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Share Name Share Symbol Market Type Share ISIN Share Description
Crimson Tide Plc LSE:TIDE London Ordinary Share GB0002080082 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.05 1.49% 3.40 3.30 3.50 3.40 3.35 3.35 973,688 15:02:04
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Technology Hardware & Equipment 2.9 0.4 0.1 42.5 15

Crimson Tide PLC Grant of Options under the Company's EMI Scheme

22/12/2020 10:45am

UK Regulatory (RNS & others)


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RNS Number : 5309J

Crimson Tide PLC

22 December 2020

Crimson Tide plc

("Crimson Tide" or "Company")

Grant of Options under the Company's EMI Scheme

Crimson Tide plc, the provider of the mpro5 mobility platform, announces a grant of options over ordinary shares in the Company ("Options") under the Company's Enterprise Management Incentive Scheme ("EMI Scheme"):

 
 Director                                     Options granted under 
                                                     the EMI Scheme 
 Luke Jeffrey (CEO)                                       7,500,000 
                                             ---------------------- 
 Peter Hurter (Finance Director & Company 
  Secretary)                                              4,600,000 
                                             ---------------------- 
 Toby Hawkins (Sales & Marketing Director)                4,600,000 
                                             ---------------------- 
 

A further 8,000,000 Options in aggregate have been granted to other employees bringing the total number of options now outstanding to 24,700,000 representing 5.4 percent of the Company's current issued share capital.

Today's award follows the expiry in May this year of the last tranche of options previously issued by the Company, made in May 2010. At that time, options over 35.5m shares were in issue. In making these awards and setting the performance criteria, the remuneration committee has considered the historic performance of the directors and employees during the period when no awards were made as well as having regard to the need to provide forward looking performance criteria, aligned closely to the achievement of future growth targets in line with the Board's long-term strategy.

Accordingly, the above grants may be exercised in whole or in part in accordance with the Company's EMI Share Option Plan provided the established performance criteria have been met. All options are exercisable between 3 and 10 years following the date of grant. The options become exercisable on the share price exceeding 4.5 pence per share for any five consecutive business days.

The following notification, made in accordance with the requirements of the EU Market Abuse Regulation, gives further details on the grant of Options to PDMRs.

 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                                               i) Luke Jeffrey 
                                                                          ii) Peter Hurter 
                                                                          iii) Toby Hawkins 
     ------------------------------------------------------------  ----------------------------------------------- 
      Reason for the notification 
     ------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                                    i) Chief Executive Officer 
                                                                          ii) Finance director & Company Secretary 
                                                                          iii) Sales and Marketing director 
     ------------------------------------------------------------  ----------------------------------------------- 
 b)   Initial notification/ Amendment                               Initial Notification 
     ------------------------------------------------------------  ----------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                          Crimson Tide plc 
     ------------------------------------------------------------  ----------------------------------------------- 
 b)   LEI                                                           213800YUNLNBVYR3G129 
     ------------------------------------------------------------  ----------------------------------------------- 
 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 instrument, type of instrument   Options over ordinary shares of 0.1p each 
 
       Identification code 
 
                                                                     n/a 
     ------------------------------------------------------------  ----------------------------------------------- 
 b)   Nature of the transaction                                     Grant of options under EMI scheme 
     ------------------------------------------------------------  ----------------------------------------------- 
 c)   Price(s) and volume(s)                                         Price(s)         Volume(s) 
                                                                           i) n/a      i) 7,500,000 
                                                                            ii) n/a     ii) 4,600,000 
                                                                            iii) n/a    iii) 4,600,000 
                                                                                      ---------------- 
     ------------------------------------------------------------  ----------------------------------------------- 
 d)    Aggregated information 
         *    Aggregated volume                                       16,700,000 
                                                                      Nil 
 
         *    Price 
     ------------------------------------------------------------  ----------------------------------------------- 
 e)   Date of the transaction                                       22(nd) December 2020 
     ------------------------------------------------------------  ----------------------------------------------- 
 f)   Place of the transaction                                      Tunbridge Wells 
     ------------------------------------------------------------  ----------------------------------------------- 
 

For further information:

Crimson Tide plc

Barrie Whipp / Luke Jeffrey

01892 542 444

finnCap Ltd (Nominated Adviser and Broker)

Julian Blunt / James Thompson - Corporate Finance

Andrew Burdis - Corporate Broking

020 7220 0500

Alma PR

Josh Royston / Harriet Jackson

020 3405 0213

For further information on Crimson Tide plc, see the website at: www.crimsontide.co.uk/

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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December 22, 2020 05:45 ET (10:45 GMT)

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