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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
  0.00 0.0% 75.00 70.00 80.00 75.00 75.00 75.00 136,946 06:41:55
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil Equipment Services & Distribution 40.9 2.0 3.9 19.5 38

Tekmar Group PLC Grant of options under LTIP scheme

05/08/2020 3:50pm

UK Regulatory (RNS & others)


Tekmar (LSE:TGP)
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RNS Number : 2716V

Tekmar Group PLC

05 August 2020

5 August 2020

Tekmar Group plc

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

Grant of options under LTIP scheme

Tekmar Group plc, a market-leading technology provider of subsea protection systems, announces that the Group's Remuneration Committee has approved three Long Term Incentive Plans ("LTIPs") to incentivise and reward management for growth in the Group's financial performance achieved in each of the next three years, ending 31 March 2023. Management have been granted awards for up to 1,294,010 ordinary shares, representing 2.5% of the Company's issued share capital. This is made up of three LTIPs with the following awards in each year:

 
              Ordinary shares 
 FY21 LTIP            391,108 
 FY22 LTIP            446,980 
 FY23 LTIP            455,922 
 

The following Persons Discharging Managerial Responsibility ("PDMRs") have been granted options, covering the three years to 31 March 2023:

 
 Name               Position                   Number of     Total number   Total interest   Total interest 
                                           LTIPs options       of options      in Ordinary      in Ordinary 
                                                 granted    over Ordinary     Shares (No.)       Shares (%) 
                                                                   Shares 
                    Chief Financial 
                     Officer 
                     Tekmar Group 
 Susan Hurst         plc                         360,750          448,250          276,569            0.54% 
                    Managing 
                     Director 
 Russell             Tekmar Energy 
  Edmondson          Ltd                         182,112          235,048          197,686            0.39% 
                    Sales Director 
                     Tekmar Energy 
 Jack Simpson        Limited                     144,172          175,422          195,009            0.38% 
                    Chief Technology 
                     Officer 
                     Tekmar Group 
 Steven Rossiter     plc                         151,760          183,010          102,564            0.20% 
                    Managing 
                     Director 
                     AgileTek 
                     Engineering 
 Fraser Gibson       Limited                     136,585          149,597                0                0 
                    Managing 
                     Director 
                     Subsea Innovation 
 David Thompson      Limited                     182,112          207,112                0                0 
 

Performance Conditions

Vesting of the options are subject to certain performance criteria which will be measured inter alia in relation to targeted earnings per share and total shareholder return.

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                                        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 LTIP 
                                                    Schemes 
      ------------------------------------------  ----------------------------------- 
 c)    Price(s) and volume(s)                      Price(s)          Volume(s) 
      ------------------------------------------  ----------------  ----------------- 
   Nil                                                               360750 
  ----------------------------------------------------------------  ----------------- 
 d)    Aggregated information 
      ------------------------------------------------------------------------------- 
  Aggregated volume                           NA 
 ------------------------------------------  ---------------------------------------- 
  Price                                       NA 
 ------------------------------------------  ---------------------------------------- 
 e)    Date of transaction                         03/08/2020 
      ------------------------------------------  ----------------------------------- 
 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 LTIP 
                                                    Schemes 
      ------------------------------------------  ------------------------------------ 
 c)    Price(s) and volume(s)                      Price(s)           Volume(s) 
      ------------------------------------------  -----------------  ----------------- 
   Nil                                                                182112 
  -----------------------------------------------------------------  ----------------- 
 d)    Aggregated information 
      -------------------------------------------------------------------------------- 
  Aggregated volume                           NA 
 ------------------------------------------  ----------------------------------------- 
  Price                                       NA 
 ------------------------------------------  ----------------------------------------- 
 e)    Date of transaction                         03/08/2020 
      ------------------------------------------  ------------------------------------ 
 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 LTIP 
                                                    Schemes 
      ------------------------------------------  ----------------------------------------- 
 c)    Price(s) and volume(s)                      Price(s)             Volume(s) 
      ------------------------------------------  -------------------  -------------------- 
   Nil                                                                  144172 
  -------------------------------------------------------------------  -------------------- 
 d)    Aggregated information 
      ------------------------------------------------------------------------------------- 
  Aggregated volume                           NA 
 ------------------------------------------  ---------------------------------------------- 
  Price                                       NA 
 ------------------------------------------  ---------------------------------------------- 
 e)    Date of transaction                         03/08/2020 
      ------------------------------------------  ----------------------------------------- 
 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 LTIP 
                                                    Schemes 
      ------------------------------------------  ------------------------------------ 
 c)    Price(s) and volume(s)                      Price(s)           Volume(s) 
      ------------------------------------------  -----------------  ----------------- 
   Nil                                                                151760 
  -----------------------------------------------------------------  ----------------- 
 d)    Aggregated information 
      -------------------------------------------------------------------------------- 
  Aggregated volume                           NA 
 ------------------------------------------  ----------------------------------------- 
  Price                                       NA 
 ------------------------------------------  ----------------------------------------- 
 e)    Date of transaction                         03/08/2020 
      ------------------------------------------  ------------------------------------ 
 f)    Place of transaction                        Outside a trading venue 
      ------------------------------------------  ------------------------------------ 
 
 
 1     Details of the person discharging managerial responsibility 
        / person closely associated 
 a)     Name                                       Fraser Gibson 
      ------------------------------------------  ------------------------------------------- 
 2     Reason for the notification 
      --------------------------------------------------------------------------------------- 
 a)    Position/status                             Managing Director, AgileTek Engineering 
                                                    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 LTIP 
                                                    Schemes 
      ------------------------------------------  ------------------------------------------- 
 c)    Price(s) and volume(s)                      Price(s)              Volume(s) 
      ------------------------------------------  --------------------  --------------------- 
   Nil                                                                   136585 
  --------------------------------------------------------------------  --------------------- 
 d)    Aggregated information 
      --------------------------------------------------------------------------------------- 
  Aggregated volume                           NA 
 ------------------------------------------  ------------------------------------------------ 
  Price                                       NA 
 ------------------------------------------  ------------------------------------------------ 
 e)    Date of transaction                         03/08/2020 
      ------------------------------------------  ------------------------------------------- 
 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 LTIP 
                                                    Schemes 
      ------------------------------------------  ---------------------------------------- 
 c)    Price(s) and volume(s)                      Price(s)            Volume(s) 
      ------------------------------------------  ------------------  -------------------- 
   Nil                                                                 182112 
  ------------------------------------------------------------------  -------------------- 
 d)    Aggregated information 
      ------------------------------------------------------------------------------------ 
  Aggregated volume                           NA 
 ------------------------------------------  --------------------------------------------- 
  Price                                       NA 
 ------------------------------------------  --------------------------------------------- 
 e)    Date of transaction                         03/08/2020 
      ------------------------------------------  ---------------------------------------- 
 f)    Place of transaction                        Outside a trading venue 
      ------------------------------------------  ---------------------------------------- 
 

Enquiries:

 
Tekmar Group plc 
 James Ritchie-Bland, Chief Executive Officer 
 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 partner of choice for the supply and installation support of subsea protection equipment to 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 have 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 is headquartered in Newton Aycliffe in the United Kingdom; AgileTek operates from an office in London; Subsea Innovation have their head office and manufacturing centre in Darlington, United Kingdom. Ryder operate in Newcastle and within AgileTek London, Pipeshield headquarters are in Lowestoft with manufacturing in Blyth. Tekmar Group plc also has representation in South Korea, USA, China and the Middle East.

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 05, 2020 10:50 ET (14:50 GMT)

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