Redcentric PLC Grant of Options and Director/PDMR Shareholding (0935N)
September 20 2023 - 10:08AM
UK Regulatory
TIDMRCN
RNS Number : 0935N
Redcentric PLC
20 September 2023
Redcentric plc
Grant of Options and PDMR Shareholding
Redcentric plc (AIM: RCN) ("Redcentric" or the "Company"), a
leading UK IT managed services provider, announces that it has
granted a total of 2,040,861 options over new ordinary shares of
0.1 pence each in the Company ("Ordinary Shares") under the
Company's 2016 Long Term Incentive Plan ("LTIP Options"). The LTIP
Options are three-year, nominal cost (0.1p) options and subject to
continued employment and the meeting of certain performance
conditions described below. 952,650 of the LTIP Options were
granted to executive directors of the Company as follows:
-- 605,620 LTIP Options were granted to Peter Brotherton, Chief
Executive Officer of the Company, following which Mr. Brotherton
holds a total of 1,799,219 options over Ordinary Shares and 437,136
Ordinary Shares (representing approximately 0.28% of the Company's
issued voting share capital); and
-- 347,030 LTIP Options were granted to David Senior, Chief
Financial Officer of the Company, following which Mr. Senior holds
a total of 1,011,396 options over Ordinary Shares and 106,550
Ordinary Shares (representing approximately 0.07% of the Company's
issued voting share capital).
The LTIP Options in respect of the executive directors have a
value equal to 200% of salary with the first 100% of salary based
on absolute Total Shareholder Return ("TSR") between 5% and 10%
p.a. and the additional 100% of salary based on stretch absolute
TSR targets of 10% to 15% p.a.
Following the grant of the LTIP Options, there are options
outstanding over 6,351,922 Ordinary Shares, representing 4.1% of
the Company's issued voting share capital.
The notifications below, made in accordance with the
requirements of the Market Abuse Regulation, provide further
detail.
Enquiries:
Redcentric plc
Peter Brotherton, Chief Executive Officer +44 (0)800 983
David Senior, Chief Financial Officer 2522
finnCap Ltd - Nomad and Sole Broker
Marc Milmo / Simon Hicks / Charlie Beeson
(Corporate Finance) +44 (0)20 7220
Andrew Burdis / Sunila de Silva (ECM) 0500
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Peter Brotherton
-------------------------------- ------------------------------------------------
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 Redcentric plc
-------------------------------- ------------------------------------------------
b) Legal Entity 213800FGYMMNE9OKFD14
Identifier
-------------------------------- ------------------------------------------------
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 Options over new ordinary shares of 0.1p each
of the financial
instrument,
type of instrument GB00B7TW1V39
Identification
code
-------------------------------- ------------------------------------------------
b) Nature of Grant of options
the transaction
-------------------------------- ------------------------------------------------
c) Currency GBP
-------------------------------- ------------------------------------------------
d) Price(s) and Price (exercise) Volume(s)
volume(s)
-------------------------------- ------------------------------ ----------------
0.1p 605,620
------------------------------------- ------------------------------ ----------------
e) Aggregated N/A - single transaction
information
- Aggregated
volume
- Price
- Aggregated
total
-------------------------------- ------------------------------------------------
f) Date of the 19 September 2023
transaction
-------------------------------- ------------------------------------------------
g) Place of the Outside of a trading venue
transaction
-------------------------------- ------------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name David Senior
-------------------------------- ------------------------------------------------
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 Redcentric plc
-------------------------------- ------------------------------------------------
b) Legal Entity 213800FGYMMNE9OKFD14
Identifier
-------------------------------- ------------------------------------------------
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 Options over new ordinary shares of 0.1p each
of the financial
instrument, GB00B7TW1V39
type of instrument
Identification
code
-------------------------------- ------------------------------------------------
b) Nature of Grant of options
the transaction
-------------------------------- ------------------------------------------------
c) Currency GBP
-------------------------------- ------------------------------------------------
d) Price(s) and Price (exercise) Volume(s)
volume(s)
-------------------------------- ------------------------------ ----------------
0.1p 347,030
------------------------------------- ------------------------------ ----------------
e) Aggregated N/A - single transaction
information
- Aggregated
volume
- Price
- Aggregated
total
-------------------------------- ------------------------------------------------
f) Date of the 19 September 2023
transaction
-------------------------------- ------------------------------------------------
g) Place of the Outside of a trading venue
transaction
-------------------------------- ------------------------------------------------
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END
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