REG - Nexteq PLC - Grant of Options

NexteqAnnouncement

07/05/2025 12:45

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RNS Number : 7210H  Nexteq PLC  07 May 2025

7 May 2025

 

Nexteq plc

 

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

 

Grant of Options

 

Nexteq plc (AIM: NXQ), a leading technology solutions provider to customers in
selected industrial markets, announces today that, under the Nexteq plc 2022
Long Term Incentive Plan, the Board has granted options ("Options") over
ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary
Shares") consisting of 741,705 Performance Share Awards and 77,519 Restricted
Share Awards to persons discharging managerial responsibilities ("PDMR's") in
the business.

 

Vesting of the Performance Share Awards is subject to performance conditions
as follows:

1.     The vesting of 70 per cent. of such awards (the "EPS Part") would
be dependent on the Company's adjusted earnings per share performance for the
financial year ending 31 December 2027.

 

2.     No portion of the EPS Part can performance vest unless the
Company's EPS performance equated to a compound annual growth rate ("CAGR") of
10% for which one quarter of the EPS Part would performance vest, rising on a
straight line basis to full performance vesting of the EPS Part for the
Company's EPS performance equating to a CAGR of 20% or higher.

 

3.     The vesting of 30 per cent. of such awards (the "TSR Part") would
be dependent on the Company's total shareholder return ("TSR") performance
over a three-year period commencing on the grant of the awards.

 

4.     No portion of the TSR Part can performance vest unless the
Company's TSR performance equated to a CAGR of 10% for which one quarter of
the TSR Part would performance vest rising on a straight line basis to full
performance vesting of the TSR Part for the Company's TSR performance equating
to a CAGR of 20% or higher. Three month averaging periods prior to the start
and end of the measurement period would be used in relation to the TSR
calculations.

The Restricted Share Awards vest over a three-year period and there are no
performance conditions attached. All Options are exercisable at the Company's
nominal value of 0.1 pence per Ordinary Share.

Details of the options granted to PDMRs are as follows:

 Name             Title      Number of Performance Share Awards  Number of Restricted Share Awards  Total number of Options held following this Grant
 Duncan Faihfull  Group CEO  447,132                             77,519                             819,581
 Matt Staight     Group CFO  294,574                             -                                  336,260

 

Following the Grant, there are a total of 3,618,921 Options outstanding,
representing approximately 5.4% of the current issued share capital of the
Company.

 Further detail is set out in the PDMR disclosure table below.

  Nexteq PLC

 Duncan Faithfull, Chief Executive Officer        Telephone: +44 (0)20 3597 6800

 Matt Staight, Chief Financial Officer
 Nominated Adviser and Broker:

 Cavendish Capital Markets Ltd

 Matt Goode / Edward Whiley (Corporate Finance)

 Tim Redfern / Harriet Ward (Corporate Broking)   Telephone: +44 (0)20 7220 0500

 Financial PR:

 Alma Strategic Communications                    Telephone: +44 (0)20 3405 0205

 Hilary Buchanan / Emma Thompson

 

About Nexteq

Nexteq (AIM: NXQ) is a strategic technology solutions provider to customers in
selected industrial markets. Its innovative technology enables the
manufacturers of global electronic equipment to outsource the design,
development and supply of non-core aspects of their product offering. By
outsourcing elements of their technology stack to Nexteq, customers can focus
their product development effort on the most critical drivers of their
business' success.

 

Our solutions are delivered through a global sales team and leverage the
Group's electronic hardware, software, display and mechanical engineering
expertise. Our Taiwan operation is at the heart of Asian supply networks and
facilitates cost effective manufacturing and strategic supply chain
management.

 

The Group operates in six countries and services over 500 customers across 47
countries.

 

Nexteq operates two distinct brands: Quixant, a specialised computer platforms
provider, and Densitron, leaders in human machine interface technology, each
with dedicated sales, account management and product innovation teams. Founded
in 2005, and later floating on the London Stock Exchange's AIM stock market as
Quixant plc, the Group rebranded to Nexteq in 2023.

 

Further information on Nexteq and its divisions can be found
at www.nexteqplc.com (http://www.nexteqplc.com/) .

 

 1.          Details of the person discharging managerial responsibilities/person closely
             associated
 a)          Name:                                                         Duncan Faithfull
 2.          Reason for the notification
 a)          Position/status:                                              Chief Executive Officer
 b)          Initial notification/Amendment:                               Initial Notification
 3.          Details of the issuer, emission allowance market participant, auction
             platform, auctioneer or auction monitor
 a)          Name:                                                         Nexteq plc
 b)          LEI:                                                          2138003VERSWQP561X71
 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:  Options over Ordinary shares of 0.1p

             Identification code:                                          GB00B99PCP71
 b)          Nature of the transaction:                                    Award of nominal value options over Ordinary Shares as part of the Nexteq plc
                                                                           Long Term Incentive Plan 2022. The potential vesting of the award after three
                                                                           years is subject to the achievement of performance conditions assessed at the
                                                                           end of a three-year period. There is no price payable on the grant or vesting
                                                                           of the option. On exercise, the option price of £0.001 per share is payable.
 c)          Price(s) and volume(s):                                       Price(s)  Volume(s)
                                                                           0.1p      524,651
 d)          Aggregated information:                                       See 4 (c)

             · Aggregated volume:

             · Price:
 e)          Date of the transaction:                                      30 April 2025
 f)          Place of the transaction:                                     Off market transaction

d)

Aggregated information:

· Aggregated volume:

· Price:

See 4 (c)

e)

Date of the transaction:

30 April 2025

f)

Place of the transaction:

Off market transaction

 

 1.          Details of the person discharging managerial responsibilities/person closely
             associated
 a)          Name:                                                         Matt Staight
 2.          Reason for the notification
 a)          Position/status:                                              Chief Financial Officer
 b)          Initial notification/Amendment:                               Initial Notification
 3.          Details of the issuer, emission allowance market participant, auction
             platform, auctioneer or auction monitor
 a)          Name:                                                         Nexteq plc
 b)          LEI:                                                          2138003VERSWQP561X71
 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:  Options over Ordinary shares of 0.1p

             Identification code:                                          GB00B99PCP71
 b)          Nature of the transaction:                                    Award of nominal value options over Ordinary Shares as part of the Nexteq plc
                                                                           Long Term Incentive Plan 2022. The potential vesting of the award after three
                                                                           years is subject to the achievement of performance conditions assessed at the
                                                                           end of a three-year period. There is no price payable on the grant or vesting
                                                                           of the option. On exercise, the option price of £0.001 per share is payable.
 c)          Price(s) and volume(s):                                       Price(s)  Volume(s)
                                                                           0.1p      294,574
 d)          Aggregated information:                                       See 4 (c)

             · Aggregated volume:

             · Price:
 e)          Date of the transaction:                                      30 April 2025
 f)          Place of the transaction:                                     Off market transaction

d)

Aggregated information:

· Aggregated volume:

· Price:

See 4 (c)

e)

Date of the transaction:

30 April 2025

f)

Place of the transaction:

Off market transaction

 

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