Ideagen PLC Extension to 2018 LTIP Awards (8631N)

TIDMIDEA

RNS Number : 8631N

Ideagen PLC

03 February 2021

Ideagen PLC

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

Extension to 2018 Long Term Incentive Plan Awards

Ideagen PLC (AIM: IDEA), a leading supplier of Information Management software to highly regulated industries, announces the award of 250,000 share options over the Company's ordinary shares of 1 penny each ("Ordinary Shares") to two of the Group's senior executives under an extension to the Company's 2018 Long Term Incentive Plan (the "2018 LTIP").

The awards reward and reflect their contributions since joining the Group in May 2019. The awards could not for practical reasons have been made sooner.

The principles underpinning the awards are the same as those of the 2018 LTIP award made to Ben Dorks, Chief Executive Officer (announced on 23 October 2018) and to other directors and executives of the Company (announced on 29 March 2019) insofar that they will become eligible to vest on the Company's share price reaching 259 pence over 30 consecutive business days but not before the third anniversary of the grant date. Thereafter, any Ordinary Shares issued in respect of the exercise of any of these options cannot be sold until the fourth anniversary of the grant date except to meet the taxation costs arising on the exercise of those options. They are also subject to continued service throughout as well as the aforementioned share price targets. These options each have an exercise price of 1 penny per Ordinary Share.

Following the award of these options and the surrender of 250,000 options by a departing employee, there are now 3,429,500 options over Ordinary Shares in issue, representing 1.36% of the issued share capital of the Company.

Enquiries:

 
Ideagen plc                           01629 699 100 
Ben Dorks, Chief Executive Officer 
Emma Hayes, Chief Financial Officer 
 
finnCap Limited                       020 7220 0500 
Henrik Persson/James Thompson 
 (Nomad) 
Alice Lane (ECM) 
Canaccord Genuity                     020 7523 8000 
Simon Bridges 
Richard Andrews 
 

About Ideagen plc

Ideagen is a UK-headquartered, global technology company quoted on the London Stock Exchange AIM market (Ticker: IDEA.L).

A global supplier of regulatory and compliance solutions, Ideagen provides a common software platform and an integrated risk-based approach to meet multi-industry standards, enabling compliance with relevant laws, policies, and regulations.

The Group provides software and services to organisations operating within highly regulated industries such as life sciences, healthcare, banking and finance, insurance, aviation, and aerospace and defence, with its main operational premises spread throughout the UK, EU, US, Middle East and SE Asia.

Currently, more than 5,700 organisations use Ideagen's products including eight of the top 10 UK accounting firms, all of the top aerospace and defence companies and 75% of the world's leading pharmaceutical firms.

Ideagen's diverse and varied customer base includes many well-known, global brands such as British Airways, Aggreko, BAE, Ryanair, US Navy, KLM, BBVA, Bank of New York, Commerzbank, Meggitt, Heineken, Johnson Matthey, Haeco Group and European Central Bank. As well as this, Ideagen counts 250 hospitals across the UK and US amongst its client base. For further information please visit www.ideagen.com .

 
 1.   Details of the person discharging managerial responsibilities / person closely associated 
 a)   Name                                              Arun Varma 
     ------------------------------------------------  --------------------------------------------- 
 2.   Reason for the Notification 
     ----------------------------------------------------------------------------------------------- 
 a)   Position/status                                   Chief Marketing Officer and 
                                                         PDMR 
     ------------------------------------------------  --------------------------------------------- 
 b)   Initial notification/Amendment                    Initial notification 
     ------------------------------------------------  --------------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ----------------------------------------------------------------------------------------------- 
 a)   Name                                              Ideagen plc 
     ------------------------------------------------  --------------------------------------------- 
 b)   LEI                                               213800KS1MLITOVNYC85 
     ------------------------------------------------  --------------------------------------------- 
 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                      Issue of options over Ordinary 
       instrument, type of instrument                    Shares of 1p each 
     ------------------------------------------------  --------------------------------------------- 
      Identification code                               GB00B0CM0C50 
     ------------------------------------------------  --------------------------------------------- 
 b)   Nature of the transaction                         Grant of options 
     ------------------------------------------------  --------------------------------------------- 
 c)   Price(s) and volume(s)                             Price(s)    Volume(s) 
                                                          1 penny     250,000 
                                                                     ---------- 
     ------------------------------------------------  --------------------------------------------- 
 d)   Aggregated information:                           N/A 
       -- Aggregated volume 
       -- Price 
     ------------------------------------------------  --------------------------------------------- 
 e)   Date of the transaction                           02 February 2021 
     ------------------------------------------------  --------------------------------------------- 
 f)   Place of the transaction                          Off market transaction 
     ------------------------------------------------  --------------------------------------------- 
 
 
 1.   Details of the person discharging managerial responsibilities / person closely associated 
 a)   Name                                              Geoff Neil 
     ------------------------------------------------  --------------------------------------------- 
 2.   Reason for the Notification 
     ----------------------------------------------------------------------------------------------- 
 a)   Position/status                                   Chief Development Officer and 
                                                         PDMR 
     ------------------------------------------------  --------------------------------------------- 
 b)   Initial notification/Amendment                    Initial notification 
     ------------------------------------------------  --------------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ----------------------------------------------------------------------------------------------- 
 a)   Name                                              Ideagen plc 
     ------------------------------------------------  --------------------------------------------- 
 b)   LEI                                               213800KS1MLITOVNYC85 
     ------------------------------------------------  --------------------------------------------- 
 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                      Issue of options over Ordinary 
       instrument, type of instrument                    Shares of 1p each 
     ------------------------------------------------  --------------------------------------------- 
      Identification code                               GB00B0CM0C50 
     ------------------------------------------------  --------------------------------------------- 
 b)   Nature of the transaction                         Grant of options 
     ------------------------------------------------  --------------------------------------------- 
 c)   Price(s) and volume(s)                             Price(s)    Volume(s) 
                                                          1 penny     250,000 
                                                                     ---------- 
     ------------------------------------------------  --------------------------------------------- 
 d)   Aggregated information:                           N/A 
       -- Aggregated volume 
       -- Price 
     ------------------------------------------------  --------------------------------------------- 
 e)   Date of the transaction                           02 February 2021 
     ------------------------------------------------  --------------------------------------------- 
 f)   Place of the transaction                          Off market transaction 
     ------------------------------------------------  --------------------------------------------- 
 

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February 03, 2021 04:35 ET (09:35 GMT)