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Share Name Share Symbol Market Type Share ISIN Share Description
Tekmar Group Plc LSE:TGP London Ordinary Share GB00BDFGGK53 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -4.00 -5.33% 71.00 70.00 72.00 75.00 71.00 75.00 293,506 15:42:43
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil Equipment Services & Distribution 40.9 2.0 3.9 18.4 36

Tekmar Group PLC Grant of Options under Retention Plan

21/08/2020 7:00am

UK Regulatory (RNS & others)


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RNS Number : 7615W

Tekmar Group PLC

21 August 2020

21 August 2020

Tekmar Group plc

("Tekmar", the "Group" or the "Company")

Grant of options under Retention Plan

Tekmar Group plc a leading provider of technology and services for the global offshore energy markets, announces that the Group's Remuneration Committee has approved a new share option incentive plan, the Retention Plan, to further incentivise the executive management team. The team have been granted awards for up to 200,000 ordinary shares of GBP0.01 each in the Company ("Shares"), being awarded based on length of service. The award comprises 100,000 Shares being foregone by James Ritchie under the IPO Incentive Plan, reducing the maximum number he could acquire from 225,000 Shares to 125,000 Shares. An additional 100,000 Shares will be made available by the Company.

The following Persons Discharging Managerial Responsibility ("PDMRs") have been granted options:

 
 Name               Position                     Number     Total number   Total interest          Total 
                                           of Retention       of options      in Ordinary       interest 
                                                options    over Ordinary     Shares (No.)    in Ordinary 
                                                granted           Shares                          Shares 
                                                                                                     (%) 
                    Executive Chairman 
 Alasdair            Tekmar Group 
  MacDonald          plc                         17,073           17,073          434,526          0.85% 
                    Chief Financial 
                     Officer 
                     Tekmar Group 
 Susan Hurst         plc                         43,042          491,292          276,569          0.54% 
                    Managing Director 
 Russell             Tekmar Energy 
  Edmondson          Ltd                         43,042          278,090          197,686          0.39% 
                    Sales Director 
                     Tekmar Energy 
 Jack Simpson        Limited                     53,802          229,224          195,009          0.38% 
                    Chief Technology 
                     Officer 
                     Tekmar Group 
 Steven Rossiter     plc                         32,281          215,291          102,564          0.20% 
                    Managing Director 
                     Subsea Innovation 
 David Thompson      Limited                     10,760          217,872                0              0 
 

Conditions

Shares will not be made available under the Retention Plan until on or after 1(st) June 2021 at which point individuals will be entitled to acquire shares provided that:

   a.    they remain employed at the date of acquisition; and 

b. during the period to 31 May 2021, they do not, otherwise than with the agreement of the board, sell, or other dispose of, any Shares (save, in the case of the employees other than Alasdair MacDonald and David Thompson, to meet any resulting tax liability if they exercise their rights to acquire Shares under the Company's IPO Incentive Plan).

The relevant notification set out below is provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.

 
 1     Details of the person discharging managerial responsibility 
        / person closely associated 
 a)     Name                                       Alasdair MacDonald 
      ------------------------------------------  ---------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------------------ 
 a)    Position/status                             Executive Chairman, Tekmar Group 
                                                    plc 
      ------------------------------------------  ---------------------------------------- 
 b)    Initial notification/amendment              Initial Notification 
      ------------------------------------------  ---------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------------ 
 a)    Name                                         Tekmar Group plc 
      ------------------------------------------  ---------------------------------------- 
 b)    LEI                                         213800839UQKQTV33E71 
      ------------------------------------------  ---------------------------------------- 
 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                Ordinary shares of 0.01p each 
        instrument, type of 
        instrument 
      ------------------------------------------  ---------------------------------------- 
       Identification code                         GB00BDFGGK53 
      ------------------------------------------  ---------------------------------------- 
 b)    Nature of transaction                       Grant of options under the Retention 
                                                    Plan 
      ------------------------------------------  ---------------------------------------- 
 c)    Price(s) and volume(s)                      Price(s)            Volume(s) 
      ------------------------------------------  ------------------  -------------------- 
   Nil                                                                 17073 
  ------------------------------------------------------------------  -------------------- 
 d)    Aggregated information 
      ------------------------------------------------------------------------------------ 
  Aggregated volume                           NA 
 ------------------------------------------  --------------------------------------------- 
  Price                                       NA 
 ------------------------------------------  --------------------------------------------- 
 e)    Date of transaction                         20/08/2020 
      ------------------------------------------  ---------------------------------------- 
 f)    Place of transaction                        Outside a trading venue 
      ------------------------------------------  ---------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibility 
        / person closely associated 
 a)     Name                                        Susan Hurst 
      ------------------------------------------  ---------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------------------ 
 a)    Position/status                             Chief Financial Officer, Tekmar 
                                                    Group plc 
      ------------------------------------------  ---------------------------------------- 
 b)    Initial notification/amendment              Initial Notification 
      ------------------------------------------  ---------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------------ 
 a)    Name                                         Tekmar Group plc 
      ------------------------------------------  ---------------------------------------- 
 b)    LEI                                         213800839UQKQTV33E71 
      ------------------------------------------  ---------------------------------------- 
 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                Ordinary shares of 0.01p each 
        instrument, type of 
        instrument 
      ------------------------------------------  ---------------------------------------- 
       Identification code                         GB00BDFGGK53 
      ------------------------------------------  ---------------------------------------- 
 b)    Nature of transaction                       Grant of options under the Retention 
                                                    Plan 
      ------------------------------------------  ---------------------------------------- 
 c)    Price(s) and volume(s)                      Price(s)            Volume(s) 
      ------------------------------------------  ------------------  -------------------- 
   Nil                                                                 43042 
  ------------------------------------------------------------------  -------------------- 
 d)    Aggregated information 
      ------------------------------------------------------------------------------------ 
  Aggregated volume                           NA 
 ------------------------------------------  --------------------------------------------- 
  Price                                       NA 
 ------------------------------------------  --------------------------------------------- 
 e)    Date of transaction                         20/08/2020 
      ------------------------------------------  ---------------------------------------- 
 f)    Place of transaction                        Outside a trading venue 
      ------------------------------------------  ---------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibility 
        / person closely associated 
 a)     Name                                        Russell Edmondson 
      ------------------------------------------  ---------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------------------ 
 a)    Position/status                             Managing Director, Tekmar Energy 
                                                    Limited 
      ------------------------------------------  ---------------------------------------- 
 b)    Initial notification/amendment              Initial Notification 
      ------------------------------------------  ---------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------------ 
 a)    Name                                         Tekmar Group plc 
      ------------------------------------------  ---------------------------------------- 
 b)    LEI                                         213800839UQKQTV33E71 
      ------------------------------------------  ---------------------------------------- 
 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                Ordinary shares of 0.01p each 
        instrument, type of 
        instrument 
      ------------------------------------------  ---------------------------------------- 
       Identification code                         GB00BDFGGK53 
      ------------------------------------------  ---------------------------------------- 
 b)    Nature of transaction                       Grant of options under the Retention 
                                                    Plan 
      ------------------------------------------  ---------------------------------------- 
 c)    Price(s) and volume(s)                      Price(s)            Volume(s) 
      ------------------------------------------  ------------------  -------------------- 
   Nil                                                                 43042 
  ------------------------------------------------------------------  -------------------- 
 d)    Aggregated information 
      ------------------------------------------------------------------------------------ 
  Aggregated volume                           NA 
 ------------------------------------------  --------------------------------------------- 
  Price                                       NA 
 ------------------------------------------  --------------------------------------------- 
 e)    Date of transaction                         20/08/2020 
      ------------------------------------------  ---------------------------------------- 
 f)    Place of transaction                        Outside a trading venue 
      ------------------------------------------  ---------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibility 
        / person closely associated 
 a)     Name                                        Jack Simpson 
      ------------------------------------------  ----------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------------------- 
 a)    Position/status                             Sales Director, Tekmar Energy Limited 
      ------------------------------------------  ----------------------------------------- 
 b)    Initial notification/amendment              Initial Notification 
      ------------------------------------------  ----------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------------- 
 a)    Name                                         Tekmar Group plc 
      ------------------------------------------  ----------------------------------------- 
 b)    LEI                                         213800839UQKQTV33E71 
      ------------------------------------------  ----------------------------------------- 
 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                Ordinary shares of 0.01p each 
        instrument, type of 
        instrument 
      ------------------------------------------  ----------------------------------------- 
       Identification code                         GB00BDFGGK53 
      ------------------------------------------  ----------------------------------------- 
 b)    Nature of transaction                       Grant of options under the Retention 
                                                    Plan 
      ------------------------------------------  ----------------------------------------- 
 c)    Price(s) and volume(s)                      Price(s)             Volume(s) 
      ------------------------------------------  -------------------  -------------------- 
   Nil                                                                  53802 
  -------------------------------------------------------------------  -------------------- 
 d)    Aggregated information 
      ------------------------------------------------------------------------------------- 
  Aggregated volume                           NA 
 ------------------------------------------  ---------------------------------------------- 
  Price                                       NA 
 ------------------------------------------  ---------------------------------------------- 
 e)    Date of transaction                         20/08/2020 
      ------------------------------------------  ----------------------------------------- 
 f)    Place of transaction                        Outside a trading venue 
      ------------------------------------------  ----------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibility 
        / person closely associated 
 a)     Name                                        Steven Rossiter 
      ------------------------------------------  ---------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------------------ 
 a)    Position/status                             Chief Technology Officer, Tekmar 
                                                    Group plc 
      ------------------------------------------  ---------------------------------------- 
 b)    Initial notification/amendment              Initial Notification 
      ------------------------------------------  ---------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------------ 
 a)    Name                                         Tekmar Group plc 
      ------------------------------------------  ---------------------------------------- 
 b)    LEI                                         213800839UQKQTV33E71 
      ------------------------------------------  ---------------------------------------- 
 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                Ordinary shares of 0.01p each 
        instrument, type of 
        instrument 
      ------------------------------------------  ---------------------------------------- 
       Identification code                         GB00BDFGGK53 
      ------------------------------------------  ---------------------------------------- 
 b)    Nature of transaction                       Grant of options under the Retention 
                                                    Plan 
      ------------------------------------------  ---------------------------------------- 
 c)    Price(s) and volume(s)                      Price(s)            Volume(s) 
      ------------------------------------------  ------------------  -------------------- 
   Nil                                                                 32281 
  ------------------------------------------------------------------  -------------------- 
 d)    Aggregated information 
      ------------------------------------------------------------------------------------ 
  Aggregated volume                           NA 
 ------------------------------------------  --------------------------------------------- 
  Price                                       NA 
 ------------------------------------------  --------------------------------------------- 
 e)    Date of transaction                         20/08/2020 
      ------------------------------------------  ---------------------------------------- 
 f)    Place of transaction                        Outside a trading venue 
      ------------------------------------------  ---------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibility 
        / person closely associated 
 a)     Name                                       David Thompson 
      ------------------------------------------  ---------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------------------ 
 a)    Position/status                             Managing Director, Subsea Innovation 
                                                    Limited 
      ------------------------------------------  ---------------------------------------- 
 b)    Initial notification/amendment              Initial Notification 
      ------------------------------------------  ---------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------------ 
 a)    Name                                         Tekmar Group plc 
      ------------------------------------------  ---------------------------------------- 
 b)    LEI                                         213800839UQKQTV33E71 
      ------------------------------------------  ---------------------------------------- 
 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                Ordinary shares of 0.01p each 
        instrument, type of 
        instrument 
      ------------------------------------------  ---------------------------------------- 
       Identification code                         GB00BDFGGK53 
      ------------------------------------------  ---------------------------------------- 
 b)    Nature of transaction                       Grant of options under the Retention 
                                                    Plan 
      ------------------------------------------  ---------------------------------------- 
 c)    Price(s) and volume(s)                      Price(s)            Volume(s) 
      ------------------------------------------  ------------------  -------------------- 
   Nil                                                                 10760 
  ------------------------------------------------------------------  -------------------- 
 d)    Aggregated information 
      ------------------------------------------------------------------------------------ 
  Aggregated volume                           NA 
 ------------------------------------------  --------------------------------------------- 
  Price                                       NA 
 ------------------------------------------  --------------------------------------------- 
 e)    Date of transaction                         20/08/2020 
      ------------------------------------------  ---------------------------------------- 
 f)    Place of transaction                        Outside a trading venue 
      ------------------------------------------  ---------------------------------------- 
 

Enquiries:

 
Tekmar Group plc 
 Ally MacDonald, Executive Chairman 
 Sue Hurst, Chief Financial Officer                 +44 (0)1325 379 520 
Grant Thornton UK LLP (Nominated Adviser) 
 Philip Secrett / Jen Clarke                        +44 (0)20 7383 5100 
Berenberg (Broker) 
 Chris Bowman / Ben Wright / Richard Salmond        +44 (0)20 3207 7800 
Belvedere Communications (Financial PR)        TekmarPR@belvederepr.com 
 Cat Valentine                                     +44 (0) 7715 769 078 
 Keeley Clarke                                     +44 (0) 7967 816 525 
 

About Tekmar Group plc - www.tekmargroup.com

Tekmar Group plc's vision is to be the leading provider of technology and services for the global offshore energy markets. The Group has five primary operating companies; these are Tekmar Energy Limited, Subsea Innovation Limited, AgileTek Engineering Limited, Ryder Geotechnical Limited and Pipeshield International limited.

Tekmar Energy is a global market leader in protection systems for subsea cable, umbilical and flexible pipe. Tekmar Energy has been trusted to protect billions of Euros worth of assets in the offshore wind, oil & gas, wave, tidal and interconnector markets since 1985.

Subsea Innovation is a global leader in the design, manufacture and supply of complex engineered equipment and technology used in the offshore energy market. Its products include large equipment handling systems which operate on the back of pipelay installation vessels; emergency pipeline repair clamps (EPRC) which protect major oil and gas pipelines, and bespoke equipment for use in the construction of offshore energy projects.

AgileTek Engineering is an award-winning subsea engineering consultancy for offshore energy projects. AgileTek helps its clients de-risk projects through advanced computer simulation and analysis. AgileDat, a division of AgileTek, provides software development, cloud architecture and data analytics services.

Ryder Geotechnical provides expert geotechnical design and consulting services to the offshore wind and subsea oil and gas sectors. Services include offshore structure foundation design, geohazard assessment and subsea cable routing and burial assessment.

Pipeshield International is a market leading provider of specialised subsea protection solutions in the form of concrete mattresses used for the stabilisation and impact protection of subsea equipment in areas where they cannot be buried and further to limit the development of scour (seabed erosion) particularly local to that of a foundation, pipeline or in marine ports.

Tekmar Energy and Tekmar Group plc are headquartered in Newton Aycliffe in the United Kingdom; AgileTek operates from an office in London; Subsea Innovation has its head office and manufacturing centre in Darlington, United Kingdom. Ryder operates in Newcastle and within AgileTek London, Pipeshield headquarters are in Lowestoft with manufacturing in Blyth. Tekmar Group plc also has strategic bases and representation across Europe, Africa, the Middle East and Asia Pacific.

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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August 21, 2020 02:00 ET (06:00 GMT)

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