REG - Nanoco Group PLC - Director/PDMR Shareholding

NanocoAnnouncement

21/10/2020 15:20

RNS Number : 8264C
  
Nanoco Group PLC
  
21 October 2020
  
 

21 October 2020
NANOCO GROUP PLC
("Nanoco", the "Group" or the "Company")
 
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND FORMER EXECUTIVE DIRECTOR
On 21 October 2020 Nanoco Group plc ("Nanoco") granted nil-cost options over ordinary shares in the Company under the Nanoco Group 2015 Long Term Incentive Plan (the "LTIP") to the directors, other PDMRs, other staff and a former director as noted below.



Name of Director / PDMR


Number of options granted


Total number of options outstanding




Brian Tenner (CEO - Director, PDMR)


2,485,956


4,550,310




Nigel Pickett (CTO - Director, PDMR)


1,647,668


4,389,004




Liam Gray (Company Secretary, PDMR)


543,891


705,819




Other non-disclosable managers


1,988,730


n/a




Michael Edelman (special adviser, former Director)


1,795,922


5,682,048




Total number


8,462,167


n/a



Ordinarily the number of options awarded would have been calculated by reference to the average closing mid-market share price for the three days after the announcement of the Group's results for the year ending 31 July 2020. This was 11.3 pence. However, given the sharp fall in the Group's share price following the results announcement, the Board felt it appropriate to reflect this fall in the awards and hence has used the average share price in the preceding three months to calculate the number of awards to be made. This was 15.4 pence. The use of the higher price to calculate the number of awards results in a reduction in the number of awards to each person of approximately 27%.
The vesting of the options is subject to the achievement of performance conditions based upon the growth in the Company's share price over the three year performance period ending 31 July 2023. The equivalent compound annual growth rate ('CAGR') is shown for information purposes and is based on the average of the closing mid-market price of the Company's shares for the three days after the Group's annual results for the year ending 31 July 2020 (announced on 13 October 2020).



Range


Share price (equivalent CAGR (%))


Proportion of award that will vest




Below threshold


Less than 30 pence (<38.3%)


Nil




Threshold


30 pence (38.3%)


25%




Target


40 pence (52.2%)


60%




Maximum


50 pence (64.0%)


100%



The award to Dr Michael Edelman (who has ceased to be a PDMR) is in line with the terms agreed around his ceasing to hold office as CEO and his continuing role as a special adviser to the Group's Litigation Sub-Committee as announced and disclosed on 1 September 2020. The award to Dr Edelman is subject to the same performance conditions and other conditions as the awards to all other staff, including the basis of calculating the number of awards made.
Ordinarily, the options will vest (subject to the achievement of the performance conditions) following the announcement of Nanoco's results for its financial year ending 31 July 2023. The options are then subject to an additional two year holding period. This notification is made pursuant to Disclosure and Transparency Rule 3.1.4.
For further information please contact:
Liam Gray

Company Secretary

Telephone : +44 (0) 161 603 7900
 
Notes for editors:
 
About Nanoco Group plc
Nanoco (LSE: NANO) harnesses the power of nano-materials. Nano-materials are materials with dimensions typically in the range 1 - 100 nm. Nano-materials have a range of useful properties, including optical and electronic. Quantum dots are a subclass of nano-material that have size-dependent optical and electronic properties. The Group produces quantum dots. Within the sphere of quantum dots, the Group exploits different characteristics of the quantum dots to target different performance criteria that are attractive to specific markets or end-user applications such as the Display and Electronics markets. One of the interesting properties of quantum dots is photoluminescence: the emission of longer wavelength light upon excitation by light of a shorter wavelength. The colour of light emitted depends on the particle size. Nanoco's CFQD® quantum dots are free of cadmium and other toxic heavy metals and can be tuned to emit light at different wavelengths across the visible and infrared spectrum, rendering them useful for a wide range of applications including displays, lighting and biological imaging.
Nanoco was founded in 2001 and is headquartered in Manchester, UK, with a US subsidiary, Nanoco Inc., in Concord, MA. Nanoco continues to build out a world-class, patent-protected IP portfolio generated both by its own innovation engine, as well as through acquisition.
Nanoco is listed on the Main Market of the London Stock Exchange and trades under the ticker symbol NANO. For further information please visit: www.nanocotechnologies.com.
Notification of Dealing Form



1.


Details of the Person Discharging Managerial Responsibilities ("PDMR") / person closely associated with them ("PCA")




a)


Name


BRIAN TENNER




2.


Reason for the notification




a)


Position /status


CHIEF EXECUTIVE OFFICER




b)


Initial notification / amendment


INITIAL NOTIFICATION




3.


Details of the Issuer




a)


Name


NANOCO GROUP PLC




b)


LEI code


213800HOSJEZO1KOCV33




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) 


Type of instrument

Identification code


ORDINARY SHARES OF 1O PENCE EACH




ISIN: GB00B01JLR99




b)


Nature of the transaction


GRANT OF AN OPTION OVER ORDINARY SHARES UNDER THE NANOCO 2015 LONG TERM INCENTIVE PLAN




c) 


Price(s) and volume(s)





Price(s)


Volume(s)




Nil cost


2,485,956








d)


Aggregated information:

- Aggregated volume

- Price


N/A




e) 


Date of the transaction


21 OCTOBER 2020




f)


Place of the transaction 


OUTSIDE A TRADING VENUE



Notification of Dealing Form



1.


Details of the Person Discharging Managerial Responsibilities ("PDMR") / person closely associated with them ("PCA")




a)


Name


DR NIGEL PICKETT




2.


Reason for the notification




a)


Position /status


CHIEF TECHNICAL OFFICER 




b)


Initial notification / amendment


INITIAL NOTIFICATION




3.


Details of the Issuer




a)


Name


NANOCO GROUP PLC




b)


LEI code


213800HOSJEZO1KOCV33




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) 


Type of instrument

Identification code


ORDINARY SHARES OF 1O PENCE EACH




ISIN: GB00B01JLR99




b)


Nature of the transaction


GRANT OF AN OPTION OVER ORDINARY SHARES UNDER THE NANOCO 2015 LONG TERM INCENTIVE PLAN




c) 


Price(s) and volume(s)





Price(s)


Volume(s)




Nil cost


1,647,668








d)


Aggregated information:

- Aggregated volume

- Price


N/A




e) 


Date of the transaction


21 OCTOBER 2020




f)


Place of the transaction 


OUTSIDE A TRADING VENUE



Notification of Dealing Form



1.


Details of the Person Discharging Managerial Responsibilities ("PDMR") / person closely associated with them ("PCA")




a)


Name


LIAM GRAY




2.


Reason for the notification




a)


Position /status


COMPANY SECRETARY, NANOCO GROUP PLC




b)


Initial notification / amendment


INITIAL NOTIFICATION




3.


Details of the Issuer




a)


Name


NANOCO GROUP PLC




b)


LEI code


213800HOSJEZO1KOCV33




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) 


Type of instrument

Identification code


ORDINARY SHARES OF 1O PENCE EACH




ISIN: GB00B01JLR99




b)


Nature of the transaction


GRANT OF AN OPTION OVER ORDINARY SHARES UNDER THE NANOCO 2015 LONG TERM INCENTIVE PLAN




c) 


Price(s) and volume(s)





Price(s)


Volume(s)




Nil cost


543,891








d)


Aggregated information:

- Aggregated volume

- Price


N/A




e) 


Date of the transaction


21 OCTOBER 2020




f)


Place of the transaction 


OUTSIDE A TRADING VENUE



 
= END =

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
  END
 
 
DSHKKDBDQBDDNKB