REG - Netcall PLC - Extension of LTIP for Senior Management

NetcallAnnouncement

16/01/2023 17:00

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RNS Number : 8865M  Netcall PLC  16 January 2023

 

16 January 2023

 

NETCALL PLC

 

("Netcall", the "Company" or the "Group")

 

Extension of Long Term Incentive Plan for Senior Management

 

Netcall plc (AIM: NET), a leading customer engagement software provider,
announces that it has extended the term of its current long term incentive
plan ("LTIP") for certain directors of the Company ("Directors").

 

As announced on 30 April 2014 and 19 November 2020, the Company awarded an
LTIP to the Directors under the Company's 2013 Long Term Incentive Plan ("2013
LTIP").  Share options under the 2013 LTIP were granted at an exercise price
of 5 pence. The vesting of options under the 2013 LTIP are conditional on
achievement of certain share price hurdles based on the average share price
over 40 business days up to a maximum share price of £1.20. The options have
a vesting measurement date to 30 April 2023 and expire on 29 April 2024.

 

The following summarises the current position of the 2013 LTIP options:

 

                   2013 LTIP      2013 LTIP        2013 LTIP

options held
options vested
 options unvested
 Henrik Bang       3,319,388      538,919          2,780,469
 Michael Jackson   672,220        315,652          356,568
 James Ormondroyd  1,944,213      275,010          1,669,203
 Total             5,935,821      1,129,581        4,806,240

 

The Directors' have no other share options other than the 2013 LTIP options as
summarised above. Accordingly, given the April 2023 measurement date for the
2013 LTIP the remuneration committee have been considering ongoing incentive
arrangements for the Directors. Given Michael Jackson's interest in the 2013
LTIP options, Mr Jackson has recused himself from the remuneration committee's
consideration on incentive arrangements in relation to himself.

 

The non-executive directors, namely Mike Neville and Tamer Ozmen, believe that
a short extension of the measurement date of the 2013 LTIP, rather than the
introduction of a new LTIP, is appropriate for the Company. Accordingly, the
remuneration committee believe that this provides appropriate targets to
ensure that the Directors continue to be incentivised to drive shareholder
returns.

 

The Company has agreed to extend the vesting measurement date by one year to
29 April 2024 to align with the expiry date of the 2013 LTIP options to 29
April 2024. All other provisions under the above 2013 LTIP options remain
unchanged.

 

 

For further enquiries, please contact:

 Netcall plc                                                  Tel. +44 (0) 330 333 6100
 Henrik Bang, CEO
 Michael Jackson, Chairman
 James Ormondroyd, Group Finance Director

 Canaccord Genuity Limited (Nominated Adviser and Broker)     Tel. +44 (0) 20 7523 8000
 Simon Bridges / Andrew Potts

 Alma PR                                                      Tel. +44 (0) 20 3405 0205
 Caroline Forde / Hilary Buchanan / Matthew Young

 

About Netcall

Netcall's Liberty software platform with Intelligent Automation and Customer
Engagement solutions helps organisations digitally transform their businesses
faster and more efficiently, empowering them to create a leaner, more
customer-centric organisation.

Netcall's customers span enterprise, healthcare and government sectors. These
include two-thirds of the NHS Acute Health Trusts and leading corporates
including Legal and General, Lloyds Banking Group, Aon and Santander Bank.

For further information, please go to www.netcall.com
(http://www.netcall.com/) .

 

 

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