TIDMTRAK
RNS Number : 8085R
Trakm8 Holdings PLC
05 March 2019
For immediate release 5 March 2019
Trakm8 Holdings plc
('Trakm8' or the 'Company')
Award of options
Trakm8 Holdings plc (AIM: TRAK), a leading telematics and data
supplier to global markets, announces that today, following a
review of its remuneration for directors and senior management, new
options ("New Options") have been granted and existing options have
been reissued ("Reissued Options", and, together with the New
Options, the "Options Grant") over ordinary shares of 1 pence each
in the capital of the Company ("Ordinary Shares") to certain
directors and employees of the Company as outlined below.
New Options
The following New Options have been awarded to certain directors
of the Company:
Director / PDMR Position Number of Exercise
Options granted price*
John Watkins Executive Chairman 125,000 33.5p
------------------------- ----------------- ---------
Jon Furber Group Finance Director 125,000 33.5p
------------------------- ----------------- ---------
Mark Watkins Chief Operating Officer 125,000 33.5p
------------------------- ----------------- ---------
Bill Duffy Non-Executive Director 50,000 33.5p
------------------------- ----------------- ---------
*Issued at a 20% premium to the mid-market closing share price
on 4 March 2019
Vesting conditions: The New Options vest on 5 March 2022 and
require that the recipients remain in employment with the Company
at the date of exercise. All of the above New Options may only be
exercised if the mid-market share price is 50 pence or more at the
time of exercise.
Reissued Options
The following directors and PDMRs have had certain existing
options cancelled and the following Reissued Options granted, such
that number of options cancelled equal the number of Reissued
Options:
Director Position Number of Exercise
Options granted price*
John Watkins Executive Chairman 300,000 33.5p
-------------------------- ----------------- ---------
Jon Furber Group Finance Director 475,000 33.5p
-------------------------- ----------------- ---------
Mark Watkins Chief Operating Officer 250,000 33.5p
-------------------------- ----------------- ---------
Bill Duffy Non-Executive Director 75,000 33.5p
-------------------------- ----------------- ---------
Matt Cowley Big Data Director 25,000 33.5p
-------------------------- ----------------- ---------
Tim Cowley Strategy Director 50,000 33.5p
-------------------------- ----------------- ---------
MD - Insurance and
Sean Morris Automotive 350,000 33.5p
-------------------------- ----------------- ---------
Matt Monnington
(PDMR) Chief Technology Officer 200,000 33.5p
-------------------------- ----------------- ---------
*Issued at a 20% premium to the mid-market closing share price
on 4 March 2019
Vesting conditions: The Reissued Options vest on 5 March 2022
and require that the recipients remain in employment with the
Company at the date of exercise. All of the above Reissued Options
may only be exercised if the mid-market share price is 50 pence or
more at the time of exercise.
Employee Options
In addition to the above, 325,000 existing options have been
cancelled and the same number of options have been reissued to
certain other employees of the Company on the same terms as the
Reissued Options to the directors and PDMRs.
Existing Options
In addition to the New Options and Reissued Options noted above,
there are 1,605,000 existing options outstanding to certain
directors, PDMRs and other employees of the Company. As detailed in
the table below, the existing options together with the Reissued
Options and New Options, would, if fully exercised, result in the
issue of an additional 4,080,000 Ordinary Shares of 1 pence each in
the Company, representing 8.2 per cent. of the current issued share
capital of 50,004,002 Ordinary Shares (of which 29,000 shares are
held in treasury) as at the date of this announcement.
A summary of all shares under option is set out in the table
below:
Director Existing Options Re-issued New Options Total
/ PDMR Options Options
Exercise
price 19.5p 44.5p 57.75p 81.5p-333p 33.5p 33.5p
-------- -------- -------- ----------- ---------- ---------------------- ----------
John Watkins - 250,000 - - 300,000 125,000 675,000
-------- -------- -------- ----------- ---------- ---------------------- ----------
Jon Furber - - - - 475,000 125,000 600,000
-------- -------- -------- ----------- ---------- ---------------------- ----------
Mark Watkins - - 200,000 - 250,000 125,000 575,000
-------- -------- -------- ----------- ---------- ---------------------- ----------
Bill Duffy - - - - 75,000 50,000 125,000
-------- -------- -------- ----------- ---------- ---------------------- ----------
Matt Cowley - 125,000 - - 25,000 - 150,000
-------- -------- -------- ----------- ---------- ---------------------- ----------
Tim Cowley - 125,000 - - 50,000 - 175,000
-------- -------- -------- ----------- ---------- ---------------------- ----------
Sean Morris - - - - 350,000 - 350,000
-------- -------- -------- ----------- ---------- ---------------------- ----------
Keith Evans - - - 75,000 - 75,000
-------- -------- -------- ----------- ---------- ---------------------- ----------
PDMRs - - - 235,000 200,000 - 435,000
-------- -------- -------- ----------- ---------- ---------------------- ----------
Other employees 150,000 - - 445,000 325,000 - 920,000
-------- -------- -------- ----------- ---------- ---------------------- ----------
TOTAL 150,000 500,000 200,000 755,000 2,050,000 425,000 4,080,000
-------- -------- -------- ----------- ---------- ---------------------- ----------
Related party transaction
The Options Grant to each of the directors other than Keith
Evans and Nadeem Raza is considered a related party transaction
pursuant to rule 13 of the AIM Rule for companies. Accordingly,
Keith Evans and Nadeem Raza who are independent directors for the
purposes of the Options Grant, consider, having consulted with
Arden Partners Plc, the Company's Nominated Adviser, that the terms
of the Options Grant are fair and reasonable insofar as
shareholders are concerned.
- Ends -
For further information:
Trakm8 Holdings plc
John Watkins, Executive Chairman Tel: +44 (0) 167 543 4200
Jon Furber, Finance Director www.trakm8.com
Arden Partners plc (Nominated Adviser Tel: +44 (0) 20 7614 5900
& Broker)
Paul Shackleton / Alex Penney www.arden-partners.com
Simon Johnson (Corporate Broking)
Media enquiries:
Buchanan
Chris Lane / Tilly Abraham Tel: +44 (0) 20 7466 5000
Trakm8@buchanan.uk.com www.buchanan.uk.com
About Trakm8
Trakm8 is a UK based technology leader in fleet management,
insurance telematics, connected car, and optimisation. Through IP
owned technology, the Group analyses data collected by its
installed base of telematics units to fine tune the algorithms that
are used to produce its' solutions; these monitor driver behaviour,
identify crash events and monitor vehicle health to provide
actionable insights to continuously improve the security and
operational efficiency of both company fleets and private
drivers.
The Group's product portfolio includes the latest data and
reporting portal (Trakm8 Insight), integrated telematics/cameras,
self-installed telematics units and one of the widest ranges of
installed telematics devices. Trakm8 has over 250,000
connections.
Headquartered in Coleshill near Birmingham alongside its
manufacturing facility, the Group supplies to the Fleet,
Optimisation, Insurance and Automotive sectors to many well-known
customers in the UK and internationally including the AA, Saint
Gobain, EON, Iceland Foods, Direct Line Group and Young
Marmalade.
Trakm8 has been listed on the AIM market of the London Stock
Exchange since 2005.
www.trakm8.com / @Trakm8
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END
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