TIDMELCO
RNS Number : 1728Z
Eleco PLC
12 May 2023
12 May 2023
Eleco Plc
("Eleco", "Group" or the "Company")
Grant of Options
Eleco plc (AIM: ELCO), the AIM-listed construction and building
software specialist, announces that on 11 May 2023 the Remuneration
Committee granted a total of 975,000 options over ordinary shares
of 1 pence each (the "Ordinary Shares") in the Company under the
Eleco 2014 Share Option Plan (the "Options").
250,000 Options were granted to Jonathan Hunter, CEO of the
Company. Of these, 150,000 Options are market priced, which have no
vesting criteria other than to remain in employment by the Group
and shall vest after 3 years. 100,000 Options are nominal cost
options which shall vest after 3 years if certain performance
criteria related to recurring revenue growth and overall revenue
growth are met. To fully vest, Eleco will need to deliver
significant revenue growth from current levels.
275,000 Options were granted Neil Pritchard, CFO of the Company.
Of these, 100,000 are market priced options, which have no vesting
criteria other than to remain in employment by the Group and shall
vest after 3 years. A further 100,000 Options are market-priced,
awarded as part of his original contract. 75,000 Options are
nominal cost which shall vest after 3 years if certain performance
criteria related to recurring revenue growth and overall revenue
growth are met. To fully vest, Eleco will need to achieve
significant revenue growth from current levels.
The remaining 450,000 Options were granted to various employees
of the Company, which are market priced options with no vesting
criteria other than to remain in employment by the Group and shall
vest after 3-years.
All market priced options are exercisable at 80.5 pence. All
Options will lapse on 10 May 2033. Details of Directors and Persons
Discharging Managerial Responsibility ("PDMR") awards are included
in the disclosure notices at the end of this announcement.
Director/PDMR Options issued Total options held
post issue
Jonathan Hunter 250,000 1,100,000
--------------- -------------------
Neil Pritchard 275,000 275,000
--------------- -------------------
Birgit Lenton 60,000 160,000
--------------- -------------------
Luben Kirov 60,000 160,000
--------------- -------------------
Following the issue of the Options, the total number of options
in issue post award is 3,625,000, representing approximately 4.4%
of the Company's issued share capital.
Enquiries:
+44 (0)20 7422
Eleco plc 8000
Jonathan Hunter, Chief Executive Officer
Neil Pritchard, Chief Financial Officer
+44 (0)20 7220
finnCap Limited 0500
Geoff Nash / Emily Watts / Seamus Fricker
(Corporate Finance)
Charlotte Sutcliffe / Harriet Ward (Equity
Capital Markets)
+44 (0)20 3757
SEC Newgate UK 6882
Elisabeth Cowell / Bob Huxford eleco@secnewgate.co.uk
About Eleco plc
Eleco plc is an AIM-listed (AIM: ELCO) specialist international
provider of software and related services to the built environment
through its operating brands Elecosoft and Veeuze from centres of
excellence in the UK, Sweden, Germany, the Netherlands and the
US.
The Company's software solutions are trusted by international
customers and used throughout the building lifecycle from early
planning and design stages to construction, interior fit out, asset
management and facilities management to support project management,
estimation, visualisation, Building Information Modelling (BIM) and
property management.
For further information please visit www.eleco.com .
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1. Details of PDMR / person closely associated with them
('PCA')
a) Name Jonathan Hunter
--------------------------------- -----------------------------------
2. Reason for the Notification
----------------------------------------------------------------------
a) Position / status Chief Executive Officer
--------------------------------- -----------------------------------
b) Initial notification Initial notification
/amendment
--------------------------------- -----------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name Eleco plc
--------------------------------- -----------------------------------
b) LEI 21380016GT9Z6ZQX4T37
--------------------------------- -----------------------------------
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 Ordinary shares of 1p each
the financial instrument,
type of instrument
--------------------------------- -----------------------------------
Identification GB0003081246
code
--------------------------------- -----------------------------------
b) Nature of the transaction Grant of options
--------------------------------- -----------------------------------
c) Price(s) and volume(s) Name Price(s) Volume(s)
Jonathan
Hunter 1p 100,000
80.5p 150,000
d) Aggregated information: n/a
Aggregated volume
Price
--------------------------------- -----------------------------------
e) Date of the transaction 11 May 2023
--------------------------------- -----------------------------------
f) Place of the transaction Outside of a trading venue
--------------------------------- -----------------------------------
1. Details of PDMR / person closely associated with them
('PCA')
a) Name Neil Pritchard
----------------------------- ---------------------------------------
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 Eleco plc
----------------------------- ---------------------------------------
b) LEI 21380016GT9Z6ZQX4T37
----------------------------- ---------------------------------------
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 Ordinary shares of 1p each
the financial instrument,
type of instrument
----------------------------- ---------------------------------------
Identification GB0003081246
code
----------------------------- ---------------------------------------
b) Nature of the transaction Grant of options
----------------------------- ---------------------------------------
c) Price(s) and volume(s) Name Price(s) Volume(s)
Neil Pritchard 1p 75,000
80.5p 200,000
d) Aggregated information:
Aggregated volume n/a
Price
----------------------------- ---------------------------------------
e) Date of the transaction 11 May 2023
----------------------------- ---------------------------------------
f) Place of the transaction Outside of a trading venue
----------------------------- ---------------------------------------
1. Details of PDMR / person closely associated with them
('PCA')
a) Name Birgit Lenton
------------------------------ ------------------------------------------
2. Reason for the Notification
--------------------------------------------------------------------------
a) Position / status Group Transformation Director / PDMR
------------------------------ ------------------------------------------
b) Initial notification Initial notification
/amendment
------------------------------ ------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Eleco plc
------------------------------ ------------------------------------------
b) LEI 21380016GT9Z6ZQX4T37
------------------------------ ------------------------------------------
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 Ordinary shares of 1p each
the financial instrument,
type of instrument
------------------------------ ------------------------------------------
Identification GB0003081246
code
------------------------------ ------------------------------------------
b) Nature of the transaction Grant of options
------------------------------ ------------------------------------------
c) Price(s) and volume(s) Name Price(s) Volume(s)
Birgit Lenton 80.5p 60,000
d) Aggregated information:
Aggregated volume n/a
Price
------------------------------ ------------------------------------------
e) Date of the transaction 11 May 2023
------------------------------ ------------------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------ ------------------------------------------
1. Details of PDMR / person closely associated with them
('PCA')
a) Name Luben Kirov
------------------------------- -------------------------------------
2. Reason for the Notification
----------------------------------------------------------------------
a) Position / status Chief Technology Officer / PDMR
------------------------------- -------------------------------------
b) Initial notification Initial notification
/amendment
------------------------------- -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name Eleco plc
------------------------------- -------------------------------------
b) LEI 21380016GT9Z6ZQX4T37
------------------------------- -------------------------------------
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 Ordinary shares of 1p each
the financial instrument,
type of instrument
------------------------------- -------------------------------------
Identification GB0003081246
code
------------------------------- -------------------------------------
b) Nature of the transaction Grant of options
------------------------------- -------------------------------------
c) Price(s) and volume(s) Name Price(s) Volume(s)
Luben Kirov 80.5p 60,000
d) Aggregated information: n/a
Aggregated volume
Price
------------------------------- -------------------------------------
e) Date of the transaction 11 May 2023
------------------------------- -------------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------- -------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHDFLFFXELXBBD
(END) Dow Jones Newswires
May 12, 2023 02:00 ET (06:00 GMT)
Eleco Public (LSE:ELCO)
Historical Stock Chart
From Apr 2024 to May 2024
Eleco Public (LSE:ELCO)
Historical Stock Chart
From May 2023 to May 2024
