Bytes Technology Group PLC Director/PDMR Shareholding (6873N)

TIDMBYIT

RNS Number : 6873N

Bytes Technology Group PLC

06 June 2022

Bytes Technology Group plc

('BTG' or 'the Company')

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

6 June 2022

The Company announces the following changes in the interests of Directors and Persons Discharging Managerial Responsibility ('PDMR') in ordinary shares of GBP0.01 each in the share capital of the Company ('shares').

2020 Performance Share Plan ('PSP')

Grant of PSP options

On 1 June 2022, the grant of PSP options was made under the BTG 2020 PSP to the Directors and PDMRs listed below:

 
 Name             Director/PDMR        Number PSP options 
 Neil Murphy      Director and PDMR    125,800 
                 -------------------  ------------------- 
 Andrew Holden    Director and PDMR    102,580 
                 -------------------  ------------------- 
 

The number of PSP options shown is the maximum available if the performance conditions for the three-year performance period from 1 March 2022 to 28 February 2025 are satisfied in full. The performance conditions relate to the Company's adjusted earnings per share growth and relative total shareholder return over the performance period. Further details of the performance conditions will be disclosed in the Company's annual report, expected to be distributed to shareholders on 15 June 2022 and available on the BTG website from that date.

Vesting will be on a pro-rata basis between the threshold and maximum vesting figures. In addition, the BTG Remuneration Committee retains discretion to reduce the overall PSP vesting level if it considers that the underlying business performance of the Company does not justify it.

2020 Deferred Share Bonus Plan ('DBP')

Grant of DBP options

On 1 June 2022, the grant of share options under the BTG 2020 DBP to the Directors and PDMRs listed below:

 
 Name             Director/PDMR        Number DBP options 
 Neil Murphy      Director and PDMR    25,537 
                 -------------------  ------------------- 
 Andrew Holden    Director and PDMR    10,305 
                 -------------------  ------------------- 
 

Under the DBP, one-third of the annual bonus for the financial year ended 28 February 2022 awarded to each of the Company's executive directors, is deferred into share options which vest over a two-year period. Annual bonus awards are based the achievement of pre-set performance targets. The vesting of DBP options is not subject to additional performance conditions and the underlying share options will accrue dividend equivalents over the vesting period.

The following notifications are made in accordance with DTR 3.1.2-A, incorporating article 19(1) of the Market Abuse Regulation.

 
       Details of the person discharging managerial responsibilities/person 
  1.    closely associated 
       Name                       Neil Murphy 
  a) 
      -------------------------  --------------------------------------------- 
       Reason for the notification 
  2. 
      ------------------------------------------------------------------------ 
       Position /                 Chief Executive Officer 
  a)    status 
      -------------------------  --------------------------------------------- 
       Initial notification       Initial Notification 
  b)    / amendment 
      -------------------------  --------------------------------------------- 
       Details of the issuer or emission allowance market 
  3.    participant 
      ------------------------------------------------------------------------ 
       Name                       Bytes Technology Group plc 
  a) 
      -------------------------  --------------------------------------------- 
       LEI                        213800LA4DZLFBAC9O33 
  b) 
      -------------------------  --------------------------------------------- 
       Details of the transaction(s): 
  4. 
      ------------------------------------------------------------------------ 
       Description                Ordinary shares of 1 pence 
  a)    of the financial           GB00BMH18Q19 
        instrument 
        and identification 
        code 
      -------------------------  --------------------------------------------- 
       Nature of the              Grant of share options under the Bytes 
  b)    transaction                Technology Group plc 2020 Performance Share 
                                   Plan and the 2020 Deferred Share Bonus 
                                   Plan 
      -------------------------  --------------------------------------------- 
       Price(s) and               Price: GBP0.01 
  c)    volume(s)                  Volume: 151,337 (125,800 PSP and 25,537 
                                   DBP) 
      -------------------------  --------------------------------------------- 
       Aggregated 
  d)    information 
         *    Aggregated volume     151,337 (125,800 PSP and 25,537 DBP) 
                                    GBP0.01 
 
         *    Price 
      -------------------------  --------------------------------------------- 
       Date of the                1 June 2022 
  e)    transaction 
      -------------------------  --------------------------------------------- 
       Place of the               Outside a trading venue 
  f)    transaction 
      -------------------------  --------------------------------------------- 
 
 
       Details of the person discharging managerial responsibilities/person 
  1.    closely associated 
       Name                       Andrew Holden 
  a) 
      -------------------------  --------------------------------------------- 
       Reason for the notification 
  2. 
      ------------------------------------------------------------------------ 
       Position /                 Chief Financial Officer 
  a)    status 
      -------------------------  --------------------------------------------- 
       Initial notification       Initial Notification 
  b)    / amendment 
      -------------------------  --------------------------------------------- 
       Details of the issuer or emission allowance market 
  3.    participant 
      ------------------------------------------------------------------------ 
       Name                       Bytes Technology Group plc 
  a) 
      -------------------------  --------------------------------------------- 
       LEI                        213800LA4DZLFBAC9O33 
  b) 
      -------------------------  --------------------------------------------- 
       Details of the transaction(s): 
  4. 
      ------------------------------------------------------------------------ 
       Description                Ordinary shares of 1 pence 
  a)    of the financial           GB00BMH18Q19 
        instrument 
        and identification 
        code 
      -------------------------  --------------------------------------------- 
       Nature of the              Grant of share options under the Bytes 
  b)    transaction                Technology Group plc 2020 Performance Share 
                                   Plan and the 2020 Deferred Share Bonus 
                                   Plan 
      -------------------------  --------------------------------------------- 
       Price(s) and               Price: GBP0.01 
  c)    volume(s)                  Volume: 112,885 (102,580 PSP and 10,305 
                                   DBP) 
      -------------------------  --------------------------------------------- 
       Aggregated 
  d)    information 
         *    Aggregated volume     112,885 (102,580 PSP and 10,305 DBP) 
                                    GBP0.01 
 
         *    Price 
      -------------------------  --------------------------------------------- 
       Date of the                1 June 2022 
  e)    transaction 
      -------------------------  --------------------------------------------- 
       Place of the               Outside a trading venue 
  f)    transaction 
      -------------------------  --------------------------------------------- 
 

Enquiries:

 
   WK Groenewald                Tel: [phone] 
   Group Company Secretary 
   Bytes Technology Group plc 
 

The Company has a primary listing on the Main Market of the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.

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June 06, 2022 03:00 ET (07:00 GMT)