Xaar PLC Grant of Options (7273X)
01 May 2019 - 7:15PM
UK Regulatory
TIDMXAR
RNS Number : 7273X
Xaar PLC
01 May 2019
Xaar plc (the "Company")
Grant of Options
The Company announces that on 30 April 2019 the Executive
Directors of the Company were granted the following nil priced
share options over ordinary shares of 10 pence each in the Company
("Ordinary Shares") under the terms of the Xaar 2017 Long Term
Incentive Plan ("LTIP"):
Name No. of options* granted Total no. of options**
over Ordinary Shares held post grant
Doug Edwards 309,880 919,477
Shomit Kenkare 103,293 113,293
* Options granted under the LTIP scheme.
** Options granted under all schemes.
This grant was approved by the Remuneration Committee on 15
April 2019.
No consideration was paid for the grant of any of the options,
or is due on the exercise of options granted under the LTIP scheme.
These options carry certain specific and stretching performance
criteria which must be achieved prior to vesting, which is 3 years
after the date of grant. 34% of the vested options are exercisable
3 years after the date of grant, with 33% exercisable 4 and 5 years
after the date of grant respectively. The options will expire on
the tenth anniversary of the date of grant.
Taking into account the current share price and the recent
decline, the Remuneration Committee has used its discretion to
scale back the grant from the maximum allowed in the policy.
The FCA notification, made in accordance with the requirements
of the EU Market Abuse Regulation is appended below and gives
further details on the transactions described above.
Enquiries:
Xaar plc
Camila Cottage, Company Secretary +44 (0)1223 423 663
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name 1. Doug Edwards
2. Shomit Kenkare
------------------------------------- ------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------------
a) Position/status 1. Chief Executive Officer
2. Chief Financial Officer
------------------------------------- ------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------------- ------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------
a) Name Xaar plc
------------------------------------- ------------------------------------------
b) LEI 213800MXEC3KAOBBPO57
------------------------------------- ------------------------------------------
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 Ordinary shares of 10 pence each
financial instrument,
type of instrument
Identification code GB0001570810
b) Nature of the transaction Grant of Options under the Xaar plc
2017 Long Term Incentive Plan
------------------------------------- ------------------------------------------
c) Price(s) and volume(s)
------------------- ------------------
Price(s) Volume(s)
------------------- ------------------
1. GBPnil 1. 309,880
-------------------------------------------------------------- ------------------
2. GBPnil 2. 103,293
-------------------------------------------------------------- ------------------
d) Aggregated information
- Aggregated volume 1. 309,880
2. 103,293
- Price 1. GBPnil
2. GBPnil
e) Date of the transaction 1. 30 April 2019
2. 30 April 2019
-------------------------------------------------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- ------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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