REG - Synectics PLC - Directors / PDMRs' Interests in Shares

SynecticsAnnouncement

26/03/2024 07:15

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RNS Number : 2436I  Synectics PLC  26 March 2024

 

26 March 2024

 

 

Synectics plc

("Synectics" or the "Company")

 

Directors / PDMRs' Interests in Shares

 

Synectics plc (AIM: SNX), a leader in advanced security and surveillance
systems, announces that it has made an award of options ("Options") over, in
aggregate, 140,000 ordinary shares of 20p each in the Company ("Ordinary
Shares") under its existing Performance Share Plan ("PSP"),  to certain
Directors and Persons Discharging Managerial Responsibility ("PDMRs"), under
its existing Performance Share Plan ("PSP"), as detailed below:

 

 Name            Position                    Status              Number of Options
 Paul Webb       Chief Executive Officer     Executive Director  60,000
 Amanda Larnder  Chief Financial Officer     Executive Director  40,000
 David Aindow    Business Strategy Director  PDMR                20,000
 David Gavin     Divisional Director         PDMR                20,000

 

Following these purchases, the above Directors' and PDMRs' interests in the
Ordinary Shares are as follows:

 

 Name            Number of Ordinary Shares held  Interest in Ordinary Shares in share schemes  Resultant total interest               % of issued share capital
 Paul Webb       57,115                          515,079                                       632,194                                3.55
 Amanda Larnder  4,326                           164,000                                       168,326                                0.95
 David Aindow    2,000                                           80,000                                        82,000                 0.46
 David Gavin     0                                               80,782                                        80,782                 0.45

 

Under the PSP, selected employees are entitled to exercise an option to
receive a certain number of Ordinary Shares at any time after a three-year
vesting period, exercisable at nil cost. The number of Ordinary Shares that
are awarded at the end of the three-year period is dependent on the
achievement of certain performance criteria and must be exercised within ten
years of the date of award.

 

Vesting of the PSP award is measured according to the average of the Compound
Annual Growth Rate ("CAGR") of the Total Shareholder Return Index and the CAGR
of Adjusted Underlying Diluted Earnings Per Share. If this average is 20% or
more, 100% of the award will vest. If this average is above 10% and below 20%,
between 0% and 100% of the award will vest on a straight-line basis. If the
average is 10% or less, 0% of the award will vest.

 

Any entitlement under the PSP will lapse on cessation of employment prior to
the end of the three-year vesting period, unless cessation of employment is by
reason of redundancy, ill health or death.

 

Should the performance criteria be met in full or in part for the Options, it
is intended that the appropriate number of Options will be satisfied firstly
from any unallocated Ordinary Shares already held within the Company's
employee benefit trust with the balance to be satisfied from a new issue of
Ordinary Shares.

 

Full details of the PSP were set out in the Company's Annual Report for the
year ended 30 November 2023, copies of which are available on the Company's
website, www.synecticsplc.com
(https://url.avanan.click/v2/___http:/www.synecticsplc.com/___.YXAxZTpzaG9yZWNhcDphOm86NTYwYTllNmRlNmEwMDZmMWYwNTkzZGIxYTRhYzMwZGI6NjozOGZiOmRjYTAwYWJiMGQ0MGIwYTE3ODQxNDAwOGE1ZTNjMTE4MjBlOGJhNTc4MDE4NTI4Yzc0MWUwOWViYTE1MjBlNWI6cDpG)
.

 

For further information, please contact:

 

 Synectics plc                                                 Tel: +44 (0) 114 280 2828

 Paul Webb, Chief Executive Officer                            www.synecticsplc.com

                                                             (https://url.avanan.click/v2/___http:/www.synecticsplc.com___.YXAxZTpzaG9yZWNhcDphOm86NTYwYTllNmRlNmEwMDZmMWYwNTkzZGIxYTRhYzMwZGI6NjpmZDdmOjU4MjU3MDliNWJmOWIyMGFjMjkxZGZhYzcwNzk1ZjUxY2FkNGM5NWQyYWU4ODAxMTUxOTg3ZDc1ZmNkYjk3NWI6cDpG)
 Amanda Larnder, Chief Financial Officer

 Claire Stewart, Company Secretary

 email: info@synecticsplc.com (mailto:info@synecticsplc.com)

 Shore Capital                                                 Tel: +44 (0) 20 7408 4090
 Tom Griffiths / David Coaten / Rachel Goldstein

 
 Vigo Consulting                                                           Tel: +44 (0) 20 7390 0230

 Jeremy Garcia / Fiona Hetherington / Aisling Fitzgerald

 synectics@vigoconsulting.com (mailto:synectics@vigoconsulting.com)

 

About Synectics plc
 
Synectics (AIM: SNX) is a leader in advanced security and surveillance systems that help protect people, property, communities, and assets around the world.

 

The Company's expertise is in providing solutions for specific markets where security and surveillance are critical to operations. These include gaming, oil and gas, public space, transport, and critical infrastructure.

 

Synectics has deep industry experience in these markets and works closely with customers to deliver solutions that are tailored to meet their needs. Technical excellence, combined with decades of experience and long-standing customer relationships, provides fundamental differentiation from mainstream suppliers and makes the Company a stand-out in its field.

 

Find out more at
www.synecticsplc.com (https://url.avanan.click/v2/___http:/www.synecticsplc.com___.YXAxZTpzaG9yZWNhcDphOm86NTYwYTllNmRlNmEwMDZmMWYwNTkzZGIxYTRhYzMwZGI6NjpmZDdmOjU4MjU3MDliNWJmOWIyMGFjMjkxZGZhYzcwNzk1ZjUxY2FkNGM5NWQyYWU4ODAxMTUxOTg3ZDc1ZmNkYjk3NWI6cDpG)

 

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