REG - Tialis Essential IT - Grant of Options

Tialis Essential ITAnnouncement

18/12/2023 07:45

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RNS Number : 0666X  Tialis Essential IT PLC  18 December 2023

18 December 2023

 

Tialis Essential IT Plc

("Tialis" or the "Company" or "Group")

Grant of Options

Tialis, the mid-market network, cloud and IT Managed Services provider,
announces that on 15 December 2023 it granted a total of 1,547,288 share
options to executive directors, senior managers, employees and consultants of
the Company (the "Share Options"). Of the total Share Options, 400,000 were
granted to Andy Parker, Executive Chairman, and 400,000 were granted to Ian
Smith, Executive Director.

The award of the Share Options is part of Tialis' Long Term Incentive Plan
("LTIP") and is designed to retain and motivate the senior leadership team,
employees and consultants. Under the rules of the LTIP, the Share Options are
being granted at nil cost or the nominal value of the Company's ordinary
shares of 1p each and are subject to vesting rules (the "Vesting Rules").

 

Under the Vesting Rules, the Share Options will vest as follows:

 

-      the second anniversary of the Grant Date: One-third of Award
vests;

-      the third anniversary of the Grant Date: Two-thirds of Award
vests; and

-      the fourth anniversary of the Grant Date: Remainder of Award
vests.

 

The shares cannot be issued until the Group releases them in accordance with
the rules of the LTIP.

 

If the relevant trading company of Tialis is sold or the overall Group is
taken over, the award will vest and be released in full, subject to the
detailed rules of the LTIP. It is at this point that the employee can realise
the value of their Share Options.

 

The resulting interests of Andy Parker and Ian Smith in Tialis can be
summarised as follows:

 

 Director     Ordinary shares of 1p held  % of issued share capital  LTIP Options held prior to this award  LTIP Options awarded
 Andy Parker  -                           -                          -                                      400,000
 Ian Smith*   293,000                     1.21%                      -                                      400,000

 

* Mr Smith is also the Chief Executive Officer and major shareholder of MXC
Capital Limited ("MXC") whose holding of 18,204,685 Ordinary Shares represents
75.16% of the Company's issued ordinary share capital. Mr Smith and MXC hold
in aggregate 18,497,685 Ordinary Shares, representing 76.36% of the Company's
issued ordinary share capital.

 

Following the grant of Share Options, there is a total of 1,547,288 Share
Options outstanding, representing approximately 6.39% of the current issued
share capital of the Company.

 

 

For more information, contact:

 

 Tialis Essential IT Plc                               Tel: +44 (0)344 874 1000

 Andy Parker, Executive Chairman

 Cavendish Capital Markets Limited                     Tel: +44 (0)20 7220 0500

 Nominated Adviser and Broker

 Corporate finance: Jonny Franklin-Adams/ Abby Kelly

 ECM: Tim Redfern

 

 

The notifications set out below is provided in accordance with the
requirements of the EU Market Abuse Regulation.

 

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                                                         Ian Smith
 2   Reason for the notification
 a)  Position/status                                              Executive Director
 b)  Initial notification/ Amendment                              Initial notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Tialis Essential IT plc
 b)  LEI                                                          213800HA4PK7BHINK929
 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 1p each

     Identification code

                                                                  GB00BN4M3M55
 b)  Nature of the transaction                                    Options granted under the Long Term Incentive Plan
 c)  Price(s) and volume(s)                                       Exercise Price(s)  Volume(s)
                                                                  1p                 400,000
 d)  Aggregated information

     -     Aggregated volume                                      Single transaction as in 4c) above

     -     Price
 e)  Date of the transaction                                      15 December 2023
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

-     Aggregated volume

-     Price

 

Single transaction as in 4c) above

 

e)

Date of the transaction

15 December 2023

f)

Place of the transaction

Outside a trading venue

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Andy Parker
 2   Reason for the notification
 a)  Position/status                                              Executive Chairman
 b)  Initial notification/ Amendment                              Initial notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Tialis Essential IT plc
 b)  LEI                                                          213800HA4PK7BHINK929
 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 1p each

     Identification code

                                                                  GB00BN4M3M55
 b)  Nature of the transaction                                    Options granted under the Long Term Incentive Plan
 c)  Price(s) and volume(s)                                       Exercise Price(s)  Volume(s)
                                                                  1p                 400,000
 d)  Aggregated information

     -     Aggregated volume                                      Single transaction as in 4c) above

     -     Price
 e)  Date of the transaction                                      15 December 2023
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

-     Aggregated volume

-     Price

 

Single transaction as in 4c) above

 

e)

Date of the transaction

15 December 2023

f)

Place of the transaction

Outside a trading venue

 

 

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