Synectics PLC Director/PDMR Shareholding (4544J)

TIDMSNX

RNS Number : 4544J

Synectics PLC

29 March 2018

 
         29 March 2018 
 

Synectics plc

(the "Company" or the "Group")

Award of Options under Share Plan

PDMR shareholdings

Synectics (AIM: SNX), a leader in the design, integration, control and management of advanced surveillance technology and networked security systems, announces that on 28 March 2018 it made awards over 30,000 Synectics plc ordinary shares of 20p (the "Shares") to certain senior managers employed within the Group, under its Performance Share Plan ("PSP").

Under the PSP award, awards were made to the following Persons Discharging Managerial Responsibility (PDMRs):

 
 Name               Position                Status    PSP award 
                                                       (number of 
                                                       Shares) 
-----------------  ----------------------  --------  ------------ 
                    Managing Director, 
 Stacey              SSS Management 
  Anderson           Services               PDMR      10,000 
-----------------  ----------------------  --------  ------------ 
                    Managing Director, 
                     Quadrant Security 
 Mark Pennington     Group Limited          PDMR      10,000 
-----------------  ----------------------  --------  ------------ 
                    Divisional Director, 
                     Synectics Mobile 
 Iain Stringer       Systems                PDMR      10,000 
-----------------  ----------------------  --------  ------------ 
 

Following the awards, their total interests in Shares are now as follows:

 
 Name                 Shares         Interest         Resultant      % of issued 
                        held        in Shares    total interest    share capital 
                                 in Synectics 
                                share schemes 
-----------------  ---------  ---------------  ----------------  --------------- 
 Stacey Anderson           -           23,500            23,500            0.13% 
-----------------  ---------  ---------------  ----------------  --------------- 
 Mark Pennington           -           15,000            15,000            0.08% 
-----------------  ---------  ---------------  ----------------  --------------- 
 Iain Stringer             -           26,500            26,500            0.15% 
-----------------  ---------  ---------------  ----------------  --------------- 
 

Under the PSP, selected employees are entitled to exercise an option to receive a certain number of Shares at any time after a 3 year vesting period, at no cost to themselves. The number of Shares that are awarded at the end of the 3 year period is dependent on the achievement of certain performance criteria.

Vesting of the PSP awards is dependent on the total return on Shares compared with the AIM All Share Total Return Index (the "Index"). If the total return on Shares out-performs the Index by 5% or more in the 3 years following the award, all of the Shares awarded will vest. If Shares match the Index performance, then 25% of the awarded Shares will vest. Between these points the number of Shares that vest will be pro-rata. If the total return on Shares underperforms the Index, then no Shares will vest. The limit on the number of Shares over which interests may be awarded remains unchanged.

Any entitlement under the PSP will lapse on cessation of employment prior to the end of the 3 year vesting period, unless cessation of employment is by reason of redundancy, ill health or death.

Should the performance criteria be met in full or part, it is intended that the appropriate number of Shares will be satisfied from unallocated Shares already held within the Company's employee benefit trust.

Full details of the PSP were set out in the Company's Annual Report for the year ended 30 November 2017.

For further information, please contact:

 
       Synectics plc                     Tel: [phone] 
       Richard Brierley, Company              www.synecticsplc.com 
        Secretary 
 
       Stockdale Securities              Tel: [phone] 
       Tom Griffiths / Henry 
        Willcocks 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 29, 2018 09:09 ET (13:09 GMT)