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Filtronic PLC (FTC)

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Thursday 24 June, 2021

Filtronic PLC

Grant of Options

RNS Number : 0357D
Filtronic PLC
24 June 2021
 

 

 

24 June 2021

 

Filtronic plc

 ("the Company")

 

Grant of Options

 

Filtronic plc (AIM: FTC), the designer and manufacturer of products for the critical communications, wireless telecom and aerospace & defence markets, announces that on 24 June 2021, it granted new share options ("the Options") to the following directors under the existing Filtronic plc Employee Share Option Plan 2020 ("the ESOP") on the recommendation of the Remuneration Committee. The options grant is designed to align the interests of the Executive Directors and key members of the management team with the interests of shareholders. As such the vesting of these options is based on achieving certain performance criteria for the three years prior to vesting. The performance criteria under the ESOP are based entirely on revenue growth in the three-year vesting period.

 

The exercise price for the Options is 11.125 pence per share being the Company's closing mid-market share price on 23 June 2021. The Options lapse on the tenth anniversary of the date of grant and no option can vest before the third anniversary of the date of grant.

 

In addition to the above, both Executive Directors have elected to participate in the Filtronic plc all Employee Sharesave Scheme (SAYE) where, subject to them making monthly contributions to the Scheme and other conditions, they will each have the option after 1 June 2024 of acquiring a maximum of 58,290 shares each, at an option price of 6.67 per share.

 

 

Director/PDMR

Scheme

Options prior to Grant

Options granted

Resultant Option holdings

Richard Gibbs

Chief Executive Officer

ESOP

750,000

245,448

995,448

Michael Tyerman

Chief Financial Officer

 

 

ESOP

300,000*

479,988

779,988

Richard Gibbs

Chief Executive Officer

SAYE

0

35,622

35,622

Michael Tyerman

Chief Financial Officer

 

 

SAYE

0

58,290

58,290

 

*These options were granted under the Filtronic plc Employee Share Option Plan 2008.

 

Enquiries:

Filtronic plc

Tel. 0113 220 0000 or [email protected]

Richard Gibbs (Chief Executive Officer) 


Michael Tyerman (Chief Financial Officer)


Maura Moynihan (Company Secretary)

 


finnCap Limited

Tel. 020 7220 0500

Jonny Franklin-Adams/Tim Harper (Corporate Finance)

Alice Lane / Sunila de Silva (ECM)




Walbrook PR Limited

Tel. 020 7933 8780 or [email protected]

Paul Vann

Mob. 07768 807 631

 

Notes:

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014. PDMR Notification Form :

The notifications below are made in accordance with the requirements of UK MAR:

1. 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Richard Gibbs

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

Filtronic plc

b)

LEI

213800PDQ9V2ZNCDO264

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

 

Ordinary shares of 0.1p each

 

Identification code

GB0003362992

b)

Nature of the transaction

Grant of 245,448 options under the Filtronic plc Employee Share Option Plan 2020

c)

Price(s) and volume(s)

Price(s)

Volume(s)

11.125 p ence

245,448

 

d)

Aggregated information:

·Aggregated volume

·Price

 

n/a (single transaction)

e)

Date of the transaction

24 June 2021

f)

Place of the transaction

London Stock Exchange, AIM Market

 



 

PDMR Notification Form :

The notifications below are made in accordance with the requirements of UK MAR:

1. 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Michael Tyerman

2. 

Reason for the Notification

a)

Position/status

Chief Financial Officer

b)

Initial notification/Amendment

Initial notification

 

3. 

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

a)

Name

Filtronic plc

b)

LEI

213800PDQ9V2ZNCDO264

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

 

Ordinary shares of 0.1p each

 

Identification code

GB0003362992

b)

Nature of the transaction

Grant of 479,988 options under the Filtronic plc Employee Share Option Plan 2020

c)

Price(s) and volume(s)

Price(s)

Volume(s)

11.125 pence

479,988

 

d)

Aggregated information:

·Aggregated volume

·Price

 

n/a (single transaction)

e)

Date of the transaction

24 June 2021

f)

Place of the transaction

London Stock Exchange, AIM Market

 

 

 

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