Award of Options

RNS Number : 8891H
FireAngel Safety Technology Group
05 August 2019
 

5 August 2019

FireAngel Safety Technology Group plc 

('FireAngel', the 'Group' or the 'Company')

Award of Options under Share Plan

PDMR shareholdings

 

FireAngel (AIM: FA.), one of Europe's leading developers and suppliers of home safety products, announces that on 2 August 2019 it made awards over a total of 3,390,000 FireAngel Safety Technology Group plc ordinary shares of 2p each (the 'Shares') to certain directors and senior managers employed within the Group, under its Long-Term Incentive Plan ('LTIP').

 

Under the LTIP, awards were made to the following Persons Discharging Managerial Responsibility ('PDMRs'):

 

Name

Position

Status

LTIP award (number of Shares)

 

Directors

John Conoley

Executive Chairman

Director and PDMR

1,500,000

Nick Rutter

Chief Product Officer

Director and PDMR

250,000

Mike Stilwell

Group Finance Director

Director and PDMR

750,000

 

 

 

 

Senior Managers

Adam Devey

Business Unit Director

PDMR

100,000

Zoe Fox

Finance Director

PDMR

100,000

Andy Gregg

Operations Director

PDMR

100,000

James King

Business Unit Director

PDMR

100,000

Rene Nolten

Business Unit Director

PDMR

100,000

Claire Pickard

Business Unit Director

PDMR

100,000

 

Following the awards, the total interests of each of the PDMRs referred to above in Shares is as follows:

 

Name

Ordinary shares held

Interest in shares in share schemes

Resultant total interest

% of issued share capital

 

 

 

 

 

Directors

John Conoley

61,181

1,500,000

1,561,181

2.06%

Nick Rutter

3,800,000

375,000

4,175,000

5.50%

Mike Stilwell

55,538

750,000

805,538

1.06%

 

 

 

 

 

Senior Managers

Adam Devey

5,558

100,000

105,558

0.14%

Zoe Fox

-

131,944

131,944

0.17%

Andy Gregg

-

100,000

100,000

0.13%

James King

-

118,333

118,333

0.16%

Rene Nolten

-

125,000

125,000

0.16%

Claire Pickard

82,500

100,000

182,500

0.24%

 

Under the LTIP, selected employees are entitled to exercise an option to receive a certain number of Shares at any time after a three-year vesting period, at a cost to the employee of the nominal value of the Shares.  The number of Shares that are awarded at the end of the three-year period is dependent on the achievement of certain performance criteria.

 

Vesting of the LTIP awards is dependent on achievement of total shareholder return ('TSR').  If TSR on Shares is 200% or more at the end of three years following the award, all of the Shares awarded will vest.  If TSR is 100%, then 25% of the awarded Shares will vest.  Between these points the number of Shares that vest will be pro-rata.  If TSR is less than 100% then no Shares will vest.  The limit on the number of Shares over which interests may be awarded remains unchanged.

 

Any entitlement under the LTIP 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.

 

In addition to these awards, it is the intention of the Remuneration Committee to implement a share matching scheme for executive directors and PDMRs for shares acquired within a year of any fundraising event.

 

 

For further information, please contact:

 

FireAngel Safety Technology Group plc

024 7771 7700

John Conoley, Executive Chairman

 

Mike Stilwell, Group Finance Director

 

Shore Capital (Nominated adviser and broker)

 

 

020 7408 4050

Tom Griffiths

 

 

Notes to Editors

 

About FireAngel Safety Technology Group plc

FireAngel's mission is to protect, save and improve our customers' lives by making innovative, leading edge technology simple and accessible.  FireAngel is one of the market leaders in the European home safety products market.

 

FireAngel's principal products are smoke alarms, CO alarms, heat alarms and accessories.  The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories.  Products are sold under FireAngel's leading brands of FireAngel, FireAngel Pro, AngelEye and FireAngel Connect. 

 

For further product information, please visit: www.fireangeltech.com  

 

 

 


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