Xpediator PLC Director/PDMR Shareholding (9334Q)
March 03 2021 - 1:00AM
UK Regulatory
TIDMXPD
RNS Number : 9334Q
Xpediator PLC
03 March 2021
3 March 2021 XPEDIATOR PLC ("Xpediator" or the "Company" or the
"Group") Launch of LTIP and Issue of awards to Directors Xpediator,
a leading provider of freight management services across the UK and
Central and Eastern Europe, announces the implementation of a new
Long Term Incentive Plan ("LTIP"), which has been established to
incentivise senior employees to deliver long-term value creation
for shareholders and ensure alignment with shareholder interests.
Under the LTIP, awards will be made to the Company's CEO and CFO
which vest in portions of one third on each of the third, fourth
and fifth anniversaries of grant, subject to continued employment
and the satisfaction of two performance conditions. LTIP
Performance Conditions The performance conditions are split equally
between adjusted EPS growth and compound annual total shareholder
return (TSR). For both EPS growth and TSR, one quarter of the
awards will vest once a compound annual growth rate (CAGR) in
excess of 10% has been achieved and will only vest 100% once a
compound annual growth rate of 25% has been achieved. Between 10%
and 25% CAGR, the awards will vest pro rata. Executive Director
Awards In determining the level, structure and performance
conditions attached to this award, the Remuneration Committee took
into account commitments made to Robert Ross at the time of his
appointment as CFO, announced in October 2019. This award, his
first since his joining the Company (other than the HMRC approved
CSOP award announced in January 2021), has been delayed, due in
part to the impact of the Covid pandemic and various closed trading
periods in the last 6 months. Robert Ross has today been granted an
award over 2,163,281 ordinary shares with an exercise price of 5p,
the nominal price of an ordinary share, subject to the performance
conditions. The performance period for EPS growth, will be measured
from the date that Robert Ross commenced employment on 1 January
2020 to 31 December 2022, and the TSR will be measured, over the
three years from the date of grant with a deemed baseline share
price of 32p, being the share price at the time he joined the
Company. Furthermore, Michael Williamson, CFO, has today been
granted an initial award over 267,010 ordinary shares with an
exercise price of 5p, the nominal price of an ordinary share,
subject to the performance conditions. The performance period for
EPS growth, for Michael Williamson will be measured from 1 January
2021 to 31 December 2023 and the TSR will be measured over the
three years from the date of grant. Both awards contain malus and
clawback provisions. Robert Ross is a Director of the Company and
the award under the LTIP is deemed a related party transaction. The
independent Directors, having consulted with Cenkos Securities as
the Company's nominated adviser, consider the terms of the awards
to be fair and reasonable insofar as the shareholders are
concerned.
Xpediator plc
Robert Ross, CEO Tel: +44 (0)330 043
239
Cenkos Securities plc (Nominated Adviser) Tel: +44 (0)20 7397
8900
Max Hartley, Max Gould (Corporate Finance)
Nick Searle (Sales)
Novella Communications (Financial Public Relations) Tel: +44 (0)20 3151
7008
Tim Robertson
Fergus Young
The following notifications are intended to satisfy the
Company's obligations under Article 19(3) of the Market Abuse
Regulation.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1 1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Robert Ross
------------------------------------ ---------------------------------
1.2 2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: CEO
------------------------------------ ---------------------------------
b) Initial notification/Amendment: Initial notification
------------------------------------ ---------------------------------
1.3 3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name: Xpediator Plc
------------------------------------ ---------------------------------
b) LEI: 213800XBOVDBT2HEC967
------------------------------------ ---------------------------------
1.4 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 financial LTIP options
instrument, type of instrument: GB00BF6P5V92
Identification code:
------------------------------------ ---------------------------------
b) Nature of the transaction: Grant of options under Company
and CSOP
------------------------------------ ---------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
Nil 2,163,281
------------------------------------ ---------------------------------
d) Aggregated information: n/a
Aggregated volume:
Price:
------------------------------------ ---------------------------------
e) Date of the transaction: 02 March 2021
------------------------------------ ---------------------------------
f) Place of the transaction: Off market
------------------------------------ ---------------------------------
1 1. Details of the person discharging managerial responsibilities/person
closely associated
-----------------------------------------------------------------------
a) Name: Michael Williamson
------------------------------------ ---------------------------------
1.2 2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: CFO
------------------------------------ ---------------------------------
b) Initial notification/Amendment: Initial notification
------------------------------------ ---------------------------------
1.3 3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name: Xpediator Plc
------------------------------------ ---------------------------------
b) LEI: 213800XBOVDBT2HEC967
------------------------------------ ---------------------------------
1.4 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 financial LTIP options
instrument, type of instrument: GB00BF6P5V92
Identification code:
------------------------------------ ---------------------------------
b) Nature of the transaction: Grant of options under Company
and CSOP
------------------------------------ ---------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
Nil 267,010
------------------------------------ ---------------------------------
d) Aggregated information: n/a
Aggregated volume:
Price:
------------------------------------ ---------------------------------
e) Date of the transaction: 02 March 2021
------------------------------------ ---------------------------------
f) Place of the transaction: Off market
------------------------------------ ---------------------------------
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END
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