Smartspace Software PLC Grant of, and amendments to, Share Options (5280E)
October 18 2018 - 11:45AM
UK Regulatory
TIDMSMRT
RNS Number : 5280E
Smartspace Software PLC
18 October 2018
18 October 2018
SmartSpace Software Plc
("SmartSpace" or the "Company" or the "Group")
Grant of, and amendments to, Share Options
Further to the announcement of 1 August 2018 of the Grant of EMI
Options to 58 employees of SmartSpace, in order to align Directors
and certain other senior members of SmartSpace, the Company
announces that on 17 October 2018 the remuneration committee agreed
a number of grants to directors and persons discharging managerial
responsibilities ("PDMRs") of EMI options ("Options") and a number
of amendments to the vesting periods of existing Options.
Grant of Options
Options have been granted over a total of 910,000 ordinary
shares of 10p each as follows:
Option over ordinary
Director/PDMR Scheme shares
Frank Beechinor EMI Scheme 265,950
Unapproved Option
Frank Beechinor Scheme 284,050
Spencer Dredge EMI Scheme 265,950
Unapproved Option
Spencer Dredge Scheme 69,050
Rosie Clawson EMI Scheme 25,000
The Options have an exercise price of 94p per share (being the
closing mid-market share price on 17 October 2018, the latest
possible date prior to the date of grant), vest three years from
the date of grant and once vested are exercisable at any time up to
ten years after the date of grant, subject to performance
conditions whereby the average mid-market closing share price of
the Company's Ordinary Shares in any 90 day period in the period to
17 October 2021 is at or above certain defined levels, as
follows:
Share price at or Cumulative
above: % vesting
150p 15%
250p 31%
350p 54%
450p 77%
500p 100%
Spencer Dredge has surrendered existing options over 260,000
ordinary shares with an exercise price of 92p in consideration for
the above option grants.
Amendments to existing Options
In addition, given the significant change in the commercial
strategy of the Group following the disposal of the Systems
Integration and Management Services divisions in June this year,
the remuneration committee has decided to extend the performance
period relating to previously granted options held by Frank
Beechinor (100,000 EMI Options), Guy van Zwanenberg (30,000
Unapproved Options) and Diana Dyer Bartlett (70,000 Unapproved
Options). The options are subject to the same performance set out
above but the period for the performance criteria to be met has
been extended from 31 December 2018 to 17 October 2021.
Following the above, the resulting interests of the Directors in
SmartSpace ordinary shares are as follows:
Position Ordinary Shares Options over
ordinary shares
Non-executive
Guy Van Zwanenberg Chairman 30,000 30,000
--------------- ---------------- -----------------
Frank Beechinor CEO 90,000 650,000
--------------- ---------------- -----------------
Spencer Dredge CFO 32,126 335,000
--------------- ---------------- -----------------
Non-executive
Diana Dyer-Bartlett Director 40,000 70,000
--------------- ---------------- -----------------
Guy van Zwanenberg, Chairman of SmartSpace, commented:
"With the focus now on becoming an international leader in the
fast growing workspace management software market, it is crucial
that we align the interests of all members of the SmartSpace team
with shareholders. The EMI Option Scheme was established to
incentivise management and staff to increase shareholder value over
the long term and the remuneration committee is keen to ensure that
remuneration for the Company's senior team and employees will be
effective, fair and motivate them to deliver success for the
Company and its shareholders. Given the completion of the recently
announced acquisition, we can now extend this to the board and
others"
The notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation, provide further
detail.
Enquiries
SmartSpace Software Plc via Lisa Baderoon
Guy van Zwanenberg (Chairman)
Frank Beechinor (CEO)
Lisa Baderoon (Head of Investor Relations) +44 (0) 7721 413
lbaderoon@smartspaceplc.com 496
Cantor Fitzgerald Europe (Nominated Adviser
& Joint Broker)
Marc Milmo / Catherine Leftley +44 (0)20 7894 7000
About SmartSpace Software Plc
SmartSpace is building a SaaS orientated software business,
designing and building software centering around its 'Connect'
software platform and 'OneSpace' occupancy management software, to
help people work smarter and more efficiently on a global platform.
The Company's software solutions in workspace, retail and
hospitality help transform employee and customer engagement with
software modules which include: desk and meeting room management,
wayfinding, car parking, visitor management, frictionless vending
and space management.
For more information go to: www.smartspaceplc.com
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Company Director/PDMR
Frank Beechinor CEO
-----
Spencer Dredge CFO
-----
Rosie Clawson PDMR
-----
----------------------- -------------------------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------
a) Position/status See 1 (a) above for all positions, all classified
as PDMRs of the Company
----------------------- -------------------------------------------------------------
Initial notification Initial notification
/Amendment
----------------------- -------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------
a) Name Smartspace Software Plc
----------------------- -------------------------------------------------------------
b) LEI 213800IQXZ3XYCMH6U90
----------------------- -------------------------------------------------------------
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 Ordinary Shares of 10p each
of the financial
instrument,
type of instrument
Identification ISIN: GB00BYWN0F98
code
b) Nature of the Grant of share options over Ordinary Shares
transaction
----------------------- -------------------------------------------------------------
c) Price(s) and Exercise price: 94p per Ordinary
volume(s) Share
Volumes: Frank Beechinor 550,000
Spencer Dredge 335,000
--------
Rosie Clawson 25,000
--------
-------------------------------------------------------
d) Aggregated n/a
information
- Aggregated
volume
- Price
e) Date of the 17 October 2018
transaction
----------------------- -------------------------------------------------------------
f) Place of the Off market
transaction
----------------------- -------------------------------------------------------------
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END
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