Grant of Share Options

RNS Number : 1937K
SRT Marine Systems PLC
04 May 2022
 

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

 

Grant of share options

SRT Marine Systems plc, a global provider of maritime surveillance, monitoring and management systems, announces that share options have been granted to Simon Tucker, Chief Executive Officer.

On 3 May 2022, options were granted over 2,500,000 ordinary shares of 0.1p each and are exercisable at the nominal value. The options vest between 3 and 10 years in five equal tranches when the average mid-market closing share price exceeds each of 125p, 150p, 200p, 250p, 300p over a twenty day period.  The latest closing price of the shares was 33p, the first tranche of options representing an increase of in excess of 3.8x the current share price.

 

Contacts:


 

SRT Marine Systems plc

www.srt-marine.com  

+ 44 (0) 1761 409500

 

 

Simon Tucker (CEO)

simon.tucker@srt-marine.com

 

Louise Coates (Marketing Manager)

louise.coates@srt-marine.com

 

 

finnCap Ltd


 

Jonny Franklin-Adams / Teddy Whiley (Corporate Finance)

+44 (0) 20 7220 0500

 

Tim Redfern / Charlotte Sutcliffe (ECM)

 

 


 



About SRT Marine Systems plc:

SRT Marine Systems PLC is a global company which develops and provides integrated maritime surveillance, monitoring, management and safety systems used by coast guards, fishery authorities, infrastructure and vessel owners for the purposes of managing and controlling their maritime domain.  Applications include security, safety, search & rescue, law enforcement, fisheries management, illegal fishing detection and environment monitoring. 

 

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

Simon Tucker

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

SRT Marine Systems PLC

b)

LEI

2138002DF3KFXL472938

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 Identification code

Ordinary Shares of 0.1p each in SRT Marine Systems plc

ISIN - GB00B0M8KM36

b)

Nature of the transaction

Grant of Options over Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

125p

150p

200p

250p

300p

Volume(s)

500,000

500,000

500,000

500,000

500,000

d)

 

Aggregated information

-  Aggregated volume

-  Price

 

 

2,500,000

500,000 at each price hurdle as noted above in 4 (c).

e)

Date of the transaction

3 May 2022

f)

Place of the transaction

London Stock Exchange, AIM

 

 

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