TIDMTUNG
RNS Number : 0008E
Tungsten Corporation PLC
02 November 2020
2 November 2020
TUNGSTEN CORPORATION PLC
("Tungsten" or the "Company")
Director/PDMR Shareholdings
On 30(th) October 2020, the following awards over ordinary
shares of 0.438 pence each in Tungsten Corporation Plc were granted
under the Tungsten Corporation Plc Long Term Incentive Plan
("LTIP") to the following person(s) discharging managerial
responsibilities (each a "PDMR"):
PDMR No. of shares under Award
Andrew Lemonofides 1,146,413
--------------------------
Patrick Clark 294,792
--------------------------
The above LTIP awards were granted as nominal cost options which
will ordinarily become exercisable on 30(th) October 2023 subject
to satisfaction of performance conditions in relation to revenue
growth, EBITDA growth, cash conversion and increase in share price
over three financial years, and also to the grantee's continued
service to Tungsten.
On the same date, the following award over ordinary shares of
0.438 pence each in Tungsten Corporation Plc was granted to the
following PDMR:
PDMR No. of shares under Award
Tony Bromovsky 376,166
--------------------------
The above award was granted as an exceptional award of nominal
cost options granted on identical terms to an award under the
Tungsten Corporation plc Deferred Share Bonus Plan. The award was
made in recognition of Mr Bromovsky's contribution to the Company
while serving as Executive Chairman in the period from 14 February
2019 to 12 December 2019, and was referenced in the Company's
Annual Report and Accounts for the financial year ended 30(th)
April 2020. The award will vest over a two year period (50% vesting
on the first anniversary of the date of grant, and the remaining
50% will vest on the second anniversary of the date of grant). Mr
Bromovsky is not required to remain with the Company in order for
the award to vest, although the award will be forfeit if Mr
Bromovsky's appointment is terminated for cause or if he leaves as
a good leaver but then starts working for a direct competitor of
the Company.
In addition, on the same date, the following award over ordinary
shares of 0.438 pence each in Tungsten Corporation Plc was granted
to the following PDMR:
PDMR No. of shares under Award
Andrew Lemonofides 71,248
--------------------------
The above award was granted as an exceptional award of nominal
cost options granted on identical terms to an award under the
Tungsten Corporation plc Deferred Share Bonus Plan. The award will
vest in two tranches, 50% on the date of grant and 50% of the first
anniversary of the date of grant, subject to the grantee's
continued service with Tungsten. The award was made pursuant to the
terms of Mr Lemonofides' executive service contract.
The information set out below is provided in accordance with the
requirements of Article 19(3) of the Market Abuse Regulation (EU)
No 596/2014.
Details of the full notifications received by the Company are
set out below.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Andrew Lemonofides
------------------------------- -------------------------------------
2 Reason for Notification
----------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------- -------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name Tungsten Corporation Plc
------------------------------- -------------------------------------
b) LEI 213800KY57NETI1IJ428
------------------------------- -------------------------------------
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 Ordinary Shares of 0.438 pence each
instrument, type of in Tungsten Corporation Plc
instrument
------------------------------- -------------------------------------
Identification code GB00B7Z0Q502
------------------------------- -------------------------------------
b) Nature of the transaction Grant of a nominal cost option award
under the Tungsten Corporation Plc
Long Term Incentive Plan.
------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 1,146,413
----------
------------------------------- -------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- -------------------------------------
e) Date of the transaction 30(th) October 2020
------------------------------- -------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Patrick Clark
------------------------------- --------------------------------------
2 Reason for Notification
-----------------------------------------------------------------------
a) Position/status General Counsel and Company Secretary
------------------------------- --------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Tungsten Corporation Plc
------------------------------- --------------------------------------
b) LEI 213800KY57NETI1IJ428
------------------------------- --------------------------------------
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 Ordinary Shares of 0.438 pence each
instrument, type of in Tungsten Corporation Plc
instrument
------------------------------- --------------------------------------
Identification code GB00B7Z0Q502
------------------------------- --------------------------------------
b) Nature of the transaction Grant of a nominal cost option award
under the Tungsten Corporation Plc
Long Term Incentive Plan.
------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 294,792
----------
------------------------------- --------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- --------------------------------------
e) Date of the transaction 30th October 2020
------------------------------- --------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Tony Bromovsky
------------------------------- --------------------------------------------
2 Reason for Notification
-----------------------------------------------------------------------------
a) Position/status Chairman
------------------------------- --------------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name Tungsten Corporation Plc
------------------------------- --------------------------------------------
b) LEI 213800KY57NETI1IJ428
------------------------------- --------------------------------------------
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 Ordinary Shares of 0.438 pence each
instrument, type of in Tungsten Corporation Plc
instrument
------------------------------- --------------------------------------------
Identification code GB00B7Z0Q502
------------------------------- --------------------------------------------
b) Nature of the transaction Grant of a nominal cost option on identical
terms to an award under the Tungsten
Corporation plc Deferred Share Bonus
Plan.
------------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 376,166
----------
------------------------------- --------------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- --------------------------------------------
e) Date of the transaction 30th October 2020
------------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Andrew Lemonofides
------------------------------- --------------------------------------------
2 Reason for Notification
-----------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------- --------------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name Tungsten Corporation Plc
------------------------------- --------------------------------------------
b) LEI 213800KY57NETI1IJ428
------------------------------- --------------------------------------------
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 Ordinary Shares of 0.438 pence each
instrument, type of in Tungsten Corporation Plc
instrument
------------------------------- --------------------------------------------
Identification code GB00B7Z0Q502
------------------------------- --------------------------------------------
b) Nature of the transaction Grant of a nominal cost option on identical
terms to an award under the Tungsten
Corporation plc Deferred Share Bonus
Plan.
------------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 71,248
----------
------------------------------- --------------------------------------------
d) Aggregated information Not applicable - single transaction
* Aggregated volume
* Price
------------------------------- --------------------------------------------
e) Date of the transaction 30(th) October 2020
------------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- --------------------------------------------
Name of authorised official of issuer responsible for making
notification:
Patrick Clark
Company Secretary to Tungsten Corporation plc
Enquiries
Tungsten Corporation plc
Andrew Lemonofides, Chief Executive Officer +44 20 7280 6980
Canaccord Genu ity Limited (Nominated
Adviser and Broker)
Simon Bridges
Andrew Potts +44 20 7523 8000
Tavistock Communications Financial PR
& IR
Heather Armstrong
Jos Simson
Katie Hopkins +44 20 7920 3150
About Tungsten Corporation plc
Tungsten Corporation (AIM: TUNG) is the world's largest,
compliant business transaction network. A leading global electronic
invoicing and purchase order transactions network; Tungsten's
mission is centred on enabling a touchless invoice process allowing
businesses around the globe to gain maximum value from their
invoice process.
Tungsten processes invoices for 74% of the FTSE 100 and 71% of
the Fortune 500. It enables suppliers to submit tax compliant
e-invoices in 50 countries, and last year processed transactions
worth GBP195bn for organisations such as Caesars Entertainment,
Computacenter, GlaxoSmithKline, Kraft Foods, Mohawk Industries,
Mondelēz International, Procter & Gamble, Shaw Industries,
Unilever and the US Federal Government.
Founded in 2000 and headquartered in London, Tungsten has
offices in the US, Bulgaria and Malaysia, employing over 300
people.
For more information, please visit our website:
https://www.tungsten-network.com/
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END
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November 02, 2020 11:30 ET (16:30 GMT)
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