RNS Number : 5075W
Auction Technology Group PLC
12 December 2023
 

12 December 2023

Auction Technology Group plc (the "Company")

Notification of Transactions by Persons Discharging Managerial Responsibility ("PDMRs")

The Company announces that on 8 December 2023 the following awards over ordinary shares in the capital of the Company were granted to the following PDMRs pursuant to the Company's share incentive plans (together the "Awards").

PDMR

Share Plan

Award

Number of Shares

John-Paul Savant

Long Term Incentive Plan

Nil-Cost Option

161,667

Tom Hargreaves

Long Term Incentive Plan

Nil-Cost Option

138,333

Jeremy Stewart

Long Term Incentive Plan

Nil-Cost Option

54,826

Richard Lewis

Long Term Incentive Plan

Nil-Cost Option

33,100

 

The Awards to the Executive Directors (John-Paul Savant and Tom Hargreaves) are based on an award multiple of 200% of basic salary, as agreed by the Remuneration Committee (the "Committee"). The Awards will vest subject to the achievement of performance conditions over the three-year period ending 30 September 2026 and will be subject to the usual two-year post-vesting holding period. Full details of the Awards, including the performance targets, are disclosed in the Directors' Remuneration Report ("DRR") in the FY2023 Annual Report to be published on 14 December 2023.

 

Since approval of the DRR, the Committee has decided that, in recognition of the current share price level, the Awards should be granted by reference to a share price of £6.00, this being equivalent to the original offer price at the time of Admission in February 2021. The number of shares comprising each Award is therefore significantly lower than would have resulted from the normal approach of using the 5-day average share price following the announcement of the Company's preliminary results for the financial year ended 30 September 2023 (£4.958).

 

Enquiries

Teneo Communications (public relations advisor to ATG)

Tom Murray, Matt Low, Arthur Rogers

+44 207 353 4200 ATG@teneo.com

 

ATG

For investor enquiries investorrelations@auctiontechnologygroup.com

For media enquiries press@auctiontechnologygroup.com

Company Secretary cosec@auctiontechnologygroup.com

 

The relevant notifications set out below in relation to the Awards are provided in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.

This Announcement should be read in its entirety. In particular, you should read and understand the information provided in the "Important Notices" section below.

IMPORTANT NOTICES

This Announcement has been prepared by, and is the sole responsibility of, the Directors of Auction Technology Group plc.

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

John-Paul Savant

2

Reason for Notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Auction Technology Group plc

b)

LEI

213800U8Q9K2XI3WRE39

4A.

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 0.01 pence each in Auction Technology Group plc

Identification code

GB00BMVQDZ64

 

b)

Nature of the transaction

Grant of Nil-Cost Option under the Company's Long Term Incentive Plan

 

c)

Price(s) and volume(s)

 

 

Price(s)

Volume(s)

Nil

161,667





d)

Aggregated information

-     Aggregated volume

-     Price

Aggregated Price

Aggregated Volume

Total Aggregate Volume

Nil

161,667

161,667

e)

Date of the transaction

8 December 2023

f)

Place of the transaction

Outside of a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Tom Hargreaves

2

Reason for Notification

a)

Position/status

Chief Financial Officer

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Auction Technology Group plc

b)

LEI

213800U8Q9K2XI3WRE39

4A.

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 0.01 pence each in Auction Technology Group plc

Identification code

GB00BMVQDZ64

 

b)

Nature of the transaction

Grant of Nil-Cost Option under the Company's Long Term Incentive Plan

 

c)

Price(s) and volume(s)

 

 

Price(s)

Volume(s)

Nil

138,333





d)

Aggregated information

-     Aggregated volume

-     Price

Aggregated Price

Aggregated Volume

Total Aggregate Volume

Nil

138,333

138,333

e)

Date of the transaction

8 December 2023

f)

Place of the transaction

Outside of a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jeremy Stewart

2

Reason for Notification

a)

Position/status

President of North America

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Auction Technology Group plc

b)

LEI

213800U8Q9K2XI3WRE39

4A.

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 0.01 pence each in Auction Technology Group plc

Identification code

GB00BMVQDZ64

 

b)

Nature of the transaction

Grant of Nil-Cost Option under the Company's Long Term Incentive Plan

c)

Price(s) and volume(s)

 

 

Price(s)

Volume(s)

Nil

54,826



d)

Aggregated information

-     Aggregated volume

-     Price

Aggregate Price

Aggregate Volume

Total Aggregate Volume

Nil

54,826

54,826

e)

Date of the transaction

8 December 2023

f)

Place of the transaction

Outside of trading venue.

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Richard Lewis

2

Reason for Notification

a)

Position/status

Chief Operating Officer

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Auction Technology Group plc

b)

LEI

213800U8Q9K2XI3WRE39

4A.

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 0.01 pence each in Auction Technology Group plc

Identification code

GB00BMVQDZ64

 

b)

Nature of the transaction

Grant of Nil-Cost Option under the Company's Long Term Incentive Plan

 

c)

Price(s) and volume(s)

 

 

Price(s)

Volume(s)

Nil

33,100



d)

Aggregated information

-     Aggregated volume

-     Price

Aggregate Price

Aggregate Volume

Total Aggregate Volume

Nil

33,100

33,100

e)

Date of the transaction

8 December 2023

f)

Place of the transaction

Outside of trading venue.

 

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