TIDMNWT
RNS Number : 2294O
Newmark Security PLC
01 October 2019
1 October 2019
Newmark Security plc
("Newmark" or the "Company")
Adoption of New Share Option Scheme and grant of options
Newmark Security plc (AIM: NWT), a leading provider of
electronic and physical security systems, announces the adoption of
the Newmark Security plc 2019 EMI Share Option Plan (the "Plan")
and the grant of options to Marie-Claire Dwek, CEO of the
Company.
The Plan is being introduced to recruit, retain and incentivise
Directors and employees of the Company and its subsidiaries. The
number of options that may be awarded under the Plan is limited to
a maximum number of new ordinary shares of 1p each in the Company
("Ordinary Shares") representing 15 per cent. of the Company's
issued share capital and may be issued as tax-effective enterprise
management incentives where appropriate.
Grant of options to Newmark CEO
Under her service agreement, Marie-Claire Dwek is entitled to
receive options over Ordinary Shares representing at least 20 per
cent. of her annual salary. Grants for the years 2016 to 2018 were
not made at that time as the Company was in a transition period and
the Board was concentrating on the development of the Company.
Marie-Claire Dwek previously held EMI options over 15,416,082
Ordinary Shares (the "Historic Options") with exercise prices and
vesting dates as follows:
Year No. of Historic Exercise Vesting dates
of grant Options price
2013 12,363,636 1.375p Fully vested
---------------- --------- -------------------------------------
2014 1,909,589 1.825p Fully vested
---------------- --------- -------------------------------------
2/3 vested, 1/3 vest on 15 September
2015 1,142,857 3.325p 2020
---------------- --------- -------------------------------------
Total 15,416,082
----------------
The Company and Marie-Claire Dwek have agreed to the
cancellation of the Historic Options and the Company has today
granted to Marie-Claire Dwek new options over a total of 22,728,582
Ordinary Shares under the Plan (the "CEO Replacement Options"). The
CEO Replacement Options are exercisable at 1.8p per option and
replace the Historic Options and options that Marie-Claire Dwek was
entitled to between 2016 and 2018. As a result, the CEO Options
have varying vesting dates, as follows:
Grant year Number of Vesting dates
representing CEO Options
2013 12,363,636 Fully vested
------------- --------------------------------------------
2014 1,909,589 Fully vested
------------- --------------------------------------------
2015 1,142,857 2/3 vested, 1/3 vest on 15/09/20
------------- --------------------------------------------
2016 2,437,500 1/3 vested, 1/3 vest on 15/09/20, 1/3 vest
on 15/09/21
------------- --------------------------------------------
2017 2,437,500 1/3 vest on 15/09/20, 1/3 vest on 15/09/21,
1/3 vest on 15/09/22
------------- --------------------------------------------
2018 2,437,500 1/3 vest on 15/09/21, 1/3 vest on 15/09/22,
1/3 vest on 15/09/23
------------- --------------------------------------------
22,728,582 Total
------------- --------------------------------------------
The CEO Options lapse on the tenth anniversary of the date of
grant and are not subject to any performance related vesting
criteria.
In addition, Marie-Claire Dwek has been granted options over
5,939,692 Ordinary shares in respect of the year ended 30 April
2019 (the "CEO 2019 Options"). The number of CEO 2019 Options
granted has been calculated based on the Company's closing
mid-market share price on 30 September 2019 of 0.65p. As the
current share price is below the nominal value of an Ordinary
Share, the CEO 2019 Options are exercisable at 1p per option. They
vest as to 1/3 on 30 September 2022, 1/3 on 30 September 2023 and
1/3 on 30 September 2024. The CEO 2019 Options lapse on the tenth
anniversary of the date of grant.
Following the cancellation of the Historic Options and the grant
of the CEO Replacement Options and the CEO 2019 Options,
Marie-Claire Dwek holds options over a total of 28,668,274 Ordinary
Shares, representing 6.12% of the Company's issued share
capital.
Total options outstanding
Following the grant of the CEO Replacement Options and CEO 2019
Options, Newmark has options outstanding over a total of 37,668,274
Ordinary Shares, representing 8.04% of the Company's issued share
capital.
Related party transaction
The cancellation of the Historic Options and grants of the CEO
Replacement Options and the CEO 2019 Options constitute related
party transactions pursuant to the AIM Rules for Companies. The
Directors of Newmark (excluding Marie-Claire Dwek and Maurice
Dwek), having consulted with the Company's nominated adviser,
consider the terms of these transactions to be fair and reasonable
insofar as shareholders are concerned.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Marie-Claire Dwek
--------------------------- --------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status CEO
--------------------------- --------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Newmark Security plc
--------------------------- --------------------------------------------
b) LEI 213800CL2XGDB1YCLM67
--------------------------- --------------------------------------------
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 Options over ordinary shares of 1p each
the financial instrument, in Newmark Security plc
type of instrument Identification code (ISIN) for Newmark
Identification Security plc ordinary shares: GB0006596406
code
--------------------------- --------------------------------------------
b) Nature of the transaction Purchase of shares
--------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1.8p exercise
price 22,728,582
-----------
1p exercise
price 5,939,692
-----------
--------------------------- --------------------------------------------
d) Aggregated information Price(s) Volume(s)
- Aggregated volume n/a n/a
- Price ----------
--------------------------- --------------------------------------------
e) Date of the transaction 30 September 2019
--------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue - grant of options
--------------------------- --------------------------------------------
For further information:
Newmark Security plc
Marie-Claire Dwek, Chief Executive Tel: +44 (0) 20 7355 0070
Officer www.newmarksecurity.com
Brian Beecraft, Group Finance
Director
Allenby Capital Limited Tel: +44 (0) 20 3328 5656
(Nominated Adviser and Broker)
James Reeve / Liz Kirchner
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 rns@lseg.com or visit www.rns.com.
END
MSCLMMFTMBTJBBL
(END) Dow Jones Newswires
October 01, 2019 02:00 ET (06:00 GMT)
Newmark Security (LSE:NWT)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Newmark Security (LSE:NWT)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024