
b. Initial notification /Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Idox plc
b. LEI 213800Z3FE6PWVSUGE70
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
b. Nature of the transaction Conditional Award of Ordinary Shares
c. Price(s) and volume(s) Price(s) Volume(s)
n/a 242,682
d. Aggregated information Price(s) Volume(s)
n/a 242,682
· Aggregated volume
· Price
e. Date of the transaction 28 March 2024
f. Place of the transaction Outside a trading venue
d.
Aggregated information
· Aggregated volume
· Price
Price(s) Volume(s)
n/a 242,682
e.
Date of the transaction
28 March 2024
f.
Place of the transaction
Outside a trading venue
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