AI assistant
TEKMAR GROUP PLC — Director's Dealing 2020
Aug 5, 2020
7956_dirs_2020-08-05_ad360953-d190-4c42-bcae-6974dd58eecc.html
Director's Dealing
Open in viewerOpens in your device viewer
National Storage Mechanism | Additional information
RNS Number : 2716V
Tekmar Group PLC
05 August 2020
5 August 2020
Tekmar Group plc
("Tekmar", the "Group" or the "Company")
Grant of options under LTIP scheme
Tekmar Group plc, a market-leading technology provider of subsea protection systems, announces that the Group's Remuneration Committee has approved three Long Term Incentive Plans ("LTIPs") to incentivise and reward management for growth in the Group's financial performance achieved in each of the next three years, ending 31 March 2023. Management have been granted awards for up to 1,294,010 ordinary shares, representing 2.5% of the Company's issued share capital. This is made up of three LTIPs with the following awards in each year:
| Ordinary shares | |
| FY21 LTIP | 391,108 |
| FY22 LTIP | 446,980 |
| FY23 LTIP | 455,922 |
The following Persons Discharging Managerial Responsibility ("PDMRs") have been granted options, covering the three years to 31 March 2023:
| Name | Position | Number of LTIPs options granted | Total number of options over Ordinary Shares | Total interest in Ordinary Shares (No.) | Total interest in Ordinary Shares (%) |
| Susan Hurst | Chief Financial Officer Tekmar Group plc |
360,750 | 448,250 | 276,569 | 0.54% |
| Russell Edmondson | Managing Director Tekmar Energy Ltd | 182,112 | 235,048 | 197,686 | 0.39% |
| Jack Simpson | Sales Director Tekmar Energy Limited |
144,172 | 175,422 | 195,009 | 0.38% |
| Steven Rossiter | Chief Technology Officer Tekmar Group plc |
151,760 | 183,010 | 102,564 | 0.20% |
| Fraser Gibson | Managing Director AgileTek Engineering Limited |
136,585 | 149,597 | 0 | 0 |
| David Thompson | Managing Director Subsea Innovation Limited |
182,112 | 207,112 | 0 | 0 |
Performance Conditions
Vesting of the options are subject to certain performance criteria which will be measured inter alia in relation to targeted earnings per share and total shareholder return.
The relevant notification set out below is provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.
| 1 | Details of the person discharging managerial responsibility / person closely associated | ||
| a) | Name | Susan Hurst | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Financial Officer, Tekmar Group plc | |
| b) | Initial notification/amendment | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Tekmar Group plc | |
| b) | LEI | 213800839UQKQTV33E71 | |
| 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, type of instrument | Ordinary shares of 0.01p each | |
| Identification code | GB00BDFGGK53 | ||
| b) | Nature of transaction | Grant of options under the LTIP Schemes | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 360750 | ||
| d) | Aggregated information | ||
| Aggregated volume | NA | ||
| Price | NA | ||
| e) | Date of transaction | 03/08/2020 | |
| f) | Place of transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibility / person closely associated | ||
| a) | Name | Russell Edmondson | |
| 2 | Reason for the notification | ||
| a) | Position/status | Managing Director, Tekmar Energy Limited | |
| b) | Initial notification/amendment | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Tekmar Group plc | |
| b) | LEI | 213800839UQKQTV33E71 | |
| 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, type of instrument | Ordinary shares of 0.01p each | |
| Identification code | GB00BDFGGK53 | ||
| b) | Nature of transaction | Grant of options under the LTIP Schemes | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 182112 | ||
| d) | Aggregated information | ||
| Aggregated volume | NA | ||
| Price | NA | ||
| e) | Date of transaction | 03/08/2020 | |
| f) | Place of transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibility / person closely associated | ||
| a) | Name | Jack Simpson | |
| 2 | Reason for the notification | ||
| a) | Position/status | Sales Director, Tekmar Energy Limited | |
| b) | Initial notification/amendment | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Tekmar Group plc | |
| b) | LEI | 213800839UQKQTV33E71 | |
| 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, type of instrument | Ordinary shares of 0.01p each | |
| Identification code | GB00BDFGGK53 | ||
| b) | Nature of transaction | Grant of options under the LTIP Schemes | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 144172 | ||
| d) | Aggregated information | ||
| Aggregated volume | NA | ||
| Price | NA | ||
| e) | Date of transaction | 03/08/2020 | |
| f) | Place of transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibility / person closely associated | ||
| a) | Name | Steven Rossiter | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Technology Officer, Tekmar Group plc | |
| b) | Initial notification/amendment | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Tekmar Group plc | |
| b) | LEI | 213800839UQKQTV33E71 | |
| 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, type of instrument | Ordinary shares of 0.01p each | |
| Identification code | GB00BDFGGK53 | ||
| b) | Nature of transaction | Grant of options under the LTIP Schemes | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 151760 | ||
| d) | Aggregated information | ||
| Aggregated volume | NA | ||
| Price | NA | ||
| e) | Date of transaction | 03/08/2020 | |
| f) | Place of transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibility / person closely associated | ||
| a) | Name | Fraser Gibson | |
| 2 | Reason for the notification | ||
| a) | Position/status | Managing Director, AgileTek Engineering Limited | |
| b) | Initial notification/amendment | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Tekmar Group plc | |
| b) | LEI | 213800839UQKQTV33E71 | |
| 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, type of instrument | Ordinary shares of 0.01p each | |
| Identification code | GB00BDFGGK53 | ||
| b) | Nature of transaction | Grant of options under the LTIP Schemes | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 136585 | ||
| d) | Aggregated information | ||
| Aggregated volume | NA | ||
| Price | NA | ||
| e) | Date of transaction | 03/08/2020 | |
| f) | Place of transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibility / person closely associated | ||
| a) | Name | David Thompson | |
| 2 | Reason for the notification | ||
| a) | Position/status | Managing Director, Subsea Innovation Limited | |
| b) | Initial notification/amendment | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Tekmar Group plc | |
| b) | LEI | 213800839UQKQTV33E71 | |
| 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, type of instrument | Ordinary shares of 0.01p each | |
| Identification code | GB00BDFGGK53 | ||
| b) | Nature of transaction | Grant of options under the LTIP Schemes | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 182112 | ||
| d) | Aggregated information | ||
| Aggregated volume | NA | ||
| Price | NA | ||
| e) | Date of transaction | 03/08/2020 | |
| f) | Place of transaction | Outside a trading venue |
Enquiries:
| Tekmar Group plc James Ritchie-Bland, Chief Executive Officer Sue Hurst, Chief Financial Officer |
+44 (0)1325 379 520 |
| Grant Thornton UK LLP (Nominated Adviser) Philip Secrett / Jen Clarke |
+44 (0)20 7383 5100 |
| Berenberg (Broker) Chris Bowman / Ben Wright / Richard Salmond |
+44 (0)20 3207 7800 |
| Belvedere Communications (Financial PR) Cat Valentine Keeley Clarke |
[email protected] +44 (0) 7715 769 078 +44 (0) 7967 816 525 |
About Tekmar Group plc - www.tekmargroup.com
Tekmar Group plc's vision is to be the partner of choice for the supply and installation support of subsea protection equipment to the global offshore energy markets. The Group has five primary operating companies; these are Tekmar Energy Limited, Subsea Innovation Limited, AgileTek Engineering Limited, Ryder Geotechnical Limited and Pipeshield International limited.
Tekmar Energy is a global market leader in protection systems for subsea cable, umbilical and flexible pipe. Tekmar have been trusted to protect billions of Euros worth of assets in the offshore wind, oil & gas, wave, tidal and interconnector markets since 1985.
Subsea Innovation is a global leader in the design, manufacture and supply of complex engineered equipment and technology used in the offshore energy market. Its products include large equipment handling systems which operate on the back of pipelay installation vessels; emergency pipeline repair clamps (EPRC) which protect major oil and gas pipelines, and bespoke equipment for use in the construction of offshore energy projects.
AgileTek Engineering is an award-winning subsea engineering consultancy for offshore energy projects. AgileTek helps its clients de-risk projects through advanced computer simulation and analysis. AgileDat, a division of AgileTek, provides software development, cloud architecture and data analytics services.
Ryder Geotechnical provides expert geotechnical design and consulting services to the offshore wind and subsea oil and gas sectors. Services include offshore structure foundation design, geohazard assessment and subsea cable routing and burial assessment.
Pipeshield International is a market leading provider of specialised subsea protection solutions in the form of concrete mattresses used for the stabilisation and impact protection of subsea equipment in areas where they cannot be buried and further to limit the development of scour (seabed erosion) particularly local to that of a foundation, pipeline or in marine ports.
Tekmar Energy and Tekmar Group plc is headquartered in Newton Aycliffe in the United Kingdom; AgileTek operates from an office in London; Subsea Innovation have their head office and manufacturing centre in Darlington, United Kingdom. Ryder operate in Newcastle and within AgileTek London, Pipeshield headquarters are in Lowestoft with manufacturing in Blyth. Tekmar Group plc also has representation in South Korea, USA, China and the Middle East.
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.
END
DSHPAMITMTIMBFM