RNS Number : 7526I
IDOX PLC
28 March 2024

28 March 2024

Idox plc

('Idox' or the 'Group' or the 'Company')

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRS")

Idox plc (AIM: IDOX), a leading supplier of specialist information management software and Geospatial data solutions to the public and asset intensive sectors, announces that, on 28 March 2024 the following PDMRs (the "Grantees") received conditional awards over the number of Ordinary Shares each in the Company ("Ordinary Shares") shown below (the "Awards"), in accordance with the rules of the Long Term Incentive Plan 2023 ("2023 LTIP").

Standard Award

Name of Director/PDMR

Number of Shares Awarded

Type of Award

David Meaden

566,251

Conditional

Anoop Kang

440,058

Conditional

Jonathan Legdon

444,912

Conditional

Ruth Paterson

242,682

Conditional

The vesting and holding period of each Award is subject to the rules of the 2023 LTIP and the Grantee agreeing to be bound by the terms of their Award.

The Awards will normally vest on the third anniversary of the grant date. No consideration is payable by grantees on either the grant or vesting of the Awards.

Three independent performance conditions will be used:

o Absolute TSR (50% weighting)

o Adjusted EPS (25% weighting)

o Revenue (25% weighting)

The performance condition applying to half of the Awards (the "TSR Part") will measure the Company's absolute total shareholder return ("TSR") performance over a three-year period. The measurement period for the Awards shall comprise three consecutive financial years of the Company, starting with the 2024 financial year. No portion of the TSR Part will vest unless the Company's TSR performance achieves a 5% CAGR over the measurement period at which point 18.75% of the TSR Part will vest, rising to 10% at which point 75% of the TSR Part will vest and thereafter on a straight-line basis to 100% vesting for the Company's TSR performance achieving a 12% CAGR over the measurement period.

The performance condition applying to a separate quarter of the Awards (the "EPS Part") will measure the Company's adjusted earnings per share performance over a three-year measurement period starting with the 2024 financial year. No portion of the EPS Part will vest unless the Company's adjusted EPS for the 2026 financial year is 2.95p at which point 18.75% of the EPS Part will vest, rising to 3.12p at which point 75% of the EPS Part will vest and thereafter on a straight-line basis to 100% vesting for the Company's EPS for the 2026 financial year being 3.21p.

The performance condition applying to a separate quarter of the Awards (the "Revenue Part") will measure the company's revenue performance over a three-year measurement period starting with the 2024 financial year. No portion of the Revenue Part will vest unless the Company's revenue for the 2026 financial year is £95.28m, at which point 18.75% of the Revenue part will vest, rising to £100.78m at which point 75% of the Revenue Part will vest and thereafter on a straight-line basis to 100% vesting for the Company's revenue for the 2026 financial year being £103.6m.

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

For further information please contact:

Idox plc

+44 (0) 870 333 7101

Chris Stone, Non-Executive Chairman

investorrelations@idoxgroup.com

David Meaden, Chief Executive

Anoop Kang, Chief Financial Officer


Peel Hunt LLP (NOMAD and Broker)

+44 (0) 20 7418 8900

Paul Gillam

Adam Telling




MHP

+ 44 (0) 20 3128 8100

Reg Hoare

idox@mhpgroup.com

Ollie Hoare


Matthew Taylor


About Idox plc

For more information see www.idoxplc.com @Idoxgroup



1.

Details of the person discharging managerial responsibilities / person closely associated

a.

Name

David Meaden

2.

Reason for the notification

a.

Position/status

Chief Executive Officer

b.

Initial notification /Amendment

Initial Notification

3.

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

a.

Name

Idox plc

b.

LEI

213800Z3FE6PWVSUGE70

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

b.

Nature of the transaction

Conditional Award of Ordinary Shares

c.

Price(s) and volume(s)

Price(s)

Volume(s)

n/a

566,251

d.

Aggregated information

· Aggregated volume

· Price

Price(s)

Volume(s)

n/a

566,251

e.

Date of the transaction

28 March 2024

f.

Place of the transaction

Outside a trading venue

1.

Details of the person discharging managerial responsibilities / person closely associated

a.

Name

Anoop Kang

2.

Reason for the notification

a.

Position/status

Chief Financial Officer

b.

Initial notification /Amendment

Initial Notification

3.

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

a.

Name

Idox plc

b.

LEI

213800Z3FE6PWVSUGE70

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

b.

Nature of the transaction

Conditional Award of Ordinary Shares

c.

Price(s) and volume(s)

Price(s)

Volume(s)

n/a

440,058

d.

Aggregated information

· Aggregated volume

· Price

Price(s)

Volume(s)

n/a

440,058

e.

Date of the transaction

28 March 2024

f.

Place of the transaction

Outside a trading venue

1.

Details of the person discharging managerial responsibilities / person closely associated

a.

Name

Jonathan Ledgon

2.

Reason for the notification

a.

Position/status

Chief Operating Officer

b.

Initial notification /Amendment

Initial Notification

3.

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

a.

Name

Idox plc

b.

LEI

213800Z3FE6PWVSUGE70

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

b.

Nature of the transaction

Conditional Award of Ordinary Shares

c.

Price(s) and volume(s)

Price(s)

Volume(s)

n/a

444,912

d.

Aggregated information

· Aggregated volume

· Price

Price(s)

Volume(s)

n/a

444,912

e.

Date of the transaction

28 March 2024

f.

Place of the transaction

Outside a trading venue

1.

Details of the person discharging managerial responsibilities / person closely associated

a.

Name

Ruth Paterson

2.

Reason for the notification

a.

Position/status

Chief Legal & Corporate Officer

b.

Initial notification /Amendment

Initial Notification

3.

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

a.

Name

Idox plc

b.

LEI

213800Z3FE6PWVSUGE70

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

b.

Nature of the transaction

Conditional Award of Ordinary Shares

c.

Price(s) and volume(s)

Price(s)

Volume(s)

n/a

242,682

d.

Aggregated information

· Aggregated volume

· Price

Price(s)

Volume(s)

n/a

242,682

e.

Date of the transaction

28 March 2024

f.

Place of the transaction

Outside a trading venue

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
DSHFLFVFVRITFIS