RNS Number : 8080S
Synectics PLC
14 March 2023
 

 

 

RNS

 

 

 

 

 

14 March 2023

 

 

Synectics plc

("Synectics" or the "Company")

 

PDMRs' Interests in Shares

 

Synectics plc (AIM: SNX), a leader in the design, integration and support of advanced security and surveillance systems, announces that it has made an award of options ("Options") over in aggregate 80,000 ordinary shares of 20p each in the Company ("Ordinary Shares") under its existing Performance Share Plan ("PSP"), to certain employees, including two Persons Discharging Managerial Responsibility ("PDMRs"), details of which are set out below:

 

Name

Number of Options

David Gavin

20,000

Iain Stringer

20,000

 

Following these awards, the PDMRs' total interests in Ordinary Shares comprise:

 

 

 

 

Name

 

Number of

Ordinary Shares held

Interest in Ordinary Shares in Synectics share schemes

 

Resultant total interest in Ordinary Shares

 

% of issued share capital

David Gavin

-

60,000

60,000

0.34%

Iain Stringer

12,210

60,000

72,210

0.41%

 

Under the PSP, selected employees are entitled to exercise an option to receive a certain number of Ordinary Shares at any time after a three-year vesting period, exercisable at nil cost. The number of Ordinary Shares that are awarded at the end of the three-year period is dependent on the achievement of certain performance criteria and must be exercised within ten years of the date of award.

 

Vesting of the PSP award is measured according to the average of the Compound Annual Growth Rate ("CAGR") of the Total Shareholder Return Index and the CAGR of Adjusted Underlying Diluted Earnings Per Share. If this average is 20% or more, 100% of the award will vest. If this average is above 10% and below 20%, between 0% and 100% of the award will vest on a straight-line basis.

 

Any entitlement under the PSP will lapse on cessation of employment prior to the end of the three-year vesting period, unless cessation of employment is by reason of redundancy, ill health or death.

 

Should the performance criteria be met in full or in part for the Options, it is intended that the appropriate number of Options will be satisfied firstly from any unallocated Ordinary Shares already held within the Company's employee benefit trust with the balance to be satisfied from a new issue of Ordinary Shares.

 

Full details of the PSP were set out in the Company's Annual Report for the year ended 30 November 2021, copies of which are available on the Company's website, www.synecticsplc.com.

 

For further information, please contact:

Synectics plc

Paul Webb, Chief Executive

Amanda Larnder, Finance Director

Tel: +44 (0) 114 280 2828

www.synecticsplc.com

Claire Stewart, Company Secretary

 

email: info@synecticsplc.com

 

 

 

Shore Capital

Tel: +44 (0) 20 7408 4090

Tom Griffiths / David Coaten

 

 

 

About Synectics plc

 

Synectics (AIM: SNX) is a leader in the design, integration and support of advanced security and surveillance systems that enable clients around the world to protect their people, communities, and assets.

 

Founded over 30 years ago, Synectics has deep industry experience across gaming, energy, urban transport, public space and critical infrastructure projects. The group's expert engineering teams work in partnership with customers to create integrated product and technology platforms, proven in the most complex and demanding operating environments.

 

Find out more at www.synecticsplc.com

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