Director's dealing - Grant of Share Options
3 August 2015
Mercia Technologies PLC
Director's dealing - Grant of Share Options
Mercia Technologies PLC (AIM: MERC, 'Mercia' or the 'Company') a Midlands-based investment group, building, funding and commercialising technology businesses across the UK, announces that on 31 July 2015, Matthew Mead, Chief Investment Officer and a director of Mercia, was awarded options over 1,000,000 new Ordinary shares with a nominal value of 0.001 pence each in the Company ('Ordinary shares') pursuant to the 2014 Mercia Company Share Option Plan.
Options over 42,857 new Ordinary shares, being the HMRC approved element of the award, vest and are exercisable in three equal annual tranches from 31 July 2018 at an exercise price of 70.0 pence, being the closing mid-market price on 30 July 2015, the day before the award. Options over the remaining 957,143 new Ordinary shares, being the unapproved element of the award, also vest and are exercisable in three equal annual tranches from 31 July 2018, but at an exercise price of 57.5 pence, being the closing mid-market price on 10 July 2015, the date that Mercia exited its recent close period. All options would have been granted to Matthew when he joined Mercia on 26 May 2015, had the Company not been in a close period on that date.
The awards are subject to the same performance condition applicable to the other Executive Directors, as set out in the Company's recently published Annual Report.
Enquiries:
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Mercia Technologies PLC (www.merciatechnologies.com) |
+44 (0) 330 223 1430 |
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Mark Payton, Chief Executive Martin Glanfield, Chief Financial Officer |
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Cenkos Securities (Nomad) |
+44 (0) 20 7397 8900 |
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Ivonne Cantu / Mark Connelly |
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Instinctif Partners |
+44 (0) 20 7457 2020 |
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Kay Larsen / Lauren Foster |
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Note to editors
Mercia creates, funds and develops technology businesses nationally with an emphasis in the Midlands, the North and Scotland. It brings technology transfer, company formation, incubation, commercialisation and investment to technology ventures. Approximately 50% of its investments derive from university spinouts. Mercia invests across key technology sectors in which it has deep sector expertise.
The Mercia model is one of patiently nurturing businesses through its tax efficient third party funds under management, and then scaling them with direct investment at the point of commercial traction. Through this, Mercia has a well seeded portfolio and pipeline of investments - its 'emerging stars'. Currently, the Group has a direct investment in 18 operating companies and access to a portfolio of 44 businesses through its third party funds, managed by its wholly owned subsidiary Mercia Fund Management.
Mercia's shares started trading on AIM on 18 December 2014 and since then up until 31 March 2015, Mercia has invested approximately £12m directly across its portfolio of emerging stars, which in themselves have attracted a total investment of over £70m alongside investment from the Group to date. In addition to its direct investments, Mercia (via Mercia Fund Management) has invested over £19m to build its portfolio of potential emerging stars.
This information is provided by RNS
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