Business
Award of Options and Director PDMR Shareholding
Award of Options and Director PDMR Shareholding.
About this update from Synectics Plc
[{"type":"text","content":"\n \nRNS Number : 9820R Synectics PLC 01 November 2013 \n \n\n\n\n\n\nPress Release\n\n\n1 November 2013\n\n\n\n\n \n \n \nSynectics plc\n(the \"Company\" or the \"Group\")\nAward of Options under Share Plan\nDirector PDMR shareholding\n \nSynectics (AIM: SNX), a leader in the design, integration, control and management of advanced surveillance technology and networked security systems, announces that on 31 October 2013 it made awards over 78,500 Synectics plc ordinary shares of 20p (the \"Shares\") to certain senior managers employed within the Group, under its Performance Share Plan (\"PSP\").\n \nUnder the PSP, selected employees are entitled to exercise an option to receive a certain number of Synectics shares at any time after a 3 year vesting period, at no cost to themselves. The number of shares that are awarded at the end of the 3 year period is dependent on the achievement of certain performance criteria.\n \nVesting of the PSP awards is dependent on the total return on Synectics' shares compared with the AIM All Share Total Return Index (the \"Index\"). If the total return on Synectics' shares out-performs the Index by 5% or more in the 3 years following the award, all of the Shares awarded will vest. If Synectics' shares match the Index performance, then 25% of the awarded Shares will vest. Between these points the number of Shares that vest will be pro-rata. If the total return on Synectics' shares underperforms the Index, then no Shares will vest. The limit on the number of shares over which interests may be awarded remains unchanged.\n \nAny entitlement under the PSP will lapse on cessation of employment prior to the end of the 3 year vesting period, unless cessation of employment is by reason of redundancy, ill health or death.\n \nShould the performance criteria be met in full or part, it is intended that the appropriate number of Shares will be satisfied from unallocated Synectics' shares already held within the Company's employee benefit trust.\n \nFull details of the PSP were set out in the Company's Annual Report for the year ended 30 November 2012.\nUnder the PSP award, John Shepherd and Nigel Poultney, directors of the Company, were each awarded 5,000 Shares. Following the award, their total interests in Synectics' shares are now as follows: \n\...