26
March 2024
Synectics plc
("Synectics" or the
"Company")
Directors / PDMRs' Interests in
Shares
Synectics plc (AIM: SNX), a leader
in advanced security and surveillance systems, announces
that it has made an award of options
("Options") over, in aggregate, 140,000 ordinary shares of 20p each
in the Company ("Ordinary Shares") under its existing Performance
Share Plan ("PSP"), to certain Directors and Persons
Discharging Managerial Responsibility ("PDMRs"), under its existing
Performance Share Plan ("PSP"), as detailed below:
|
Name
|
Position
|
Status
|
Number of
Options
|
|
Paul Webb
|
Chief Executive Officer
|
Executive Director
|
60,000
|
|
Amanda Larnder
|
Chief Financial Officer
|
Executive Director
|
40,000
|
|
David Aindow
|
Business Strategy Director
|
PDMR
|
20,000
|
|
David Gavin
|
Divisional Director
|
PDMR
|
20,000
|
Following these purchases, the above
Directors' and PDMRs' interests in the Ordinary Shares are as
follows:
|
Name
|
Number of Ordinary Shares
held
|
Interest in Ordinary Shares
in share schemes
|
Resultant total
interest
|
% of issued share
capital
|
|
Paul Webb
|
57,115
|
515,079
|
632,194
|
3.55
|
|
Amanda Larnder
|
4,326
|
164,000
|
168,326
|
0.95
|
|
David Aindow
|
2,000
|
80,000
|
82,000
|
0.46
|
|
David Gavin
|
0
|
80,782
|
80,782
|
0.45
|
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.
Vesting of the PSP award
is measured according to the average of the Compound Annual
Growth Rate ("CAGR") of the Total Shareholder Return Index and the
CAGR of Adjusted Underlying Diluted Earnings Per Share. If this
average is 20% or more, 100% of the award will vest. If this
average is above 10% and below 20%, between 0% and 100% of the
award will vest on a straight-line basis. If the average is 10% or
less, 0% of the award will vest.
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 for the Options, 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 2023,
copies of which are available on the Company's
website, www.synecticsplc.com.
For
further information, please contact:
|
Synectics plc
Paul Webb, Chief Executive
Officer
Amanda Larnder, Chief Financial
Officer
Claire Stewart, Company
Secretary
email: info@synecticsplc.com
|
Tel: +44
(0) 114 280 2828
www.synecticsplc.com
|
|
|
|
|
Shore Capital
|
Tel: +44
(0) 20 7408 4090
|
|
Tom Griffiths
/ David Coaten / Rachel Goldstein
|
|
About Synectics plc
Synectics (AIM: SNX) is a leader in
advanced security and surveillance systems that help protect
people, property, communities, and assets around the
world.
The Company's expertise is in
providing solutions for specific markets where security and
surveillance are critical to operations. These include gaming, oil
and gas, public space, transport, and critical
infrastructure.
Synectics has deep industry
experience in these markets and works closely with customers to
deliver solutions that are tailored to meet their needs. Technical
excellence, combined with decades of experience and long-standing
customer relationships, provides fundamental differentiation from
mainstream suppliers and makes the Company a stand-out in its
field.