28 March 2024
Idox plc
('Idox' or the 'Group' or the 'Company')
NOTIFICATION AND PUBLIC DISCLOSURE
OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
("PDMRS")
Idox plc (AIM: IDOX), a leading
supplier of specialist information management software and
Geospatial data solutions to the public and asset intensive
sectors, announces that, on 28 March 2024 the following PDMRs (the
"Grantees") received conditional awards over the number of Ordinary
Shares each in the Company ("Ordinary Shares") shown below (the
"Awards"), in accordance with the rules of the Long Term Incentive
Plan 2023 ("2023 LTIP").
Standard Award
|
Name of Director/PDMR
|
Number of Shares Awarded
|
Type of Award
|
|
David Meaden
|
566,251
|
Conditional
|
|
Anoop Kang
|
440,058
|
Conditional
|
|
Jonathan Legdon
|
444,912
|
Conditional
|
|
Ruth Paterson
|
242,682
|
Conditional
|
The vesting and holding period of
each Award is subject to the rules of the 2023 LTIP and the Grantee
agreeing to be bound by the terms of their Award.
The Awards will normally vest on the
third anniversary of the grant date. No consideration is payable by
grantees on either the grant or vesting of the Awards.
Three independent performance
conditions will be used:
o Absolute TSR (50%
weighting)
o Adjusted EPS (25%
weighting)
o Revenue (25% weighting)
The performance condition applying
to half of the Awards (the "TSR Part") will measure the Company's
absolute total shareholder return ("TSR") performance over a
three-year period. The measurement period for the Awards shall
comprise three consecutive financial years of the Company, starting
with the 2024 financial year. No portion of the TSR Part will vest
unless the Company's TSR performance achieves a 5% CAGR over the
measurement period at which point 18.75% of the TSR Part will vest,
rising to 10% at which point 75% of the TSR Part will vest and
thereafter on a straight-line basis to 100% vesting for the
Company's TSR performance achieving a 12% CAGR over the measurement
period.
The performance condition applying
to a separate quarter of the Awards (the "EPS Part") will measure
the Company's adjusted earnings per share performance over a
three-year measurement period starting with the 2024 financial
year. No portion of the EPS Part will vest unless the Company's
adjusted EPS for the 2026 financial year is 2.95p at which point
18.75% of the EPS Part will vest, rising to 3.12p at which point
75% of the EPS Part will vest and thereafter on a straight-line
basis to 100% vesting for the Company's EPS for the 2026 financial
year being 3.21p.
The performance condition applying
to a separate quarter of the Awards (the "Revenue Part") will
measure the company's revenue performance over a three-year
measurement period starting with the 2024 financial year. No
portion of the Revenue Part will vest unless the Company's revenue
for the 2026 financial year is £95.28m, at which point 18.75% of
the Revenue part will vest, rising to £100.78m at which point 75%
of the Revenue Part will vest and thereafter on a straight-line
basis to 100% vesting for the Company's revenue for the 2026
financial year being £103.6m.
The relevant notifications set out
below are provided in accordance with the requirements of Article
19 of the EU Market Abuse Regulation.
For
further information please contact:
|
Idox plc
|
+44 (0) 870 333
7101
|
|
Chris Stone, Non-Executive
Chairman
|
investorrelations@idoxgroup.com
|
|
David Meaden, Chief
Executive
|
|
|
Anoop Kang, Chief Financial
Officer
|
|
|
|
|
|
Peel Hunt LLP (NOMAD and
Broker)
|
+44 (0) 20 7418
8900
|
|
Paul Gillam
|
|
|
Adam Telling
|
|
|
|
|
|
|
|
|
MHP
|
+ 44 (0) 20 3128
8100
|
|
Reg Hoare
|
idox@mhpgroup.com
|
|
Ollie Hoare
|
|
|
Matthew Taylor
|
|
About Idox plc
For more information
see www.idoxplc.com
@Idoxgroup
|
1.
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a.
|
Name
|
David Meaden
|
|
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
|
Idox plc
|
|
b.
|
LEI
|
213800Z3FE6PWVSUGE70
|
|
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
|
|
b.
|
Nature of the transaction
|
Conditional Award of Ordinary
Shares
|
|
c.
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
n/a
|
566,251
|
|
|
d.
|
Aggregated information
·
Aggregated
volume
·
Price
|
|
Price(s)
|
Volume(s)
|
|
n/a
|
566,251
|
|
|
e.
|
Date of the transaction
|
28 March 2024
|
|
f.
|
Place of the transaction
|
Outside a trading venue
|
|
1.
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a.
|
Name
|
Anoop Kang
|
|
2.
|
Reason for the notification
|
|
a.
|
Position/status
|
Chief Financial Officer
|
|
b.
|
Initial notification
/Amendment
|
Initial Notification
|
|
3.
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a.
|
Name
|
Idox plc
|
|
b.
|
LEI
|
213800Z3FE6PWVSUGE70
|
|
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
|
|
b.
|
Nature of the transaction
|
Conditional Award of Ordinary
Shares
|
|
c.
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
n/a
|
440,058
|
|
|
d.
|
Aggregated information
·
Aggregated
volume
·
Price
|
|
Price(s)
|
Volume(s)
|
|
n/a
|
440,058
|
|
|
e.
|
Date of the transaction
|
28 March 2024
|
|
f.
|
Place of the transaction
|
Outside a trading venue
|
|
1.
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a.
|
Name
|
Jonathan Ledgon
|
|
2.
|
Reason for the notification
|
|
a.
|
Position/status
|
Chief Operating Officer
|
|
b.
|
Initial notification
/Amendment
|
Initial Notification
|
|
3.
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a.
|
Name
|
Idox plc
|
|
b.
|
LEI
|
213800Z3FE6PWVSUGE70
|
|
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
|
|
b.
|
Nature of the transaction
|
Conditional Award of Ordinary
Shares
|
|
c.
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
n/a
|
444,912
|
|
|
d.
|
Aggregated information
·
Aggregated
volume
·
Price
|
|
Price(s)
|
Volume(s)
|
|
n/a
|
444,912
|
|
|
e.
|
Date of the transaction
|
28 March 2024
|
|
f.
|
Place of the transaction
|
Outside a trading venue
|
|
1.
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a.
|
Name
|
Ruth Paterson
|
|
2.
|
Reason for the notification
|
|
a.
|
Position/status
|
Chief Legal & Corporate
Officer
|
|
b.
|
Initial notification
/Amendment
|
Initial Notification
|
|
3.
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a.
|
Name
|
Idox plc
|
|
b.
|
LEI
|
213800Z3FE6PWVSUGE70
|
|
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
|
|
b.
|
Nature of the transaction
|
Conditional Award of Ordinary
Shares
|
|
c.
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
n/a
|
242,682
|
|
|
d.
|
Aggregated information
·
Aggregated
volume
·
Price
|
|
Price(s)
|
Volume(s)
|
|
n/a
|
242,682
|
|
|
e.
|
Date of the transaction
|
28 March 2024
|
|
f.
|
Place of the transaction
|
Outside a trading venue
|
