REG - Rosslyn Data Tech. - Grant and cancellation of options
29/09/2023 16:45
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RNS Number : 2368O Rosslyn Data Technologies PLC 29 September 2023
29 September 2023
Rosslyn Data Technologies plc
("Rosslyn" or the "Company")
Grant and Cancellation of Options
Further to the Company's announcement of 30 August 2023, Rosslyn (AIM: RDT),
the provider of a leading cloud-based enterprise data analytics platform,
announces the grant of options over ordinary shares of 25p each in the Company
("Ordinary Shares") and the concurrent cancellation of options over Ordinary
Shares. This includes the grant of options to, and cancellation of options
held by, a Director and a PDMR of the Company.
As referenced in the Company's circular to shareholders dated 31 August 2023,
the Board recognises the importance of share options to appropriately
incentivise and retain employees as well as to ensure their interests are
aligned with that of Company and its shareholders. Following a review of
employee incentives, the Remuneration Committee of the Board recommended that,
given the reduction in the Company's share price and the changes in the share
capital following the recent fundraising and share consolidation, the existing
awards of share options were no longer a reasonable incentive and should be
replaced to re-align the option scheme with the current share price and share
capital. The Board of Directors approved this recommendation and is adopting a
new share option plan. The adoption of the new share option plan was approved
by shareholders at the general meeting of the Company on 18 September 2023.
Accordingly, the Company, on 29 September 2023, cancelled 525,846* options
over Ordinary Shares ("Historic Options"), including those held by a Director
and a PDMR of the Company as detailed below. The holders of the Historic
Options have agreed to their cancellation with immediate effect.
On 29 September 2023 (the "Grant Date"), the Company granted a total of
1,871,833 options over Ordinary Shares (the "New Options"), a portion of which
are to replace the Historic Options alongside the grant of options to new
holders. This includes the grant of options to a Director and PDMR of the
Company as detailed below.
PDMR Number of New Options granted Exercise price of New Options granted Number of Historic Options cancelled* Total number of options held following the grant and cancellation of options
Paul Watts, CEO and Director 882,964 25.0p 322,134 882,964
Ed Riddell, CFO 441,482 25.0p 100,000 441,482
* The number of options following the 50:1 share consolidation on 19 September
2023
The New Options granted to Paul Watts and Ed Riddell vest in three equal
tranches on the first, second and third anniversaries of the Grant Date
subject to the satisfaction of performance criteria related to increases in
share price and the achievement of targets related to ARR, revenue and EBITDA.
The New Options expire 10 years from the Grant Date and are exercisable
subject to the satisfaction of the performance achievements and the individual
remaining an employee of the Company. The exercise price of 25.0p represents
the price at which the new Ordinary Shares were issued in the Company's recent
fundraising adjusted for the share consolidation.
Following the cancellation of the Historic Options and grant of the New
Options, the Company now has options outstanding over a total of 1,939,549
Ordinary Shares, representing 11.0% of the current issued share capital of the
Company.
For further information please contact:
Rosslyn
Paul Watts, Chief Executive Officer +44 (0)20 3285 8008
James Appleby, Chairman
Cavendish Securities (Nominated adviser and Broker)
Stephen Keys/Camilla Hume/George Lawson +44 (0)20 7220 0500
Gracechurch Group (Financial PR)
Claire Norbury/Anysia Virdi +44 (0)20 4582 3500
About Rosslyn Data Technologies plc
Rosslyn (AIM: RDT) provides an award-winning spend analytics and predictive
analytics platform. The Rosslyn Platform helps organizations with diverse
supply chains mitigate risk and make informed strategic decisions. It
leverages automated workflows, artificial intelligence and machine learning to
extract and consolidate procurement data providing visibility of complex
supplier data, enabling supplier spend savings and delivering rapid ROI. For
more information visit www.rosslyn.ai (http://www.rosslyn.ai/)
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 Paul Watts
2 Reason for the notification
a) Position/status Executive Director and CEO
b) Initial notification/amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Rosslyn Data Technologies plc
b) LEI 213800UJ7YTBGGXGJN09
(https://lei-search.lei-worldwide.com/search-results.html?lei=213800UJ7YTBGGXGJN09)
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 0.5 pence each
Identification code GB00BMV2DB09
b) Nature of the transaction Grant and cancellation of options
c) Price(s) and volume(s)
Price(s) Volume(s)
25.0 pence (GRANT) 882,964 (GRANT)
260.0 pence (CANCELLATION) 38,461 (CANCELLATION)
245.0 pence (CANCELLATION) 183,673 (CANCELLATION)
49.5 pence (CANCELLATION) 100,000 (CANCELLATION)
d) Aggregated information
- Aggregated volume N/A
- Price N/A
e) Date of the transaction 29 September 2023
f) Place of the transaction Off market
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Edward Riddell
2 Reason for the notification
a) Position/status CFO and PDMR
b) Initial notification/amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Rosslyn Data Technologies plc
b) LEI 213800UJ7YTBGGXGJN09
(https://lei-search.lei-worldwide.com/search-results.html?lei=213800UJ7YTBGGXGJN09)
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 0.5 pence each
Identification code GB00BMV2DB09
b) Nature of the transaction Grant and cancellation of options
c) Price(s) and volume(s)
Price(s) Volume(s)
25.0 pence (GRANT) 441,482 (GRANT)
49.5 pence (CANCELLATION) 100,000 (CANCELLATION)
d) Aggregated information
- Aggregated volume N/A
- Price N/A
e) Date of the transaction 29 September 2023
f) Place of the transaction Off market
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