TIDMFA.

RNS Number : 6886E

FireAngel Safety Technology Group

09 July 2021

9 July 2021

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 8 July 2021 it made awards of options ("Options") over a total of 7,470,891 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 Options 
                                                              award (over 
                                                                  Shares) 
 Directors 
                                             Director and 
 John Conoley      Executive Chairman         PDMR              1,821,272 
                  ------------------------  --------------  ------------- 
                                             Director and 
 Zoe Fox           Chief Finance Officer      PDMR              1,311,316 
                  ------------------------  --------------  ------------- 
 Senior Managers 
 Nick Rutter       Chief Product Officer     PDMR                 450,000 
                  ------------------------  --------------  ------------- 
 Rene Nolten       Business Unit Director    PDMR                 450,000 
                  ------------------------  --------------  ------------- 
 Claire Pickard    Supply Chain Director     PDMR                 450,000 
                  ------------------------  --------------  ------------- 
 Steve Boggis      Business Unit Director    PDMR                 450,000 
                  ------------------------  --------------  ------------- 
 

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 ("Vesting Period"), at a cost to the employee of the nominal value of the Shares.

Vesting of the LTIP Options is dependent on performance targets, based on total shareholder return ('TSR') and Earnings per share ('EPS'). The award is split evenly across the 2 performance conditions with 50 per cent. of the total award for each performance condition.

The maximum number of Options that vest and become exercisable into Shares at the end of the Vesting Period is calculated as follows for each performance condition:

 
              Total Shareholder Return                    % of Options that vest under the 
               (TSR)                                      TSR performance condition (50% of 
                                                                     total award) 
              Less than 100% growth                                      Nil 
                                         ----------------------------------------------------- 
              100% growth                                                25% 
                                         ----------------------------------------------------- 
              Between 100% growth and                  Between 25% and 100% on a straight-line 
               200% growth                                              basis 
                                         ----------------------------------------------------- 
              200% growth or more                                       100% 
                                         ----------------------------------------------------- 
 
 
              Earnings Per Share (EPS)                     % of Options that vest under the 
                                                           EPS performance condition (50% of 
                                                                      total award) 
              Less than 2.2 pence                                         Nil 
                                          ----------------------------------------------------- 
              Between 2.2 pence and 3.2                  Between 0% and 25% on a straight-line 
               pence                                                     basis 
                                          ----------------------------------------------------- 
              Between 3.2 pence and 4.2                 Between 25% and 100% on a straight-line 
               pence                                                     basis 
                                          ----------------------------------------------------- 
              4.2 pence or more                                          100% 
                                          ----------------------------------------------------- 
 

Following the Vesting Period, the Options are exercisable for 10 years, after which, any un-exercised Option will lapse.

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, both John Conoley and Nick Rutter have irrevocably and unconditionally surrendered and cancelled 1,500,000 and 250,000 Options respectively in the capital of the Company under the FireAngel Safety Technology Group 2015 Long Term Incentive Plan, previously awarded on 2 August 2019.

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

 
 Name                                       Ordinary   % of ordinary     Interest 
                                         shares held          shares    in shares 
                                                                held     in share 
                                                                          schemes 
 
 Directors 
--------------------------------------------------------------------------------- 
 John Conoley (including wife's 
  holding)                                   739,463           0.41%    7,177,446 
                                       -------------  --------------  ----------- 
 Zoe Fox                                      52,417           0.03%    1,443,260 
                                       -------------  --------------  ----------- 
 Senior Managers 
--------------------------------------------------------------------------------- 
 Nick Rutter                               4,102,107           2.27%      877,107 
                                       -------------  --------------  ----------- 
 Rene Nolten                                       -               -      575,000 
                                       -------------  --------------  ----------- 
 Claire Pickard (including husband's 
  holding)                                   241,711           0.13%      653,000 
                                       -------------  --------------  ----------- 
 Steve Boggis                                      -                      450,000 
                                       -------------  --------------  ----------- 
 

For further information, please contact:

 
FireAngel Safety Technology Group plc                 024 7771 7700 
John Conoley, Executive Chairman 
Zoe Fox, Chief Finance Officer 
 
 Shore Capital (Nominated adviser and Joint broker)     020 7408 4050 
Tom Griffiths/David Coaten 
 
 Singer Capital Markets (Joint Broker) 
 Rick Thompson/Alex Bond                                020 7496 3000 
 
 Houston (Financial PR) 
 Kate Hoare/Laura Stewart                               020 4529 0549 
 

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 connected 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, FireAngel Specification and AngelEye.

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

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