Ideagen PLC 2018 Long Term Incentive Plan awards (8232E)
October 23 2018 - 1:00AM
UK Regulatory
TIDMIDEA
RNS Number : 8232E
Ideagen PLC
23 October 2018
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Ideagen PLC
("Ideagen," "the Company" or the "Group")
2018 Long Term Incentive Plan awards
Ideagen PLC (AIM: IDEA), a leading supplier of Information
Management software to highly regulated industries, announces the
award of 1,200,000 share options over the Company's ordinary shares
of 1p each ("Ordinary Shares") to Ben Dorks, Chief Executive
Officer, under the Company's 2018 Long Term Incentive Plan ("2018
LTIP").
On 23 March 2017, the Company made awards to certain directors
of share options pursuant to the terms of the 2017 Long Term
Incentive Plan ("2017 LTIP").
These share options were issued with the principal aim, which
has now been achieved, of becoming fully exercisable on the Company
achieving a share price of 136 pence, which represented a doubling
of the share price from the 68 pence condition set in the previous
Long Term Incentive Plan.
The principles underpinning the 2018 LTIP are similar to the
2017 LTIP insofar as the awards will be subject to the following
challenging performance criteria: one half become eligible to vest
on the Company's share price reaching 196 pence over 30 consecutive
business days with the remainder becoming eligible to vest on the
Company's share price reaching 259 pence over 30 consecutive
business days.
Options issued pursuant to the 2018 LTIP will not vest until the
third anniversary of the grant date. Thereafter, any Ordinary
Shares issued in respect of the exercise of any of these options
cannot be sold until the fourth anniversary of the grant date
except to meet the taxation costs arising on the exercise of those
options. They are also subject to continued service throughout as
well as the aforementioned achievement of specific performance
targets relating to the Company's share price. These options each
have an exercise price of 1 penny per Ordinary Share.
Following the award of these options, there are now 9,283,333
options over Ordinary Shares in issue representing 4.2% of the
issued share capital of the Company.
Enquiries:
Ideagen plc 01629 699100
David Hornsby, Executive Chairman
Ben Dorks, Chief Executive Officer
Graeme Spenceley, Finance Director
finnCap Limited 020 7220 0500
Stuart Andrews/Henrik Persson/James Thompson
(Nomad)
Alice Lane (ECM)
About Ideagen plc
Ideagen is a UK-headquartered, global technology company quoted
on the London Stock Exchange AIM market (Ticker: IDEA.L).
The Group provides software and services to organisations
operating within highly regulated industries such as aviation,
banking and finance and life science, with its main operational
premises spread throughout the UK, EU, US, Middle East and SE
Asia.
With an excellent portfolio of software products including
Q-Pulse, Coruson, Pentana Audit, Pentana Performance and
PleaseReview, Ideagen helps its clients reduce costs, improve
operational efficiency, strengthen compliance and oversight and
anticipate and manage every detail of risk.
Currently, more than 3,700 organisations use Ideagen's products
including seven of the top 10 UK accounting firms, all of the top
aerospace and defence companies and 75% of the world's leading
pharmaceutical firms.
Ideagen's diverse and varied customer base includes many
well-known, global brands such as British Airways, Aggreko, BAE,
Ryanair, US Navy, KLM, BBVA, Bank of New York, Commerzbank,
Meggitt, Heineken, Johnson Matthey, Haeco Group and European
Central Bank. As well as this, Ideagen counts 180 hospitals across
the UK and US amongst its client base.
For further information please visit www.ideagen.com.
1. Details of the person discharging managerial responsibilities/person closely associated
a) Name: Ben Dorks
2. Reason for the notification
a) Position/status: Chief Executive Officer
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name: Ideagen plc
b) LEI: 213800KS1MLITOVNYC85
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 financial instrument, type of Ordinary shares of 1 penny each
instrument:
Identification code: GB00B0CM0C50
b) Nature of the transaction: Award of share options
c) Price(s) and volume(s): 1,200,000 options over ordinary shares of 1 pence each
awarded
d) Aggregated information: 1,200,000 options over ordinary shares of 1 pence each
-- Aggregated volume: awarded
-- Price:
e) Date of the transaction: 22 October 2018
f) Place of the transaction: Off market transaction
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.
END
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