K3 BUSINESS TECHNOLOGY GROUP PLC

Transaction in Own Shares • Mar 30, 2021

National Storage Mechanism | Additional information

RNS Number : 8815T

K3 Business Technology Group PLC

30 March 2021

30 March 2021

AIM: KBT

K3 Business Technology Group plc

("K3", "Company" or "Group")

Long Term Incentive Plan Option Scheme

Following the announcement today of the appointment of Marco Vergani as CEO of K3, the Remuneration Committee of the Board of K3 ("RemCo") has granted 500,000 new options to Mr Vergani under the terms of the 2020 Long Term Incentive Plan (the "LTIP"). It has also granted 50,000 new options to Tom Crawford, Chairman, substantially under the same terms as the LTIP. The two grants together amount to approximately 1.28% of the Company's current non-diluted issued share capital ("LTIP Options").  All of the LTIP Options are exercisable at a price of 25p per share, being nominal value.

Structure of the LTIP

The structure of the 2020 LTIP, as announced by K3 on 13 November 2020, is as follows:

The LTIP Options are subject to performance conditions, based on the achievement of certain 60 day Volume Weighted Average Price ('VWAP') thresholds of K3 ordinary shares measured between the third and fourth anniversary of the date of option grant. The 60 day VWAP measurement will be applied to any consecutive 60 trading days during the 12 month testing period.

Performance target and vesting dates

The performance targets and associated vesting of the LTIP Options for each of the participants are:

·          25% vest at VWAP of 200p;

·          50% vest at VWAP of 225p; and

·          100% vest at VWAP of 250p,

with straight line vesting between these thresholds.

Subject to meeting the above performance targets, the LTIP Options may be exercised as follows:

·    50% on or after the fourth anniversary of the date of grant, and

·    50% on or after the fifth anniversary of the date of grant.

The LTIP Options will remain exercisable until the seventh anniversary of the original date of grant, at which point they will lapse.

Enquiries:

K3 Business Technology Group plc	Marco Vergani, CEO Rob Price, CFO	T: 0161 876 4498
finnCap Limited (NOMAD & Broker)	Julian Blunt/James Thompson (Corporate Finance) Richard Chambers (Corporate Broking)	T: 020 7220 0500
KTZ Communications	Katie Tzouliadis Dan Mahoney	T: 020 3178 6378

1.	Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated with them ('PCA')
a)	Name	Marco Vergani
2.	Reason for notification
b)	Position / status	Chief Executive Officer
c)	Initial notification / amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
b)	Name	K3 Business Technology Group plc
c)	LEI	213800QOJ9OF2AV81748
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  Identification code	Options over ordinary shares of 25p each  GB00B00P6061
b)	Nature of the transaction	Award of Options under the K3 LTIP
c)	Price(s) and volume(s)	500,000 Options awarded
d)	Aggregated information Aggregated volume Price	n/a
e)	Date of the transaction	30 March 2021
f)	Place of the transaction	Outside a trading venue

1.	Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated with them ('PCA')
a)	Name	Tom Crawford
2.	Reason for notification
b)	Position / status	Non-executive Chairman
c)	Initial notification / amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
b)	Name	K3 Business Technology Group plc
c)	LEI	213800QOJ9OF2AV81748
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  Identification code	Options over ordinary shares of 25p each  GB00B00P6061
b)	Nature of the transaction	Award of Options under the K3 LTIP
c)	Price(s) and volume(s)	50,000 Options awarded
d)	Aggregated information Aggregated volume Price	n/a
e)	Date of the transaction	30 March 2021
f)	Place of the transaction	Outside a trading venue

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