TIDMCML

RNS Number : 6011O

CML Microsystems PLC

10 February 2021

CML Microsystems Plc

(The 'Company')

Cancellation of Share Options

The Company announces that 57,000 share options over ordinary shares of 5 pence each (the "Ordinary Shares") granted to two PDMRs of the Company (the "Options") were cancelled on 9 February 2021 at the election of the option holders in return for the payment of a one-off cash sum.

Details of the cancellation of the Options are set out below:

 
   PDMR             Role            Number of options    Option exercise   Cash payment 
                                     being surrendered     price (GBP)         (GBP) 
 
 C A Gurry     Group Managing            20,000              GBP2.20        GBP32,400 
                   Director 
 
 H Rudden      Group Sales and           12,000             GBP3.125         GBP8,340 
              Marketing Director 
                                         25,000             GBP3.475         GBP8,625

The cash sum paid has been calculated by reference to the closing price of GBP3.82 per Ordinary Share, being the closing share price on 9 February 2021. Following this cancellation, the remaining share options held by the two PDMRs are set out below:

 
   PDMR             Role            Number of options    Option         Exercise date 
                                        remaining        exercise 
                                                          price 
                                                          (GBP) 
            --------------------                       ---------- 
 C A Gurry     Group Managing            30,000          GBP3.51     15 Sept 2018 to 25 
                   Director                                               Sept 2025 
                                         75,000          GBP2.79    19 Mar 2022 to 18 Mar 
                                                                             2029 
 
 H Rudden      Group Sales and           55,000          GBP5.20    28 Mar 2021 to 28 Mar 
              Marketing Director                                             2028 
                                         75,000          GBP2.79    19 Mar 2022 to 18 Mar 
                                                                             2029

Other share options remain over a total of 1,332,226 Ordinary Shares. These options are exercisable at various prices of between GBP2.20 and GBP5.20 and carry expiry dates ranging to 18 March 2029.

 
CML Microsystems Plc                      www.cmlmicroplc.com 
 Chris Gurry, Group Managing Director      Tel: +44 (0) 1621 875 500 
 Nigel Clark, Group Chairman & Financial 
 Director 
Shore Capital                             Tel: +44 (0) 20 7408 4090 
 Edward Mansfield 
 James Thomas 
 Fiona Conroy - Corporate Broking 
SP Angel Corporate Finance LLP            Tel: +44 (0) 203 463 2260 
 Jeff Keating 
Alma PR                                   Tel: +44 (0) 20 3405 0205 
 Josh Royston 
 Caroline Forde 
 Robyn Fisher

About CML Microsystems PLC

CML develops mixed-signal, RF and microwave semiconductors for global communications markets. The Group utilises a combination of outsourced manufacturing and in-house testing with trading operations in the UK, Asia and USA. CML targets sub-segments within Communication markets with strong growth profiles and high barriers to entry. It has secured a diverse, blue chip customer base, including some of the world's leading commercial and industrial product manufacturers.

The spread of its customers and diversity of the product range largely protects the business from the cyclicality usually associated with the semiconductor industry. Growth in its end markets is being driven by factors such as the appetite for data to be transmitted faster and more securely, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial wireless networks for voice and/or data communications linked to the industrial internet of things (IIoT).

The Group is cash-generative, has no debt and is dividend paying.

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END

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February 10, 2021 04:03 ET (09:03 GMT)

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