Aptitude Software Group PLC Award of Options (3727R)

TIDMAPTD

RNS Number : 3727R

Aptitude Software Group PLC

29 October 2019

29 October 2019

Aptitude Software Group plc (the "Company")

Grant of awards under the Company's Performance Share Plan 2016 ("PSP")

On 28 October 2019 Aptitude Software Group plc granted awards in the form of options over ordinary shares in the Company ("Ordinary Shares") under the PSP to the following Directors and PDMRs. Each option has an exercise price per Ordinary Share equal to the nominal value of an Ordinary Share.

 
  Director/ PDMR                Role                Number of Ordinary 
                                                     Shares over which 
                                                       award granted 
                    Executive Director/PDMR 
                     (Chief Executive Officer 
 JEREMY SUDDARDS     Designate)                                 85,179 
                   ------------------------------  ------------------- 
                    Executive Director/PDMR 
                     (Deputy Chief Executive 
                     Officer and Chief Financial 
 PHILIP WOOD         Officer)                                   62,606 
                   ------------------------------  ------------------- 
 CHRIS WADE         PDMR (Chief Product Officer)                23,918 
                   ------------------------------  ------------------- 
 CLARE GROOM        PDMR (Chief People Officer)                 14,211 
                   ------------------------------  ------------------- 
                    PDMR (Vice President, North 
 ALEX CURRAN         America)                                   19,909 
                   ------------------------------  ------------------- 
 

Each award has been granted subject to performance conditions based on targets relating to growth in Earnings Per Share over a performance period of three financial years starting with 2019 (as regards 50% of each award) and the Company's Total Shareholder Return ("TSR") over the same performance period relative to the TSRs of the constituents of the FTSE SmallCap Index (excluding investment trusts) (as regards 50% of each award), as set out below.

EPS element

 
 Annual compound growth in   Percentage of the EPS element 
  EPS                         that vests 
 19%                         25% 
                            ------------------------------ 
 Greater than 19% but less   Determined on a straight-line 
  than 23%                    basis between 25% and 100% 
                            ------------------------------ 
 23% or greater than 23%     100% 
                            ------------------------------ 
 

TSR element

 
 Rank of the Company's TSR        Percentage of the TSR element 
  against the Comparator Group     that vests 
 Median                           25% 
                                 ------------------------------ 
 Between upper quartile and       Determined on a straight-line 
  median                           basis between 25% and 100% 
                                 ------------------------------ 
 Upper quartile or above          100% 
                                 ------------------------------ 
 

Each award is subject to a further performance condition that the extent of vesting reflects the overall financial performance of the Company over the performance period.

The awards granted to Jeremy Suddards and Philip Wood will, ordinarily, vest on the second anniversary of the date on which the Company's Remuneration Committee determines the extent to which the performance conditions have been satisfied. The other awards will, ordinarily, vest on the date on which the Company's Remuneration Committee determines the extent to which the performance conditions have been satisfied.

Notification and public disclosure of transactions by PDMRs and persons closely associated with them

 
 1.   Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name 
                                               1. Jeremy Suddards 
                                               2. Philip Wood 
                                               3. Chris Wade 
                                               4. Clare Groom 
                                               5. Alex Curran 
     --------------------------------  ----------------------------------------- 
 2.   Reason for the notification 
     --------------------------------------------------------------------------- 
 a)   Position/status                        1. Executive Director/PDMR (Chief 
                                              Executive Officer Designate) 
                                              2. Executive Director/PDMR (Deputy 
                                              Chief Executive Officer and 
                                              Chief Financial Officer) 
                                              3. PDMR (Chief Product Officer) 
                                              4. PDMR (Chief People Officer) 
                                              5. PDMR (Vice President, North 
                                              America) 
     --------------------------------  ----------------------------------------- 
 b)   Initial notification/Amendment    Initial notification 
     --------------------------------  ----------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     --------------------------------------------------------------------------- 
 a)   Name                              Aptitude Software Group plc 
     --------------------------------  ----------------------------------------- 
 b)   LEI                               2138009VHA1WI2VKMA28 
     --------------------------------  ----------------------------------------- 
 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 of the financial      Options over Ordinary Shares 
       instrument, type of instrument    of 7 1/3 pence each 
     --------------------------------  ----------------------------------------- 
 b)   Identification code               ISIN: GB00BJV2F804 
     --------------------------------  ----------------------------------------- 
 c)   Nature of the transaction         Grant of options under Performance 
                                         Share Plan 2016 
     --------------------------------  ----------------------------------------- 
 d)   Price(s) and volume(s)             Price         Number of Ordinary 
                                                         Shares over which 
                                                         Options have 
                                                         been granted 
                                              1. n/a        1. 85,179 
                                               2. n/a        2. 62,606 
                                               3. n/a        3. 23,918 
                                               4. n/a        4. 14,211 
                                               5. n/a        5. 19,909 
                                                       ------------------- 
     --------------------------------  ----------------------------------------- 
 e)        Aggregated information       n/a 
             *    Aggregate volume 
 
 
             *    Price 
     --------------------------------  ----------------------------------------- 
 f)   Date of the transaction           28 October 2019 
     --------------------------------  ----------------------------------------- 
 g)   Place of the transaction          Outside a trading venue 
     --------------------------------  ----------------------------------------- 
 Name of authorised official of         Georgina Sharley, Company Secretary, 
  issuer responsible for making          Aptitude Software Group plc 
  notification: 
                                       ----------------------------------------- 
 
   Name of contact:                      GEORGINA SHARLEY, COMPANY SECRETARY 

Address of contact: APTITUDE SOFTWARE GROUP PLC, OLD CHANGE HOUSE, 128 QUEEN VICTORIA STREET, LONDON, EC4V 4BJ

   Telephone number of contact:    020-3880-7100 

www.aptitudesoftware.com

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October 29, 2019 03:00 ET (07:00 GMT)