REG - Shearwater Group PLC - Grant of Options and Director/PDMR Dealing

ShearwaterAnnouncement

11/02/2022 07:00

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RNS Number : 3655B  Shearwater Group PLC  11 February 2022

11 February 2022

Shearwater Group PLC
("Shearwater" or the "Group")

Grant of Options and Director/PDMR Dealing

 

Shearwater Group plc (AIM: SWG), the organisational resilience group that
provides cybersecurity, advisory and managed security services, announces the
grant of options to acquire, in aggregate, up to 668,110 ordinary shares of 10
pence each (the "Options") to a broad range of the Group's employees. The
Options have been granted to ensure that the Group's employees are well
motivated and identify closely with the success of the Group.

 

Options to acquire up to 640,714 shares have been granted under the
newly-adopted Shearwater Group Company Share Option Plan (the "CSOP") and
Options to acquire up to 27,396 shares have been granted under the existing
Shearwater Group Employee Share Option Plan (the "ESOP").  Options granted
under the CSOP are intended to benefit from tax reliefs, whereas Options
granted under the ESOP do not qualify for these reliefs.

 

The Options will be exercisable from vesting until the fifth anniversary of
grant at a price of £0.95 per new ordinary share, a price equal to the
closing mid-market price per Shearwater ordinary share on 9 February 2022.

 

Subject to the satisfaction of performance conditions and continued
employment, where applicable, the Options will vest as to 89,998 shares on the
first anniversary of grant, 11,112 shares on 10 September 2023 and 567,000
shares on the third anniversary of grant.

An Option over 25,000 shares has been granted under the CSOP to Paul McFadden,
the Group's Chief Financial Officer and the notification below, made in
accordance with the UK Market Abuse Regulation, provides further details in
this regard.

 

 Director       Position  Number of shares under option      Exercise price  Vesting date*      Expiry date
 Paul McFadden  CFO                     25,000

                                                             £0.95           10 February 2025   10 February 2027

*subject to the satisfaction of performance conditions

 

Following the grant of the Options, the Group has options outstanding over a
total of 909,862 shares, which represent approximately 3.9% of the Company's
existing issued ordinary share capital.

 

Enquiries:

 Shearwater Group plc                             www.shearwatergroup.com

 David Williams                                   c/o Alma PR

 Phil Higgins

 Cenkos Securities plc - NOMAD and Joint Broker   +44 (0) 20 7397 8900

 Ben Jeynes / Max Gould - Corporate Finance

 Julian Morse / Michael Johnson - Sales

 Berenberg - Joint Broker                         +44 (0) 20 3207 7800

 Matthew Armitt / Mark Whitmore

 Alma PR                                          shearwater@almapr.co.uk

 Susie Hudson / Caroline Forde / Joe Pederzolli   +44 (0) 20 3405 0205

 

 

The Company makes the following disclosures in accordance with article 19(3)
of the Market Abuse Regulation:

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Paul McFadden

 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                                                         Shearwater Group plc

 b)   LEI                                                          213800ZRUKUYDJLKD504

 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  Ordinary shares of 10 pence each

      Identification code                                          GB00BKT6VH21

 b)   Nature of the transaction                                    Grant of share option under the Shearwater Group Company Share Option Plan

 c)   Price(s) and volume(s)

Price(s)  Volume(s)
                                                                   nil        25,000

 d)   Aggregated information

      - Aggregated volume                                           N/A - single transaction

      - Price
 e)   Date of the transaction                                      10 February 2022

 f)   Place of the transaction                                     Outside of a trading venue

d)

Aggregated information

- Aggregated volume

- Price

 

 N/A - single transaction

e)

Date of the transaction

10 February 2022

 

f)

Place of the transaction

Outside of a trading venue

 

 

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