REG - K3 Bus Tech Grp PLC - K3 LTIP Option Scheme

K3 Business TechnologyAnnouncement

18/05/2022 17:30

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RNS Number : 0101M  K3 Business Technology Group PLC  18 May 2022

 

18 May 2022

AIM: KBT

 

K3 Business Technology Group plc

 

("K3", "Company" or "Group")

 

K3 LTIP Option Scheme

 

K3, which provides business‐critical software solutions focused on fashion
and apparel brands, announces that its Remuneration Committee ("RemCo") has
today granted 587,500 new options to certain Persons Discharging Managerial
Responsibilities ("PDMRs") ("Share Options"). These grants have been made
under the terms of the K3 Long Term Incentive Plan 2020 adopted on 12 November
2020 (the "LTIP") and together amount to approximately 1.31% of the Company's
current non-diluted issued share capital.

 

The Share Options awarded to each PDMR are split between Market Price Options
and LTIP Nominal Price Options (further details of which are set out below) as
follows:

 

 

 Name            Position                  Number of                      Number of

                                           Market Price Options awarded   LTIP Nominal Price Options awarded
 Marco Vergani   Chief Executive Officer   135,000                        n/a
 Robert Price    Chief Financial Officer   85,000                         n/a
 Sjoerd Starren  MD, Global Accounts       70,000                         n/a
 Andrew Payne    Chief Technology Officer  70,000                         n/a
 Julia Mueller   Chief Customer Officer    70,000                         n/a
 Peter Bradley   Chief Delivery Officer    70,000                         87,500
 Totals                                    500,000                        87,500

 

The LTIP Nominal Price Options are issued on substantially the same terms and
at the same exercise price (25p per share, being nominal value) as those
issued to other PDMRs of the Company on 12 November 2020 and 30 March 2021 and
have been issued to align new starters with the existing senior leadership
team as regards their option arrangements.

 

The Market Price Options have an exercise price of 150p. Vesting of the Market
Price Options is based on the achievement of certain prescribed levels of
annual recurring revenue growth in respect of the Group's strategic product
suites (K3|imagine, K3|fashion, K3|pebblestone and K3|ViJi) ("Strategic
Products") measured as at 30 November 2024.

 

In addition, and to ensure consistency between the Group's strategic aims and
its incentives, the Remuneration Committee has amended the performance
condition for the 240,000 existing market price options issued by the Company
to broaden the performance metric to cover all of the Group's Strategic
Products, and to adjust the testing date to 30 November 2023, from 30 November
2024 (to align with the Group's current remuneration policy for market priced
options, having a three year test period).  Amended options held by PDMRs of
the Company are as follows:

 

 Name            Position                  Number of

                                           Existing Market Price Options
 Robert Price    Chief Financial Officer   40,000
 Sjoerd Starren  MD, Global Accounts       40,000
 Andrew Payne    Chief Technology Officer  40,000
 Julia Mueller   Chief Customer Officer    40,000

 

 

Further details in respect of the above are provided below, in accordance with
the EU Market Abuse Regulation (No 596/2014).

For further information contact:

 K3 Business Technology Group plc                 +44 (0) 161 876 4498
 Marco Vergani, CEO
 Rob Price, CFO

 finnCap Ltd                                      +44 (0) 207 220 0500
 Nominated Adviser and Broker
 Julian Blunt/James Thompson (Corporate finance)
 Richard Chambers (Corporate Broking)

 KTZ Communications                               +44 (0) 20 3178 6378
 Katie Tzouliadis/Dan Mahoney

 

 1.  Details of Persons Discharging Managerial Responsibilities "PDMR" / person
     closely associated with them ('PCA')
 a)  Name                                     Marco Vergani
 2.  Reason for notification
 b)  Position / status                        Chief Executive Officer
 c)  Initial notification / amendment         Initial Notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 b)  Name                                     K3 Business Technology Group plc
 c)  LEI                                      213800QOJ9OF2AV81748
 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  Options over ordinary shares of 25p each exercisable at 150p per share

      Identification code                      GB00B00P6061
 b)  Nature of the transaction                Award of Options under the K3 LTIP
 c)  Price(s) and volume(s)                    135,000 Options awarded
 d)  Aggregated information                   n/a

     Aggregated volume Price
 e)  Date of the transaction                  18 May 2022
 f)  Place of the transaction                 Outside a trading venue

 

 

 1.  Details of Persons Discharging Managerial Responsibilities "PDMR" / person
     closely associated with them ('PCA')
 a)  Name                                     Robert Price
 2.  Reason for notification
 b)  Position / status                        Chief Financial Officer
 c)  Initial notification / amendment         Initial Notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 b)  Name                                     K3 Business Technology Group plc
 c)  LEI                                      213800QOJ9OF2AV81748
 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  Options over ordinary shares of 25p each exercisable at 150p per share

      Identification code                      GB00B00P6061
 b)  Nature of the transaction                Award of Options under the K3 LTIP and adjustment of existing option
                                              performance condition
 c)  Price(s) and volume(s)                    85,000 Options awarded

                                              Performance condition adjustment in respect of 40,000 existing options
 d)  Aggregated information                   n/a

     Aggregated volume Price
 e)  Date of the transaction                  18 May 2022
 f)  Place of the transaction                 Outside a trading venue

 

 

 1.  Details of Persons Discharging Managerial Responsibilities "PDMR" / person
     closely associated with them ('PCA')
 a)  Name                                     Sjoerd Starren
 2.  Reason for notification
 b)  Position / status                        MD - Global Accounts
 c)  Initial notification / amendment         Initial Notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 b)  Name                                     K3 Business Technology Group plc
 c)  LEI                                      213800QOJ9OF2AV81748
 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  Options over ordinary shares of 25p each exercisable at 150p per share

      Identification code                      GB00B00P6061
 b)  Nature of the transaction                Award of Options under the K3 LTIP and adjustment of existing option
                                              performance condition
 c)  Price(s) and volume(s)                   70,000 Options awarded

                                              Performance condition adjustment in respect of 40,000 existing options
 d)  Aggregated information                   n/a

     Aggregated volume Price
 e)  Date of the transaction                  18 May 2022
 f)  Place of the transaction                 Outside a trading venue

 

 

 1.  Details of Persons Discharging Managerial Responsibilities "PDMR" / person
     closely associated with them ('PCA')
 a)  Name                                     Andrew Payne
 2.  Reason for notification
 b)  Position / status                        Chief Technology Officer
 c)  Initial notification / amendment         Initial Notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 b)  Name                                     K3 Business Technology Group plc
 c)  LEI                                      213800QOJ9OF2AV81748
 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  Options over ordinary shares of 25p each exercisable at 150p per share

      Identification code                      GB00B00P6061
 b)  Nature of the transaction                Award of Options under the K3 LTIP and adjustment of existing option
                                              performance condition
 c)  Price(s) and volume(s)                    70,000 Options awarded

                                              Performance condition adjustment in respect of 40,000 existing options
 d)  Aggregated information                   n/a

     Aggregated volume Price
 e)  Date of the transaction                  18 May 2022
 f)  Place of the transaction                 Outside a trading venue

 

 

 1.  Details of Persons Discharging Managerial Responsibilities "PDMR" / person
     closely associated with them ('PCA')
 a)  Name                                     Julia Mueller
 2.  Reason for notification
 b)  Position / status                        Chief Customer Officer
 c)  Initial notification / amendment         Initial Notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 b)  Name                                     K3 Business Technology Group plc
 c)  LEI                                      213800QOJ9OF2AV81748
 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  Options over ordinary shares of 25p each exercisable at 150p per share

      Identification code                      GB00B00P6061
 b)  Nature of the transaction                Award of Options under the K3 LTIP and adjustment of existing option
                                              performance condition
 c)  Price(s) and volume(s)                    70,000 Options awarded

                                              Performance condition adjustment in respect of 40,000 existing options
 d)  Aggregated information                   n/a

     Aggregated volume Price
 e)  Date of the transaction                  18 May 2022
 f)  Place of the transaction                 Outside a trading venue

 

 1.  Details of Persons Discharging Managerial Responsibilities "PDMR" / person
     closely associated with them ('PCA')
 a)  Name                                     Peter Bradley
 2.  Reason for notification
 b)  Position / status                        Chief Delivery Officer
 c)  Initial notification / amendment         Initial Notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 b)  Name                                     K3 Business Technology Group plc
 c)  LEI                                      213800QOJ9OF2AV81748
 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  Options over ordinary shares of 25p each exercisable at 150p per share and at

                                        nominal cost
      Identification code

                                               GB00B00P6061
 b)  Nature of the transaction                Award of Options under the K3 LTIP
 c)  Price(s) and volume(s)                   70,000 market price share options

                                              87,500 nominal cost share options
 d)  Aggregated information                   Options over 157,500 ordinary shares

     Aggregated volume Price
 e)  Date of the transaction                  18 May 2022
 f)  Place of the transaction                 Outside a trading venue

 

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