16 September 2022
essensys plc
("essensys" or the "Group")
Grant of Options
essensys plc, the leading global provider of mission-critical software and technology to the flexible workspace industry, announces that its has granted options over a total of 1,031,287 options under the Group's existing Long-Term Incentive Plan (the "LTIP") to certain members of its executive management team as follows:
| Name | Position | Number of Options |
| Alan Pepper | Chief Operating Officer | 204,636 |
| Sarah Harvey | Chief Financial Officer | 366,667 |
| Jeremy Bernard | CEO, North America | 120,000 |
| James Lowery | CEO, UK & Europe | 120,000 |
| David Kinnaird | Chief Customer Officer | 104,876 |
| James Shannon | Chief Product & Technology Officer | 115,108 |
These grants are all subject to performance conditions, have an exercise price of 0.25 pence per share and will, depending on the individual concerned, become exerciseable between November 2023 and November 2025.
Mark Furness, Chief Executive Officer of the Group, has waived his entitlement to the planned option grant set out in the Group's Annual Report for the year ended 31 July 2021 and, in order to minimise dilution of existing shareholders' positions, has indicated that he will waive any entitlement to option grants for the foreseeable future.
In respect of Alan Pepper this grant replaces the previously reported planned grant as was set out in the Remuneration Committee Report included within the Group's Annual Report for the year ended 31 July 2021. Sarah Harvey's grant is in relation to her commencement of employment as the Group's Chief Financial Officer.
At the same time the Remuneration Committee has agreed to extend the vesting period for LTIP options with performance conditions issued on 28 May 2019 (immediately prior to the Group's IPO and as set out in the Group's Admission Document) to 28 May 2024. This is intended to ensure that the optionholders' interests in the improvement in the Group's share price remain aligned to those of our shareholders.
Following these grants, the Group has a total of 4,375,163 share options outstanding, representing 6.8% of the existing issued share capital of the Group.
For further information, please contact:
| essensys plc | +44 (0)20 3102 5252 |
| Mark Furness (Chief Executive Officer) | |
| Singer Capital Markets (nominated adviser and broker) | +44 (0)20 7496 3000 |
| Peter Steel / Harry Gooden / George Tzimas | |
| FTI Consulting (public relations adviser) | +44 (0)20 3727 1000 |
| Jamie Ricketts / Eve Kirmatzis / Talia Jessener / Victoria Caton | |
About essensys plc
essensys is the leading global provider of mission-critical SaaS platforms and on-demand cloud services to the high growth flexible workspace industry. essensys' software is specifically designed and developed to help solve the complex operational challenges faced by multi-site flexible workspace operators as they grow and scale their operations. The Group's technology allows operators to deliver a range of differentiated, flexible and customer-specific services to a broad base of tenants across multiple locations and helps operators to manage the cost, operational and technological challenges they typically encounter.
The essensys Platform addresses these complex operational challenges, and reduces costs by simplifying the day-to-day management of flexible workspaces and the provision of on-demand IT, technology and infrastructure services to tenants. essensys' platforms automate key tasks and processes and help flexible workspace providers deliver highly efficient, customer-centric workspace solutions and member experiences with enterprise class services.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name
| 1. Alan Pepper 2. Sarah Harvey 3. Jeremy Bernard 4. James Lowery 5. David Kinnaird 6. James Shannon | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| 1. Chief Operating Officer 2. Chief Financial Officer 3. CEO, North America 4. CEO, UK & Europe 5. Chief Customer Officer 6. Chief Product & Technology Officer | |||
| b)
| Initial notification /Amendment
| Initial notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| essensys PLC | |||
| b)
| LEI
| 2138002MSI4WKYNOBS73 | |||
| 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 | Options over ordinary shares | |||
| | | ||||
| Identification code | GB00BJL1ZF49 | ||||
| | | ||||
| b)
| Nature of the transaction
| Grant of options | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | 0.25 pence | 1. 204,636 2. 366,667 3. 120,000 4. 120,000 5. 104,876 6. 115,108 | | |
| | | | | | |
| d)
| Aggregated information | N/A | |||
| | | ||||
| - Aggregated volume | | ||||
| | | ||||
| - Price | | ||||
| | | ||||
| e)
| Date of the transaction
| 15 September 2022 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
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