Mercia Technologies PLC Grant of Options (0572Z)

TIDMMERC

RNS Number : 0572Z

Mercia Technologies PLC

29 August 2018

 
 For immediate release              29 August 2018 
 

Mercia Technologies PLC

("Mercia" or the "Company")

Grant of Options

Mercia Technologies PLC (AIM: MERC), the national investment group focused on the identification, creation, funding and scaling of innovative technology businesses with high growth potential from the UK regions, announces that options (the "Options") over a total of 4,689,000 new Ordinary shares with a nominal value of 0.001p each in the capital of the Company ("Ordinary Shares") were awarded yesterday pursuant to the 2014 Mercia Company Share Option Plan at an exercise price of 30.80p per Ordinary Share (being the closing mid-market price of an Ordinary Share on 28 August 2018). The Options will, subject to the satisfaction of the performance condition, vest in three equal tranches on the third, fourth and fifth anniversary of the date of grant of the Options.

The Options represent, in aggregate, 1.55% of the existing Ordinary share capital of the Company and have been issued to a number of employees of the Company, including all three Executive Directors and three further persons discharging managerial responsibilities ("PDMRs").

Following these grants, the Company has a total of 14,851,000 unvested options pursuant to the 2014 Mercia Company Share Option Plan, equating to approximately 4.90% of the existing issued Ordinary share capital of the Company.

Following the grant of these Options, PDMRs hold the following Ordinary Shares and options:

 
 Name               Role                       Grant of        Total number     Interest 
                                                Options over    of options       in existing 
                                                Ordinary        over Ordinary    issued Ordinary 
                                                Shares          Shares           Shares 
 Dr. Mark Payton    Chief Executive Officer    400,000         2,200,000        6,655,472 
                    ------------------------  --------------  ---------------  ----------------- 
 Martin Glanfield   Chief Financial Officer    400,000         2,200,000        293,369 
                    ------------------------  --------------  ---------------  ----------------- 
                    Chief Investment 
 Julian Viggars      Officer                   1,200,000       1,600,000        424,325* 
                    ------------------------  --------------  ---------------  ----------------- 
 Peter Dines        PDMR                       600,000         600,000          45,551 
                    ------------------------  --------------  ---------------  ----------------- 
 John Simpson       PDMR                       200,000         450,000          754,997 
                    ------------------------  --------------  ---------------  ----------------- 
 Ceri Bailey        PDMR                       100,000         100,000          21,739 
                    ------------------------  --------------  ---------------  ----------------- 
 

*Including 75,000 Ordinary Shares held by Mrs Emma Viggars.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by person discharging managerial responsibilities.

 
 1    Details of the persons discharging managerial responsibilities/person 
       closely associated 
 a)   Name                                  (i) Dr. Mark Payton - Chief Executive Officer 
                                             (ii) Martin Glanfield - Chief Financial 
                                             Officer 
                                             (iii) Julian Viggars - Chief Investment 
                                             Officer 
                                             (iv) Peter Dines - PDMR 
                                             (v) John Simpson - PDMR 
                                             (vi) Ceri Bailey - PDMR 
     ------------------------------------  ------------------------------------------------ 
 2    Reason for the notification 
     -------------------------------------------------------------------------------------- 
 a)   Position/status                       Executive Directors and PDMRs of the Company 
     ------------------------------------  ------------------------------------------------ 
 b)   Initial Notification                  Initial Notification 
       /Amendment 
     ------------------------------------  ------------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     -------------------------------------------------------------------------------------- 
 a)   Name                                  Mercia Technologies PLC 
     ------------------------------------  ------------------------------------------------ 
 b)   Legal Entity Identifier               213800A1Q4CF57NECG66 
     ------------------------------------  ------------------------------------------------ 
 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                        Ordinary shares of 0.001 pence each 
       the financial instrument, 
       type of instrument 
 
       Identification                        ISIN: GB00BSL71W47 
       code 
     ------------------------------------  ------------------------------------------------ 
 b)   Nature of the transaction             Grant of options 
     ------------------------------------  ------------------------------------------------ 
 c)   Currency                              GBP 
     ------------------------------------  ------------------------------------------------ 
 d)   Price(s) and volume(s)                Exercise            No. of shares 
                                             Price 
     ------------------------------------  ------------------  ---------------------------- 
                                            GBP0.3080           (i) 400,000 
     ------------------------------------  ------------------  ---------------------------- 
                                            GBP0.3080           (ii) 400,000 
                                           ------------------  ---------------------------- 
                                            GBP0.3080           (iii) 1,200,000 
                                           ------------------  ---------------------------- 
                                            GBP0.3080           (iv) 600,000 
                                           ------------------  ---------------------------- 
                                            GBP0.3080           (v) 200,000 
                                           ------------------  ---------------------------- 
                                            GBP0.3080           (vi) 100,000 
                                           ------------------  ---------------------------- 
 
 e)   Aggregated information                N/A - single transactions 
       - Aggregated volume 
       - Price 
       - Aggregated total 
     ------------------------------------  ------------------------------------------------ 
 f)   Date of the transaction               28 August 2018 
     ------------------------------------  ------------------------------------------------ 
 g)   Place of the transaction              Outside a trading venue 
     ------------------------------------  ------------------------------------------------ 
 

For further information, please contact:

 
Mercia Technologies PLC 
 Mark Payton, Chief Executive Officer 
 Martin Glanfield, Chief Financial Officer 
 www.merciatech.co.uk                         [phone] 
Cenkos Securities plc 
 Stephen Keys (NOMAD and Joint Broker)        [phone] 
 
Canaccord Genuity Limited 
 Simon Bridges, Emma Gabriel (Joint Broker) 
                                              [phone] 
 Buchanan 
 Bobby Morse, Chris Lane, Stephanie Watson 
 www.buchanan.uk.com                           [phone] 
 

About Mercia Technologies PLC

Mercia is a national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions. Mercia benefits from 19 university partnerships and offices across the Midlands, the North of England and Scotland providing it with access to high quality, regional deal flow. Mercia Technologies PLC is quoted on AIM with the epic "MERC".

Mercia's 'Complete Capital Solution' initially nurtures businesses via its third-party funds (now with circa GBP400million under management following recent mandate wins) and then over time Mercia can provide further funding to its 'Emerging Stars' by deploying direct investment follow-on capital from its own balance sheet. Since its IPO in December 2014, Mercia has invested over GBP63million directly across its portfolio of Emerging Stars.

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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August 29, 2018 02:01 ET (06:01 GMT)