Synectics PLC Director/PDMR Shareholding (4544J)
30 March 2018 - 12:09AM
UK Regulatory
TIDMSNX
RNS Number : 4544J
Synectics PLC
29 March 2018
29 March 2018
Synectics plc
(the "Company" or the "Group")
Award of Options under Share Plan
PDMR shareholdings
Synectics (AIM: SNX), a leader in the design, integration,
control and management of advanced surveillance technology and
networked security systems, announces that on 28 March 2018 it made
awards over 30,000 Synectics plc ordinary shares of 20p (the
"Shares") to certain senior managers employed within the Group,
under its Performance Share Plan ("PSP").
Under the PSP award, awards were made to the following Persons
Discharging Managerial Responsibility (PDMRs):
Name Position Status PSP award
(number of
Shares)
----------------- ---------------------- -------- ------------
Managing Director,
Stacey SSS Management
Anderson Services PDMR 10,000
----------------- ---------------------- -------- ------------
Managing Director,
Quadrant Security
Mark Pennington Group Limited PDMR 10,000
----------------- ---------------------- -------- ------------
Divisional Director,
Synectics Mobile
Iain Stringer Systems PDMR 10,000
----------------- ---------------------- -------- ------------
Following the awards, their total interests in Shares are now as
follows:
Name Shares Interest Resultant % of issued
held in Shares total interest share capital
in Synectics
share schemes
----------------- --------- --------------- ---------------- ---------------
Stacey Anderson - 23,500 23,500 0.13%
----------------- --------- --------------- ---------------- ---------------
Mark Pennington - 15,000 15,000 0.08%
----------------- --------- --------------- ---------------- ---------------
Iain Stringer - 26,500 26,500 0.15%
----------------- --------- --------------- ---------------- ---------------
Under the PSP, selected employees are entitled to exercise an
option to receive a certain number of Shares at any time after a 3
year vesting period, at no cost to themselves. The number of Shares
that are awarded at the end of the 3 year period is dependent on
the achievement of certain performance criteria.
Vesting of the PSP awards is dependent on the total return on
Shares compared with the AIM All Share Total Return Index (the
"Index"). If the total return on Shares out-performs the Index by
5% or more in the 3 years following the award, all of the Shares
awarded will vest. If Shares match the Index performance, then 25%
of the awarded Shares will vest. Between these points the number of
Shares that vest will be pro-rata. If the total return on Shares
underperforms the Index, then no Shares will vest. The limit on the
number of Shares over which interests may be awarded remains
unchanged.
Any entitlement under the PSP will lapse on cessation of
employment prior to the end of the 3 year vesting period, unless
cessation of employment is by reason of redundancy, ill health or
death.
Should the performance criteria be met in full or part, it is
intended that the appropriate number of Shares will be satisfied
from unallocated Shares already held within the Company's employee
benefit trust.
Full details of the PSP were set out in the Company's Annual
Report for the year ended 30 November 2017.
For further information, please contact:
Synectics plc Tel: +44 (0) 1527 850 080
Richard Brierley, Company www.synecticsplc.com
Secretary
Stockdale Securities Tel: +44 (0) 20 7601 6100
Tom Griffiths / Henry
Willcocks
This information is provided by RNS
The company news service from the London Stock Exchange
END
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