Smartspace Software PLC Grant of Share Options & PDMR dealing (1286D)
October 26 2020 - 3:00AM
UK Regulatory
TIDMSMRT
RNS Number : 1286D
Smartspace Software PLC
26 October 2020
26 October 2020
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
SmartSpace Software Plc
("SmartSpace" or the "Company" or the "Group")
Grant of Share Options & PDMR dealing
SmartSpace Software Plc, the leading provider of 'Integrated
Space Management Software' for smart buildings, announces that on
23 October 2020 it granted options ("Options") over a total of
604,500 ordinary shares of 10 pence in the Company ("Ordinary
Shares") to 40 employees ("Employee Options"). Options over a total
of 284,500 Ordinary Shares have been granted to employees under the
Company's Enterprise Management Incentive ("EMI") Share Option
Scheme and options over 320,000 Ordinary Shares have been granted
under the Company's Unapproved Share Option Scheme to employees not
qualifying for the EMI Share Option Scheme.
125,000 of these Options have been granted to Bruce Morrison,
Chief Financial Officer of the Company (the "PDMR Options"), under
the EMI Share Option Scheme. Following the grant of these PDMR
Options, Bruce Morrison now holds Options over 125,000 Ordinary
Shares in the Company.
The Options have an exercise price of 92.5p per share (being the
closing mid-market share price on 23 October 2020), vest three
years from the date of grant (ensuring the employees remain in
continuous employment within the Group for a three year period) and
once vested, are exercisable at any time up to ten years after the
date of grant. In addition, the PDMR Options are 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 23 October 2023 is at or above certain defined
levels, as follows:
Cumulative
Share price at or % vesting
above:
150p 15%
250p 31%
350p 54%
450p 77%
500p 100%
The Board believes that the above performance conditions are a
good measure of value creation and align the Directors' interests
with those of shareholders.
Guy van Zwanenberg, Chairman of SmartSpace commented:
"With the focus now on becoming a leading supplier of software
solutions in workspace management , it is crucial that we align the
interests of all members of the SmartSpace team with shareholders.
The EMI Option Scheme and Unapproved Share Option Scheme were
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."
Enquiries
SmartSpace Software Plc via Lisa Baderoon
Frank Beechinor (CEO) - Head of Investor
Bruce Morrison (CFO) Relations
Lisa Baderoon (Head of Investor Relations)
lbaderoon@smartspaceplc.com +44(0) 7721 413
496
N+1 Singer (NOMAD & Joint Broker)
Shaun Dobson, Head of Corporate Finance
Alex Bond, Corporate Finance
Tom Salvesen, Corporate Broking +44 (0)20 7496 3000
+44 (0) 20 7523
Canaccord Genuity (Joint Broker) 8000
Adam James
Georgina McCooke
About SmartSpace Software Plc
SmartSpace Software Plc is a SaaS-based technology business,
designing and building smart software solutions. The Company's
software solutions in workspace help transform employee and
customer engagement with modules which include desk management,
meeting room management, wayfinding, car parking, visitor
management, and analytics.
The three operating companies in the Group comprise:
-- Space Connect - SaaS Meeting Room and Desk booking (www.spaceconnect.com)
-- SwipedOn - SaaS Visitor Management (www.SwipedOn.com)
-- Anders & Kern - distribution and technical support (www.anders-kern.co.uk)
For more information go to: www.smartspaceplc.com
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
The information set out below is provided in accordance with the
requirements of Article 19(3) of the EU Market Abuse Regulation No
596/2014.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Bruce Morrison
------------------------------- ----------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position / status 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 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 of the Ordinary Shares of 10p each
financial instrument
, type of instrument
ISIN: GB00BYWN0F98
Identification code
------------------------------- ----------------------------------------
b) Nature of the transaction Grant of share options over Ordinary
Shares
------------------------------- ----------------------------------------
c) Price(s) and volume(s) Price Volume
------------------------------- ---------------------------- ----------
Exercise price:
92.5p per Ordinary
Share 125,000
----------------------------------------------------------------- ----------
d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------- ----------------------------------------
e) Date of the transaction 23 October 2020
------------------------------- ----------------------------------------
f) Place of the transaction Off market
------------------------------- ----------------------------------------
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END
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