Business
Grant of Options
Grant of Options.
About this update from Tracsis Plc
[{"type":"text","content":"\n\n6 December 2023\n \nTracsis plc\n(\"Tracsis\" or \"the Group\")\n \nGrant of Options\n \nTracsis, a leading transport technology provider, announces that following a meeting of the Group's remuneration committee, on 4 December 2023 it granted a total of 122,579 share options to Executive Directors and senior managers of the Company (the \"Share Options\"). Of the total Share Options, 36,671 were granted to Chris Barnes, Chief Executive Officer, and 25,043 were granted to Andy Kelly, Chief Financial Officer.\nThis award is part of Tracsis' Long Term Incentive Plan (LTIP) and is designed to retain and motivate the senior leadership team whilst at the same time setting challenging performance targets that are specifically aligned with the Group's strategic goals and shareholder interests.\nThe options awarded have an exercise price of 0.4p and are directly linked to performance targets based on Group profitability and Total Shareholder Return relative to an AIM peer group determined by Tracsis' remuneration committee.\nFull award is only exercisable should adjusted diluted Earnings Per Share (EPS) for the year ending 31 July 2026 be at least 58.00p, and Total Shareholder Return (TSR) versus AIM peer group is in the top quartile. Where adjusted diluted EPS for the year ending 31 July 2026 is less than 48.00p, and TSR versus the peer group is less than the median, no options will be exercisable. For scenarios between the above range, the options will be exercisable on a straight line sliding scale basis.\nThe resulting interests of Chris Barnes and Andy Kelly in Tracsis plc can be summarised as follows:\n\n\n\n\nDirector\n\n\nOrdinary shares of 0.4p held\n\n\n% of issued share capital\n\n\nLTIP Options held prior to this award\n\n\nLTIP Options awarded\n\n\nLTIP Options after this award\n\n\n\n\nChris Barnes\n\n\n21,125\n\n\n0.07%\n\n\n102,254\n\n\n36,671\n\n\n138,925\n\n\n\n\nAndy Kelly\n\n\n-\n\n\n-\n\n\n61,786\n\n\n25,043\n\n\n86,829\n\n\n\n\n \nFollowing the grant of Share Options, there is a total of 854,387 options outstanding, representing approximately 2.8% of the current issued share capital of the Company\n \n\n\n\n\nEnquiries:\n \n\n\n \n\n\n\n\nTracsis plc &nbs...