RNS Number : 2436I
Synectics PLC
26 March 2024
 

 

 

 

 

 

 

 

 

26 March 2024

 

 

Synectics plc

("Synectics" or the "Company")

 

Directors / PDMRs' Interests in Shares

 

Synectics plc (AIM: SNX), a leader in advanced security and surveillance systems, announces that it has made an award of options ("Options") over, in aggregate, 140,000 ordinary shares of 20p each in the Company ("Ordinary Shares") under its existing Performance Share Plan ("PSP"),  to certain Directors and Persons Discharging Managerial Responsibility ("PDMRs"), under its existing Performance Share Plan ("PSP"), as detailed below:

 

Name

Position

Status

Number of Options

Paul Webb

Chief Executive Officer

Executive Director

60,000

Amanda Larnder

Chief Financial Officer

Executive Director

40,000

David Aindow

Business Strategy Director

PDMR

20,000

David Gavin

Divisional Director

PDMR

20,000

 

Following these purchases, the above Directors' and PDMRs' interests in the Ordinary Shares are as follows:

 

Name

Number of Ordinary Shares held

Interest in Ordinary Shares in share schemes

Resultant total interest

% of issued share capital

Paul Webb

57,115

515,079

632,194

3.55

Amanda Larnder

4,326

164,000

168,326

0.95

David Aindow

2,000

                80,000

                82,000

0.46

David Gavin

0

                80,782

                80,782

0.45

 

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. If the average is 10% or less, 0% of the award will vest.

 

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 2023, copies of which are available on the Company's website, www.synecticsplc.com.

 

For further information, please contact:

 

Synectics plc

Paul Webb, Chief Executive Officer

Amanda Larnder, Chief Financial Officer

Claire Stewart, Company Secretary

email: info@synecticsplc.com

Tel: +44 (0) 114 280 2828

www.synecticsplc.com

 

 

Shore Capital

Tel: +44 (0) 20 7408 4090

Tom Griffiths / David Coaten / Rachel Goldstein


 

Vigo Consulting  

Jeremy Garcia / Fiona Hetherington / Aisling Fitzgerald 

synectics@vigoconsulting.com  

Tel: +44 (0) 20 7390 0230  

 


 

 

About Synectics plc

 

Synectics (AIM: SNX) is a leader in advanced security and surveillance systems that help protect people, property, communities, and assets around the world.

 

The Company's expertise is in providing solutions for specific markets where security and surveillance are critical to operations. These include gaming, oil and gas, public space, transport, and critical infrastructure.

 

Synectics has deep industry experience in these markets and works closely with customers to deliver solutions that are tailored to meet their needs. Technical excellence, combined with decades of experience and long-standing customer relationships, provides fundamental differentiation from mainstream suppliers and makes the Company a stand-out in its field.

 

Find out more at www.synecticsplc.com

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHUNRRRSWUOURR