SRT Marine Systems PLC Grant of Share Options (1937K)

TIDMSRT

RNS Number : 1937K

SRT Marine Systems PLC

04 May 2022

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

Grant of share options

SRT Marine Systems plc, a global provider of maritime surveillance, monitoring and management systems, announces that share options have been granted to Simon Tucker, Chief Executive Officer.

On 3 May 2022, options were granted over 2,500,000 ordinary shares of 0.1p each and are exercisable at the nominal value. The options vest between 3 and 10 years in five equal tranches when the average mid-market closing share price exceeds each of 125p, 150p, 200p, 250p, 300p over a twenty day period. The latest closing price of the shares was 33p, the first tranche of options representing an increase of in excess of 3.8x the current share price.

 
 Contacts: 
 SRT Marine Systems plc                                         www.srt-marine.com 
                                                              + 44 (0) 1761 409500 
 Simon Tucker (CEO)                                    [e-mail] 
 Louise Coates (Marketing Manager)                    [e-mail] 
 finnCap Ltd 
 Jonny Franklin-Adams / Teddy Whiley (Corporate 
  Finance)                                                    [phone] 
 Tim Redfern / Charlotte Sutcliffe (ECM) 
 
 
 

About SRT Marine Systems plc:

SRT Marine Systems PLC is a global company which develops and provides integrated maritime surveillance, monitoring, management and safety systems used by coast guards, fishery authorities, infrastructure and vessel owners for the purposes of managing and controlling their maritime domain. Applications include security, safety, search & rescue, law enforcement, fisheries management, illegal fishing detection and environment monitoring.

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                                       Simon Tucker 
                                                --------------------------------------------- 
 2    Reason for the notification 
---  ---------------------------------------------------------------------------------------- 
 a)   Position/status                            Chief Executive Officer 
---                                             --------------------------------------------- 
 b)   Initial notification/                      Initial Notification 
       Amendment 
---                                             --------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
---  ---------------------------------------------------------------------------------------- 
 a)   Name                                       SRT Marine Systems PLC 
---                                             --------------------------------------------- 
 b)   LEI                                        2138002DF3KFXL472938 
---                                             --------------------------------------------- 
 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 0.1p each in SRT Marine 
       the financial                              Systems plc 
       instrument, type 
       of instrument                              ISIN - GB00B0M8KM36 
       Identification 
       code 
---                                             --------------------------------------------- 
 b)   Nature of the                              Grant of Options over Ordinary Shares 
       transaction 
---                                             --------------------------------------------- 
 c)   Price(s) and volume(s)                     Price(s)              Volume(s) 
 
                                                  125p                  500,000 
                                                  150p                  500,000 
                                                  200p                  500,000 
                                                  250p                  500,000 
                                                  300p                  500,000 
---                                             --------------------  ----------------------- 
 d) 
         Aggregated information 
          *    Aggregated volume                   2,500,000 
                                                   500,000 at each price hurdle as noted 
                                                   above in 4 (c). 
          *    Price 
---  -----------------------------------------  --------------------------------------------- 
 e)   Date of the transaction                    3 May 2022 
---                                             --------------------------------------------- 
 f)   Place of the transaction                   London Stock Exchange, AIM 
---                                             --------------------------------------------- 
 

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May 04, 2022 02:02 ET (06:02 GMT)