Shearwater Group PLC Grant of Options and Director/PDMR Dealing (3655B)
February 11 2022 - 1:00AM
UK Regulatory
TIDMSWG
RNS Number : 3655B
Shearwater Group PLC
11 February 2022
11 February 2022
Shearwater Group PLC
("Shearwater" or the "Group")
Grant of Options and Director/PDMR Dealing
Shearwater Group plc (AIM: SWG), the organisational resilience
group that provides cybersecurity, advisory and managed security
services, announces the grant of options to acquire, in aggregate,
up to 668,110 ordinary shares of 10 pence each (the "Options") to a
broad range of the Group's employees. The Options have been granted
to ensure that the Group's employees are well motivated and
identify closely with the success of the Group.
Options to acquire up to 640,714 shares have been granted under
the newly-adopted Shearwater Group Company Share Option Plan (the
"CSOP") and Options to acquire up to 27,396 shares have been
granted under the existing Shearwater Group Employee Share Option
Plan (the "ESOP"). Options granted under the CSOP are intended to
benefit from tax reliefs, whereas Options granted under the ESOP do
not qualify for these reliefs.
The Options will be exercisable from vesting until the fifth
anniversary of grant at a price of GBP0.95 per new ordinary share,
a price equal to the closing mid-market price per Shearwater
ordinary share on 9 February 2022.
Subject to the satisfaction of performance conditions and
continued employment, where applicable, the Options will vest as to
89,998 shares on the first anniversary of grant, 11,112 shares on
10 September 2023 and 567,000 shares on the third anniversary of
grant.
An Option over 25,000 shares has been granted under the CSOP to
Paul McFadden, the Group's Chief Financial Officer and the
notification below, made in accordance with the UK Market Abuse
Regulation, provides further details in this regard.
Number of Exercise Vesting date* Expiry date
shares under price
Director Position option
Paul McFadden CFO 25,000
GBP0.95 10 February 10 February
2025 2027
--------- -------------------- ---------- -------------- --------------
*subject to the satisfaction of performance conditions
Following the grant of the Options, the Group has options
outstanding over a total of 909,862 shares, which represent
approximately 3.9% of the Company's existing issued ordinary share
capital.
Enquiries:
Shearwater Group plc www.shearwatergroup.com
David Williams c/o Alma PR
Phil Higgins
Cenkos Securities plc - NOMAD and
Joint Broker
Ben Jeynes / Max Gould - Corporate
Finance
Julian Morse / Michael Johnson
- Sales +44 (0) 20 7397 8900
Berenberg - Joint Broker
Matthew Armitt / Mark Whitmore +44 (0) 20 3207 7800
Alma PR shearwater@almapr.co.uk
Susie Hudson / Caroline Forde / +44 (0) 20 3405 0205
Joe Pederzolli
The Company makes the following disclosures in accordance with
article 19(3) of the Market Abuse Regulation:
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Paul McFadden
-------------------------- ---------------------------------------
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 Shearwater Group plc
-------------------------- ---------------------------------------
b) LEI 213800ZRUKUYDJLKD504
-------------------------- ---------------------------------------
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 of the Ordinary shares of 10 pence each
financial instrument,
type of instrument GB00BKT6VH21
Identification code
-------------------------- ---------------------------------------
b) Nature of the transaction Grant of share option under the
Shearwater Group Company Share Option
Plan
-------------------------- ---------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
nil 25,000
----------
-------------------------- ---------------------------------------
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price
-------------------------- ---------------------------------------
e) Date of the transaction 10 February 2022
-------------------------- ---------------------------------------
f) Place of the transaction Outside of a trading venue
-------------------------- ---------------------------------------
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END
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