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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| K3 Business Technology Group Plc | LSE:KBT | London | Ordinary Share | GB00B00P6061 | ORD 25P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 103.50 | 102.00 | 105.00 | 103.50 | 103.50 | 103.50 | 1,800 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Fabricated Rubber Pds, Nec | 47.48M | -3.98M | -0.0902 | -11.47 | 45.63M |
From Apr 2019 to Apr 2024
TIDMKBT
RNS Number : 0224K
K3 Business Technology Group PLC
05 April 2018
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
K3 Business Technology Group plc
("K3", "Company" or "Group")
LTIP Option Scheme
The Remuneration Committee of the K3 Board ("RemCo") has today granted 2,540,000 new options to certain PDMRs ("LTIP Options"). These grants have been made under the terms of a new K3 Long Term Incentive Plan (the "LTIP") and together amount to approximately 5.9% of the Company's current non-diluted issued share capital. All of the LTIP Options are exercisable at a price of 25p per share, being nominal value.
The LTIP Options awarded to PDMRs of the Group are as follows:
Hot Features
Premium
Name LTIP Options
awarded
------------------------- -------------
Adalsteinn Valdimarsson 840,000
------------------------- -------------
Robert Price 550,000
------------------------- -------------
Rod Barlow 400,000
------------------------- -------------
Sjoerd Starren 300,000
------------------------- -------------
Andrew Latham 300,000
------------------------- -------------
Peder Falck 150,000
------------------------- -------------
The LTIP Options vest in three tranches, as set out below, based on the achievement of certain hurdles relating to the adjusted operating profit ("AOP", being operating profits prior to any share based payment charges) of the Group for each of the two years to 30 November 2019 and, in respect of the last tranche, a further criteria based on the Company's share price during the 30 days immediately following the announcement of K3's results for the year ended 30 November 2020 (the "Price Vesting Criteria") and the Adjusted Profit per share for the year ending 30 November 2020.
The performance measures for each of the three years to 30 November 2020, and the proportion of each award vesting upon delivery are as follows:
Tranche Year to Minimum AOP % of
30 November to trigger total
award award
triggered
-------- -------------- ------------------- -----------
1 2018 AOP of GBP5.8m 20%
-------- -------------- ------------------- -----------
2 2019 AOP of GBP8.0m 10%
-------- -------------- ------------------- ----------- ----------------
Adjusted Profit (based on a
per share GBP0.19 0% - straight line
3a 2020 - GBP0.28 35% sliding scale)
-------- -------------- ------------------- ----------- ----------------
(based on a
2020 results Share Price 0% - straight line
3b announcement GBP2.20 - GBP3.20 35% sliding scale)
-------- -------------- ------------------- ----------- ----------------
If performance criteria are missed for the first and/or second tranches, the awarded LTIP Options will be rolled over into the following year(s) but will only vest upon the achievement of the performance criteria of the second or third tranche, as the case may be. In the event that the first and second tranches are rolled into the third tranche, they will vest on the basis of a 50/50 split between the two separate third tranche tests, and upon achievement of the minimum target for the relevant of the two tests.
PDMR Dealing
The Company has also received notification from Johan och Marianne Claesson AB that on 29 March 2018, Johan och Marianne Claesson AB (a company controlled by Johan Claesson) has purchased 227,907 ordinary shares of 25p each in the capital of the Company ("Ordinary Shares") at a price of 172p per Ordinary Share from Carlton Telecom Inc, a company controlled by a family relation of Johan Claesson (the "Purchase"). Following the Purchase, the Company has been informed that the total number of Ordinary shares in which Mr Claesson is now interested is now 5,087,697 Ordinary Shares representing 11.85% of the total voting rights of the Company held as follows:
PJ Claesson 351,700 ----------------------------- ------------ Johan och Marianne Claesson AB 1,947,461 ----------------------------- ------------ Fastighets AB Bremia 567,500 ----------------------------- ------------ CA Fastigheter AB 2,221,036 ----------------------------- ------------ Total 5,087,697 ----------------------------- ------------
Carlton Telecom Inc, a company controlled by a family relation of Johan Claesson, is now interested in 2,148,093 Ordinary Shares representing 5.0% of the total voting rights of the Company.
The Company makes the below announcement and notification in accordance with the EU Market Abuse Regulation (No 596/2014) in respect of the Purchase and the LTIP Options:
Enquiries:
K3 Business Technology Adalsteinn Valdimarsson, T: 0161 876
Group plc CEO 4498
Rob Price, CFO
finnCap Limited (NOMAD Julian Blunt/James T: 020 7220
& Broker) Thompson (Corporate 0500
Finance)
Emily Morris (Corporate
Broking)
KTZ Communications Katie Tzouliadis/Emma T: 020 3178
Pearson 6378
1. Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated
with them ('PCA')
a) Name Adalsteinn Valdimarsson
2. Reason for notification
b) Position / status Chief Executive Officer
c) Initial notification / amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
b) Name K3 Business Technology Group plc
c) LEI 213800QOJ9OF2AV81748
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 Options over ordinary shares of 25p each
Identification code
GB00B00P6061
b) Nature of the transaction Award of Options under the K3 LTIP
c) Price(s) and volume(s) 840,000 Options awarded
d) Aggregated information n/a
Aggregated volume Price
e) Date of the transaction 5 April 2018
f) Place of the transaction Outside a trading venue
1. Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated
with them ('PCA')
a) Name Robert Price
2. Reason for notification
b) Position / status Chief Financial Officer
c) Initial notification / amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
b) Name K3 Business Technology Group plc
c) LEI 213800QOJ9OF2AV81748
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 Options over ordinary shares of 25p each
Identification code
GB00B00P6061
b) Nature of the transaction Award of Options under the K3 LTIP
c) Price(s) and volume(s) 550,000 Options awarded
d) Aggregated information n/a
Aggregated volume Price
e) Date of the transaction 5 April 2018
f) Place of the transaction Outside a trading venue
1. Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated
with them ('PCA')
a) Name Rod Barlow
2. Reason for notification
b) Position / status Divisional Managing Director
c) Initial notification / amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
b) Name K3 Business Technology Group plc
c) LEI 213800QOJ9OF2AV81748
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 Options over ordinary shares of 25p each
Identification code
GB00B00P6061
b) Nature of the transaction Award of Options under the K3 LTIP
c) Price(s) and volume(s) 400,000 Options awarded
d) Aggregated information n/a
Aggregated volume Price
e) Date of the transaction 5 April 2018
f) Place of the transaction Outside a trading venue
1. Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated
with them ('PCA')
a) Name Sjoerd Starren
2. Reason for notification
b) Position / status Divisional Managing Director
c) Initial notification / amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
b) Name K3 Business Technology Group plc
c) LEI 213800QOJ9OF2AV81748
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 Options over ordinary shares of 25p each
Identification code
GB00B00P6061
b) Nature of the transaction Award of Options under the K3 LTIP
c) Price(s) and volume(s) 300,000 Options awarded
d) Aggregated information n/a
Aggregated volume Price
e) Date of the transaction 5 April 2018
f) Place of the transaction Outside a trading venue
1. Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated
with them ('PCA')
a) Name Peder Falck
2. Reason for notification
b) Position / status Divisional Managing Director
c) Initial notification / amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
b) Name K3 Business Technology Group plc
c) LEI 213800QOJ9OF2AV81748
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 Options over ordinary shares of 25p each
Identification code
GB00B00P6061
b) Nature of the transaction Award of Options under the K3 LTIP
c) Price(s) and volume(s) 150,000 Options awarded
d) Aggregated information n/a
Aggregated volume Price
e) Date of the transaction 5 April 2018
f) Place of the transaction Outside a trading venue
1. Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated
with them ('PCA')
a) Name Andrew Latham
2. Reason for notification
b) Position / status Chief Technology Officer
c) Initial notification / amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
b) Name K3 Business Technology Group plc
c) LEI 213800QOJ9OF2AV81748
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 Options over ordinary shares of 25p each
Identification code
GB00B00P6061
b) Nature of the transaction Award of Options under the K3 LTIP
c) Price(s) and volume(s) 300,000 Options awarded
d) Aggregated information n/a
Aggregated volume Price
e) Date of the transaction 5 April 2018
f) Place of the transaction Outside a trading venue
1. Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated
with them ('PCA')
a) Name PJ Claesson
2. Reason for notification
b) Position / status Non-executive director
c) Initial notification / amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
b) Name K3 Business Technology Group plc
c) LEI 213800QOJ9OF2AV81748
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 ordinary shares of 25p each
Identification code GB00B00P6061
b) Nature of the transaction Acquisition of ordinary shares of 25p each
by Johan och Marianne Claesson AB, a company controlled
by PJ Claesson, from Carlton Telecom Inc, a company controlled by a
family relation of PJ
Claesson
c) Price(s) and volume(s) Volume: 227,907
Price: 172p per Ordinary Share
d) Aggregated information n/a
Aggregated volume Price
e) Date of the transaction 29 March 2018
f) Place of the transaction London Stock Exchange, AIM Market (XLON)
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHFKPDNPBKDDQK
(END) Dow Jones Newswires
April 05, 2018 11:36 ET (15:36 GMT)
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