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SMRT Smartspace Software Plc

87.50
-0.50 (-0.57%)
Last Updated: 08:00:11
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Smartspace Software Plc LSE:SMRT London Ordinary Share GB00BYWN0F98 ORD SHS 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50 -0.57% 87.50 85.00 90.00 87.50 86.50 87.50 1,338 08:00:11
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Phone Comm Ex Radiotelephone 7.15M -2.74M -0.0946 -9.25 25.32M

Smartspace Software PLC Grant of, and amendments to, Share Options (5280E)

18/10/2018 4:45pm

UK Regulatory


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RNS Number : 5280E

Smartspace Software PLC

18 October 2018

18 October 2018

SmartSpace Software Plc

("SmartSpace" or the "Company" or the "Group")

Grant of, and amendments to, Share Options

Further to the announcement of 1 August 2018 of the Grant of EMI Options to 58 employees of SmartSpace, in order to align Directors and certain other senior members of SmartSpace, the Company announces that on 17 October 2018 the remuneration committee agreed a number of grants to directors and persons discharging managerial responsibilities ("PDMRs") of EMI options ("Options") and a number of amendments to the vesting periods of existing Options.

Grant of Options

Options have been granted over a total of 910,000 ordinary shares of 10p each as follows:

 
                                         Option over ordinary 
   Director/PDMR                Scheme                 shares 
 Frank Beechinor            EMI Scheme                265,950 
                     Unapproved Option 
 Frank Beechinor                Scheme                284,050 
 Spencer Dredge             EMI Scheme                265,950 
                     Unapproved Option 
 Spencer Dredge                 Scheme                 69,050 
  Rosie Clawson             EMI Scheme                 25,000 
 

The Options have an exercise price of 94p per share (being the closing mid-market share price on 17 October 2018, the latest possible date prior to the date of grant), vest three years from the date of grant and once vested are exercisable at any time up to ten years after the date of grant, subject to performance conditions whereby the average mid-market closing share price of the Company's Ordinary Shares in any 90 day period in the period to 17 October 2021 is at or above certain defined levels, as follows:

 
  Share price at or   Cumulative 
   above:              % vesting 
 
 150p                        15% 
 250p                        31% 
 350p                        54% 
 450p                        77% 
 500p                       100% 
 

Spencer Dredge has surrendered existing options over 260,000 ordinary shares with an exercise price of 92p in consideration for the above option grants.

Amendments to existing Options

In addition, given the significant change in the commercial strategy of the Group following the disposal of the Systems Integration and Management Services divisions in June this year, the remuneration committee has decided to extend the performance period relating to previously granted options held by Frank Beechinor (100,000 EMI Options), Guy van Zwanenberg (30,000 Unapproved Options) and Diana Dyer Bartlett (70,000 Unapproved Options). The options are subject to the same performance set out above but the period for the performance criteria to be met has been extended from 31 December 2018 to 17 October 2021.

Following the above, the resulting interests of the Directors in SmartSpace ordinary shares are as follows:

 
                        Position         Ordinary Shares   Options over 
                                                            ordinary shares 
                        Non-executive 
 Guy Van Zwanenberg      Chairman        30,000            30,000 
                       ---------------  ----------------  ----------------- 
 Frank Beechinor        CEO              90,000            650,000 
                       ---------------  ----------------  ----------------- 
 Spencer Dredge         CFO              32,126            335,000 
                       ---------------  ----------------  ----------------- 
                        Non-executive 
 Diana Dyer-Bartlett     Director        40,000            70,000 
                       ---------------  ----------------  ----------------- 
 

Guy van Zwanenberg, Chairman of SmartSpace, commented:

"With the focus now on becoming an international leader in the fast growing workspace management software market, it is crucial that we align the interests of all members of the SmartSpace team with shareholders. The EMI Option Scheme was established to incentivise management and staff to increase shareholder value over the long term and the remuneration committee is keen to ensure that remuneration for the Company's senior team and employees will be effective, fair and motivate them to deliver success for the Company and its shareholders. Given the completion of the recently announced acquisition, we can now extend this to the board and others"

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

Enquiries

 
 SmartSpace Software Plc                        via Lisa Baderoon 
  Guy van Zwanenberg (Chairman) 
  Frank Beechinor (CEO) 
 Lisa Baderoon (Head of Investor Relations)     +44 (0) 7721 413 
  lbaderoon@smartspaceplc.com                    496 
 Cantor Fitzgerald Europe (Nominated Adviser 
  & Joint Broker) 
  Marc Milmo / Catherine Leftley                +44 (0)20 7894 7000 
 

About SmartSpace Software Plc

SmartSpace is building a SaaS orientated software business, designing and building software centering around its 'Connect' software platform and 'OneSpace' occupancy management software, to help people work smarter and more efficiently on a global platform. The Company's software solutions in workspace, retail and hospitality help transform employee and customer engagement with software modules which include: desk and meeting room management, wayfinding, car parking, visitor management, frictionless vending and space management.

For more information go to: www.smartspaceplc.com

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                       Company Director/PDMR 
                                  Frank Beechinor    CEO 
                                                    ----- 
                                  Spencer Dredge     CFO 
                                                    ----- 
                                  Rosie Clawson      PDMR 
                                                    ----- 
     -----------------------  ------------------------------------------------------------- 
 2    Reason for the notification 
     -------------------------------------------------------------------------------------- 
 a)   Position/status          See 1 (a) above for all positions, all classified 
                                as PDMRs of the Company 
     -----------------------  ------------------------------------------------------------- 
      Initial notification     Initial notification 
       /Amendment 
     -----------------------  ------------------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     -------------------------------------------------------------------------------------- 
 a)   Name                     Smartspace Software Plc 
     -----------------------  ------------------------------------------------------------- 
 b)   LEI                      213800IQXZ3XYCMH6U90 
     -----------------------  ------------------------------------------------------------- 
 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              Ordinary Shares of 10p each 
       of the financial 
       instrument, 
       type of instrument 
 
      Identification           ISIN: GB00BYWN0F98 
       code 
 
 b)   Nature of the                       Grant of share options over Ordinary Shares 
       transaction 
     -----------------------  ------------------------------------------------------------- 
 c)   Price(s) and               Exercise price: 94p per Ordinary 
       volume(s)                  Share 
 
                                  Volumes: Frank Beechinor    550,000 
                                   Spencer Dredge     335,000 
                                                     -------- 
                                   Rosie Clawson      25,000 
                                                     -------- 
                                ------------------------------------------------------- 
 
 d)   Aggregated               n/a 
       information 
 
      - Aggregated 
       volume 
 
      - Price 
 
 e)   Date of the              17 October 2018 
       transaction 
     -----------------------  ------------------------------------------------------------- 
 f)   Place of the             Off market 
       transaction 
     -----------------------  ------------------------------------------------------------- 
 

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 rns@lseg.com or visit www.rns.com.

END

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(END) Dow Jones Newswires

October 18, 2018 11:45 ET (15:45 GMT)

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