Director / PDMR Shareholding

 

TIDMIDA 
 
RNS Number : 6084M 
IdaTech PLC 
27 May 2010 
 

For immediate release 
                                            27 May 2010 
 
 
                                  IdaTech PLC 
                          Director / PDMR Shareholding 
 
The Board of IdaTech announces that on 25 May 2010the Company granted Restricted 
Stock in the ordinary shares of GBP0.01 each in the Company to Harol Koyama 
(Chief Executive), to James Cooke (Chief Financial Officer) and to Senior 
Management in order to provide an appropriate mechanism to incentivise and 
retain these key board members and members of senior management, as follows: 
 
+--------------------+--------------------+--------------------+ 
| Grantee            | Role               |   Restricted Stock | 
|                    |                    |             Award* | 
+--------------------+--------------------+--------------------+ 
| Harol Koyama       | Chief Executive    |            200,000 | 
+--------------------+--------------------+--------------------+ 
| James Cooke        | Chief Financial    |            140,000 | 
|                    | Officer            |                    | 
+--------------------+--------------------+--------------------+ 
| Senior Management    (as a Group)       |            405,000 | 
+-----------------------------------------+--------------------+ 
|                    |                    |                    | 
| TOTAL              |                    |            607,257 | 
+--------------------+--------------------+--------------------+ 
 
* Ordinary shares 
Up to two thirds of the Restricted Stock will be awarded on 1 April 2012 with up 
to the full award not already awarded on 1 April 2013.  These awards are subject 
to two performance conditions 1) a doubling of the share price from GBP0.71 to 
GBP1.42 over a three year period and 2) no award will be made unless the share 
price increase is at least 50%.  Up to two thirds of the grant can be awarded on 
the second anniversary of the award.  On the third anniversary of grant up to 
the whole amount of the award, less those awarded on the second anniversary, can 
be awarded to the holders.  Proportional awards are allowable, so if the share 
price increased by 80% (target 100%) over the three years, then 80% of the grant 
would be awarded upon the third anniversary. 
 
Pursuant to the above, the overall interests of Harol Koyama, James Cooke and 
the Senior Management Team as a Group in the ordinary shares of GBP0.01 each in 
the Company are as follows: 
+-------------+-----------+----------+--------------------------+---------------------------+ 
| Grantee     | Role      | Ordinary | Restricted Stock Award*  | % of Total Fully Diluted  | 
|             |           |   Shares |                          |             Voting Rights | 
+-------------+-----------+----------+--------------------------+---------------------------+ 
| Harol       | Chief     |  418,198 |                  447,441 |                      1.9% | 
| Koyama      | Executive |          |                          |                           | 
+-------------+-----------+----------+--------------------------+---------------------------+ 
| James Cooke | Chief     |  101,095 |                  370,731 |                      0.9% | 
|             | Financial |          |                          |                           | 
|             | Officer   |          |                          |                           | 
+-------------+-----------+----------+--------------------------+---------------------------+ 
| Senior Management       |  346,029 |                1,084,781 |                      2.7% | 
| (as a Group)            |          |                          |                           | 
+-------------------------+----------+--------------------------+---------------------------+ 
|             |           |  865,322 |                1,902,953 |                           | 
| TOTAL       |           |          |                          |                      5.3% | 
+-------------+-----------+----------+--------------------------+---------------------------+ 
 
* Ordinary shares 
 
For further information please contact: 
+---------------------------------+---------------------------+ 
| IdaTech plc                     | [phone]           | 
+---------------------------------+---------------------------+ 
| Harol Koyama, Chief Executive   |                           | 
| Officer                         |                           | 
+---------------------------------+---------------------------+ 
| James Cooke, Chief Financial    |                           | 
| Officer                         |                           | 
+---------------------------------+---------------------------+ 
|                                 |                           | 
+---------------------------------+---------------------------+ 
Numis Securities Limited                                          +44 (0) 20 
7260 1000 
NOMAD: Michael Meade / Hugh Jonathan 
Corporate Broking: David Poutney / Alex Ham 
 
+----------------------------------+----------------------------+ 
|                                  |                            | 
+----------------------------------+----------------------------+ 
| Buchanan Communications          | [phone]       | 
+----------------------------------+----------------------------+ 
| Charles Ryland / Catherine Breen |                            | 
+----------------------------------+----------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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