NTQ Enteq Technologies Plc

TIDMNTQ

RNS Number : 5104G

Enteq Upstream PLC

26 July 2021

Enteq Upstream plc

(the "Company" or the "Group")

Awards under the Enteq Upstream plc Performance Share Plan ("PSP")

Enteq Upstream plc announces that its Remuneration Committee approved a further grant of awards under the Performance Share Plan ("PSP"). This grant came into effect on 23 July 2021 and combined with the on-going all employee share option scheme already in existence, is within the overall limits already approved by the Company's shareholders.

This further grant has a vesting date of 23 July 2024. The performance conditions relate equally to the achievement of both a cumulative adjusted EBITDA target and a total shareholder return growth target. These targets are set and monitored by the Remuneration Committee. The consideration payable for these awards on exercise is 1 pence per ordinary share. Under the terms of the PSP these awards are subject to claw back and malus provisions, and no holding period.

Andrew Law (CEO) was granted, subject to the performance conditions and rules of the scheme, PSP options over up to 633,803 Ordinary Shares, taking his total outstanding grants under the PSP scheme to options over 1,674,190 Ordinary Shares.

David Steel (CFO) was granted, subject to the performance conditions and rules of the scheme, PSP options over up to 522,254 Ordinary Shares, taking his total outstanding grants under the PSP scheme to options over 1,270,482 Ordinary Shares.

Neil Bird (Product Director) who is not on the Board but considered a Person Discharging Managerial Responsibilities, was granted, subject to the performance conditions and rules of the scheme, PSP options over up to 205,231 Ordinary Shares, taking his total outstanding grants under the PSP scheme to options over 205,231 Ordinary Shares.

 
 For further information, please contact: 
 
  Enteq Upstream plc +44 (0)20 8087 2202 
  www.enteq.com 
  Andrew Law, Chief Executive Officer 
  David Steel, Chief Financial Officer 
 
  finnCap Ltd (NOMAD and Broker) +44 (0)20 7220 0500 
  Ed Frisby, Emily Watts, Tim Harper (Corporate Finance) 
  Andrew Burdis, Barney Hayward (ECM) 
 
 
 
 1.   Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                              Andrew Law 
     --------------------------------  --------------------------------------- 
 2.   Reason for the notification 
     ------------------------------------------------------------------------- 
 a)   Position/status                   Chief Executive Officer 
     --------------------------------  --------------------------------------- 
 b)   Initial notification/Amendment    Initial notification 
     --------------------------------  --------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------- 
 a)   Name                              Enteq Upstream 
     --------------------------------  --------------------------------------- 
 b)   LEI                               2138006BKS2MOAPRUB75 
     --------------------------------  --------------------------------------- 
 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      Options over ordinary shares 
       instrument, type of instrument    of 1 pence each 
       Identification code               GB00B41Q8Q68 
     --------------------------------  --------------------------------------- 
 b)   Nature of the transaction         Issue of options 
     --------------------------------  --------------------------------------- 
 c)   Price(s) and volume(s)             Price(s)    Volume(s) 
                                          GBP0.01                      633,803 
                                                     ------------------------- 
     --------------------------------  --------------------------------------- 
 d)   Aggregated information            Not applicable - single transaction 
     --------------------------------  --------------------------------------- 
 e)   Date of the transaction           23 July 2021 
     --------------------------------  --------------------------------------- 
 f)   Place of the transaction          Outside a trading venue 
     --------------------------------  --------------------------------------- 
 
 
 1.   Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                               David Steel 
     ---------------------------------  ------------------------------------ 
 2.   Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status                    Chief Financial Officer 
     ---------------------------------  ------------------------------------ 
 b)   Initial notification/Amendment     Initial notification 
     ---------------------------------  ------------------------------------ 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                               Enteq Upstream 
     ---------------------------------  ------------------------------------ 
 b)   LEI                                2138006BKS2MOAPRUB75 
     ---------------------------------  ------------------------------------ 
 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       Options over ordinary shares 
       instrument, type of instrument     of 1 pence each 
       Identification code                GB00B41Q8Q68 
     ---------------------------------  ------------------------------------ 
 b)   Nature of the transaction          Issue of options 
     ---------------------------------  ------------------------------------ 
 c)   Price(s) and volume(s)              Price(s)    Volume(s) 
                                           GBP0.01     522,254 
                                                      ---------- 
     ---------------------------------  ------------------------------------ 
 d)   Aggregated information             Not applicable - single transaction 
     ---------------------------------  ------------------------------------ 
 e)   Date of the transaction            23 July 2021 
     ---------------------------------  ------------------------------------ 
 f)   Place of the transaction           Outside a trading venue 
     ---------------------------------  ------------------------------------ 
 
 
 1.   Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                               Neil Bird 
     ---------------------------------  ------------------------------------ 
 2.   Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status                    Product Director 
     ---------------------------------  ------------------------------------ 
 b)   Initial notification/Amendment     Initial notification 
     ---------------------------------  ------------------------------------ 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                               Enteq Upstream 
     ---------------------------------  ------------------------------------ 
 b)   LEI                                2138006BKS2MOAPRUB75 
     ---------------------------------  ------------------------------------ 
 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       Options over ordinary shares 
       instrument, type of instrument     of 1 pence each 
       Identification code                GB00B41Q8Q68 
     ---------------------------------  ------------------------------------ 
 b)   Nature of the transaction          Issue of options 
     ---------------------------------  ------------------------------------ 
 c)   Price(s) and volume(s)              Price(s)    Volume(s) 
                                           GBP0.01     205,231 
                                                      ---------- 
     ---------------------------------  ------------------------------------ 
 d)   Aggregated information             Not applicable - single transaction 
     ---------------------------------  ------------------------------------ 
 e)   Date of the transaction            23 July 2021 
     ---------------------------------  ------------------------------------ 
 f)   Place of the transaction           Outside a trading venue 
     ---------------------------------  ------------------------------------ 
 

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July 26, 2021 12:04 ET (16:04 GMT)