Microgen PLC Award of Options (4068Z)
August 31 2018 - 5:17AM
UK Regulatory
TIDMMCGN
RNS Number : 4068Z
Microgen PLC
31 August 2018
31 August 2018
Microgen Plc (the "Company")
Grant of awards under the Company's Performance Share Plan 2016
("PSP")
On 30 August 2018 Microgen Plc granted awards in the form of
options over ordinary shares ("Ordinary Shares") under the PSP to
the following Directors. Each option has an exercise price per
Ordinary Share equal to the nominal value of an Ordinary Share.
Number of Ordinary
Shares over which award
Director granted
SIMON BAINES 46,289
-------------------------
TOM CRAWFORD 57,087
-------------------------
PHILIP WOOD 49,799
-------------------------
Each award has been granted subject to performance conditions
based on stretching targets relating to growth in Earnings Per
Share over performance period of three financial years starting
with 2018 (as regards 50% of each award) and the Company's Total
Shareholder Return over the same performance period relative to the
TSRs of the constituents of the FTSE SmallCap Index (excluding
investment trusts) (as regards 50% of each award), as set out
below.
EPS element
Annual compound growth in Percentage of the EPS element
EPS that vests
10% 25%
------------------------------
Greater than 10% but less Determined on a straight line
than 12% basis between 25% and 100%
------------------------------
12% or greater than 12% 100%
------------------------------
TSR element
Rank of the Company's TSR Percentage of the TSR element
against the Comparator Group that vests
Median 25%
------------------------------
Between upper quartile and Determined on a straight line
median basis between 25% and 100%
------------------------------
Upper quartile or above 100%
------------------------------
Each award is subject to a further performance condition that
the extent of vesting reflects the overall financial performance of
the Company over the performance period.
Each award will, ordinarily, vest on the second anniversary of
the date on which the Company's Remuneration Committee determines
the extent to which the performance conditions have been
satisfied.
Notification and public disclosure of transactions by PDMRs and
persons closely associated with them
1. Details of PDMR / person closely associated with them ("PCA")
a) Name (i) Simon Baines
(ii) Tom Crawford
(iii) Philip Wood
-------------------------------------------------------- -------------------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position / status (i) Executive Director (CEO, Microgen Financial
Systems)
(ii) Executive Director (CEO, Aptitude Software)
(iii) Executive Director (Chief Financial Officer)
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification / amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3. Details of the issuer
-----------------------------------------------------------------------------------------------------------------
a) Name Microgen Plc
-------------------------------------------------------- -------------------------------------------------------
b) LEI 2138009VHA1WI2VKMA28
-------------------------------------------------------- -------------------------------------------------------
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 Ordinary shares of 6 3/7 pence each
instrument
-------------------------------------------------------- -------------------------------------------------------
b) Identification code GB00BVVHWX30
-------------------------------------------------------- -------------------------------------------------------
c) Nature of the transaction Grant of awards over Ordinary Shares under the
Company's Performance Share Plan 2016
-------------------------------------------------------- -------------------------------------------------------
d) Price(s) and Name Price(s) Volume(s)
volume(s) Simon Baines N/A 46,289
---------- ----------
Tom Crawford N/A 57,087
---------- ----------
Philip Wood N/A 49,799
---------- ----------
-------------------------------------------------------- -------------------------------------------------------
e) Aggregated information N/A
* Volume
* Price
-------------------------------------------------------- -------------------------------------------------------
f) Date of the transaction 30 August 2018
-------------------------------------------------------- -------------------------------------------------------
g) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
Name of contact: MARK HEATHER, COMPANY SECRETARY
Address of contact: OLD CHANGE HOUSE, 128 QUEEN VICTORIA STREET,
LONDON, EC4V 4BJ
Telephone number of contact: 020 7496 8100
www.microgen.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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