Business
Grant of Options and Director/PDMR Shareholding
Grant of Options and Director/PDMR Shareholding.
About this update from Redcentric Plc
[{"type":"text","content":"\n\nRedcentric plc\n \nGrant of Options and PDMR Shareholding\n \nRedcentric plc (AIM: RCN) (\"Redcentric\" or the \"Company\"), a leading UK IT managed services provider, announces that it has granted a total of 2,040,861 options over new ordinary shares of 0.1 pence each in the Company (\"Ordinary Shares\") under the Company's 2016 Long Term Incentive Plan (\"LTIP Options\"). The LTIP Options are three-year, nominal cost (0.1p) options and subject to continued employment and the meeting of certain performance conditions described below. 952,650 of the LTIP Options were granted to executive directors of the Company as follows:\n \n\n· 605,620 LTIP Options were granted to Peter Brotherton, Chief Executive Officer of the Company, following which Mr. Brotherton holds a total of 1,799,219 options over Ordinary Shares and 437,136 Ordinary Shares (representing approximately 0.28% of the Company's issued voting share capital); and\n\n \n\n· 347,030 LTIP Options were granted to David Senior, Chief Financial Officer of the Company, following which Mr. Senior holds a total of 1,011,396 options over Ordinary Shares and 106,550 Ordinary Shares (representing approximately 0.07% of the Company's issued voting share capital).\n\n \nThe LTIP Options in respect of the executive directors have a value equal to 200% of salary with the first 100% of salary based on absolute Total Shareholder Return (\"TSR\") between 5% and 10% p.a. and the additional 100% of salary based on stretch absolute TSR targets of 10% to 15% p.a.\n \nFollowing the grant of the LTIP Options, there are options outstanding over 6,351,922 Ordinary Shares, representing 4.1% of the Company's issued voting share capital.\n \nThe notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.\n \n \nEnquiries:\n\n\n\nRedcentric plc\nPeter Brotherton, Chief Executive Officer\nDavid Senior, Chief Financial Officer\n \n\n\n+44 (0)800 983 2522\n\n\n\n\n \n\n\n\n\n\n\n\nfinnCap Ltd - Nomad and Sole Broker\nMarc Milmo / Simon Hicks / Charlie Beeson (Corporate Finance)\nAndrew Burdis / Sunila de Silva (ECM)\n\n\n+44 (0)20 7220 0500\n\n\n\n \n \nNOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGE...