16 January 2023

NETCALL PLC

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

Extension of Long Term Incentive Plan for Senior Management

Netcall plc (AIM: NET), a leading customer engagement software provider, announces that it has extended the term of its current long term incentive plan ("LTIP") for certain directors of the Company ("Directors").  

As announced on 30 April 2014 and 19 November 2020, the Company awarded an LTIP to the Directors under the Company's 2013 Long Term Incentive Plan ("2013 LTIP").  Share options under the 2013 LTIP were granted at an exercise price of 5 pence. The vesting of options under the 2013 LTIP are conditional on achievement of certain share price hurdles based on the average share price over 40 business days up to a maximum share price of £1.20. The options have a vesting measurement date to 30 April 2023 and expire on 29 April 2024.

The following summarises the current position of the 2013 LTIP options:

The Directors' have no other share options other than the 2013 LTIP options as summarised above. Accordingly, given the April 2023 measurement date for the 2013 LTIP the remuneration committee have been considering ongoing incentive arrangements for the Directors. Given Michael Jackson's interest in the 2013 LTIP options, Mr Jackson has recused himself from the remuneration committee's consideration on incentive arrangements in relation to himself.

The non-executive directors, namely Mike Neville and Tamer Ozmen, believe that a short extension of the measurement date of the 2013 LTIP, rather than the introduction of a new LTIP, is appropriate for the Company. Accordingly, the remuneration committee believe that this provides appropriate targets to ensure that the Directors continue to be incentivised to drive shareholder returns. 

The Company has agreed to extend the vesting measurement date by one year to 29 April 2024 to align with the expiry date of the 2013 LTIP options to 29 April 2024. All other provisions under the above 2013 LTIP options remain unchanged.

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About Netcall

Netcall's Liberty software platform with Intelligent Automation and Customer Engagement solutions helps organisations digitally transform their businesses faster and more efficiently, empowering them to create a leaner, more customer-centric organisation.

Netcall's customers span enterprise, healthcare and government sectors. These include two-thirds of the NHS Acute Health Trusts and leading corporates including Legal and General, Lloyds Banking Group, Aon and Santander Bank.

For further information, please go to www.netcall.com.