Enteq Technologies plc
(the "Company" or the "Group")
Awards under the Enteq Technologies plc Performance Share Plan ("PSP")
Enteq Technologies plc announces that its Remuneration Committee approved a further grant of awards under the Performance Share Plan ("PSP"). This grant came into effect on 8 July 2022 and combined with the on-going all employee share option scheme already in existence, is within the overall limits already approved by the Company's shareholders.
This further grant has a vesting date of 8 July 2025. The performance conditions relate equally to the achievement of both a cumulative adjusted EBITDA target and a total shareholder return growth target. These targets are set and monitored by the Remuneration Committee. The consideration payable for these awards on exercise is 1 pence per ordinary share. Under the terms of the PSP these awards are subject to claw back and malus provisions, and no holding period.
Andrew Law (CEO) was granted, subject to the performance conditions and rules of the scheme, PSP options over 775,862 Ordinary Shares, taking his total outstanding grants under the PSP scheme to options over 2,265,961 Ordinary Shares.
David Steel (CFO) was granted, subject to the performance conditions and rules of the scheme, PSP options over 639,310 Ordinary Shares, taking his total outstanding grants under the PSP scheme to options over 1,654,897 Ordinary Shares.
Neil Bird (Product Director) who is not on the Board but considered a Person Discharging Managerial Responsibilities, was granted, subject to the performance conditions and rules of the scheme, PSP options over 293,103 Ordinary Shares, taking his total outstanding grants under the PSP scheme to options over 498,335 Ordinary Shares.
Suki Gill (VP Business Development & MWD Division) who is not on the Board but considered a Person Discharging Managerial Responsibilities, was granted, subject to the performance conditions and rules of the scheme, PSP options over 237,931 Ordinary Shares, taking her total outstanding grants under the PSP scheme to options over 237,931 Ordinary Shares.
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1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Andrew Law | ||||
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 | Enteq Technologies | ||||
| b) | LEI | 2138006BKS2MOAPRUB75 | ||||
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 Identification code | Options over ordinary shares of 1 pence each
GB00B41Q8Q68 | ||||
| b) | Nature of the transaction | Issue of options | ||||
| c) | Price(s) and volume(s)
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| ||||
| d) | Aggregated information | Not applicable - single transaction | ||||
| e) | Date of the transaction | 8 July 2022 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | David Steel | ||||
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 | Enteq Technologies | ||||
| b) | LEI | 2138006BKS2MOAPRUB75 | ||||
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 Identification code | Options over ordinary shares of 1 pence each
GB00B41Q8Q68 | ||||
| b) | Nature of the transaction | Issue of options | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information | Not applicable - single transaction | ||||
| e) | Date of the transaction | 8 July 2022 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Neil Bird | ||||
2. | Reason for the notification | |||||
| a) | Position/status | Product Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Enteq Technologies | ||||
| b) | LEI | 2138006BKS2MOAPRUB75 | ||||
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 Identification code | Options over ordinary shares of 1 pence each
GB00B41Q8Q68 | ||||
| b) | Nature of the transaction | Issue of options | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information | Not applicable - single transaction | ||||
| e) | Date of the transaction | 8 July 2022 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Suki Gill | ||||
2. | Reason for the notification | |||||
| a) | Position/status | VP Business Development & MWD Division | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Enteq Technologies | ||||
| b) | LEI | 2138006BKS2MOAPRUB75 | ||||
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 Identification code | Options over ordinary shares of 1 pence each
GB00B41Q8Q68 | ||||
| b) | Nature of the transaction | Issue of options | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information | Not applicable - single transaction | ||||
| e) | Date of the transaction | 8 July 2022 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
For further information, please contact:
Enteq Technologies plc +44 (0)1494 618739
Andrew Law, Chief Executive Officer
David Steel, Chief Financial Officer
finnCap Ltd (NOMAD and Broker) +44 (0)20 7220 0500
Ed Frisby, Emily Watts, Tim Harper (Corporate Finance)
Andrew Burdis, Barney Hayward (ECM)
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