REG - Eleco PLC - Grant of Options

ElecoAnnouncement

06/06/2024 07:00

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RNS Number : 3098R  Eleco PLC  06 June 2024

6 June 2024

Eleco Plc

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

 

Grant of Options

 

Eleco plc (AIM: ELCO), the specialist software provider for the built
environment, announces that on 5 June 2024 the Board of Eleco, following the
recommendation from the Remuneration Committee, granted a total of 500,000 new
share options (the "Options") over ordinary shares of 1 pence each ("Ordinary
Shares") in the Company to certain directors and PDMRs.

Following this grant of Options, Eleco has 4,005,000 options in issue,
representing approximately 4.81 per cent. of the Company's issued share
capital.

250,000 Options were granted to Jonathan Hunter, CEO, and 200,000 Options were
granted to Neil Pritchard, CFO. All of these Options are nominal cost options
that shall vest after 3 years if certain performance criteria related to
growth in revenue, profit and share price are met. To fully vest, Eleco will
need to deliver significant growth from current levels.

The remaining 50,000 Options were granted to Mark Chapman, PDMR, and are
market priced options with no vesting criteria other than to remain in
employment by the Group and shall vest after 3 years. These Options are
exercisable at 117 pence.

 Director/PDMR    Options issued on 5 June 2024  Total options held post issue
 Jonathan Hunter  250,000                        1,225,000
 Neil Pritchard   200,000                        475,000
 Mark Chapman     50,000                         110,000

 

The Options are issued under the Eleco 2014 Share Option Plan and are
exercisable up to 5 June 2034, subject to the achievement of the appropriate
performance criteria.

 

Enquiries:

 

 Eleco plc                                                      +44 (0)20 7422 8000
 Jonathan Hunter, Chief Executive Officer
 Neil Pritchard, Chief Financial Officer

 Cavendish Capital Markets Limited                              +44 (0)20 7220 0500
 Geoff Nash / Emily Watts / Seamus Fricker (Corporate Finance)
 Louise Talbot / Tim Redfern / Harriet Ward (ECM)

 

About Eleco plc

Eleco plc is an AIM-listed (AIM: ELCO) specialist international provider of
software and related services to the built environment through its operating
brands Elecosoft, BestOutcome, Vertical Digital and Veeuze from centres of
excellence in the UK, Sweden, Germany, the Netherlands, Romania and the USA.

The Company's software solutions are trusted by international customers and
used throughout the building lifecycle from early planning and design stages
to construction, interior fit out, asset management and facilities management
to support project management, estimation, visualisation, Building Information
Modelling (BIM) and property management.

For further information please visit www.eleco.com (http://www.eleco.com) .

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 1.  Details of PDMR / person closely associated with them ('PCA')
 a)  Name                                                         Jonathan Hunter

 2.  Reason for the Notification
 a)  Position / status                                            Chief Executive Officer
 b)  Initial notification /amendment                              Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Eleco plc
 b)  LEI                                                          21380016GT9Z6ZQX4T37
 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 instrument, type of instrument  Ordinary shares of 1p each
     Identification code                                          GB0003081246
 b)  Nature of the transaction                                    Grant of options
 c)  Price(s) and volume(s)                                       Price(s)                   Volume(s)
                                                                  Exercise price of 1p       250,000
 d)  Aggregated information:

     Aggregated volume                                            n/a

     Price
 e)  Date of the transaction                                      5 June 2024
 f)  Place of the transaction                                     Outside of a trading venue

 

 1.  Details of PDMR / person closely associated with them ('PCA')
 a)  Name                                                         Neil Pritchard

 2.  Reason for the Notification
 a)  Position / status                                            Chief Financial Officer
 b)  Initial notification /amendment                              Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Eleco plc
 b)  LEI                                                          21380016GT9Z6ZQX4T37
 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 instrument, type of instrument  Ordinary shares of 1p each
     Identification code                                          GB0003081246
 b)  Nature of the transaction                                    Grant of options
 c)  Price(s) and volume(s)                                       Price(s)                   Volume(s)
                                                                  Exercise price of 1p       200,000
 d)  Aggregated information:

     Aggregated volume                                            n/a

     Price
 e)  Date of the transaction                                      5 June 2024
 f)  Place of the transaction                                     Outside of a trading venue

 

 1.  Details of PDMR / person closely associated with them ('PCA')
 a)  Name                                                         Mark Chapman

 2.  Reason for the Notification
 a)  Position / status                                            Head of Innovation / PDMR
 b)  Initial notification /amendment                              Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Eleco plc
 b)  LEI                                                          21380016GT9Z6ZQX4T37
 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 instrument, type of instrument  Ordinary shares of 1p each
     Identification code                                          GB0003081246
 b)  Nature of the transaction                                    Grant of options
 c)  Price(s) and volume(s)                                       Price(s)                   Volume(s)
                                                                  Exercise price of 117p     50,000
 d)  Aggregated information:

     Aggregated volume                                            n/a

     Price
 e)  Date of the transaction                                      5 June 2024
 f)  Place of the transaction                                     Outside of a trading venue

 

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