REG - Redcentric PLC - Grant of Options and PDMR Shareholding

RedcentricAnnouncement

02/10/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241002:nRSB5245Ga&default-theme=true

RNS Number : 5245G  Redcentric PLC  02 October 2024

Redcentric plc

 

Grant of Options and PDMR Shareholding

 

Redcentric plc (AIM: RCN) ("Redcentric" or the "Company"), a leading UK IT
managed services provider, announces that it has granted a total of 1,931,681
options over new ordinary shares of 0.1 pence each in the Company ("Ordinary
Shares") under the Company's 2016 Long Term Incentive Plan ("LTIP Options").
The LTIP Options are three-year, nominal cost (0.1p) options and subject to
continued employment and the meeting of certain performance conditions
described below. 963,344 of the LTIP Options were granted to executive
directors of the Company as follows:

 

·     612,418 LTIP Options were granted to Peter Brotherton, Chief
Executive Officer of the Company, following which Mr. Brotherton holds a total
of 1,857,311 options over Ordinary Shares and 452,479 Ordinary Shares
(representing approximately 0.29% of the Company's issued voting share
capital); and

 

·     350,926 LTIP Options were granted to David Senior, Chief Financial
Officer of the Company, following which Mr. Senior holds a total of 1,050,026
options over Ordinary Shares and 113,090 Ordinary Shares (representing
approximately 0.07% of the Company's issued voting share capital).

 

The LTIP Options in respect of the executive directors have a value equal to
200% of salary with the first 100% of salary based 50% on absolute Total
Shareholder Return ("TSR") between 5% and 10% p.a. and 50% of salary based on
adjusted Earnings per Share ("EPS") for the year ended 31 March 2027 of
between 5p and 7p. The second 100% of salary based 50% on absolute TSR between
10% and 15% p.a. and 50% of salary based on adjusted EPS for the year ended 31
March 2027 of between 7p and 9p.

 

Following the grant of the LTIP Options, there are options outstanding over
6,727,609 Ordinary Shares, representing 4.2% of the Company's issued voting
share capital.

 

The notifications below, made in accordance with the requirements of the
Market Abuse Regulation, provide further detail.

 

 

Enquiries:

 Redcentric plc                              +44 (0)800 983 2522

 Peter Brotherton, Chief Executive Officer

 David Senior, Chief Financial Officer

 Cavendish Ltd - Nomad and Sole Broker       +44 (0)20 7220 0500

 Marc Milmo (Corporate Finance)

 Andrew Burdis (ECM)

 

 

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                                                         Peter Brotherton
 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                                                         Redcentric plc
 b)  Legal Entity Identifier                                      213800FGYMMNE9OKFD14
 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 new ordinary shares of 0.1p each

     Identification code

                                                                  GB00B7TW1V39

 b)  Nature of the transaction                                    Grant of options
 c)  Currency                                                     GBP
 d)  Price(s) and volume(s)                                       Price (exercise)            Volume(s)
     0.1p                                                                                     612,418

 e)  Aggregated information                                       N/A - single transaction

     - Aggregated volume

     - Price

     - Aggregated total
 f)  Date of the transaction                                      02 October 2024
 g)  Place of the transaction                                     Outside of a trading venue

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         David Senior
 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                                                         Redcentric plc
 b)  Legal Entity Identifier                                      213800FGYMMNE9OKFD14
 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 new ordinary shares of 0.1p each

     Identification code

                                                                   GB00B7TW1V39

 b)  Nature of the transaction                                    Grant of options
 c)  Currency                                                     GBP
 d)  Price(s) and volume(s)                                       Price (exercise)            Volume(s)
     0.1p                                                                                     350,926

 e)  Aggregated information                                       N/A - single transaction

     - Aggregated volume

     - Price

     - Aggregated total
 f)  Date of the transaction                                      02 October 2024
 g)  Place of the transaction                                     Outside of a trading venue

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHQKDBPQBDDCKK