Synectics PLC PDMR's Interest in Shares (0889R)
March 04 2021 - 01:00AM
UK Regulatory
TIDMSNX
RNS Number : 0889R
Synectics PLC
04 March 2021
RNS 4 March 2021
Synectics plc
("Synectics" or the "Group")
PDMR's Interest in Shares
Synectics plc (AIM: SNX), a leader in the design, integration
and support of advanced security and surveillance systems,
announces that on 3 March 2021 it made an award of options
("Options"), in aggregate, over 20,000 ordinary shares of 20p each
in the Company ("Ordinary Shares") to David Gavin, a Person
Discharging Managerial Responsibility ("PDMRs"), under its existing
Performance Share Plan ("PSP"), as detailed below:
Following the award, Mr Gavin's total interests in Ordinary
Shares comprise:
Name Number of Ordinary Interest in Resultant total % of issued
Shares held Ordinary Shares interest in share capital
in Synectics Ordinary Shares
plc share schemes
David Gavin 0 20,000 20,000 0.11%
-------------------- ------------------- ----------------- ---------------
Under the PSP, selected employees are entitled to exercise an
option to receive a certain number of Ordinary Shares at any time
after a three-year vesting period, exercisable at nil cost. The
number of Ordinary Shares that are awarded at the end of the
three-year period is dependent on the achievement of certain
performance criteria and must be exercised within ten years of the
date of award.
The performance criteria will be measured according to the
average of the Compound Annual Growth Rate ("CAGR") of the Total
Shareholder Return and the CAGR of Adjusted Underlying Diluted
Earnings Per Share for periods of three years. If this average is
25% or more, 100% of that tranche of Options will vest. If this
average is above 15% and below 25%, between 0% and 100% of the
Options will vest (on a straight-line basis). The baseline for
calculating the CAGR of Total Shareholder Return is GBP1.375 per
share, and the baseline for calculating the CAGR of Adjusted
Underlying Diluted Earnings Per Share is 11.87 pence per share
(being the actual equivalent adjusted earnings per share of the
Company in the financial year to 30 November 2019).
The limit on the number of Ordinary Shares over which options
may be awarded remains unchanged.
Any entitlement under the PSP will lapse on cessation of
employment prior to the end of the three-year vesting period,
unless cessation of employment is by reason of redundancy, ill
health or death.
Should the performance criteria be met in full or in part, it is
intended that the appropriate number of Options will be satisfied
firstly from any unallocated Ordinary Shares already held within
the Company's employee benefit trust with the balance to be
satisfied from a new issue of Ordinary Shares.
Full details of the PSP were set out in the Company's Annual
Report for the year ended 30 November 2019, copies of which are
available on the Company's website, www.synecticsplc.com .
For further information, please contact:
Synectics plc Tel: +44 (0) 114 280 2828
Claire Stewart, Company Secretary
email: info@synecticsplc.com www.synecticsplc.com
Shore Capital Tel: +44 (0) 20 7408 4050
Tom Griffiths / David Coaten
/ Henry Willcocks
Ends
About Synectics plc
Synectics (AIM: SNX) is a leader in the design, integration and
support of advanced security and surveillance systems that enable
clients around the world to protect their people, communities, and
assets.
Founded over 30 years ago, Synectics has deep industry
experience across gaming, energy, urban transport, public space and
critical infrastructure projects. The Group's expert engineering
teams work in partnership with customers to create integrated
product and technology solutions, proven in the most complex and
demanding operating environments.
Find out more at www.synecticsplc.com
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