K3 Business Technology Group PLC Market Price Share Option Scheme (4499C)

TIDMKBT

RNS Number : 4499C

K3 Business Technology Group PLC

18 June 2021

18 June 2021

AIM: KBT

K3 Business Technology Group plc

("K3", "Company" or "Group")

Market Price Share Option Scheme

K3, which provides mission -- critical business software and cloud solutions, announces that its Remuneration Committee ("RemCo") has today granted 160,000 new options to certain Persons Discharging Managerial Responsibilities ("PDMRs") ("Share Options"). These grants have been made under the terms of the K3 Long Term Incentive Plan 2020 adopted on 12 November 2020 (the "LTIP") and together amount to approximately 0.36% of the Company's current non-diluted issued share capital. All of the Share Options are exercisable at a price of 204p per share, being the closing mid-market price of K3 ordinary shares on the business day immediately before the grant date.

The Share Options awarded to PDMRs of the Group are as follows:

 
 Name                   Position                    Options awarded 
 Robert Price           Chief Financial Officer              40,000 
                     ----------------------------  ---------------- 
 Sjoerd Starren         MD, Global Accounts                  40,000 
                     ----------------------------  ---------------- 
 Andrew Payne           Chief Technology Officer             40,000 
                     ----------------------------  ---------------- 
 Chrissie Humphrey      HR Director                          40,000 
                     ----------------------------  ---------------- 
 

Vesting of the Share Options is based on the achievement of certain prescribed levels of incremental annual recurring revenue in respect of the Group's K3|imagine product suite between 1 December 2020 (being the start of the current financial year of the Company) and 30 November 2024. The Share Options will vest proportionately as between 25% and 100% of the award, with no vesting permitted unless the lowest threshold (corresponding to 25% vesting) is achieved.

Subject to meeting the above performance targets, the Share Options may be exercised following vesting and until the seventh anniversary of the original date of grant, at which point they will lapse.

In addition, at the same time as the award of the Share Options, the Company has amended the terms of the 300,000 LTIP share options granted to the Group's Chairman, Tom Crawford, on 12 November 2020 to align the periods for measurement of the performance condition and vesting with the options granted to the Group's CEO on 30 March 2021.

Further details in respect of the awards are provided below, in accordance with the EU Market Abuse Regulation (No 596/2014).

For further information contact:

 
                                                    [phone] 
 K3 Business Technology Group plc                    4498 
 Marco Vergani, CEO 
 Rob Price, CFO 
 
                                                    [phone] 
 finnCap Ltd                                         0500 
 Nominated Adviser and Broker 
 Julian Blunt/James Thompson (Corporate finance) 
 Richard Chambers (Corporate Broking) 
 
                                                    [phone] 
 KTZ Communications                                  6378 
 Katie Tzouliadis/Dan Mahoney 
 
 
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)                           40,000 Options awarded 
d)  Aggregated information                          n/a 
     Aggregated volume Price 
e)  Date of the transaction                         18 June 2021 
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                               MD - Global Accounts 
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)                          40,000 Options awarded 
d)  Aggregated information                          n/a 
     Aggregated volume Price 
e)  Date of the transaction                         18 June 2021 
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 Payne 
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)                           40,000 Options awarded 
d)  Aggregated information                          n/a 
     Aggregated volume Price 
e)  Date of the transaction                         18 June 2021 
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                                            Chrissie Humphrey 
2.  Reason for notification 
b)  Position / status                               HR 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)                           40,000 Options awarded 
d)  Aggregated information                          n/a 
     Aggregated volume Price 
e)  Date of the transaction                         18 June 2021 
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                                           Tom Crawford 
2.  Reason for notification 
b)  Position / status                              Chairman 
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                      Amendment to Option Terms under the K3 LTIP 
c)  Price(s) and volume(s)                         n/a 

d)  Aggregated information                         n/a 
     Aggregated volume Price 
e)  Date of the transaction                        18 June 2021 
f)  Place of the transaction                       Outside a trading venue 
 

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June 18, 2021 11:54 ET (15:54 GMT)