Marlowe PLC Grant of Share Options (8039C)

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RNS Number : 8039C

Marlowe PLC

19 June 2019

19 June 2019

Marlowe plc

Grant of Share Options

Marlowe plc ("Marlowe" or the "Group"), the specialist services group focused on developing companies which assure safety and regulatory compliance, announces that the Group has today granted share options over a total of 134,297 ordinary shares of 50 pence each in Marlowe (the "New Share Options").

The New Share Options have been awarded pursuant to the Group's Long Term Incentive Plan 2019, to drive and reward the achievement of the Group's longer-term objectives and to support retention. 92,975 of the New Share Options have been granted to Alex Dacre, Chief Executive, and 41,322 of the New Share Options have been granted to Mark Adams, Group Finance Director. The New Share Options will vest, in whole or in part, on 1 April 2022 (or upon a change of control) subject to the following performance conditions having been met over the preceding three-year period:

 
 Compound Annual              Vesting 
  Total Shareholder Return 
 Less than 5%                 0% 
                             --------------------------- 
 More than 15%                100% 
                             --------------------------- 
 Between 5% and 15%           0%-100% on a straight-line 
                               basis 
                             --------------------------- 
 

Unless special circumstances apply, the New Share Options will normally lapse immediately on cessation of employment. Upon vesting, the New Share Options will be exercisable at a price of 50 pence per ordinary at any time prior to expiry on 31 March 2029.

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further details.

For further information:

 
 Marlowe plc                               www.marloweplc.com 
 Alex Dacre, Chief Executive               Tel: [phone] 
                                            6194 
 Mark Adams, Group Finance Director        [e-mail] 
 
 Cenkos Securities plc (Nominated Adviser & Joint Broker) 
 Nicholas Wells                            Tel: [phone] 
                                            8900 
 Ben Jeynes 
 Harry Hargreaves 
 
 Joh. Berenberg, Gossler & Co. KG, London Branch (Joint Broker) 
 Ben Wright                                Tel: [phone] 
                                            7800 
 Mark Whitmore 
 
 FTI Consulting 
 Nick Hasell                               Tel: [phone] 
                                            1340 
 Alex Le May 
 

About Marlowe plc

Marlowe is a UK leader in specialist services which assure the safety and regulatory compliance of commercial properties, whilst managing risk for businesses across the country. The Group was formed to create sustainable shareholder value through the acquisition and development of businesses that provide regulated inspection, testing and compliance services. It is focused on health & safety, fire safety, security, water safety, water treatment, air quality and environmental services - all of which are vital to the wellbeing of its customers operations and are invariably governed by regulation. Marlowe currently provides services to over 10% of Britain's commercial properties and is increasingly attractive to customers who require a single outsourced, nationwide, provider of a comprehensive range of regulated safety services. Our customers can be found in most office complexes, high streets & leisure facilities, manufacturing plants and industrial estates, and include SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                  Alex Dacre 
      ------------------------------------  -------------------------------------- 
 2     Reason for the notification 
      ---------------------------------------------------------------------------- 
 a)    Position/status                       Chief Executive 
      ------------------------------------  -------------------------------------- 
 b)    Initial notification/Amendment        Initial Notification 
      ------------------------------------  -------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ---------------------------------------------------------------------------- 
 a)    Name                                  Marlowe plc 
      ------------------------------------  -------------------------------------- 
 b)    LEI                                   213800ZWSR4SBOM6B608 
      ------------------------------------  -------------------------------------- 
 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          Ordinary shares of 50 pence 
        instrument, type of instrument        each 
      ------------------------------------  -------------------------------------- 
       Identification code                   GB00BD8SLV43 
      ------------------------------------  -------------------------------------- 
 b)    Nature of the transaction             Grant of new options over ordinary 
                                              shares 
      ------------------------------------  -------------------------------------- 
 c)    Price(s) and volumes(s)                      Price(s)            Volume(s) 
      ------------------------------------  ------------------------  ------------ 
                            Exercise price 
                             - GBP0.50 per 
                                 option                                  92,975 
  ------------------------------------------------------------------  ------------ 
 d)    Aggregated information                N/A single transaction 
      ------------------------------------  -------------------------------------- 
  Aggregated volume                     N/A single transaction 
 ------------------------------------  ------------------------------------------- 
  Price                                 N/A single transaction 
 ------------------------------------  ------------------------------------------- 
 e)    Date of the transaction               19 June 2019 
      ------------------------------------  -------------------------------------- 
 f)    Place of the transaction              Outside of a trading venue 
                                              (XOFF) 
      ------------------------------------  -------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                  Mark Adams 
      ------------------------------------  -------------------------------------- 
 2     Reason for the notification 
      ---------------------------------------------------------------------------- 
 a)    Position/status                       Finance Director 
      ------------------------------------  -------------------------------------- 
 b)    Initial notification/Amendment        Initial Notification 
      ------------------------------------  -------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ---------------------------------------------------------------------------- 
 a)    Name                                  Marlowe plc 
      ------------------------------------  -------------------------------------- 
 b)    LEI                                   213800ZWSR4SBOM6B608 
      ------------------------------------  -------------------------------------- 
 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          Ordinary shares of 50 pence 
        instrument, type of instrument        each 
      ------------------------------------  -------------------------------------- 
       Identification code                   GB00BD8SLV43 
      ------------------------------------  -------------------------------------- 
 b)    Nature of the transaction             Grant of new options over ordinary 
                                              shares 
      ------------------------------------  -------------------------------------- 
 c)    Price(s) and volumes(s)                      Price(s)            Volume(s) 
      ------------------------------------  ------------------------  ------------ 
                            Exercise price 
                             - GBP0.50 per 
                                 option                                  41,322 
  ------------------------------------------------------------------  ------------ 
 d)    Aggregated information                N/A single transaction 
      ------------------------------------  -------------------------------------- 
  Aggregated volume                     N/A single transaction 
 ------------------------------------  ------------------------------------------- 
  Price                                 N/A single transaction 
 ------------------------------------  ------------------------------------------- 
 e)    Date of the transaction               19 June 2019 

      ------------------------------------  -------------------------------------- 
 f)    Place of the transaction              Outside of a trading venue 
                                              (XOFF) 
      ------------------------------------  -------------------------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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June 19, 2019 10:36 ET (14:36 GMT)