TIDMIDEA
RNS Number : 4001U
Ideagen PLC
29 March 2019
Ideagen PLC
("Ideagen," "the Company" or the "Group")
Extension to 2018 Long Term Incentive Plan awards
Ideagen PLC (AIM: IDEA), a leading supplier of Information
Management software to highly regulated industries, announces the
award of a total of 2,500,000 share options over the Company's
ordinary shares of 1p each ("Ordinary Shares"), under an extension
to the Company's 2018 Long Term Incentive Plan, to the following
directors and executives of the Company:
Name Position Number of options
awarded
Graeme Spenceley Executive Director - CFO 750,000
-------------------------- ------------------
Barnaby Kent Executive Director - COO 750,000
-------------------------- ------------------
Paul Marshall Chief Customer Officer 500,000
-------------------------- ------------------
Ian Hepworth Chief Technology Officer 500,000
-------------------------- ------------------
The award of these options will be known as the 2018 LTIP
Extension ("the Award").
On 23 March 2017, the Company had awarded options to Mr
Spenceley and Mr Kent pursuant to the terms of the 2017 Long Term
Incentive Plan ("2017 LTIP").
These 2017 LTIP options were issued with the principal aim,
which has now been achieved, of becoming fully exercisable on the
Company achieving a share price of 136 pence, which represented a
doubling of the share price from the 68 pence condition set in the
previous 2015 Long Term Incentive Plan. Accordingly, all of the
2017 LTIP options had been exercised by October 2018.
The principles underpinning the Award are the same as those of
the 2018 LTIP award made to Mr Ben Dorks, Chief Executive Officer,
announced on 23 October 2018, insofar as the options under the
Award will be subject to the following challenging performance
criteria: one half become eligible to vest on the Company's share
price reaching 196 pence over 30 consecutive business days with the
remainder becoming eligible to vest on the Company's share price
reaching 259 pence over 30 consecutive business days.
Options issued pursuant to the Award will not vest until the
third anniversary of the grant date. Thereafter, any Ordinary
Shares issued in respect of the exercise of any of these options
cannot be sold until the fourth anniversary of the grant date
except to meet the taxation costs arising on the exercise of those
options. They are also subject to continued service throughout as
well as the aforementioned achievement of specific performance
targets relating to the Company's share price. These options each
have an exercise price of 1 pence per Ordinary Share.
Following the award of these options, there are now 11,261,667
options over Ordinary Shares in issue representing 5.1% of the
issued share capital of the Company.
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014. The Company confirms that it is
no longer in possession of any unpublished price sensitive
information.
Enquiries:
Ideagen plc 01629 699100
David Hornsby, Executive Chairman
Ben Dorks, Chief Executive
Graeme Spenceley, Finance Director
finnCap Limited 020 7220 0500
Henrik Persson/James Thompson
(Nomad)
Alice Lane (ECM)
Canaccord Genuity 020 7523 8000
Simon Bridges
Ben Griffiths
Jack Haynes
About Ideagen plc
Ideagen is a UK-headquartered, global technology company quoted
on the London Stock Exchange AIM market (Ticker: IDEA.L).
The Group provides software and services to organisations
operating within highly regulated industries such as aviation,
banking and finance and life science, with its main operational
premises spread throughout the UK, EU, US, Middle East and SE
Asia.
With an excellent portfolio of software products including
Q-Pulse, Coruson, Pentana Audit, Pentana Performance and
PleaseReview, Ideagen helps its clients reduce costs, improve
operational efficiency, strengthen compliance and oversight and
anticipate and manage every detail of risk.
Currently, more than 3,700 organisations use Ideagen's products
including seven of the top 10 UK accounting firms, all of the top
aerospace and defence companies and 75% of the world's leading
pharmaceutical firms.
Ideagen's diverse and varied customer base includes many
well-known, global brands such as British Airways, Aggreko, BAE,
Ryanair, US Navy, KLM, BBVA, Bank of New York, Commerzbank,
Meggitt, Heineken, Johnson Matthey, Haeco Group and European
Central Bank. As well as this, Ideagen counts 180 hospitals across
the UK and US amongst its client base.
For further information please visit www.ideagen.com.
Details of the person discharging managerial responsibilities/person closely associated
a) Name: Graeme Spenceley
2. Reason for the notification
a) Position/status: Chief Financial Officer
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name: Ideagen plc
b) LEI: 213800KS1MLITOVNYC85
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: Options over Ordinary shares of 1 pence each
Identification code:
GB00B0CM0C50
b) Nature of the transaction: Grant of Options
c) Price(s) and volume(s): Price(s) Volume(s)
1 pence 750,000
d) Aggregated information: N/A
-- Aggregated volume:
-- Price:
e) Date of the transaction: 28 March 2019
f) Place of the transaction: Off market transaction
Details of the person discharging managerial responsibilities/person closely associated
a) Name: Barnaby Kent
2. Reason for the notification
a) Position/status: Chief Operating Officer
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name: Ideagen plc
b) LEI: 213800KS1MLITOVNYC85
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: Options over Ordinary shares of 1 pence each
Identification code:
GB00B0CM0C50
b) Nature of the transaction: Grant of Options
c) Price(s) and volume(s): Price(s) Volume(s)
1 pence 750,000
d) Aggregated information: N/A
-- Aggregated volume:
-- Price:
e) Date of the transaction: 28 March 2019
f) Place of the transaction: Off market transaction
Details of the person discharging managerial responsibilities/person closely associated
a) Name: Paul Marshall
2. Reason for the notification
a) Position/status: Chief Customer Officer
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name: Ideagen plc
b) LEI: 213800KS1MLITOVNYC85
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: Options over Ordinary shares of 1 pence each
Identification code:
GB00B0CM0C50
b) Nature of the transaction: Grant of Options
c) Price(s) and volume(s): Price(s) Volume(s)
1 pence 500,000
d) Aggregated information: N/A
-- Aggregated volume:
-- Price:
e) Date of the transaction: 28 March 2019
f) Place of the transaction: Off market transaction
Details of the person discharging managerial responsibilities/person closely associated
a) Name: Ian Hepworth
2. Reason for the notification
a) Position/status: Chief Technology Officer
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name: Ideagen plc
b) LEI: 213800KS1MLITOVNYC85
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: Options over Ordinary shares of 1 pence each
Identification code:
GB00B0CM0C50
b) Nature of the transaction: Grant of Options
c) Price(s) and volume(s): Price(s) Volume(s)
1 pence 500,000
d) Aggregated information: N/A
-- Aggregated volume:
-- Price:
e) Date of the transaction: 28 March 2019
f) Place of the transaction: Off market transaction
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END
MSCJPMLTMBMTBJL
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