Redcentric PLC Issue of Options (4987R)

TIDMRCN

RNS Number : 4987R

Redcentric PLC

21 September 2017

21 September 2017

Redcentric plc ("Redcentric" or the "Company")

Issue of Options

Redcentric plc (AIM: RCN) announces that on 29 June 2017 it granted a total of 1,092,330 options to executive directors and members of the senior management team to acquire new ordinary shares of 0.1 pence each in the Company under the Company's 2017 Long Term Incentive Plan ("LTIP Options"). The LTIP Options are nil-cost options and will vest after 3 years subject to continued employment and the meeting of certain performance conditions being compound annual growth in diluted earnings per share from the financial period ending 31 March 2017 to 31 March 2020.*

The following LTIP Options were granted to Directors:

Fraser Fisher, Chief Executive Officer: 421,052 LTIP Options**

Peter Brotherton, Chief Financial Officer: 192,481 LTIP Options

As a result Fraser Fisher currently holds 1,295,985 share options in the Company and Peter Brotherton a total of 382,957 share options in the Company. In addition, Fraser Fisher has a total beneficial holding of 106,807 ordinary shares in the Company and Peter Brotherton has a total beneficial holding of 20,000 ordinary shares in the Company.

* 40% of awards vest at 4% compound EPS growth and 100% vest at 10% compound EPS growth (vesting will be on a straight line basis between these levels).

** The 421,052 LTIP Options were granted prior to the announcement by the Company on 10 August 2017 that Fraser Fisher had given notice of his resignation as CEO. The 421,052 LTIP Options will lapse upon Fraser Fisher leaving the business.

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provides further detail.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
 1     Details of the person discharging managerial 
        responsibilities/person closely associated 
----  -------------------------------------------------------------------- 
 a)    Name                       Fraser Fisher 
----  -------------------------  ----------------------------------------- 
 2     Reason for the notification 
----  -------------------------------------------------------------------- 
 a)    Position/status            Chief Executive Officer 
----  -------------------------  ----------------------------------------- 
 b)    Initial                    Initial Notification 
        notification 
        /Amendment 
----  -------------------------  ----------------------------------------- 
 3     Details of the issuer, emission allowance 
        market participant, auction platform, auctioneer 
        or auction monitor 
----  -------------------------------------------------------------------- 
 a)    Name                       Redcentric plc 
----  -------------------------  ----------------------------------------- 
 b)    Legal Entity               213800FGYMMNE9OKFD14 
        Identifier 
----  -------------------------  ----------------------------------------- 
 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                Options to acquire new ordinary shares 
        of the                     of 0.1p each 
        financial                  GB00B7TW1V39 
        instrument, 
        type of 
        instrument 
        Identification 
        code 
----  -------------------------  ----------------------------------------- 
 b)    Nature                     Grant of options 
        of the 
        transaction 
----  -------------------------  ----------------------------------------- 
 c)    Currency                   GBP 
----  -------------------------  ----------------------------------------- 
 d)    Price(s)                        Price(s)             Volume(s) 
        and volume(s) 
----  -------------------------  --------------------  ------------------- 
                                       0.83125p              421,052 
 ------------------------------  --------------------  ------------------- 
 
 e)    Aggregated                 N/A - single transaction 
        information 
        - Aggregated 
        volume 
        - Price 
        - Aggregated 
        total 
----  -------------------------  ----------------------------------------- 
 f)    Date of                    29 June 2017 
        the transaction 
----  -------------------------  ----------------------------------------- 
 g)    Place of                   Outside of a trading venue 
        the transaction 
----  -------------------------  ----------------------------------------- 
 
 
 1     Details of the person discharging managerial 
        responsibilities/person closely associated 
----  -------------------------------------------------------------------- 
 a)    Name                       Peter Brotherton 
----  -------------------------  ----------------------------------------- 
 2     Reason for the notification 
----  -------------------------------------------------------------------- 
 a)    Position/status            Chief Financial Officer 
----  -------------------------  ----------------------------------------- 
 b)    Initial                    Initial Notification 
        notification 
        /Amendment 
----  -------------------------  ----------------------------------------- 
 3     Details of the issuer, emission allowance 
        market participant, auction platform, auctioneer 
        or auction monitor 
----  -------------------------------------------------------------------- 
 a)    Name                       Redcentric plc 
----  -------------------------  ----------------------------------------- 
 b)    Legal Entity               213800FGYMMNE9OKFD14 
        Identifier 
----  -------------------------  ----------------------------------------- 
 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                Options to acquire new ordinary shares 
        of the                     of 0.1p each 
        financial                  GB00B7TW1V39 
        instrument, 
        type of 
        instrument 
        Identification 
        code 
----  -------------------------  ----------------------------------------- 
 b)    Nature                     Grant of options 
        of the 
        transaction 
----  -------------------------  ----------------------------------------- 
 c)    Currency                   GBP 
----  -------------------------  ----------------------------------------- 
 d)    Price(s)                        Price(s)             Volume(s) 
        and volume(s) 
----  -------------------------  --------------------  ------------------- 
                                       0.83125p              192,481 
 ------------------------------  --------------------  ------------------- 
 
 e)    Aggregated                 N/A - single transaction 
        information 
        - Aggregated 
        volume 
        - Price 
        - Aggregated 
        total 
----  -------------------------  ----------------------------------------- 
 f)    Date of                    29 June 2017 
        the transaction 
----  -------------------------  ----------------------------------------- 
 g)    Place of                   Outside of a trading venue 
        the transaction 
----  -------------------------  ----------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 21, 2017 13:06 ET (17:06 GMT)