Long Term Incentive Plan

RNS Number : 0737I
Amino Technologies PLC
25 August 2016
 

25 August 2016

AMINO TECHNOLOGIES PLC


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

 

Long Term Incentive Plan

 

Amino Technologies plc (LSE: AMO), the Cambridge-based provider of digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, announces the allotment of B Shares of 0.1 pence in Amino Holdings Limited (a subsidiary of the Group) ("B Shares") under the Employee Shareholder Status ("ESS") rules to a number of key senior management (the "Participants") under the new Long Term Incentive Plan (the "LTIP") on 24 August 2016. The arrangements are intended to align the Participants' interests with shareholders and the Company's strategic plan.

 

The B Shares give the holders the right to share in the value of the Group once the price of an Ordinary Share in the Company exceeds 161 pence per Ordinary Share and certain earnings per share criteria have been met over the next two financial years. In addition the Participants must each remain employed until the end of the vesting period (1 September 2019 for the award to the CFO, signing of the audited FY18 Group accounts for other Participants).

 

To the extent that the B Shares vest, Participants will have 7 years from the end of the vesting period to "put" the shares to the Group in return for cash or, at the option of the Group, the issue of Ordinary Shares in the Company with an equivalent value. The Group also has the option to "call" for the B Shares at any time the price of an Ordinary Share exceeds 220 pence per Ordinary Share.

 

Under the LTIP, the maximum potential value of all awards of B Shares (including future grants) is capped at 4 per cent of the market capitalisation of the Group (measured at the point of crystallisation of B Shares into cash or Ordinary Shares in the Company). At 220 pence per Ordinary Share the potential value of all awards of B Shares would be 2.2 percent of the market capitalisation of the Group.

 

The following LTIP awards were made on 24 August 2016. Participants were allotted these shares under the ESS rules, and so had immediate PAYE and NIC charges on the taxable value of the B Shares.

 

Name

Position

Number of B Shares awarded

Donald McGarva

CEO

43,224

Mark Carlisle

CFO

25,934

Other Participants

-

35,443

 

 

For further information please contact:

Amino Technologies PLC

+44 (0)1954 234100

Donald McGarva, Chief Executive Officer

 

Mark Carlisle, Chief Financial Officer

 

 

 

finnCap Ltd (NOMAD and Joint Broker)

+44 (0)20 7220 0500

Matt Goode / Carl Holmes /Simon Hicks (Corporate Finance)

Simon Johnson (Corporate Broking)

 

 

 

Canaccord Genuity Limited (Joint Broker and Financial Adviser)

+44 (0)20 7523 8000

Simon Bridges / James Craven / Emma Gabriel

 

 

 

FTI Consulting LLP (Financial PR)

+44 (0)20 3727 1000

Chris Lane / Alex Le May / Darius Alexander

 

 

 

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

Donald McGarva

2.               

Reason for the Notification

a)

Position/status

CEO

b)

Initial notification/Amendment

Initial notification

3.    

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

a)

Name

Amino Technologies PLC

b)

LEI

n/a

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

a)

Description of the Financial instrument, type of instrument

B shares of 0.1 pence in Amino Holdings Limited ("B Shares")

Identification code

n/a

b)

Nature of the transaction

Issue of B Shares under Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

n/a

43,224

 

d)

Aggregated information:

·      Aggregated volume

·      Price

 

Issue of 43,224 B Shares

e)

Date of the transaction

24 August 2016

f)

Place of the transaction

Outside a trading venue

 

 

1.    

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mark Carlisle

2.               

Reason for the Notification

a)

Position/status

CFO

b)

Initial notification/Amendment

Initial notification

3.    

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

a)

Name

Amino Technologies PLC

b)

LEI

n/a

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

a)

Description of the Financial instrument, type of instrument

B shares of 0.1 pence in Amino Holdings Limited ("B Shares")

Identification code

n/a

b)

Nature of the transaction

Issue of B Shares under Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

n/a

25,394

 

d)

Aggregated information:

·      Aggregated volume

·      Price

 

Issue of 25,394 B Shares

e)

Date of the transaction

24 August 2016

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCAKQDNABKDNFB

Companies

Aferian (AFRN)
UK 100

Latest directors dealings