Tracsis PLC Grant of options (5957T)

TIDMTRCS

RNS Number : 5957T

Tracsis PLC

09 January 2017

9 January 2017

Tracsis plc

("Tracsis" or the "Group")

Grant of options

Tracsis announces that, following a meeting of the Group's remuneration committee on 5 January 2017, it formally granted 43,045 share options on 6 January 2017 to John McArthur, Chief Executive Officer and 28,697 to Max Cawthra, Chief Finance Officer, together the Group's Executive Directors.

The remuneration committee believes it is important to retain and motivate Executive Directors whilst at the same time setting challenging performance targets that are aligned with the Group's strategic goals and in shareholders' 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.

Full award is only exercisable should statutory diluted Earnings Per Share (EPS) for the year ending 31 July 2019 be 17.38p, and Total Shareholder Return (TSR) versus AIM peer group is in the top quartile. Where statutory diluted EPS for the year ending 31 July 2019 be less than 14.38p, 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 John McArthur and Max Cawthra in Tracsis plc can be summarised as follows:

 
                  Ordinary    % of issued   LTIP Options   LTIP Options   LTIP Options 
                   shares      share         held prior     awarded        after 
                   of 0.4p     capital       to this                       this award 
                   held                      award 
 
 John McArthur    1,062,783   3.8%          92,727         43,045         135,772 
 Max Cawthra      177,860     0.6%          71,981         28,697         100,678 
 

For more information please contact:

 
 John McArthur/Max Cawthra,         Tel: [phone] 
  Tracsis plc                        9162 
 Dominic Emery/Matt Lewis,          Tel: [phone] 
  Investec Bank plc                  4000 
 Rebecca Sanders-Hewett / Sarah     Tel: [phone] 
  Fabietti-Dallison / Sam Modlin,    4730 
  Redleaf Communications             [e-mail] 
 

Notes to editors:

-- The Group specialises in solving a variety of data capture, reporting and resource optimisation problems along with the provision of a range of associated professional services.

-- Tracsis' products and services are used to increase efficiency, reduce cost and improve the operational performance and decision making capabilities for clients and customers.

-- The Company offers the following services:

- Rail Technology & Services: Software and technology led consulting, and Remote Condition Monitoring: Industry strength software that covers a variety of asset classes working alongside consulting and related professional services across the operational and strategic planning horizon, plus Technology and reporting for critical infrastructure assets in real time, to identify problems and aid with preventative maintenance.

- Traffic & Data Services: Collation, analytical services, and event management within traffic and pedestrian rich environments.

-- Tracsis has a blue chip client base which includes the majority of UK transport operators. The business also works extensively with Network Rail, the Department of Transport, multiple local authorities, Silverstone, Goodwood, and a variety of large engineering/infrastructure companies.

-- The business drives growth both organically and through acquisition and has made eight acquisitions since 2008.

-- Tracsis listed on AIM in 2007 under ticker TRCS.

-- For more information visit http://www.tracsis.com

This information is provided by RNS

The company news service from the London Stock Exchange

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January 09, 2017 05:00 ET (10:00 GMT)