RNS Number : 5231U
Eleco PLC
02 August 2022
 

2 August 2022

Eleco Plc

("Eleco", "Group" or the "Company")

 

Issue of Options

The Board of Eleco plc (AIM: ELCO), the AIM-listed construction software specialist, advises that on 1 August 2022 the Company issued a total of 750,000 options to subscribe for new ordinary shares of 1p each (the "Ordinary Shares") in the Company under the Eleco 2014 Share Option Plan (the "Options").

250,000 options were granted to Jonathan Hunter, CEO of the Company. Of these, 150,000 are market priced options, which have no vesting criteria other than to remain in employment by the Group and shall vest after a 3-year vesting period. 100,000 are nominal cost options which shall vest after 3 years if certain performance criteria related to recurring revenue growth, overall revenue growth and share price growth are met. To fully vest, Eleco will need to achieve significant revenue growth from current levels and will need to outperform against current market forecasts.

The remaining 500,000 Options were granted to various employees of the Company, which are market priced options with no vesting criteria other than to remain in employment by the Group and shall vest after a 3-year vesting period.

All market priced options are exercisable at 70 pence. All Options will expire on 31 July 2032. Details of PDMR awards are included in the disclosure notices at the end of this announcement.

 

Director/PDMR

Options issued

Total options held post issue

Jonathan Hunter

250,000

850,000

Birgit Lenton

100,000

100,000

Luben Kirov

100,000

100,000

Following the issue of the Options, the total number of options in issue post award is 2,750,000, representing approximately 3.3% of the Company's issued share capital.

 

Enquiries:

 

Eleco plc

+44 (0)20 7422 8000

Jonathan Hunter, Chief Executive Officer


Rose Clark, Interim CFO




finnCap Limited

+44 (0)20 7220 0500

Geoff Nash / Kate Bannatyne / James Balicki (Corporate Finance)


Richard Chambers / Charlotte Sutcliffe (ECM)




SEC Newgate UK

+44 (0)20 3757 6882

Elisabeth Cowell / Bob Huxford / Isabelle Smurfit

eleco@secnewgate.co.uk

 

About Eleco plc

Eleco plc is an AIM-listed (AIM: ELCO) specialist international provider of software and related services to the Architectural, Engineering, Construction and Owner/Operator (AECO) industries and interior furnishing industries from centres of excellence in the UK, Sweden, Germany and the Netherlands.

The Company's market-leading Elecosoft software solutions are developed by teams in the United Kingdom, Sweden and Germany, and its solutions cover project management, estimating, timber engineering, CAD and visualisation, asset and facility management and cloud-based digital marketing solutions.

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)

Name

Price(s)

Volume(s)

Jonathan Hunter

1p

70p

100,000

150,000

d)

Aggregated information:

Aggregated volume

Price

 

250,000

£106,000

e)

Date of the transaction

1 August 2022

f)

Place of the transaction

Outside of a trading venue

 

1.

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

a)

Name

Birgit Lenton

2.

Reason for the Notification

a)

Position / status

Group Transformation Director / 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)

Name

Price(s)

Volume(s)



Birgit Lenton

 

70p

100,000

 

d)

Aggregated information:

Aggregated volume

Price

 

100,000

£70,000

e)

Date of the transaction

1 August 2022

f)

Place of the transaction

Outside of a trading venue

 

1.

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

a)

Name

Luben Kirov

2.

Reason for the Notification

a)

Position / status

Chief Technology Officer / 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)

Name

Price(s)

Volume(s)



Luben Kirov

 

70p

100,000

 

d)

Aggregated information:

Aggregated volume

Price

 

100,000

£70,000

e)

Date of the transaction

1 August 2022

f)

Place of the transaction

Outside of a trading venue

 

 

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