Brady plc, a leading global provider of trading, risk management and settlement solutions to the commodity and energy markets, announces that Carmen Carey, Chief Executive Officer, has been granted nil cost options over a total of 431,034 new ordinary shares of 1 pence each in the capital of the Company ("Options"), under the Company's 2015 Long Term Incentive Plan ("LTIP"), as announced on 23 September 2015. Following this grant Carmen Carey will hold a total of 431,034 Options. The Options have a two-year holding period (post vesting) and will vest subject to the achievement of certain EBITDA and EPS targets, which are detailed below.
Following these grants, there are a total of 2,134,193 outstanding Options and Awards equivalent to 2.6 per cent of the Company's issued share capital.
Fifty per cent (50%) of the grant is measured against growth in Adjusted EPS and fifty per cent (50%) is measured against growth in Adjusted EBITDA. Growth in Adjusted EPS and growth in Adjusted EBITDA will be measured from the base Financial Year 2018 over three consecutive Financial Years. The Options / Awards will Vest as follows:
Financial Year 2021 EBITDA £'000
Financial Year 2021 EPS
Vesting % of Award
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
Details of the person discharging managerial responsibilities / person closely associated
(1) Carmen Carey
Reason for the notification
(1) Chief Executive Officer
Initial notification /Amendment
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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
Description of the financial instrument, type of instrument
Ordinary shares of 1p each in the Company
Nature of the transaction
Grant of nil cost Options over Ordinary Shares of 1 pence
Price(s) and volume(s)
(1) Nil cost
- Aggregated volume
N/A - single transaction
Date of the transaction
30 April 2019
Place of the transaction
Outside a trading venue
For further information, please contact:
Brady plc Carmen Carey, Chief Executive Officer Martin Thorneycroft, Finance Director
Telephone: +44(0)1223 479479
Cenkos Securities plc - NOMAD and Broker Mark Connelly - Corporate Finance
Telephone: +44 (0)20 7397 8900
Newgate Communications Bob Huxford/ Ian Silvera
Telephone: +44 (0)20 7653 9848
Brady plc (BRY.L) is the largest European‐headquartered provider of trading and risk management software to the global commodity and energy markets. Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for energy, refined and unrefined, soft commodities and agriculturals.
Brady has 30 years' expertise in the commodity markets and its clients include many of the world's largest financial institutions, trading companies, miners, refiners and producers, tier one banks, a large number of London Metal Exchange (LME) Category 1 and 2 clearing members and many leading European energy generators, traders and consumers.
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.
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