Back to Regulatory News

Grant of Options

RNS Number : 3098R
Eleco PLC
06 June 2024
 

6 June 2024

Eleco Plc

(“Eleco”, “Group” or the “Company”)

 

Grant of Options

 

Eleco plc (AIM: ELCO), the specialist software provider for the built environment, announces that on 5 June 2024 the Board of Eleco, following the recommendation from the Remuneration Committee, granted a total of 500,000 new share options (the “Options“) over ordinary shares of 1 pence each (“Ordinary Shares“) in the Company to certain directors and PDMRs.

Following this grant of Options, Eleco has 4,005,000 options in issue, representing approximately 4.81 per cent. of the Company’s issued share capital.

250,000 Options were granted to Jonathan Hunter, CEO, and 200,000 Options were granted to Neil Pritchard, CFO. All of these Options are nominal cost options that shall vest after 3 years if certain performance criteria related to growth in revenue, profit and share price are met. To fully vest, Eleco will need to deliver significant growth from current levels.

The remaining 50,000 Options were granted to Mark Chapman, PDMR, and are market priced options with no vesting criteria other than to remain in employment by the Group and shall vest after 3 years. These Options are exercisable at 117 pence.

Director/PDMR

Options issued on 5 June 2024

Total options held post issue

Jonathan Hunter

250,000

1,225,000

Neil Pritchard

200,000

475,000

Mark Chapman

50,000

110,000

 

The Options are issued under the Eleco 2014 Share Option Plan and are exercisable up to 5 June 2034, subject to the achievement of the appropriate performance criteria.

 

Enquiries:

 

Eleco plc

+44 (0)20 7422 8000

Jonathan Hunter, Chief Executive Officer


Neil Pritchard, Chief Financial Officer




Cavendish Capital Markets Limited

+44 (0)20 7220 0500

Geoff Nash / Emily Watts / Seamus Fricker (Corporate Finance)


Louise Talbot / Tim Redfern / Harriet Ward (ECM)




 

About Eleco plc

Eleco plc is an AIM-listed (AIM: ELCO) specialist international provider of software and related services to the built environment through its operating brands Elecosoft, BestOutcome, Vertical Digital and Veeuze from centres of excellence in the UK, Sweden, Germany, the Netherlands, Romania and the USA.

The Company’s software solutions are trusted by international customers and used throughout the building lifecycle from early planning and design stages to construction, interior fit out, asset management and facilities management to support project management, estimation, visualisation, Building Information Modelling (BIM) and property management.

For further information please visit www.eleco.com.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1.

Details of PDMR / person closely associated with them (‘PCA’)

a)

Name

Jonathan Hunter

 

2.

Reason for the Notification

a)

Position / status

Chief Executive Officer

b)

Initial notification /amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Eleco plc

b)

LEI

21380016GT9Z6ZQX4T37

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 instrument, type of instrument

Ordinary shares of 1p each

Identification code

GB0003081246

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)



Exercise price of 1p

250,000

d)

Aggregated information:

Aggregated volume

Price

 

n/a

e)

Date of the transaction

5 June 2024

f)

Place of the transaction

Outside of a trading venue

 

1.

Details of PDMR / person closely associated with them (‘PCA’)

a)

Name

Neil Pritchard

 

2.

Reason for the Notification

a)

Position / status

Chief Financial Officer

b)

Initial notification /amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Eleco plc

b)

LEI

21380016GT9Z6ZQX4T37

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 instrument, type of instrument

Ordinary shares of 1p each

Identification code

GB0003081246

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)



Exercise price of 1p

200,000

d)

Aggregated information:

Aggregated volume

Price

 

n/a

e)

Date of the transaction

5 June 2024

f)

Place of the transaction

Outside of a trading venue

 

1.

Details of PDMR / person closely associated with them (‘PCA’)

a)

Name

Mark Chapman

 

2.

Reason for the Notification

a)

Position / status

Head of Innovation / PDMR

b)

Initial notification /amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Eleco plc

b)

LEI

21380016GT9Z6ZQX4T37

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 instrument, type of instrument

Ordinary shares of 1p each

Identification code

GB0003081246

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)



Exercise price of 117p

50,000

d)

Aggregated information:

Aggregated volume

Price

 

n/a

e)

Date of the transaction

5 June 2024

f)

Place of the transaction

Outside of a trading venue

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 
 

DSHQELFBZQLEBBQ

Related News

Exercise of Options and Total Voting Rights

RNS Number : 8692R Eleco PLC 10 June 2024   10 June 2024 Eleco Plc ("Eleco", "Group" or the "Company")   Exercise of Options and...
Read more

Share Options – correction

RNS Number : 8684R Eleco PLC 10 June 2024   10 June 2024 Eleco Plc ("Eleco", "Group" or the "Company")   Share Options    ...
Read more

Result of AGM

RNS Number : 0852R Eleco PLC 04 June 2024   4 June 2024 Eleco Plc ("Eleco", "Group" or the "Company")   Results of the Annual...
Read more