Microgen PLC Award of Options (4068Z)

TIDMMCGN

RNS Number : 4068Z

Microgen PLC

31 August 2018

31 August 2018

Microgen Plc (the "Company")

Grant of awards under the Company's Performance Share Plan 2016 ("PSP")

On 30 August 2018 Microgen Plc granted awards in the form of options over ordinary shares ("Ordinary Shares") under the PSP to the following Directors. Each option has an exercise price per Ordinary Share equal to the nominal value of an Ordinary Share.

 
                    Number of Ordinary 
                  Shares over which award 
 Director                 granted 
 SIMON BAINES             46,289 
                ------------------------- 
 TOM CRAWFORD             57,087 
                ------------------------- 
 PHILIP WOOD              49,799 
                ------------------------- 
 

Each award has been granted subject to performance conditions based on stretching targets relating to growth in Earnings Per Share over performance period of three financial years starting with 2018 (as regards 50% of each award) and the Company's Total Shareholder Return over the same performance period relative to the TSRs of the constituents of the FTSE SmallCap Index (excluding investment trusts) (as regards 50% of each award), as set out below.

EPS element

 
 Annual compound growth in   Percentage of the EPS element 
  EPS                         that vests 
 10%                         25% 
                            ------------------------------ 
 Greater than 10% but less   Determined on a straight line 
  than 12%                    basis between 25% and 100% 
                            ------------------------------ 
 12% or greater than 12%     100% 
                            ------------------------------ 
 

TSR element

 
 Rank of the Company's TSR        Percentage of the TSR element 
  against the Comparator Group     that vests 
 Median                           25% 
                                 ------------------------------ 
 Between upper quartile and       Determined on a straight line 
  median                           basis between 25% and 100% 
                                 ------------------------------ 
 Upper quartile or above          100% 
                                 ------------------------------ 
 

Each award is subject to a further performance condition that the extent of vesting reflects the overall financial performance of the Company over the performance period.

Each award will, ordinarily, vest on the second anniversary of the date on which the Company's Remuneration Committee determines the extent to which the performance conditions have been satisfied.

Notification and public disclosure of transactions by PDMRs and persons closely associated with them

 
 1.   Details of PDMR / person closely associated with them ("PCA") 
 a)   Name                                                     (i) Simon Baines 
                                                                (ii) Tom Crawford 
                                                                (iii) Philip Wood 
     --------------------------------------------------------  ------------------------------------------------------- 
 2.   Reason for the notification 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Position / status                                        (i) Executive Director (CEO, Microgen Financial 
                                                               Systems) 
                                                               (ii) Executive Director (CEO, Aptitude Software) 
                                                               (iii) Executive Director (Chief Financial Officer) 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Initial notification / amendment                          Initial notification 
     --------------------------------------------------------  ------------------------------------------------------- 
 3.   Details of the issuer 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                      Microgen Plc 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   LEI                                                       2138009VHA1WI2VKMA28 
     --------------------------------------------------------  ------------------------------------------------------- 
 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, type of          Ordinary shares of 6 3/7 pence each 
      instrument 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Identification code                                       GB00BVVHWX30 
     --------------------------------------------------------  ------------------------------------------------------- 
 c)   Nature of the transaction                                 Grant of awards over Ordinary Shares under the 
                                                                Company's Performance Share Plan 2016 
     --------------------------------------------------------  ------------------------------------------------------- 
 d)   Price(s) and                                              Name            Price(s)    Volume(s) 
       volume(s)                                                 Simon Baines    N/A         46,289 
                                                                                ----------  ---------- 
                                                                 Tom Crawford    N/A         57,087 
                                                                                ----------  ---------- 
                                                                 Philip Wood     N/A         49,799 
                                                                                ----------  ---------- 
     --------------------------------------------------------  ------------------------------------------------------- 
 e)   Aggregated information                                    N/A 
        *    Volume 
 
 
        *    Price 
     --------------------------------------------------------  ------------------------------------------------------- 
 f)   Date of the transaction                                   30 August 2018 
     --------------------------------------------------------  ------------------------------------------------------- 
 g)   Place of the transaction                                  Outside a trading venue 
     --------------------------------------------------------  ------------------------------------------------------- 
 
   Name of contact:                        MARK HEATHER, COMPANY SECRETARY 

Address of contact: OLD CHANGE HOUSE, 128 QUEEN VICTORIA STREET, LONDON, EC4V 4BJ

   Telephone number of contact:     020 7496 8100 

www.microgen.com

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August 31, 2018 05:17 ET (09:17 GMT)