TIDMPHD
RNS Number : 0927P
PROACTIS Holdings PLC
29 August 2017
Date: 29 August 2017
On behalf of: PROACTIS Holdings PLC
Embargoed until: 0700hrs
PROACTIS Holdings PLC
Grant of Awards and Options
PROACTIS Holdings PLC ("PROACTIS", the "Group" or the
"Company"), the specialist spend management solution provider,
announces that it has granted awards ("Awards") and options
("Options") over ordinary shares of 10 pence in the capital of the
Company ("Ordinary Shares") to certain Directors and persons
discharging managerial responsibility ("PDMR's") of the Company
(the Options and the Awards together, the "Grant"), as set out in
the Company's admission document of 7 July 2017 (the "Admission
Document") regarding, inter alia, the acquisition of Perfect
Commerce, LLC ("Perfect Commerce").
The following Directors have been granted Awards and/or
Options:
Name Role Total maximum Maximum number
number of of Awards and
Awards and Options held
Options after the Grant
granted
---------------- ------ -------------- -----------------
Hamp Wall CEO 369,318 369,318
---------------- ------ -------------- -----------------
Tim Sykes CFO 679,114 1,600,074
---------------- ------ -------------- -----------------
Sean McDonough COO 181,818 1,327,778
---------------- ------ -------------- -----------------
The Company has granted Awards under the PROACTIS Group
Long-Term Incentive Plan 2017 over a maximum of 518,939 Ordinary
Shares as follows (the "LTIP Awards"):
- 246,212 Awards were granted to Hamp Wall;
- 151,515 Awards were granted to Tim Sykes; and
- 121,212 Awards were granted to Sean McDonough.
The LTIP Awards are granted at a price of 10 pence per Ordinary
Share and vest in accordance with performance targets linked to
share price performance above 165 pence per Ordinary Share and
earnings per share growth over the period to 30 November 2020.
In addition, the Company has granted Awards under the PROACTIS
Group Executive Bonus Plan 2017 over a maximum of 259,469 Ordinary
Shares as follows (the "Executive Bonus Plan Awards"):
- 123,106 Awards were granted to Hamp Wall;
- 75,757 Awards were granted to Tim Sykes; and
- 60,606 Awards were granted to Sean McDonough.
The Executive Bonus Plan Awards are granted at a price of 10
pence per Ordinary Share and vest in accordance with performance
targets linked to share price performance above 165 pence per
Ordinary Share and EBITDA growth over the period to 30 November
2018.
Further details on the LTIP Awards and the Executive Bonus Plan
Awards are set out in Paragraph 6 of Part VII of the Admission
Document.
Furthermore, the Company has granted 451,842 Options to Tim
Sykes. These Options are granted at a price of 43 pence per
Ordinary Share and replace those granted to Tim Sykes on 2 June
2006 and which subsequently lapsed whilst the Company was in a
close period such that Mr Sykes was unable to exercise these
Options. The performance targets for the lapsed Options had all
been met prior to their lapsing and, therefore, these replacement
Options vest immediately and unconditionally.
Following the Grant, there are a total of 4,169,838 Awards and
Options outstanding, representing approximately 4.50 per cent. of
the current issued share capital of the Company.
Further detail is set out in the PDMR disclosure tables
below.
For further information, please contact:
PROACTIS Holdings PLC
Hamp Wall, Chief Executive Officer Via Redleaf
Tim Sykes, Chief Financial Officer Communications
Redleaf Communications
Elisabeth Cowell 0207 382 4730
Sam Modlin proactis@redleafpr.com
finnCap Ltd
Stuart Andrews / Carl Holmes -
Corporate Finance 0207 220 0500
Stephen Norcross / Simon Johnson
- Corporate Broking
Notes to Editors:
PROACTIS is headquartered in London with offices in the UK,
North America, Mainland Europe and New Zealand. It creates, sells
and maintains specialist software which enables organisations to
streamline, control and monitor indirect expenditure. It is used in
over 1,000 organisations around the world from the commercial,
public and not-for-profit sectors.
PROACTIS floated on the AIM market of the London Stock Exchange
in June 2006.
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) Names Hamp Wall - Chief Executive
Officer
Tim Sykes - Chief Financial
Officer
Sean McDonough - Chief Operating
Officer
--- ------------------------- ----------------------------------------
2. Reason for the Notification
--- -------------------------------------------------------------------
a) Position/status See 1 (a) above - PDMR's of
the Company
--- ------------------------- ----------------------------------------
b) Initial notification/ Initial Notification
Amendment
--- ------------------------- ----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -------------------------------------------------------------------
a) Name PROACTIS Holdings PLC
--- ------------------------- ----------------------------------------
b) LEI 213800NXO5KK2YWNRJ19
--- ------------------------- ----------------------------------------
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 Awards/Options over ordinary
the Financial shares of 10 pence
instrument, type
of instrument
---
Identification GB00B13GSS58
code
--- ------------------------- ----------------------------------------
b) Nature of the Grant of Awards/Options
transaction
--- ------------------------- ----------------------------------------
c) Price(s) and Hamp Wall
volume(s) Grant of Awards Price(s) Volume(s)
---------- ----------
n/a 369,318
---------- ----------
Tim Sykes
Grant of Awards Price(s) Volume(s)
---------- ----------
n/a 227,272
---------- ----------
Grant of Options Price(s) Volume(s)
---------- ----------
n/a 451,842
---------- ----------
Sean McDonough
Grant of Awards Price(s) Volume(s)
---------- ----------
n/a 181,818
---------- ----------
--- ------------------------- ----------------------------------------
d) Aggregated information: See 4 (c) above
* Aggregated volume
* Price
--- ------------------------- ----------------------------------------
e) Date of the transaction 25 August 2017
--- ------------------------- ----------------------------------------
f) Place of the Outside a trading venue
transaction
--- ------------------------- ----------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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