Crimson Tide PLC Grant of Options under the Company's EMI Scheme (5309J)
22 December 2020 - 9:45PM
UK Regulatory
TIDMTIDE
RNS Number : 5309J
Crimson Tide PLC
22 December 2020
Crimson Tide plc
("Crimson Tide" or "Company")
Grant of Options under the Company's EMI Scheme
Crimson Tide plc, the provider of the mpro5 mobility platform,
announces a grant of options over ordinary shares in the Company
("Options") under the Company's Enterprise Management Incentive
Scheme ("EMI Scheme"):
Director Options granted under
the EMI Scheme
Luke Jeffrey (CEO) 7,500,000
----------------------
Peter Hurter (Finance Director & Company
Secretary) 4,600,000
----------------------
Toby Hawkins (Sales & Marketing Director) 4,600,000
----------------------
A further 8,000,000 Options in aggregate have been granted to
other employees bringing the total number of options now
outstanding to 24,700,000 representing 5.4 percent of the Company's
current issued share capital.
Today's award follows the expiry in May this year of the last
tranche of options previously issued by the Company, made in May
2010. At that time, options over 35.5m shares were in issue. In
making these awards and setting the performance criteria, the
remuneration committee has considered the historic performance of
the directors and employees during the period when no awards were
made as well as having regard to the need to provide forward
looking performance criteria, aligned closely to the achievement of
future growth targets in line with the Board's long-term
strategy.
Accordingly, the above grants may be exercised in whole or in
part in accordance with the Company's EMI Share Option Plan
provided the established performance criteria have been met. All
options are exercisable between 3 and 10 years following the date
of grant. The options become exercisable on the share price
exceeding 4.5 pence per share for any five consecutive business
days.
The following notification, made in accordance with the
requirements of the EU Market Abuse Regulation, gives further
details on the grant of Options to PDMRs.
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name i) Luke Jeffrey
ii) Peter Hurter
iii) Toby Hawkins
------------------------------------------------------------ -----------------------------------------------
Reason for the notification
-------------------------------------------------------------------------------------------------------------
a) Position/status i) Chief Executive Officer
ii) Finance director & Company Secretary
iii) Sales and Marketing director
------------------------------------------------------------ -----------------------------------------------
b) Initial notification/ Amendment Initial Notification
------------------------------------------------------------ -----------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-------------------------------------------------------------------------------------------------------------
a) Name Crimson Tide plc
------------------------------------------------------------ -----------------------------------------------
b) LEI 213800YUNLNBVYR3G129
------------------------------------------------------------ -----------------------------------------------
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 Options over ordinary shares of 0.1p each
Identification code
n/a
------------------------------------------------------------ -----------------------------------------------
b) Nature of the transaction Grant of options under EMI scheme
------------------------------------------------------------ -----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
i) n/a i) 7,500,000
ii) n/a ii) 4,600,000
iii) n/a iii) 4,600,000
----------------
------------------------------------------------------------ -----------------------------------------------
d) Aggregated information
* Aggregated volume 16,700,000
Nil
* Price
------------------------------------------------------------ -----------------------------------------------
e) Date of the transaction 22(nd) December 2020
------------------------------------------------------------ -----------------------------------------------
f) Place of the transaction Tunbridge Wells
------------------------------------------------------------ -----------------------------------------------
For further information:
Crimson Tide plc
Barrie Whipp / Luke Jeffrey
01892 542 444
finnCap Ltd (Nominated Adviser and Broker)
Julian Blunt / James Thompson - Corporate Finance
Andrew Burdis - Corporate Broking
020 7220 0500
Alma PR
Josh Royston / Harriet Jackson
020 3405 0213
For further information on Crimson Tide plc, see the website at:
www.crimsontide.co.uk/
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014.
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