Director/PDMR Shareholding

RNS Number : 7731Z

essensys PLC

16 September 2022

 

16 September 2022

essensys plc

("essensys" or the "Group")

Grant of Options

essensys plc, the leading global provider of mission-critical software and technology to the flexible workspace industry, announces that its has granted options over a total of 1,031,287 options under the Group's existing Long-Term Incentive Plan (the "LTIP") to certain members of its executive management team as follows:

Name	Position	Number of Options
Alan Pepper	Chief Operating Officer	204,636
Sarah Harvey	Chief Financial Officer	366,667
Jeremy Bernard	CEO, North America	120,000
James Lowery	CEO, UK & Europe	120,000
David Kinnaird	Chief Customer Officer	104,876
James Shannon	Chief Product & Technology Officer	115,108

These grants are all subject to performance conditions, have an exercise price of 0.25 pence per share and will, depending on the individual concerned, become exerciseable between November 2023 and November 2025.

Mark Furness, Chief Executive Officer of the Group, has waived his entitlement to the planned option grant set out in the Group's Annual Report for the year ended 31 July 2021 and, in order to minimise dilution of existing shareholders' positions, has indicated that he will waive any entitlement to option grants for the foreseeable future.

In respect of Alan Pepper this grant replaces the previously reported planned grant as was set out in the Remuneration Committee Report included within the Group's Annual Report for the year ended 31 July 2021.  Sarah Harvey's grant is in relation to her commencement of employment as the Group's Chief Financial Officer.

At the same time the Remuneration Committee has agreed to extend the vesting period for LTIP options with performance conditions issued on 28 May 2019 (immediately prior to the Group's IPO and as set out in the Group's Admission Document) to 28 May 2024.  This is intended to ensure that the optionholders' interests in the improvement in the Group's share price remain aligned to those of our shareholders.

Following these grants, the Group has a total of 4,375,163 share options outstanding, representing 6.8% of the existing issued share capital of the Group.

For further information, please contact:

essensys plc	[phone]
Mark Furness (Chief Executive Officer) Alan Pepper (Chief Operating Officer) Sarah Harvey (Chief Financial Officer)
Singer Capital Markets (nominated adviser and broker)	[phone]
Peter Steel / Harry Gooden / George Tzimas
FTI Consulting (public relations adviser)	[phone]
Jamie Ricketts / Eve Kirmatzis / Talia Jessener / Victoria Caton

About essensys plc

essensys is the leading global provider of mission-critical SaaS platforms and on-demand cloud services to the high growth flexible workspace industry. essensys' software is specifically designed and developed to help solve the complex operational challenges faced by multi-site flexible workspace operators as they grow and scale their operations. The Group's technology allows operators to deliver a range of differentiated, flexible and customer-specific services to a broad base of tenants across multiple locations and helps operators to manage the cost, operational and technological challenges they typically encounter.

The essensys Platform addresses these complex operational challenges, and reduces costs by simplifying the day-to-day management of flexible workspaces and the provision of on-demand IT, technology and infrastructure services to tenants. essensys' platforms automate key tasks and processes and help flexible workspace providers deliver highly efficient, customer-centric workspace solutions and member experiences with enterprise class services.

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	1.  Alan Pepper 2.  Sarah Harvey 3.  Jeremy Bernard 4.  James Lowery 5.  David Kinnaird 6.  James Shannon
2	Reason for the notification
a)	Position/status	1.  Chief Operating Officer 2.  Chief Financial Officer 3.  CEO, North America 4.  CEO, UK & Europe 5.  Chief Customer Officer 6.  Chief Product & Technology Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	essensys PLC
b)	LEI	2138002MSI4WKYNOBS73
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	Options over ordinary shares
	Identification code	GB00BJL1ZF49
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			0.25 pence	1.  204,636 2.  366,667 3.  120,000 4.  120,000 5.  104,876 6.  115,108
d)	Aggregated information	N/A
	- Aggregated volume
	- Price
e)	Date of the transaction	15 September 2022
f)	Place of the transaction	Outside a trading venue

 

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