Synectics PLC Director/PDMR Shareholding (3665Y)

TIDMSNX

RNS Number : 3665Y

Synectics PLC

02 March 2017

 
         2 March 2017 
 

Synectics plc

(the "Company" or the "Group")

Award of Options under Share Plan

Director / PDMR shareholdings

Synectics (AIM: SNX), a leader in the design, integration, control and management of advanced surveillance technology and networked security systems, announces that on 1 March 2017 it made awards over 88,500 Synectics plc ordinary shares of 20p (the "Shares") to certain senior managers employed within the Group, under its Performance Share Plan ("PSP").

Under the PSP award, awards were made to the following Directors and Persons Discharging Managerial Responsibility (PDMRs):

 
 Name             Position                        Status       PSP award 
                                                                (number of 
                                                                Shares) 
---------------  ------------------------------  -----------  ------------ 
                  Chief Executive,                Executive 
 Paul Webb         Synectics plc                   Director    15,000 
---------------  ------------------------------  -----------  ------------ 
                  Finance Director,               Executive 
 Mike Stilwell     Synectics plc                   Director    7,500 
---------------  ------------------------------  -----------  ------------ 
                  Product & Technology 
                   Director, Synectic 
 David Aindow      Systems Group Limited          PDMR         5,000 
---------------  ------------------------------  -----------  ------------ 
                  Divisional Director, 
                   Transport & Infrastructure, 
                   Synectic Systems 
 Greg Alcorn       Group Limited                  PDMR         10,000 
---------------  ------------------------------  -----------  ------------ 
                  Divisional Director, 
 Darren            Oil & Gas, Synectic 
  Alder            Systems Group Limited          PDMR         5,000 
---------------  ------------------------------  -----------  ------------ 
                  Managing Director, 
                   Quadrant Security 
 Iain Beadle       Group Limited                  PDMR         5,000 
---------------  ------------------------------  -----------  ------------ 
 Richard          Company Secretary, 
  Brierley         Synectics plc                  PDMR         2,000 
---------------  ------------------------------  -----------  ------------ 
                  Managing Director, 
 Jeffrey           Synectics Mobile 
  Fail             Systems                        PDMR         4,000 
---------------  ------------------------------  -----------  ------------ 
                  Operations Director, 
 Andrew            Synectic Systems 
  Wycherley        Group Limited                  PDMR         2,000 
---------------  ------------------------------  -----------  ------------ 
 

Following the awards, their total interests in Shares are now as follows:

 
 Name                 Shares         Interest         Resultant      % of issued 
                        held        in Shares    total interest    share capital 
                                 in Synectics 
                                share schemes 
------------------  --------  ---------------  ----------------  --------------- 
 Paul Webb            10,000          299,924           309,924            1.74% 
------------------  --------  ---------------  ----------------  --------------- 
 Mike Stilwell         6,910           50,224            57,134            0.32% 
------------------  --------  ---------------  ----------------  --------------- 
 David Aindow              -           53,000            53,000            0.30% 
------------------  --------  ---------------  ----------------  --------------- 
 Greg Alcorn               -           10,000            10,000            0.06% 
------------------  --------  ---------------  ----------------  --------------- 
 Darren Alder              -           22,500            22,500            0.13% 
------------------  --------  ---------------  ----------------  --------------- 
 Iain Beadle               -           52,500            52,500            0.30% 
------------------  --------  ---------------  ----------------  --------------- 
 Richard Brierley          -            6,000             6,000            0.03% 
------------------  --------  ---------------  ----------------  --------------- 
 Jeffrey Fail              -           44,000            44,000            0.25% 
------------------  --------  ---------------  ----------------  --------------- 
 Andrew Wycherley          -            7,000             7,000            0.04% 
------------------  --------  ---------------  ----------------  --------------- 
 

Under the PSP, selected employees are entitled to exercise an option to receive a certain number of Shares at any time after a 3 year vesting period, at no cost to themselves. The number of Shares that are awarded at the end of the 3 year period is dependent on the achievement of certain performance criteria.

Vesting of the PSP awards is dependent on the total return on Shares compared with the AIM All Share Total Return Index (the "Index"). If the total return on Shares out-performs the Index by 5% or more in the 3 years following the award, all of the Shares awarded will vest. If Shares match the Index performance, then 25% of the awarded Shares will vest. Between these points the number of Shares that vest will be pro-rata. If the total return on Shares underperforms the Index, then no Shares will vest. The limit on the number of Shares over which interests may be awarded remains unchanged.

Any entitlement under the PSP will lapse on cessation of employment prior to the end of the 3 year vesting period, unless cessation of employment is by reason of redundancy, ill health or death.

Should the performance criteria be met in full or part, it is intended that the appropriate number of Shares will be satisfied from unallocated Shares already held within the Company's employee benefit trust.

Full details of the PSP were set out in the Company's Annual Report for the year ended 30 November 2015.

For further information, please contact:

 
       Synectics plc                     Tel: [phone] 
       Richard Brierley, Company              www.synecticsplc.com 
        Secretary 
 
       Stockdale Securities              Tel: [phone] 
       Tom Griffiths / Henry 
        Willcocks 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 02, 2017 06:32 ET (11:32 GMT)