REG - Made Tech Group PLC - LTIP Update and PDMR Dealing

Made TechAnnouncement

23/02/2023 07:15

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RNS Number : 7714Q  Made Tech Group PLC  23 February 2023

23 February 2023

 

MADE TECH GROUP PLC

("Made Tech", the "Company" or the "Group")

 

Update re. LTIP Awards

 

PDMR Dealing

 

Waiver and cancellation of certain LTIP awards

 

Made Tech, a leading provider of digital, data and technology services to the
UK public sector, announces that  certain long-term incentive awards
implemented at the time of the Company's admission to AIM ("Admission") have
today been waived in full in respect of a total of 1,229,507 ordinary shares
in the Company ("Ordinary Shares").

 

Contingent on Admission, Rory MacDonald (CEO) and Chris Blackburn (COO) were
granted awards under the Made Tech Group plc Long Term Incentive Plan (the
"LTIP") over 737,704 and 491,803 Ordinary Shares respectively (together the
"CEO and COO LTIP Awards"). Rory MacDonald and Chris Blackburn (together the
"Concert Party") are deemed to be acting in concert under the Takeover Code.
At the time of Admission, the Concert Party's aggregate fully diluted
shareholding was 43.04 per cent. of the Company's issued share capital (based
on the Company's issued share capital on Admission assumed enlarged by the
exercise of the CEO and COO LTIP Awards). Further details of the CEO and COO
LTIP Awards and the waiver from Rule 9 of the Takeover Code granted by the
Takeover Panel are included in the Company's Admission Document dated 27
September 2021.

 

Today the CEO and COO LTIP Awards have been waived in full and accordingly
will be treated as cancelled.

 

The respective number of Ordinary Shares held by Rory MacDonald and Chris
Blackburn remain unchanged following the waiver and cancellation of the CEO
and COO LTIP Awards. Following the waiver and cancellation of the CEO and COO
LTIP Awards the Concert Party is permitted to acquire Ordinary Shares, subject
to its aggregate fully diluted shareholding not exceeding 43.04 per cent. of
the Company's issued share capital.

 

Grant of LTIP awards to PDMR and others

 

The Company has today granted an award under the LTIP to Tim Bardell,
Executive Director of Capabilities and PDMR, over a total of 238,095 Ordinary
Shares, vesting in equal parts over a three year period. The first part will
become exercisable on 14 November 2023 with the second and third parts
exercisable on 14 November 2024 and 14 November 2025 respectively. Each part
is structured as a nil cost option in accordance with the terms of the LTIP.

 

In addition, the Company has today granted awards under the LTIP to other
Company employees over a further 273,469 Ordinary Shares.

 

Following the waiver and cancellation of the CEO and COO LTIP Awards, and the
grant of the above new awards under the LTIP, the Company has options
outstanding over 4,688,268 Ordinary Shares, equivalent to 3.14 per cent. of
the Company's current issued share capital.

 

Enquiries:

 

 Made Tech Group plc                                      via Belvedere PR

 Rory MacDonald, CEO

 Deborah Lovegrove, CFO
 Singer Capital Markets (Nominated Adviser & Broker)      Tel: +44 20 7496 3000

 Jennifer Boorer / Harry Gooden / Asha Chotai
 Belvedere Communications (Financial PR)                  Email:  madetech@belvederepr.com (mailto:madetech@belvederepr.com)

 Cat Valentine                                            Tel: +44 7715 769078

 Keeley Clarke                                            Tel: +44 7967 816525

 

About Made Tech

 

Made Tech is a provider of digital, data and technology services to the UK
public sector. Founded in 2008 and now with a headcount of over 480 and
offices in four UK locations (London, Manchester, Bristol and Swansea), Made
Tech provides services that enable central government, healthcare and local
government organisations to digitally transform.

 

Made Tech's purpose is to "positively impact the future of society by
improving public sector technology". To achieve this the company has four key
strategic missions: Modernise legacy technology and working practices;
Accelerate digital service and technology delivery; Drive better decisions
through data and automation; and Enable technology and delivery skills to
build better systems.

 

https://investors.madetech.com/ (https://investors.madetech.com/)

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                                                         Rory MacDonald

 2    Reason for the notification

 a)   Position/status                                              Chief Executive 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                                                         Made Tech Group plc

 b)   LEI                                                          213800FQR678FTPNVW08

 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 award over ordinary shares in the Company

      Identification code                                          GB00BLGYDT21

 b)   Nature of the transaction                                    Waiver and cancellation of LTIP award

 c)   Price(s) and volume(s)                                       Volumes: 737,704

                                                                   Price: N/A

 d)   Aggregated information                                       N/A

 e)   Date of the transaction                                      23 February 2023

 f)   Place of the transaction                                     Outside of a trading venue

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Chris Blackburn

 2    Reason for the notification

 a)   Position/status                                              Chief Operating 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                                                         Made Tech Group plc

 b)   LEI                                                          213800FQR678FTPNVW08

 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 award over ordinary shares in the Company

      Identification code                                          GB00BLGYDT21

 b)   Nature of the transaction                                    Waiver and cancellation of LTIP award

 c)   Price(s) and volume(s)                                       Volumes: 491,803

                                                                   Price: N/A

 d)   Aggregated information                                       N/A

 e)   Date of the transaction                                      23 February 2023

 f)   Place of the transaction                                     Outside of a trading venue

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Tim Bardell

 2    Reason for the notification

 a)   Position/status                                              Executive Director of Capabilities (PDMR)

 b)   Initial notification /Amendment                              Initial Notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Made Tech Group plc

 b)   LEI                                                          213800FQR678FTPNVW08

 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 award over ordinary shares in the Company

      Identification code                                          GB00BLGYDT21

 b)   Nature of the transaction                                    Grant of LTIP award

 c)   Price(s) and volume(s)                                       Volumes: 238,095 Ordinary Shares

                                                                   Price: Nil

 d)   Aggregated information                                       N/A

 e)   Date of the transaction                                      23 February 2023

 f)   Place of the transaction                                     Outside of a trading venue

 

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