REG - Smartspace Software - Grant of Share Options & PDMR Dealings

Smartspace SoftwareAnnouncement

23/09/2021 13:00

RNS Number : 7941M
  
Smartspace Software PLC
  
23 September 2021
  
 

 
 
RNS | 23 September 2021
 
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR").  Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
 
 
SmartSpace Software Plc
("SmartSpace", the "Company" or the "Group")
 
Grant of, and amendment to, Share Options
PDMR Dealings
SmartSpace Software Plc, (AIM:SMRT) the leading provider of 'Integrated Space Management Software' for smart buildings and commercial spaces, announces that on 22 September 2021 it granted options ("New Options") over a total of 678,950 ordinary shares of 10 pence in the Company ("Ordinary Shares") to 27 employees ("Employee Options"), including PDMRs of the Company. 
Options over a total of 327,035 Ordinary Shares have been granted to employees under the Company's Enterprise Management Incentive ("EMI") Share Option Scheme and options over 351,915 Ordinary Shares have been granted under the Company's Unapproved Share Option Scheme to employees not qualifying for the EMI Share Option Scheme.
The New Options have an exercise price of 137.5p per Ordinary Share (being the closing mid-market share price on 21 September 2021), and will vest three years from the date of grant (ensuring the employees remain in continuous employment within the Group for a three year period) and once vested, are exercisable at any time up to ten years after the date of grant. The options do not carry any performance criteria. 
PDMR Options
Included in the New Option grant noted above, 338,950 Options have been granted to Frank Beechinor, Chief Executive Officer, and 125,000 to Kristian Shaw, Chief Financial Officer. These options do not carry any performance criteria.
In addition, the remuneration committee has decided to extend the performance period relating to a total of 351,441 existing options previously granted to Frank Beechinor and Guy van Zwanenberg which are expected to lapse in October 2021 due to the share price performance criteria not being achieved (the "Existing Options"). 







Options held before changes


Options expected to lapse in October 2021


Options expected to lapse in October 2021 but which have had their performance period extended by 2 years


New options issued


Options held after changes




Frank Beechinor


650,000


(552,114)


326,057


338,950


762,893




Kristian Shaw


50,000


-


-


125,000


175,000




Guy van Zwanenberg


30,000


(25,384)


25,384


-


30,000




Total


730,000


(577,498)


351,441


463,950


967,893



 
The performance criteria for the Existing Options which have had their qualifying period to meet the performance criteria extended, are as follows:
 



Average share price achieved in any 90 calendar day period following the Date of Grant and ending on 17 October 2023


Number of 94 pence options held by Frank Beechinor that shall vest


Number of 92 pence options held by Frank Beechinor that shall vest


Number of 92 pence options held by Guy van Zwanenberg that shall vest




250 pence


45,448


15,385


4,615




350 pence


65,331


23,077


6,923




450 pence


65,331


23,077


6,923




500 pence


65,332


23,076


6,923




Total


241,442


84,615


25,384



 
 
Guy van Zwanenberg, Chairman of SmartSpace commented:
"We are now embracing our successful transformation into a pure play SaaS business, with exceptional people, complimenting this evolvement. Our remuneration strategy focuses on ensuring our key talent will be motivated, to deliver continued success for SmartSpace and its shareholders"
 
End
Enquiries



SmartSpace Software Plc
Frank Beechinor (CEO)
Kris Shaw (CFO)
 
Lisa Baderoon (Head of Investor Relations)
LBaderoon@smartspaceplc.com
 


via Lisa Baderoon
- Head of Investor Relations
 
 
 
+44(0) 7721 413 496




Singer Capital Markets (NOMAD & Joint Broker)
Shaun Dobson, Tom Salvesen, Jen Boorer, Alex Bond 


+44 (0)20 7496 3000



 
Canaccord Genuity (Joint Broker)                                                                                     +44 (0) 20 7523 8000
Adam James
Georgina McCooke                              
 
 
About SmartSpace Software Plc: 
 
SmartSpace Software plc is a fast-growing SaaS-based technology business, designing and building smart software solutions. The Company's software solutions help transform employee engagement with modules which include visitor management, desk management, meeting room management and analytics. 
The three operating companies in the Group comprise:
●     Space Connect - SaaS meeting room and desk booking (www.spaceconnect.co)
●     SwipedOn - SaaS visitor management, desk booking (www.SwipedOn.com)
●     Anders & Kern - distribution and technical support (www.anders-kern.co.uk)
 
For more information go to: www.smartspaceplc.com.



Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.



1
 


Details of the person discharging managerial responsibilities / person closely associated
 




a)


Name


Frank Beechinor




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


Smartspace Software Plc




b)


LEI


213800IQXZ3XYCMH6U90




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
 
Identification code
 


Ordinary Shares of 10p each
 
 
ISIN: GB00BYWN0F98




b)


Nature of the transaction


Grant of share options over Ordinary Shares




c)
 


Price(s) and volume(s)
 


Price


Volume




Exercise price: 137.5p per Ordinary Share


338,950




d)
 


Aggregated information
 
- Aggregated volume
 
- Price
 


N/A




e)


Date of the transaction


22 September 2021




f)


Place of the transaction


Off market



 




 
 



1
 


Details of the person discharging managerial responsibilities / person closely associated
 




a)


Name


Kristian Shaw




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


Smartspace Software Plc




b)


LEI


213800IQXZ3XYCMH6U90




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
 
Identification code
 


Ordinary Shares of 10p each
 
 
ISIN: GB00BYWN0F98




b)


Nature of the transaction


Grant of share options over Ordinary Shares




c)
 


Price(s) and volume(s)
 


Price


Volume




Exercise price: 137.5p per Ordinary Share


125,000




d)
 


Aggregated information
 
- Aggregated volume
 
- Price
 


N/A




e)


Date of the transaction


22 September 2021




f)


Place of the transaction


Off market



 




 



1
 


Details of the person discharging managerial responsibilities / person closely associated
 




a)


Name


Frank Beechinor




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


Smartspace Software Plc




b)


LEI


213800IQXZ3XYCMH6U90




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
 
Identification code
 


Ordinary Shares of 10p each
 
 
ISIN: GB00BYWN0F98




b)


Nature of the transaction


Extension of expiry date of grant of options over ordinary shares to October 2023




c)
 


Price(s) and volume(s)
 


Price


Volume




Exercise price: 94.0p per Ordinary Share
 
Exercise price: 92.0p per Ordinary Share


 
241,442
 
84,615




d)
 


Aggregated information
 
- Aggregated volume
 
- Price
 


N/A




e)


Date of the transaction


22 September 2021




f)


Place of the transaction


Off market



 
 




 



1
 


Details of the person discharging managerial responsibilities / person closely associated
 




a)


Name


Guy van Zwanenberg




2


Reason for the notification




a)


Position/status


Chairman




b)


Initial notification /Amendment


Initial notification




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


Smartspace Software Plc




b)


LEI


213800IQXZ3XYCMH6U90




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
 
Identification code
 


Ordinary Shares of 10p each
 
 
ISIN: GB00BYWN0F98




b)


Nature of the transaction


Extension of expiry date of grant of options over ordinary shares to October 2023




c)
 


Price(s) and volume(s)
 


Price


Volume




Exercise price: 92.0p per Ordinary Share


25,384




d)
 


Aggregated information
 
- Aggregated volume
 
- Price
 


N/A




e)


Date of the transaction


22 September 2021




f)


Place of the transaction


Off market



 

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