23 January 2025
Tracsis plc
("Tracsis", "the Group" or "the
Company")
Award of Options
Tracsis, a leading transport technology
provider, announces that following a meeting of the Group's
Remuneration Committee, on 22 January 2025 it awarded 82,774 share
options to Chris Barnes, Chief Executive Officer and PDMR of the
Company and 57,046 share options to Andy Kelly, Chief
Financial Officer and PDMR of the Company.
In addition to the above, authority was
provided to the Executive Directors to award share options to other
senior managers who are not PDMRs of the Company, resulting in a
total award not exceeding 319,000 shares (including those awarded
to the Executive Directors).
Subject to performance conditions and vesting,
these options will become exercisable on 1 December
2027.
This award is part of Tracsis' Long Term
Incentive Plan (LTIP) and is designed to retain and motivate the
senior leadership team whilst at the same time setting challenging
performance targets that are specifically aligned with the Group's
strategic goals and shareholder interests.
The options awarded have an exercise price of
0.4p and are directly linked to performance targets based on Group
profitability and Total Shareholder Return relative to an AIM peer
group determined by Tracsis' Remuneration Committee.
The full award is only exercisable should the
compound annual growth rate for adjusted diluted Earnings Per Share
(EPS) for the year ending 31 July 2027 compared with the same
measure for the year ending 31 July 2024 be at least 27%, and Total
Shareholder Return (TSR) versus AIM peer group is in the top
quartile. Where the compound annual growth rate for adjusted
diluted EPS for the year ending 31 July 2027 compared with the same
measure for the year ending 31 July 2024 is less than 17%, and TSR
versus the peer group is less than the median, no options will be
exercisable. For scenarios between the above range, the options
will be exercisable on a straight line sliding scale
basis.
The resulting interests of Chris Barnes and Andy
Kelly in Tracsis can be summarised as follows:
|
Director
|
Ordinary shares
of 0.4p held
|
% of issued
share capital
|
LTIP Options
held prior to this award
|
LTIP Options
awarded
|
LTIP Options
after this award
|
|
Chris Barnes
|
44,305
|
0.15%
|
70,371
|
82,774
|
153,145
|
|
Andy Kelly
|
12,996
|
0.04%
|
48,058
|
57,046
|
105,104
|
Following the award, there are a total of
841,715 options outstanding, representing approximately 2.8% of the
current issued share capital of the Company
|
Tracsis plc
Jan Mitson
Group Company Secretary
|
+44 (0)845 125 9162
|
|
Berenberg (Nominated Adviser, Corporate Broker & Financial
Adviser)
Mark Whitmore / Richard Andrews /
Mollie D'Arcy Rice
James Thompson (QE)
|
+44 (0)20 3207 7800
|
Notification and public disclosure
of transactions by persons discharging managerial responsibilities
and persons closely associated with them.
Transaction Details - Chris
Barnes
1.
|
Details of the person discharging
managerial responsibilities/person closely associated
|
|
a)
|
Name:
|
Chris Barnes
|
1.
|
Reason for the
notification
|
|
a)
|
Position/status:
|
Chief Executive Officer
|
|
b)
|
Initial
notification/Amendment:
|
Initial notification
|
2.
|
Details of the issuer, emission
allowance market participant, auction platform, auctioneer or
auction monitor
|
|
a)
|
Name:
|
Tracsis plc
|
|
b)
|
LEI:
|
2138005I15G3HBN2WD92
|
3.
|
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:
Identification code:
|
Ordinary Shares of 0.4 pence
each
GB00B28HSF71
|
|
b)
|
Nature of the
transaction:
|
Award of LTIP options
|
|
c)
|
Price(s) and volume(s):
|
|
Price(s)
|
Volume(s)
|
|
0.4 pence
|
82,774
|
|
|
d)
|
Aggregated information:
· Aggregated volume:
· Price:
|
As above
|
|
e)
|
Date of the transaction:
|
22 January 2025
|
|
f)
|
Place of the transaction:
|
Away from a trading venue
|
Transaction Details - Andy Kelly
1.
|
Details of the person discharging
managerial responsibilities/person closely associated
|
|
a)
|
Name:
|
Andy
Kelly
|
1.
|
Reason for the
notification
|
|
a)
|
Position/status:
|
Chief Financial Officer
|
|
b)
|
Initial
notification/Amendment:
|
Initial notification
|
2.
|
Details of the issuer, emission
allowance market participant, auction platform, auctioneer or
auction monitor
|
|
a)
|
Name:
|
Tracsis plc
|
|
b)
|
LEI:
|
2138005I15G3HBN2WD92
|
3.
|
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:
Identification code:
|
Ordinary Shares of 0.4 pence
each
GB00B28HSF71
|
|
b)
|
Nature of the
transaction:
|
Award of LTIP options
|
|
c)
|
Price(s) and volume(s):
|
|
Price(s)
|
Volume(s)
|
|
0.4 pence
|
57,046
|
|
|
d)
|
Aggregated information:
· Aggregated volume:
· Price:
|
As above
|
|
e)
|
Date of the transaction:
|
22 January 2025
|
|
f)
|
Place of the transaction:
|
Away from a trading venue
|