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Dialight

Director/PDMR Shareholding

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RNS Number : 9517R
Dialight PLC
05 March 2019
 

Dialight plc (Company)

 

Director/PDMR Shareholdings

5 March 2019

 

Options and Awards under the Dialight plc 2014 Performance Share Plan (PSP)

 

On 5 March 2019, the under mentioned Directors/Persons Discharging Managerial Responsibility, were granted nil cost options that entitled each of them to receive ordinary shares of 1.89 pence each in the Company in accordance with the rules of the PSP:

 

Name

Number of Options granted under the PSP  

Total number of shares over which incentive awards in the PSP held following notification

% of issued class

Fariyal Khanbabi

(Director)

68,803

196,685

0.604

Richard Allan

12,503

12,503

0.038

Gary Ashburner

10,002

10,002

0.031

 

On 5 March 2019, the under mentioned Directors/Persons Discharging Managerial Responsibility, were granted conditional awards that entitled them to acquire ordinary shares of 1.89 pence each in the Company in accordance with the rules of the PSP:

 

Name

Number of shares awarded under the PSP  

Total number of shares over which incentive awards in the PSP held following notification

% of issued class

Martin Rapp

(Director)

145,011

249,291

0.766

Luis Ramirez

29,425

54,193

0.167

Sri Talpallikar

11,153

11,153

0.034

Rizwan Ahmad

10,291

28,303

0.087

Aziz Rahman

9,966

9,966

0.031

Matt Boudiette

21,215

40,959

0.126

Tim Cillessen

10,530

14,851

0.046

 

Options and awards will normally vest on the third anniversary of grant subject to continued employment. In relation to the awards made to Martin L. Rapp and Fariyal Khanbabi only, the award and options (respectively) are subject to the satisfaction of two performance conditions as set out below.

25% of the option or award is measured against the Company's total shareholder return (TSR) over the three year period relative to the FTSE SmallCap Index (excluding investment trusts) (TSR Performance Condition). The remaining 75% of the option or award is measured against the Company's earnings per share (EPS) in 2021 (EPS Performance Condition).

TSR Performance Condition

No part of an option or award subject to the TSR Performance Condition shall vest if the percentage change in the Company's TSR is below the percentage change in the TSR of the comparator index. 25% of the ordinary shares subject to the TSR Performance Condition will vest if the percentage change in the Company's TSR is equal to the percentage change in the TSR of the comparator index, rising on a straight-line basis, to 100% vesting if the percentage change in the Company's TSR is equal to the change in the TSR of the index plus 10% per annum.

EPS Performance Condition

No part of an option or award subject to the EPS Performance Condition will vest if the Company's 2021 EPS is below 40p, 25% of the ordinary shares subject to the EPS Option/Award will vest if the Company's 2021 EPS reaches 40p, rising on a straight-line basis, to 100% vesting if the Company's 2021 EPS exceeds 60p.

No consideration was paid for the grant of these options and awards and no consideration is due to be paid by the participant on the vesting of these options and awards. On vesting options will be exercisable between 5 March 2022 and 5 March 2024.

Holding Period

A mandatory two-year post-vesting holding period applies to the PSP options/awards granted to Martin L. Rapp and Fariyal Khanbabi.

 

The details of the awards and options are as follows:

 

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

i.              Martin L. Rapp

ii.            Fariyal Khanbabi

iii.           Richard Allan

iv.            Luis Ramirez

v.             Sri Talpallikar

vi.            Rizwan Ahmad

vii.          Aziz Rahman

viii.         Matt Boudiette

ix.            Gary Ashburner

x.             Tim Cillessen

2.

Reason for the notification

(a)

Position / status

i.              Group Chief Executive

ii.            Group Finance Director

iii.           Group General Counsel

iv.            Chief Operating Officer

v.             VP, Sales and Marketing

vi.            VP, Technology

vii.          VP, Engineering

viii.         VP, Signals / Components / Obstruction / Wind

ix.            VP, Sales - Americas

x.             VP / GM EMEA

(b)

Initial notification / amendment

Initial notification

3.

Details of the issuer

(a)

Name

Dialight plc

(b)

LEI

2138001AD31KKD29Z495

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

Ordinary shares of £0.0189 each

(b)

Identification code of the Financial Instrument

GB0033057794

(c)

Nature of the transaction

Grant of share options/awards under the Dialight plc PSP equity scheme

(d)

Price(s) and volume(s)

Price(s)

Volume(s)



i.              Nil

ii.            Nil

iii.           Nil

iv.            Nil

v.             Nil

vi.            Nil

vii.          Nil

viii.         Nil

ix.            Nil

x.             Nil

i.              145,011

ii.            68,803

iii.           12,503

iv.            29,425

v.             11,153

vi.            10,291

vii.          9,966

viii.         21,215

ix.            10,002

x.             10,530

(e)

Aggregated information

-       Aggregated volume

-       Price

 

328,899 awards and options

Nil

(f)

Date of the transaction

5 March 2019

(g)

Place of the transaction

Outside a trading venue

 

This announcement is made in accordance with Article 19.3 of the Market Abuse Regulation.

 

Richard Allan

General Counsel

Tel: +44 (0) 203 058 3546


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
 
 
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Quick facts: Dialight

Price: £3.46

Market: LSE
Market Cap: £112.41 m
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