Company Announcements

Grant of Options

Source: RNS
RNS Number : 7273X
Xaar PLC
01 May 2019
 

Xaar plc (the "Company")

Grant of Options

The Company announces that on 30 April 2019 the Executive Directors of the Company were granted the following nil priced share options over ordinary shares of 10 pence each in the Company ("Ordinary Shares") under the terms of the Xaar 2017 Long Term Incentive Plan ("LTIP"):

Name

No. of options* granted over Ordinary Shares

Total no. of options** held post grant

Doug Edwards

309,880

919,477

Shomit Kenkare

103,293

113,293

 

* Options granted under the LTIP scheme.

** Options granted under all schemes.

This grant was approved by the Remuneration Committee on 15 April 2019.

No consideration was paid for the grant of any of the options, or is due on the exercise of options granted under the LTIP scheme. These options carry certain specific and stretching performance criteria which must be achieved prior to vesting, which is 3 years after the date of grant. 34% of the vested options are exercisable 3 years after the date of grant, with 33% exercisable 4 and 5 years after the date of grant respectively. The options will expire on the tenth anniversary of the date of grant.

Taking into account the current share price and the recent decline, the Remuneration Committee has used its discretion to scale back the grant from the maximum allowed in the policy.

The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation is appended below and gives further details on the transactions described above.

 

Enquiries:

Xaar plc


Camila Cottage, Company Secretary

+44 (0)1223 423 663

 

 

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

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

1.  Doug Edwards

2.  Shomit Kenkare

2

Reason for the notification

a)

Position/status

1.  Chief Executive Officer

2.  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

Xaar plc

b)

LEI

213800MXEC3KAOBBPO57

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 10 pence each



Identification code

GB0001570810



b)

Nature of the transaction

Grant of Options under the Xaar plc 2017 Long Term Incentive Plan

c)

Price(s) and volume(s)







Price(s)

Volume(s)




1.  £nil

1.  309,880




2.  £nil

2.  103,293







d)

Aggregated information




- Aggregated volume

1. 309,880

2. 103,293



- Price

1. £nil

2. £nil



e)

Date of the transaction

1.  30 April 2019

2.  30 April 2019

f)

Place of the transaction

Outside 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.
 
END
 
 
DSHLIFLAEVILIIA