REG - SRT Marine Systems - Grant of Share Options

SRT Marine SystemsAnnouncement

04/05/2022 07:00

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RNS Number : 1937K  SRT Marine Systems PLC  04 May 2022

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

 

Grant of share options

SRT Marine Systems plc, a global provider of maritime surveillance, monitoring
and management systems, announces that share options have been granted to
Simon Tucker, Chief Executive Officer.

On 3 May 2022, options were granted over 2,500,000 ordinary shares of 0.1p
each and are exercisable at the nominal value. The options vest between 3 and
10 years in five equal tranches when the average mid-market closing share
price exceeds each of 125p, 150p, 200p, 250p, 300p over a twenty day period.
The latest closing price of the shares was 33p, the first tranche of options
representing an increase of in excess of 3.8x the current share price.

 

 Contacts:
 SRT Marine Systems plc                                      www.srt-marine.com (http://www.srt-marine.com)

                                                             + 44 (0) 1761 409500

 Simon Tucker (CEO)                                          simon.tucker@srt-marine.com (mailto:simon.tucker@srt-marine.com)
 Louise Coates (Marketing Manager)                           louise.coates@srt-marine.com (mailto:louise.coates@srt-marine.com)

 finnCap Ltd
 Jonny Franklin-Adams / Teddy Whiley (Corporate Finance)     +44 (0) 20 7220 0500
 Tim Redfern / Charlotte Sutcliffe (ECM)

About SRT Marine Systems plc:

SRT Marine Systems PLC is a global company which develops and provides
integrated maritime surveillance, monitoring, management and safety systems
used by coast guards, fishery authorities, infrastructure and vessel owners
for the purposes of managing and controlling their maritime domain.
Applications include security, safety, search & rescue, law enforcement,
fisheries management, illegal fishing detection and environment monitoring.

 

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                                                                        Simon Tucker
 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                                                                        SRT Marine Systems PLC
 b)  LEI                                                                         2138002DF3KFXL472938
 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  Ordinary Shares of 0.1p each in SRT Marine Systems plc
     code

ISIN - GB00B0M8KM36
 b)  Nature of the transaction                                                   Grant of Options over Ordinary Shares
 c)  Price(s) and volume(s)                                                      Price(s)                      Volume(s)

                                                                                 125p                          500,000

                                                                                 150p                          500,000

                                                                                 200p                          500,000

                                                                                 250p                          500,000

                                                                                 300p                          500,000
 d)

     Aggregated information

     -      Aggregated volume                                                    2,500,000

     -      Price                                                                500,000 at each price hurdle as noted above in 4 (c).
 e)  Date of the transaction                                                     3 May 2022
 f)  Place of the transaction                                                    London Stock Exchange, AIM

 

 

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