TIDMIDA
RNS Number : 2396Q
IdaTech PLC
07 April 2009
?
For immediate release
7 April 2009
IdaTech PLC
Director / PDMR Shareholding
The Board of IdaTech announces that on 3 April 2009 the Company
granted Restricted Stock in the ordinary shares of GBP0.01 each in the Company
to Harol Koyama (Chief Executive), to James Cooke (Chief Financial Officer) and
to Senior Management in order to provide an appropriate mechanism to incentivise
and retain these key board members and members of senior management, as follows:
+------------------------+------------------------+------------------------+
| Grantee | Role | Restricted Stock |
| | | Award* |
+------------------------+------------------------+------------------------+
| Harol Koyama | Chief Executive | 153,257 |
+------------------------+------------------------+------------------------+
| James Cooke | Chief Financial | 115,000 |
| | Officer | |
+------------------------+------------------------+------------------------+
| Senior Management (as a Group) | 339,000 |
+-------------------------------------------------+------------------------+
| TOTAL | | 607,257 |
+------------------------+------------------------+------------------------+
* Ordinary shares
Up to two thirds of the Restricted Stock will be awarded on 1 April 2011 with up
to the full award not already awarded on 1 April 2012. These awards are subject
to a performance condition of a doubling of the share price from the price on
the day of award of GBP0.91 to GBP1.82 over a three year period. Up to two
thirds of the grant can be awarded on the second anniversary of the award. On
the third anniversary of grant up to the whole amount of the award, less those
awarded on the second anniversary, can we awarded to the holders. Proportional
awards are allowable, so if the share price increased by 80% (target 100%) over
the three years, then 80% of the grant would be awarded upon the third
anniversary.
Pursuant to the above, the overall interests of Harol Koyama, James Cooke and
the Senior Management Team as a Group in the ordinary shares of GBP0.01 each in
the Company are as follows:
+----------------+-------------+-----------+------------+----------+
| Grantee | Role | Ordinary | Restricted | % of |
| | | Shares | Stock | Total |
| | | | Award* | Fully |
| | | | | Diluted |
| | | | | Voting |
| | | | | Rights |
+----------------+-------------+-----------+------------+----------+
| Harol Koyama | Chief | 140,472 | 783,313 | 1.8% |
| | Executive | | | |
+----------------+-------------+-----------+------------+----------+
| James Cooke | Chief | - | 414,555 | 0.8% |
| | Financial | | | |
| | Officer | | | |
+----------------+-------------+-----------+------------+----------+
| Senior Management (as a | - | 1,291,194 | 2.5% |
| Group) | | | |
+------------------------------+-----------+------------+----------+
| TOTAL | | 140,472 | 2,489,062 | 5.1% |
+----------------+-------------+-----------+------------+----------+
* Ordinary shares
For further information please contact:
+--------------------------------------+--------------------------------+
| IdaTech plc | +1 541 383 3390 |
+--------------------------------------+--------------------------------+
| Harol Koyama, Chief Executive | |
| Officer | |
+--------------------------------------+--------------------------------+
| James Cooke, Chief Financial Officer | |
+--------------------------------------+--------------------------------+
| Numis Securities Limited | +44 (0) 20 7260 1000 |
+--------------------------------------+--------------------------------+
| NOMAD: Michael Meade / Hugh Jonathan | |
+--------------------------------------+--------------------------------+
| Corporate Broking: David Poutney / | |
| Alex Ham | |
+--------------------------------------+--------------------------------+
| Buchanan Communications | +44 (0) 20 7466 5000 |
+--------------------------------------+--------------------------------+
| Charles Ryland / Catherine Breen | |
+--------------------------------------+--------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSEANLKEDXNEFE
|