Tracsis PLC Directorate Change (6415X)

TIDMTRCS

RNS Number : 6415X

Tracsis PLC

01 May 2019

1 May 2019

Tracsis plc

("Tracsis" or the "Group")

Directorate change, award of share options and PDMR Dealing

Tracsis, a leading provider of software and services for the rail, traffic data and wider transport industries, confirms that further to the announcement dated 7 January 2019, Chris Barnes has today been appointed as Chief Executive Officer of the Group. Accordingly, John McArthur has today stepped down from the Board and will continue to work with Tracsis in a part-time capacity focussing on M&A.

In connection with Chris's appointment as a Director of the Group, the Remuneration Committee has agreed a share option award to compensate Chris for unvested incentives forfeited from his previous employer on joining Tracsis. As such, Chris was awarded 21,417 share options in Tracsis plc with an exercise price of 0.4p, that can be exercised on or after 4 February 2022 being three years since Chris joined the Group. Chris will also join the Group's Long-Term Incentive Plan (LTIP) on commencement of the new financial year.

Chris Cole, Non-Executive Chairman commented:

"I would like to pay tribute to John for his significant contribution and his achievements for Tracsis and we wish him all the best for the future. I am pleased to welcome Chris Barnes to succeed John who has great sector experience, and his ambition and credentials will be a strong asset to Tracsis for our next phase of growth."

John McArthur commented:

"It has been my privilege and passion to lead Tracsis over the past 15 years during which time the Group has grown and matured into the successful technology and services business we see today. My transition from CEO is a natural evolution for the Group and I am pleased to be handing the baton onto Chris at a time when our business is in great shape for the future. I wish to thank the entire Tracsis team for making my journey as CEO so enjoyable and I wish you all every success for the future."

Chris Barnes, Chief Executive Officer commented:

"Firstly, I would like to thank John for his enormous contribution to the Tracsis business which he founded in 2004. I'm delighted to have been appointed as John's replacement as CEO of the Tracsis Group and I'm excited to have the opportunity to lead the next phase of both organic and acquisitive growth for this technology led business. The Tracsis Group is well positioned for the future, has an industry leading software, hardware and consultancy product offering, a great team of people, a blue chip client base and operates across industrial sectors that are seeing significant growth and transformational change all of which will continue to drive strong future demand for our products and services."

The following information is disclosed in relation to Christopher Matthew Barnes, age 44, pursuant to Schedule Two paragraph (g) and Rule 17 of the AIM Rules for Companies:

Current Directorships / Partnerships:

   --     None 

Previous Directorships / Partnerships (held in the past five years)

   --     Ricardo UK Limited 
   --     Ricardo EMEA Limited 
   --     Ricardo Certification Limited 
   --     Ricardo Rail Limited 

As at 1 May 2019, Chris Barnes has beneficial interests of 21,417 Options over Ordinary Shares in the Company. Outside of these Share Options, Chris Barnes has no other beneficial interest in the equity securities of Tracsis plc.

 
 1.   Details of the Person discharging managerial responsibilities 
       ("PDMR") / person closely associated with them ("PCA") 
 a)   Name                            Christopher Matthew Barnes 
     ------------------------------  ------------------------------------- 
 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                            Tracsis PLC 
     ------------------------------  ------------------------------------- 
 b)   Legal Entity Identifier         2138005I15G3HBN2WD92 
     ------------------------------  ------------------------------------- 
 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              Options over Ordinary Shares 
       financial instrument            GB00B28HSF71 
     ------------------------------  ------------------------------------- 
 b)   Nature of the transaction       Issue of options over Ordinary 
                                       Shares 
     ------------------------------  ------------------------------------- 
 c)   Price(s) and volume(s)           Price(s)   Volume(s) 
                                        0.4p       21,417 
                                                  ---------- 
     ------------------------------  ------------------------------------- 
 d)        Aggregated information     Single transaction per 4 c) 
             *    Aggregated volume    21,417 options over Ordinary Shares 
                                       0.4p 
 
             *    Aggregated price 
     ------------------------------  ------------------------------------- 
 e)   Date of the transaction(s)      30 April 2019 
     ------------------------------  ------------------------------------- 
 f)   Place of the transaction        London Stock Exchange, AIM 
     ------------------------------  ------------------------------------- 
 

Enquiries:

Tracsis plc

Tel: [phone]

Chris Barnes, CEO

Max Cawthra, CFO

finnCap Ltd

Tel: [phone]

Christopher Raggett/Scott Mathieson, Corporate Finance

Andrew Burdis, Corporate Broking

The information communicated in this announcement is inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

Notes to editors:

--The Group specialises in solving a variety of data capture, reporting and resource optimisation problems along with the provision of a range of associated professional services.

--Tracsis' products and services are used to increase efficiency, reduce cost and improve the operational performance and decision making capabilities for clients and customers.

--The Company offers the following services:

- Rail Technology & Services: Software and technology led consulting, and remote condition monitoring: Industry strength software that covers a variety of asset classes working alongside consulting and related professional services across the operational and strategic planning horizon, plus technology and reporting for critical infrastructure assets in real time, to identify problems and aid with preventative maintenance.

- Traffic & Data Services: Collation, analytical services, and event management within traffic and pedestrian rich environments. The business provides technology and data that is instrumental in the development of 21(st) century intelligent transport systems and smart cities.

--Tracsis has a blue chip client base which includes all major UK transport owning Groups. The business also works extensively with Network Rail, the Department of Transport, TfL, multiple local authorities, major outdoor music and sporting events, and a wide variety of large engineering and infrastructure companies.

--The business drives growth both organically and through acquisition and has made thirteen acquisitions since 2008.

--For more information on Tracsis please visit http://www.tracsis.com

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 [e-mail] or visit www.rns.com.

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May 01, 2019 02:10 ET (06:10 GMT)