Eleco PLC Issue of Options (5231U)

TIDMELCO

RNS Number : 5231U

Eleco PLC

02 August 2022

2 August 2022

Eleco Plc

("Eleco", "Group" or the "Company")

Issue of Options

The Board of Eleco plc (AIM: ELCO), the AIM-listed construction software specialist, advises that on 1 August 2022 the Company issued a total of 750,000 options to subscribe for new ordinary shares of 1p each (the "Ordinary Shares") in the Company under the Eleco 2014 Share Option Plan (the "Options").

250,000 options were granted to Jonathan Hunter, CEO of the Company. Of these, 150,000 are market priced options, which have no vesting criteria other than to remain in employment by the Group and shall vest after a 3-year vesting period. 100,000 are nominal cost options which shall vest after 3 years if certain performance criteria related to recurring revenue growth, overall revenue growth and share price growth are met. To fully vest, Eleco will need to achieve significant revenue growth from current levels and will need to outperform against current market forecasts.

The remaining 500,000 Options were granted to various employees of the Company, which are market priced options with no vesting criteria other than to remain in employment by the Group and shall vest after a 3-year vesting period.

All market priced options are exercisable at 70 pence. All Options will expire on 31 July 2032. Details of PDMR awards are included in the disclosure notices at the end of this announcement.

 
 Director/PDMR      Options issued   Total options held 
                                      post issue 
 Jonathan Hunter    250,000          850,000 
                   ---------------  ------------------- 
 Birgit Lenton      100,000          100,000 
                   ---------------  ------------------- 
 Luben Kirov        100,000          100,000 
                   ---------------  ------------------- 
 

Following the issue of the Options, the total number of options in issue post award is 2,750,000, representing approximately 3.3% of the Company's issued share capital.

Enquiries:

 
 Eleco plc                                    [phone] 
 Jonathan Hunter, Chief Executive 
  Officer 
 Rose Clark, Interim CFO 
 
 finnCap Limited                              [phone] 
 Geoff Nash / Kate Bannatyne / 
  James Balicki (Corporate Finance) 
 Richard Chambers / Charlotte Sutcliffe 
  (ECM) 
 
 SEC Newgate UK                               [phone] 
 Elisabeth Cowell / Bob Huxford            [e-mail] 
  / Isabelle Smurfit 
 

About Eleco plc

Eleco plc is an AIM-listed (AIM: ELCO) specialist international provider of software and related services to the Architectural, Engineering, Construction and Owner/Operator (AECO) industries and interior furnishing industries from centres of excellence in the UK, Sweden, Germany and the Netherlands.

The Company's market-leading Elecosoft software solutions are developed by teams in the United Kingdom, Sweden and Germany, and its solutions cover project management, estimating, timber engineering, CAD and visualisation, asset and facility management and cloud-based digital marketing solutions.

For further information please visit www.eleco.com .

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
 1.    Details of PDMR / person closely associated with them 
        ('PCA') 
 a)    Name                               Jonathan Hunter 
      ---------------------------------  ----------------------------------- 
 2.    Reason for the Notification 
      ---------------------------------------------------------------------- 
 a)    Position / status                  Chief Executive Officer 
      ---------------------------------  ----------------------------------- 
 b)    Initial notification               Initial notification 
        /amendment 
      ---------------------------------  ----------------------------------- 
 3.    Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ---------------------------------------------------------------------- 
 a)    Name                               Eleco plc 
      ---------------------------------  ----------------------------------- 
 b)    LEI                                21380016GT9Z6ZQX4T37 
      ---------------------------------  ----------------------------------- 
 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                     Ordinary shares of 1p each 
        the financial instrument, 
        type of instrument 
      ---------------------------------  ----------------------------------- 
       Identification                     GB0003081246 
        code 
      ---------------------------------  ----------------------------------- 
 b)    Nature of the transaction          Grant of options 
      ---------------------------------  ----------------------------------- 
 c)    Price(s) and volume(s)             Name        Price(s)    Volume(s) 
                                          Jonathan 
                                           Hunter     1p          100,000 
                                                       70p         150,000 
 d)    Aggregated information: 
        Aggregated volume                   250,000 
        Price                               GBP106,000 
      ---------------------------------  ----------------------------------- 
 e)    Date of the transaction            1 August 2022 
      ---------------------------------  ----------------------------------- 
 f)    Place of the transaction           Outside of a trading venue 
      ---------------------------------  ----------------------------------- 
 
 
 1.    Details of PDMR / person closely associated with them 
        ('PCA') 
 a)    Name                            Birgit Lenton 
      ------------------------------  ------------------------------------------ 
 2.    Reason for the Notification 
      -------------------------------------------------------------------------- 
 a)    Position / status               Group Transformation Director / PDMR 
      ------------------------------  ------------------------------------------ 
 b)    Initial notification            Initial notification 
        /amendment 
      ------------------------------  ------------------------------------------ 
 3.    Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------- 
 a)    Name                            Eleco plc 
      ------------------------------  ------------------------------------------ 
 b)    LEI                             21380016GT9Z6ZQX4T37 
      ------------------------------  ------------------------------------------ 
 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                  Ordinary shares of 1p each 
        the financial instrument, 
        type of instrument 
      ------------------------------  ------------------------------------------ 
       Identification                  GB0003081246 
        code 
      ------------------------------  ------------------------------------------ 
 b)    Nature of the transaction       Grant of options 
      ------------------------------  ------------------------------------------ 
 c)    Price(s) and volume(s)          Name               Price(s)    Volume(s) 
   Birgit Lenton                                          70p         100,000 
 d)    Aggregated information: 
        Aggregated volume                100,000 
        Price                            GBP70,000 
      ------------------------------  ------------------------------------------ 
 e)    Date of the transaction         1 August 2022 
      ------------------------------  ------------------------------------------ 
 f)    Place of the transaction        Outside of a trading venue 
      ------------------------------  ------------------------------------------ 
 
 
 1.    Details of PDMR / person closely associated with them 
        ('PCA') 
 a)    Name                             Luben Kirov 
      -------------------------------  ------------------------------------- 
 2.    Reason for the Notification 
      ---------------------------------------------------------------------- 
 a)    Position / status                Chief Technology Officer / PDMR 
      -------------------------------  ------------------------------------- 
 b)    Initial notification             Initial notification 
        /amendment 
      -------------------------------  ------------------------------------- 
 3.    Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ---------------------------------------------------------------------- 
 a)    Name                             Eleco plc 
      -------------------------------  ------------------------------------- 
 b)    LEI                              21380016GT9Z6ZQX4T37 
      -------------------------------  ------------------------------------- 
 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                   Ordinary shares of 1p each 

        the financial instrument, 
        type of instrument 
      -------------------------------  ------------------------------------- 
       Identification                   GB0003081246 
        code 
      -------------------------------  ------------------------------------- 
 b)    Nature of the transaction        Grant of options 
      -------------------------------  ------------------------------------- 
 c)    Price(s) and volume(s)           Name            Price(s)   Volume(s) 
   Luben Kirov                                          70p        100,000 
 d)    Aggregated information: 
        Aggregated volume                 100,000 
        Price                             GBP70,000 
      -------------------------------  ------------------------------------- 
 e)    Date of the transaction          1 August 2022 
      -------------------------------  ------------------------------------- 
 f)    Place of the transaction         Outside of a trading venue 
      -------------------------------  ------------------------------------- 
 

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August 02, 2022 02:00 ET (06:00 GMT)