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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Elektron Technology Plc | LSE:EKT | London | Ordinary Share | GB00B0C5RG72 | ORD 5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 53.50 | 53.00 | 54.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMEKT
RNS Number : 7627F
Elektron Technology PLC
01 August 2016
Elektron Technology plc
("Elektron" or the "Company")
Director / PDMR Shareholding
Elektron Technology plc announces that on 28 July 2016, following the conclusion of the Company's Annual General Meeting and as reported in the Remuneration Report of the Company's Report & Accounts for the year ending 31 January 2016:
1. Certain directors and PDMRs disposed of their interests in shares in the Company that were jointly held with the trustee of the Elektron Technology plc 2012 Employee Benefit Trust ("Trustee") pursuant to the Company's 2012 Joint Share Ownership Plan ("JSOP"), to the Trustee. The consideration paid by the Trustee was 1 share in the Company for every 4 jointly held shares transferred to the Trustee by the relevant director or PDMR;
2. The Trustee granted to each of John Wilson and Keith Daley an option to acquire shares in the Company at an exercise price equal to the mid-market price of the Company's shares at close of business on the day before the date of exercise ("Market Value Option");
3. The Company established a new long-term incentive plan ("LTIP"). Under the terms of the LTIP, new shares in a direct wholly owned subsidiary of the Company, Elektron Technology UK Limited ("ETUK") ("ETUK Shares") may be issued to certain employees and/or executive directors of the Group.
The ETUK Shares are subject to performance conditions over the performance period to 31 January 2019, relating to: (i) a consolidated cash balance for the Group of GBP8 million; and (ii) target share prices for the Company's shares (with a minimum share price hurdle of 15p, for 75% vesting). At the end of the performance period, or in connection with a corporate transaction, subject to achievement of the performance targets, the ETUK Shares can be put to the Company or the Trustee in consideration of an amount in cash or shares in the Company equal to:
(A - B + C) * 1,000, where:
-- A = the market value of the Company's shares (determined under the LTIP) -- B = 10p and -- C = any cash distributed to the Company's shareholders during the performance period.
The terms of the LTIP, including the performance targets, are set out in greater detail in the Company's 2016 Remuneration Report;
4. ETUK Shares were awarded under the LTIP to each of John Wilson and Andy Weatherstone in consideration of the agreement by them to become employee shareholders under section 205A of the Employment Rights Act 1996; and
5. An option under the Company's Company Share Option Plan was granted to Andy Weatherstone.
The Company further announces that on 29 July 2016:
6. Each of John Wilson and Keith Daley exercised their Market Value Option to acquire shares in the Company granted by the Trustee on 28 July 2016, in part, at an exercise price equal to the mid-market price of the Company's shares at close of business on 28 July.
The resulting shares and options held by Keith Daley, John Wilson and Andy Weatherstone following the above transactions are as follows:
Hot Features
Premium
Keith Daley John Wilson Andy Weatherstone
----------------- ------------ ------------ ------------------
19,710,516 2,016,161
Shares* (10.59%) (1.08%) 50,000 (0.027%)
----------------- ------------ ------------ ------------------
Options at
market price** 2,541,500 1,941,500 Nil
----------------- ------------ ------------ ------------------
Options at
5.25p Nil Nil 571,425
----------------- ------------ ------------ ------------------
Options awarded
under new LTIP Nil 5,000,000 2,500,000
----------------- ------------ ------------ ------------------
* Percentages represent the percentage of the issued share capital of 186,100,851 as at 29 July 2016
** At the higher of 5 pence or mid-market price
Following the above transactions the Elektron Technology plc 2012 Employee Benefit Trust will be interested in 10,683,650 ordinary shares in the capital of the Company, representing 5.74 per cent of the Company's issued share capital.
For further information:
+44 (0) 1223 371
Elektron Technology www.elektron-technology.com 000
Andy Weatherstone - Chief Financial
Officer
Martin Reeves - Company Secretary
finnCap (Nominated Adviser and +44 (0)20 7220
Broker) 0500
Ed Frisby/Scott Mathieson (Corporate
Finance)
Malar Velaigam (Corporate Broking)
The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation, and set out more details of the transactions.
1. Details of PDMR
---- -------------------------------------------------------------
(a) Name John Wilson
---- ----------------------- ------------------------------------
2. Reason for notification
---- -------------------------------------------------------------
(b) Position / status Chief Executive Officer
---- ----------------------- ------------------------------------
(c) Initial notification Initial notification
/ amendment
---- ----------------------- ------------------------------------
3. Details of the Issuer
---- -------------------------------------------------------------
(a) Name Elektron Technology plc
---- ----------------------- ------------------------------------
(b) LEI n/a
---- ----------------------- ------------------------------------
4.1 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 transaction(s)
have been conducted
---- -------------------------------------------------------------
(a) Description Ordinary shares of 5p each
of the financial in the capital of the Company
instrument ("Shares"), jointly held with
the Elektron Technology 2012
Employee Benefit Trust pursuant
to the Elektron Technology
2012 Joint Share Ownership
Plan
---- ----------------------- ------------------------------------
(b) Nature of the Disposal of interests in Shares
transaction
---- ----------------------- ------------------------------------
(c) Price(s) and 3,922,000 jointly held Shares,
volume in consideration of the transfer
of 980,500 Shares
---- ----------------------- ------------------------------------
(d) Aggregated information Refer to section 4.5 (d)
---- ----------------------- ------------------------------------
(e) Date of the 28 July 2016
transaction
---- ----------------------- ------------------------------------
(f) Place of the Outside a trading venue
transaction
---- ----------------------- ------------------------------------
4.2 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 transaction(s)
have been conducted
---- -------------------------------------------------------------
(a) Description Ordinary shares of 5p each
of the financial in the capital of the Company
instrument ("Shares")
---- ----------------------- ------------------------------------
(b) Nature of the Acquisition of Shares
transaction
---- ----------------------- ------------------------------------
(c) Price(s) and 980,500 Shares in consideration
volume of the transfer of 3,922,000
Shares jointly held with the
Elektron Technology 2012 Employee
Benefit Trust pursuant to the
Elektron Technology 2012 Joint
Share Ownership Plan
---- ----------------------- ------------------------------------
(d) Aggregated information Refer to section 4.5 (d)
---- ----------------------- ------------------------------------
(e) Date of the 28 July 2016
transaction
---- ----------------------- ------------------------------------
(f) Place of the Outside a trading venue
transaction
---- ----------------------- ------------------------------------
4.3 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 transaction(s)
have been conducted
---- -------------------------------------------------------------
(a) Description Ordinary shares of 5p each
of the financial in the capital of the Company
instrument ("Shares")
---- ----------------------- ------------------------------------
(b) Nature of the Grant of an option to acquire
transaction Shares
---- ----------------------- ------------------------------------
(c) Price(s) and 2,941,500 Shares
volume
---- ----------------------- ------------------------------------
(d) Aggregated information Refer to section 4.5 (d)
---- ----------------------- ------------------------------------
(e) Date of the 28 July 2016
transaction
---- ----------------------- ------------------------------------
(f) Place of the Outside a trading venue
transaction
---- ----------------------- ------------------------------------
4.4 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 transaction(s)
have been conducted
---- -------------------------------------------------------------
(a) Description A ordinary shares of GBP0.001
of the financial each in the capital of the
instrument Elektron Technology UK Limited
---- ----------------------- ------------------------------------
(b) Nature of the Acquisition of shares
transaction
---- ----------------------- ------------------------------------
(c) Price(s) and 5,000 shares, in consideration
volume of entering into an agreement
to become an employee shareholder
---- ----------------------- ------------------------------------
(d) Aggregated information Refer to section 4.5 (d)
---- ----------------------- ------------------------------------
(e) Date of the 28 July 2016
transaction
---- ----------------------- ------------------------------------
(f) Place of the Outside a trading venue
transaction
---- ----------------------- ------------------------------------
4.5 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 transaction(s)
have been conducted
---- -------------------------------------------------------------
(a) Description Ordinary shares of 5p each
of the financial in the capital of the Company
instrument ("Shares")
---- ----------------------- ------------------------------------
(b) Nature of the Exercise of an option to acquire
transaction Shares
---- ----------------------- ------------------------------------
(c) Price(s) and 1,000,000 Shares
volume Exercise Price: 5.25p
---- ----------------------- ------------------------------------
(d) Aggregated information Disposal: 3,922,000 Shares
in the Company jointly held
Acquisition: 1,980,500 shares
in the Company
Acquisition: Option over 1,941,500
shares in the Company
Acquisition: 5,000 shares in
Elektron Technology UK Limited
---- ----------------------- ------------------------------------
(e) Date of the 29 July 2016 at 8:00am
transaction
---- ----------------------- ------------------------------------
(f) Place of the Outside a trading venue
transaction
---- ----------------------- ------------------------------------
1. Details of PDMR
---- -------------------------------------------------------------
(a) Name Keith Daley
---- ----------------------- ------------------------------------
2. Reason for notification
---- -------------------------------------------------------------
(b) Position / status Chairman
---- ----------------------- ------------------------------------
(c) Initial notification Initial notification
/ amendment
---- ----------------------- ------------------------------------
3. Details of the Issuer
---- -------------------------------------------------------------
(a) Name Elektron Technology plc
---- ----------------------- ------------------------------------
(b) LEI n/a
---- ----------------------- ------------------------------------
4.1 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 transaction(s)
have been conducted
---- -------------------------------------------------------------
(a) Description Ordinary shares of 5p each
of the financial in the capital of the Company
instrument ("Shares"), jointly held with
the Elektron Technology 2012
Employee Benefit Trust pursuant
to the Elektron Technology
2012 Joint Share Ownership
Plan
---- ----------------------- ------------------------------------
(b) Nature of the Disposal of interests in Shares
transaction
---- ----------------------- ------------------------------------
(c) Price(s) and 4,722,000 jointly held Shares,
volume in consideration of the transfer
of 1,180,500 Shares
---- ----------------------- ------------------------------------
(d) Aggregated information Refer to section 4.4 (d)
---- ----------------------- ------------------------------------
(e) Date of the 28 July 2016
transaction
---- ----------------------- ------------------------------------
(f) Place of the Outside a trading venue
transaction
---- ----------------------- ------------------------------------
4.2 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 transaction(s)
have been conducted
---- -------------------------------------------------------------
(a) Description Ordinary shares of 5p each
of the financial in the capital of the Company
instrument ("Shares")
---- ----------------------- ------------------------------------
(b) Nature of the Acquisition of Shares
transaction
---- ----------------------- ------------------------------------
(c) Price(s) and 1,180,500 Shares in consideration
volume of the transfer of 4,722,000
Shares jointly held with the
Elektron Technology 2012 Employee
Benefit Trust pursuant to the
Elektron Technology 2012 Joint
Share Ownership Plan
---- ----------------------- ------------------------------------
(d) Aggregated information Refer to section 4.4 (d)
---- ----------------------- ------------------------------------
(e) Date of the 28 July 2016
transaction
---- ----------------------- ------------------------------------
(f) Place of the Outside a trading venue
transaction
---- ----------------------- ------------------------------------
4.3 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 transaction(s)
have been conducted
---- -------------------------------------------------------------
(a) Description Ordinary shares of 5p each
of the financial in the capital of the Company
instrument ("Shares")
---- ----------------------- ------------------------------------
(b) Nature of the Grant of an option to acquire
transaction Shares
---- ----------------------- ------------------------------------
(c) Price(s) and 3,541,500 Shares
volume
---- ----------------------- ------------------------------------
(d) Aggregated information Refer to section 4.4 (d)
---- ----------------------- ------------------------------------
(e) Date of the 28 July 2016
transaction
---- ----------------------- ------------------------------------
(f) Place of the Outside a trading venue
transaction
---- ----------------------- ------------------------------------
4.4 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 transaction(s)
have been conducted
---- -------------------------------------------------------------
(a) Description Ordinary shares of 5p each
of the financial in the capital of the Company
instrument ("Shares")
---- ----------------------- ------------------------------------
(b) Nature of the Exercise of an option to acquire
transaction Shares
---- ----------------------- ------------------------------------
(c) Price(s) and 1,000,000 Shares
volume Exercise Price: 5.25p
---- ----------------------- ------------------------------------
(d) Aggregated information Disposal: 4,722,000 Shares
in the Company jointly held
Acquisition: 2,180,500 shares
in the Company
Acquisition: Option over 2,541,500
shares in the Company
---- ----------------------- ------------------------------------
(e) Date of the 29 July 2016 at 8:00am
transaction
---- ----------------------- ------------------------------------
(f) Place of the Outside a trading venue
transaction
---- ----------------------- ------------------------------------
1. Details of PDMR
---- ------------------------------------------------------------
(a) Name Andy Weatherstone
---- ----------------------- -----------------------------------
2. Reason for notification
---- ------------------------------------------------------------
(b) Position / status Chief Financial Officer
---- ----------------------- -----------------------------------
(c) Initial notification Initial notification
/ amendment
---- ----------------------- -----------------------------------
3. Details of the Issuer
---- ------------------------------------------------------------
(a) Name Elektron Technology plc
---- ----------------------- -----------------------------------
(b) LEI n/a
---- ----------------------- -----------------------------------
4.1 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 transaction(s)
have been conducted
---- ------------------------------------------------------------
(a) Description A ordinary shares of GBP0.001
of the financial each in the capital of the
instrument Elektron Technology UK Limited
---- ----------------------- -----------------------------------
(b) Nature of the Acquisition of shares
transaction
---- ----------------------- -----------------------------------
(c) Price(s) and 2,500 shares, in consideration
volume of entering into an agreement
to become an employee shareholder
---- ----------------------- -----------------------------------
(d) Aggregated information Refer to section 4.2 (d)
---- ----------------------- -----------------------------------
(e) Date of the 28 July 2016
transaction
---- ----------------------- -----------------------------------
(f) Place of the Outside a trading venue
transaction
---- ----------------------- -----------------------------------
4.2 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 transaction(s)
have been conducted
---- ------------------------------------------------------------
(a) Description Ordinary shares of 5p each
of the financial in the capital of the Company
instrument ("Shares")
---- ----------------------- -----------------------------------
(b) Nature of the Grant of an option to acquire
transaction Shares
---- ----------------------- -----------------------------------
(c) Price(s) and 571,425 Shares
volume Exercise Price: 5.25p
---- ----------------------- -----------------------------------
(d) Aggregated information Acquisition: Option over 571,425
shares in the Company
Acquisition: 2,500 shares in
Elektron Technology UK Limited
---- ----------------------- -----------------------------------
(e) Date of the 29 July 2016 at 8:00am
transaction
---- ----------------------- -----------------------------------
(f) Place of the Outside a trading venue
transaction
---- ----------------------- -----------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHBFLLXQDFEBBV
(END) Dow Jones Newswires
August 01, 2016 02:01 ET (06:01 GMT)
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