AI Terminal
Bytes Technology Group PLC
Remuneration Information • Jun 2, 2023
5048_dirs_2023-06-02_8a4af48e-e13d-4ce8-9ce9-202dfa75655b.html
Remuneration Information
Open in ViewerOpens in native device viewer
National Storage Mechanism | Additional information 
RNS Number : 3988B
Bytes Technology Group PLC
02 June 2023
Bytes Technology Group plc
('BTG' or 'the Company')
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
2 June 2023
BTG announces the following changes in the interests of Directors and Persons Discharging Managerial Responsibility ('PDMRs') in ordinary shares of £0.01 each in the share capital of the Company ('shares').
2020 Performance Share Plan ('PSP')
Grant of PSP options
On 1 June 2023, the grant of PSP options was made under the BTG 2020 PSP to the Directors and PDMRs listed below:
| Name | Director/PDMR | Number of PSP options |
| Neil Murphy | Director and PDMR | 125,600 |
| Andrew Holden | Director and PDMR | 102,400 |
The number of PSP options shown is the maximum available if the performance conditions for the three-year performance period from 1 March 2023 to 28 February 2026 are satisfied in full. The performance conditions relate to the Company's adjusted earnings per share growth and relative total shareholder return over the performance period. Further details of the performance conditions will be disclosed in the Company's annual report, expected to be distributed to shareholders on 6 June 2023 and available on the BTG website from that date.
Vesting will be on a pro-rata basis between the threshold and maximum vesting figures. In addition, the BTG Remuneration Committee retains discretion to reduce the overall PSP vesting level if it considers that the underlying business performance of the Company does not justify it.
2020 Deferred Share Bonus Plan ('DBP')
Grant of DBP options
On 1 June 2023, the grant of share options was made under the BTG 2020 DBP to the Directors and PDMRs listed below:
| Name | Director/PDMR | Number of DBP options |
| Neil Murphy | Director and PDMR | 24,989 |
| Andrew Holden | Director and PDMR | 20,376 |
Under the DBP, one-third of the annual bonus for the financial year ended 28 February 2023 awarded to each of the Company's executive directors, is deferred into share options which vest over a two-year period. Annual bonus awards are based on the achievement of pre-set performance targets. The vesting of DBP options is not subject to additional performance conditions and the underlying share options will accrue dividend equivalents over the vesting period.
The following notifications are made in accordance with DTR 3.1.2-A, incorporating article 19(1) of the Market Abuse Regulation.
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Neil Murphy |
| 2. | Reason for the notification | |
| a) | Position / status | Chief Executive Officer |
| b) | Initial notification / amendment | Initial Notification |
| 3. | Details of the issuer or emission allowance market participant | |
| a) | Name | Bytes Technology Group plc |
| b) | LEI | 213800LA4DZLFBAC9O33 |
| 4. | Details of the transaction(s): | |
| a) | Description of the financial instrument and identification code | Ordinary shares of 1 pence GB00BMH18Q19 |
| b) | Nature of the transaction | Grant of share options under the Bytes Technology Group plc 2020 Performance Share Plan and the 2020 Deferred Share Bonus Plan |
| c) | Price(s) and volume(s) | Price: £0.01 Volume: 150,589 (125,600 PSP and 24,989 DBP) |
| d) | Aggregated information - Aggregated volume - Price |
150,589 (125,600 PSP and 24,989 DBP) £0.01 |
| e) | Date of the transaction | 1 June 2023 |
| f) | Place of the transaction | Outside a trading venue |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Andrew Holden |
| 2. | Reason for the notification | |
| a) | Position / status | Chief Financial Officer |
| b) | Initial notification / amendment | Initial Notification |
| 3. | Details of the issuer or emission allowance market participant | |
| a) | Name | Bytes Technology Group plc |
| b) | LEI | 213800LA4DZLFBAC9O33 |
| 4. | Details of the transaction(s): | |
| a) | Description of the financial instrument and identification code | Ordinary shares of 1 pence GB00BMH18Q19 |
| b) | Nature of the transaction | Grant of share options under the Bytes Technology Group plc 2020 Performance Share Plan and the 2020 Deferred Share Bonus Plan |
| c) | Price(s) and volume(s) | Price: £0.01 Volume: 122,776 (102,400 PSP and 20,376 DBP) |
| d) | Aggregated information - Aggregated volume - Price |
122,776 (102,400 PSP and 20,376 DBP) £0.01 |
| e) | Date of the transaction | 1 June 2023 |
| f) | Place of the transaction | Outside a trading venue |
Enquiries:
| WK Groenewald | Tel: +44 (0)1372 418 992 |
| Group Company Secretary | |
| Bytes Technology Group plc |
The Company has a primary listing on the Main Market of the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.
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 [email protected] or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
DSHBUGDLBXGDGXB