REG - Synectics PLC - PDMRs' Interests in Shares

SynecticsAnnouncement

14/03/2023 07:15

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RNS Number : 8080S  Synectics PLC  14 March 2023

 

 RNS                 14 March 2023

      14 March 2023

 

 

Synectics plc

("Synectics" or the "Company")

 

PDMRs' Interests in Shares

 

Synectics plc (AIM: SNX), a leader in the design, integration and support of
advanced security and surveillance systems, announces that it has made an
award of options ("Options") over in aggregate 80,000 ordinary shares of 20p
each in the Company ("Ordinary Shares") under its existing Performance Share
Plan ("PSP"), to certain employees, including two Persons Discharging
Managerial Responsibility ("PDMRs"), details of which are set out below:

 

 Name           Number of Options
 David Gavin    20,000
 Iain Stringer  20,000

 

Following these awards, the PDMRs' total interests in Ordinary
Shares comprise:

 

                                       Interest in Ordinary Shares in Synectics share schemes

                Number of                                                                      Resultant total interest in Ordinary Shares   % of issued share capital

                Ordinary Shares held

 Name
 David Gavin    -                      60,000                                                  60,000                                        0.34%
 Iain Stringer  12,210                 60,000                                                  72,210                                        0.41%

 

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.

 

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 2021, copies of which are available on the Company's
website, www.synecticsplc.com (http://www.synecticsplc.com/) .

 

For further information, please contact:

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

 Paul Webb, Chief Executive         www.synecticsplc.com (http://www.synecticsplc.com)

 Amanda Larnder, Finance Director
 Claire Stewart, Company Secretary
 email: info@synecticsplc.com

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

 

 

About Synectics plc
 
Synectics (AIM: SNX) is a leader in the design, integration and support of advanced security and surveillance systems that enable clients around the world to protect their people, communities, and assets.
 
Founded over 30 years ago, Synectics has deep industry experience across gaming, energy, urban transport, public space and critical infrastructure projects. The group's expert engineering teams work in partnership with customers to create integrated product and technology platforms, proven in the most complex and demanding operating environments.

 

Find out more at
www.synecticsplc.com (http://www.synecticsplc.com/)

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