REG - Journeo PLC - Establishment of Long-Term Incentive Plan

JourneoAnnouncement

19/09/2024 07:00

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RNS Number : 7699E  Journeo PLC  19 September 2024

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the UK version of the EU
Market Abuse Regulation (2014/596) which is part of UK law by virtue of the
European Union (Withdrawal) Act 2018, as amended and supplemented from time to
time.

 

19 September 2024

 

Journeo plc

("Journeo" or the "Company")

 

Establishment of Long-Term Incentive Plan

Grant of Awards

&

PDMR Dealings

 

Journeo plc (AIM: JNEO), a leading provider of intelligent transport solutions
to operators and authorities across the UK and Scandinavia, announces the
establishment of a new long-term incentive plan (the "LTIP") and the granting
of awards pursuant to the LTIP.

 

The Board recognises the importance of equity incentive schemes as a means to
incentivise the Company's executive board members, wider senior management
team and employees, ensuring alignment with the objectives of the Group and
its shareholders. Awards made under the LTIP are in the form of nominal cost
share options subject to the achievement of certain performance criteria
("LTIP Awards"), or market value options subject to performance criteria
pursuant to a company share option ("CSOP Options and Market Value Options").

 

LTIP Awards

The Company announces that it has granted LTIP Awards over 115,000 new
Ordinary Shares pursuant to the LTIP as follows:

 

 Director/PDMR   Position  Exercise Price  LTIP Awards granted (over equivalent number of new Ordinary Shares)  Performance criteria
 Russ Singleton  CEO       6.5p per share  70,000                                                               Company's share price to exceed an average of £6.00 over a 90-day period
                                                                                                                before 19 September 2027
 Nick Lowe       CFO       6.5p per share  45,000                                                               Company's share price to exceed an average of £6.00 over a 90-day period
                                                                                                                before 19 September 2027

 

 

The LTIP Awards have an exercise price of 6.5p per share, being the nominal
value of Ordinary Shares and vest immediately upon the achievement of the
performance criteria detailed above.

 

Awards - CSOP Options and Market Value Options

The Company also announces the grant of CSOP Options and Market Value Options
over a maximum of 195,000 new Ordinary Shares to certain other employees. The
CSOP Options and Market Value Options are exerciseable at a price of 301p per
share from 1 January 2027, subject to the achievement of a profit before tax
threshold for FY2024.

 

Following the grant of these awards, the Company has a total of 1,092,083
Ordinary Shares under option or subject to award, representing approximately 7
per cent. of its issued share capital.

 

Related party transaction

 

The grant of the LTIP Awards constitutes a related party transaction for the
purposes of AIM Rule 13. The independent directors (excluding Russ Singleton
and Nick Lowe) consider, having consulted with the Company's nominated
adviser, that the terms of the transaction are fair and reasonable insofar as
its shareholders are concerned.

 

For further information please contact:

 

 Journeo plc                                +44 (0) 203 651 9166

 Russ Singleton, Chief Executive Officer

 Nick Lowe, Chief Financial Officer

 Cavendish Capital Markets Limited         +44 (0) 207 220 0500

 Nominated Adviser and Broker
 Katy Birkin / Callum Davidson

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Russ Singleton
 2   Reason for the notification
 a)  Position/status                                              CEO
 b)  Initial notification/Amendment                               Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Journeo plc
 b)  LEI                                                          213800TKF7L4IEV9W867
 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  LTIP Awards over new ordinary shares of 6.5 pence each
     Identification code                                          GB00BKP51V79
 b)  Nature of the transaction                                    Grant of LTIP Awards
 c)  Price(s) and volumes(s)                                      Price(s)                      Volume(s)
     Exercise price of 6.5p per share                                                           70,000
 d)  Aggregated information
     Aggregated volume                                            N/A single transaction
     Price                                                        N/A single transaction
 e)  Date of the transaction                                      18 September 2024
 f)  Place of the transaction                                     Outside a trading venue

 

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Nick Lowe
 2   Reason for the notification
 a)  Position/status                                              CFO
 b)  Initial notification/Amendment                               Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Journeo plc
 b)  LEI                                                          213800TKF7L4IEV9W867
 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  LTIP Awards over new ordinary shares of 6.5 pence each
     Identification code                                          GB00BKP51V79
 b)  Nature of the transaction                                    Grant of LTIP Awards
 c)  Price(s) and volumes(s)                                      Price(s)                      Volume(s)
     Exercise price of 6.5p per share                                                           45,000
 d)  Aggregated information
     Aggregated volume                                            N/A single transaction
     Price                                                        N/A single transaction
 e)  Date of the transaction                                      18 September 2024
 f)  Place of the transaction                                     Outside a trading venue

 

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