TIDMELCO
RNS Number : 5231U
Eleco PLC
02 August 2022
2 August 2022
Eleco Plc
("Eleco", "Group" or the "Company")
Issue of Options
The Board of Eleco plc (AIM: ELCO), the AIM-listed construction
software specialist, advises that on 1 August 2022 the Company
issued a total of 750,000 options to subscribe for new ordinary
shares of 1p each (the "Ordinary Shares") in the Company under the
Eleco 2014 Share Option Plan (the "Options").
250,000 options were granted to Jonathan Hunter, CEO of the
Company. Of these, 150,000 are market priced options, which have no
vesting criteria other than to remain in employment by the Group
and shall vest after a 3-year vesting period. 100,000 are nominal
cost options which shall vest after 3 years if certain performance
criteria related to recurring revenue growth, overall revenue
growth and share price growth are met. To fully vest, Eleco will
need to achieve significant revenue growth from current levels and
will need to outperform against current market forecasts.
The remaining 500,000 Options were granted to various employees
of the Company, which are market priced options with no vesting
criteria other than to remain in employment by the Group and shall
vest after a 3-year vesting period.
All market priced options are exercisable at 70 pence. All
Options will expire on 31 July 2032. Details of PDMR awards are
included in the disclosure notices at the end of this
announcement.
Director/PDMR Options issued Total options held
post issue
Jonathan Hunter 250,000 850,000
--------------- -------------------
Birgit Lenton 100,000 100,000
--------------- -------------------
Luben Kirov 100,000 100,000
--------------- -------------------
Following the issue of the Options, the total number of options
in issue post award is 2,750,000, representing approximately 3.3%
of the Company's issued share capital.
Enquiries:
Eleco plc +44 (0)20 7422 8000
Jonathan Hunter, Chief Executive
Officer
Rose Clark, Interim CFO
finnCap Limited +44 (0)20 7220 0500
Geoff Nash / Kate Bannatyne /
James Balicki (Corporate Finance)
Richard Chambers / Charlotte Sutcliffe
(ECM)
SEC Newgate UK +44 (0)20 3757 6882
Elisabeth Cowell / Bob Huxford eleco@secnewgate.co.uk
/ Isabelle Smurfit
About Eleco plc
Eleco plc is an AIM-listed (AIM: ELCO) specialist international
provider of software and related services to the Architectural,
Engineering, Construction and Owner/Operator (AECO) industries and
interior furnishing industries from centres of excellence in the
UK, Sweden, Germany and the Netherlands.
The Company's market-leading Elecosoft software solutions are
developed by teams in the United Kingdom, Sweden and Germany, and
its solutions cover project management, estimating, timber
engineering, CAD and visualisation, asset and facility management
and cloud-based digital marketing solutions.
For further information please visit www.eleco.com .
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1. Details of PDMR / person closely associated with them
('PCA')
a) Name Jonathan Hunter
--------------------------------- -----------------------------------
2. Reason for the Notification
----------------------------------------------------------------------
a) Position / status Chief Executive Officer
--------------------------------- -----------------------------------
b) Initial notification Initial notification
/amendment
--------------------------------- -----------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name Eleco plc
--------------------------------- -----------------------------------
b) LEI 21380016GT9Z6ZQX4T37
--------------------------------- -----------------------------------
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 Ordinary shares of 1p each
the financial instrument,
type of instrument
--------------------------------- -----------------------------------
Identification GB0003081246
code
--------------------------------- -----------------------------------
b) Nature of the transaction Grant of options
--------------------------------- -----------------------------------
c) Price(s) and volume(s) Name Price(s) Volume(s)
Jonathan
Hunter 1p 100,000
70p 150,000
d) Aggregated information:
Aggregated volume 250,000
Price GBP106,000
--------------------------------- -----------------------------------
e) Date of the transaction 1 August 2022
--------------------------------- -----------------------------------
f) Place of the transaction Outside of a trading venue
--------------------------------- -----------------------------------
1. Details of PDMR / person closely associated with them
('PCA')
a) Name Birgit Lenton
------------------------------ ------------------------------------------
2. Reason for the Notification
--------------------------------------------------------------------------
a) Position / status Group Transformation Director / PDMR
------------------------------ ------------------------------------------
b) Initial notification Initial notification
/amendment
------------------------------ ------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Eleco plc
------------------------------ ------------------------------------------
b) LEI 21380016GT9Z6ZQX4T37
------------------------------ ------------------------------------------
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 Ordinary shares of 1p each
the financial instrument,
type of instrument
------------------------------ ------------------------------------------
Identification GB0003081246
code
------------------------------ ------------------------------------------
b) Nature of the transaction Grant of options
------------------------------ ------------------------------------------
c) Price(s) and volume(s) Name Price(s) Volume(s)
Birgit Lenton 70p 100,000
d) Aggregated information:
Aggregated volume 100,000
Price GBP70,000
------------------------------ ------------------------------------------
e) Date of the transaction 1 August 2022
------------------------------ ------------------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------ ------------------------------------------
1. Details of PDMR / person closely associated with them
('PCA')
a) Name Luben Kirov
------------------------------- -------------------------------------
2. Reason for the Notification
----------------------------------------------------------------------
a) Position / status Chief Technology Officer / PDMR
------------------------------- -------------------------------------
b) Initial notification Initial notification
/amendment
------------------------------- -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name Eleco plc
------------------------------- -------------------------------------
b) LEI 21380016GT9Z6ZQX4T37
------------------------------- -------------------------------------
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 Ordinary shares of 1p each
the financial instrument,
type of instrument
------------------------------- -------------------------------------
Identification GB0003081246
code
------------------------------- -------------------------------------
b) Nature of the transaction Grant of options
------------------------------- -------------------------------------
c) Price(s) and volume(s) Name Price(s) Volume(s)
Luben Kirov 70p 100,000
d) Aggregated information:
Aggregated volume 100,000
Price GBP70,000
------------------------------- -------------------------------------
e) Date of the transaction 1 August 2022
------------------------------- -------------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------- -------------------------------------
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END
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