TIDMNANO
RNS Number : 8264C
Nanoco Group PLC
21 October 2020
21 October 2020
NANOCO GROUP PLC
(" Nanoco ", the "Group" or the "Company" )
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITY AND FORMER EXECUTIVE DIRECTOR
On 21 October 2020 Nanoco Group plc ("Nanoco") granted nil-cost
options over ordinary shares in the Company under the Nanoco Group
2015 Long Term Incentive Plan (the "LTIP") to the directors, other
PDMRs, other staff and a former director as noted below.
Name of Director / PDMR Number of Total number of
options granted options outstanding
Brian Tenner (CEO - Director, PDMR) 2,485,956 4,550,310
----------------- ---------------------
Nigel Pickett (CTO - Director,
PDMR) 1,647,668 4,389,004
----------------- ---------------------
Liam Gray (Company Secretary, PDMR) 543,891 705,819
----------------- ---------------------
Other non-disclosable managers 1,988,730 n/a
----------------- ---------------------
Michael Edelman (special adviser,
former Director) 1,795,922 5,682,048
----------------- ---------------------
Total number 8,462,167 n/a
----------------- ---------------------
Ordinarily the number of options awarded would have been
calculated by reference to the average closing mid-market share
price for the three days after the announcement of the Group's
results for the year ending 31 July 2020. This was 11.3 pence.
However, given the sharp fall in the Group's share price following
the results announcement, the Board felt it appropriate to reflect
this fall in the awards and hence has used the average share price
in the preceding three months to calculate the number of awards to
be made. This was 15.4 pence. The use of the higher price to
calculate the number of awards results in a reduction in the number
of awards to each person of approximately 27%.
The vesting of the options is subject to the achievement of
performance conditions based upon the growth in the Company's share
price over the three year performance period ending 31 July 2023.
The equivalent compound annual growth rate ('CAGR') is shown for
information purposes and is based on the average of the closing
mid-market price of the Company's shares for the three days after
the Group's annual results for the year ending 31 July 2020
(announced on 13 October 2020).
Range Share price (equivalent Proportion of award
CAGR (%)) that will vest
Below threshold Less than 30 pence (<38.3%) Nil
----------------------------- --------------------
Threshold 30 pence (38.3%) 25%
----------------------------- --------------------
Target 40 pence (52.2%) 60%
----------------------------- --------------------
Maximum 50 pence (64.0%) 100%
----------------------------- --------------------
The award to Dr Michael Edelman (who has ceased to be a PDMR) is
in line with the terms agreed around his ceasing to hold office as
CEO and his continuing role as a special adviser to the Group's
Litigation Sub-Committee as announced and disclosed on 1 September
2020. The award to Dr Edelman is subject to the same performance
conditions and other conditions as the awards to all other staff,
including the basis of calculating the number of awards made.
Ordinarily, the options will vest (subject to the achievement of
the performance conditions) following the announcement of Nanoco's
results for its financial year ending 31 July 2023. The options are
then subject to an additional two year holding period. This
notification is made pursuant to Disclosure and Transparency Rule
3.1.4.
For further information please contact:
Liam Gray
Company Secretary
Telephone : +44 (0) 161 603 7900
Notes for editors:
About Nanoco Group plc
Nanoco (LSE: NANO) harnesses the power of nano-materials.
Nano-materials are materials with dimensions typically in the range
1 - 100 nm. Nano-materials have a range of useful properties,
including optical and electronic. Quantum dots are a subclass of
nano-material that have size-dependent optical and electronic
properties. The Group produces quantum dots. Within the sphere of
quantum dots, the Group exploits different characteristics of the
quantum dots to target different performance criteria that are
attractive to specific markets or end-user applications such as the
Display and Electronics markets. One of the interesting properties
of quantum dots is photoluminescence: the emission of longer
wavelength light upon excitation by light of a shorter wavelength.
The colour of light emitted depends on the particle size. Nanoco's
CFQD(R) quantum dots are free of cadmium and other toxic heavy
metals and can be tuned to emit light at different wavelengths
across the visible and infrared spectrum, rendering them useful for
a wide range of applications including displays, lighting and
biological imaging.
Nanoco was founded in 2001 and is headquartered in Manchester,
UK, with a US subsidiary, Nanoco Inc., in Concord, MA. Nanoco
continues to build out a world-class, patent-protected IP portfolio
generated both by its own innovation engine, as well as through
acquisition.
Nanoco is listed on the Main Market of the London Stock Exchange
and trades under the ticker symbol NANO. For further information
please visit: www.nanocotechnologies.com .
Notification of Dealing Form
1. Details of the Person Discharging Managerial Responsibilities
("PDMR") / person closely associated with them ("PCA")
a) Name BRIAN TENNER
2. Reason for the notification
a) Position /status CHIEF EXECUTIVE OFFICER
b) Initial notification INITIAL NOTIFICATION
/ amendment
3. Details of the Issuer
a) Name NANOCO GROUP PLC
b) LEI code 213800HOSJEZO1KOCV33
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) Type of instrument ORDINARY SHARES OF 1O PENCE EACH
Identification
code
ISIN: GB00B01JLR99
b) Nature of the transaction GRANT OF AN OPTION OVER ORDINARY SHARES UNDER
THE NANOCO 2015 LONG TERM INCENTIVE PLAN
c) Price(s) and volume(s) Price(s) Volume(s)
Nil cost 2,485,956
d) Aggregated information: N/A
- Aggregated volume
- Price
e) Date of the transaction 21 OCTOBER 2020
f) Place of the transaction OUTSIDE A TRADING VENUE
Notification of Dealing Form
1. Details of the Person Discharging Managerial Responsibilities
("PDMR") / person closely associated with them ("PCA")
a) Name DR NIGEL PICKETT
2. Reason for the notification
a) Position /status CHIEF TECHNICAL OFFICER
b) Initial notification INITIAL NOTIFICATION
/ amendment
3. Details of the Issuer
a) Name NANOCO GROUP PLC
b) LEI code 213800HOSJEZO1KOCV33
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) Type of instrument ORDINARY SHARES OF 1O PENCE EACH
Identification
code
ISIN: GB00B01JLR99
b) Nature of the transaction GRANT OF AN OPTION OVER ORDINARY SHARES UNDER
THE NANOCO 2015 LONG TERM INCENTIVE PLAN
c) Price(s) and volume(s) Price(s) Volume(s)
Nil cost 1,647,668
d) Aggregated information: N/A
- Aggregated volume
- Price
e) Date of the transaction 21 OCTOBER 2020
f) Place of the transaction OUTSIDE A TRADING VENUE
Notification of Dealing Form
1. Details of the Person Discharging Managerial Responsibilities
("PDMR") / person closely associated with them ("PCA")
a) Name LIAM GRAY
2. Reason for the notification
a) Position /status COMPANY SECRETARY, NANOCO GROUP PLC
b) Initial notification INITIAL NOTIFICATION
/ amendment
3. Details of the Issuer
a) Name NANOCO GROUP PLC
b) LEI code 213800HOSJEZO1KOCV33
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) Type of instrument ORDINARY SHARES OF 1O PENCE EACH
Identification
code
ISIN: GB00B01JLR99
b) Nature of the transaction GRANT OF AN OPTION OVER ORDINARY SHARES UNDER
THE NANOCO 2015 LONG TERM INCENTIVE PLAN
c) Price(s) and volume(s) Price(s) Volume(s)
Nil cost 543,891
d) Aggregated information: N/A
- Aggregated volume
- Price
e) Date of the transaction 21 OCTOBER 2020
f) Place of the transaction OUTSIDE A TRADING VENUE
= =
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END
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