Mercia Technologies PLC Grant Options & PDMR Dealings (9442L)

TIDMMERC

RNS Number : 9442L

Mercia Technologies PLC

25 July 2017

 
 For immediate release              25 July 2017 
 

Mercia Technologies PLC

("Mercia" or the "Company")

Grant of Options and dealings by Persons Discharging Managerial Responsibilities ("PDMRs")

Mercia Technologies PLC (AIM: MERC), the national investment group focused on the creation/identification, funding and scaling of innovative technology businesses with high growth potential from the UK regions, announces that options (the "Options") over a total of 2,155,000 new Ordinary shares with a nominal value of 0.001p pence each in the capital of the Company ("Ordinary Shares") were awarded yesterday pursuant to the 2014 Mercia Company Share Option Plan at an exercise price of 36.00p per Ordinary Share (being the closing mid-market price of an Ordinary Share on 24 July 2017). The Options will, subject to the satisfaction of the performance condition, vest in three equal tranches on the third, fourth and fifth anniversary of the date of grant of the Options.

The Options represent, in aggregate, 0.72% of the existing Ordinary share capital of the Company and have been issued to a number of employees of the Company, including all four Executive Directors and two further PDMRs.

Following the grant of these Options, the PDMRs hold the following Ordinary Shares and options:

 
 PDMR                  New Options   Total number   Interest 
                                      of options     in existing 
                                                     issued Ordinary 
                                                     Shares 
--------------------  ------------  -------------  ----------------- 
 Dr. Mark Payton*      400,000       1,800,000      6,655,472 
--------------------  ------------  -------------  ----------------- 
 Martin Glanfield*     400,000       1,800,000      293,369 
--------------------  ------------  -------------  ----------------- 
 Matt Mead*            400,000       1,800,000      75,730 
--------------------  ------------  -------------  ----------------- 
 Jonathan Diggines*    400,000       800,000        857,919** 
--------------------  ------------  -------------  ----------------- 
 Julian Viggars        100,000       400,000        193,321*** 
--------------------  ------------  -------------  ----------------- 
 John Simpson          50,000        250,000        273,680 
--------------------  ------------  -------------  ----------------- 
 

* Executive Directors

**Including 401,786 Ordinary Shares held by Mrs Susan Diggines

***Including 75,000 Ordinary Shares held by Mrs Emma Viggars

Following these grants, the Company has a total of 11,394,000 unvested options pursuant to the 2014 Mercia Company Share Option Plan, equating to approximately 3.79% of the existing issued Ordinary share capital of the Company.

For further information, please contact:

 
Mercia Technologies PLC 
 Mark Payton, Chief Executive Officer 
 Martin Glanfield, Chief Financial Officer 
 www.merciatech.co.uk                              [phone] 
Cenkos Securities plc 
 Ivonne Cantu / Mark Connelly (NOMAD)              [phone] 
 
Buchanan 
 Bobby Morse / Victoria Hayns / Stephanie Watson 
 www.buchanan.uk.com                               [phone] 
 

About Mercia Technologies PLC

Mercia is a national investment group focused on the creation/identification, funding and scaling of innovative businesses with high growth potential from the UK regions. Mercia benefits from 18 university partnerships and offices across the Midlands, the North of England and Scotland providing it with access to high quality, regional deal flow. Mercia Technologies PLC is quoted on AIM with the epic "MERC".

Mercia's 'Complete Capital Solution' initially nurtures businesses via its third party funds (now with more than GBP336.5million under management following the latest mandate wins) and then over time Mercia can provide further funding to its 'Emerging Stars' by deploying direct investment follow-on capital from its own balance sheet. Since its IPO in December 2014, Mercia has invested over GBP41.0million directly across its portfolio of 'Emerging Stars'.

This information is provided by RNS

The company news service from the London Stock Exchange

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July 25, 2017 02:01 ET (06:01 GMT)