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RNS Number : 2564I
Tekmar Group PLC
31 March 2020
 

 

31 March 2020

 

Tekmar Group plc

("Tekmar", the "Group" or the "Company")

 

Grant of options under SAYE scheme
and
PDMR dealing notification

 

Tekmar Group plc, a market-leading technology provider of subsea protection systems is pleased to announce that it has launched a Save As You Earn scheme ("SAYE Scheme") for all its eligible permanent UK employees.

 

Such eligible employees were invited to subscribe for options "Options" over the Company's ordinary shares of 0.01 pence each ("Ordinary Shares") which have been granted at an exercise price of 0.83 pence per Ordinary Share in accordance with the rules of the SAYE Scheme. The options were issued on 31 March 2020 and will normally be exercisable from 1 May 2023 for a period of six months.

 

Sue Hurst, CFO said: "We are extremely pleased to launch our first SAYE Scheme for staff.  We have wanted to do this since IPO but restrictions under the regulations have prevented us from doing so.  This was the first window in which to launch our scheme, which we have been planning for some time. The Board reviewed the impact of the current extraordinary circumstances in terms of whether this would impact the decision to launch the scheme and decided that staff should not be disadvantaged further.  The scheme was approved by the Board and we are happy with the level of participation." 

 

52 employees have elected to participate in the 2020 SAYE Scheme and, as a result, options over 428,983 Ordinary Shares have been granted, representing 0.84 % of the Company's issued share capital.

 

The following Persons Discharging Managerial Responsibility ("PDMRs") have chosen to participate in the 2020 SAYE Scheme:

 

Name

Position

Number of 2020 SAYE options granted

Total number of options over Ordinary Shares

Total interest in Ordinary Shares (No.)

Total interest in Ordinary Shares (%)

 

Russell Edmondson

 

 

 

Fraser Gibson

 

Managing Director Tekmar Energy Ltd

 

Managing Director

Ryder Geotechnical Ltd

 

 

21,686

 

 

 

 

13,012

 

 

 

 

 

 

146,686

 

 

 

 

13,012

 

197,686

 

 

 

 

0

 

0.39%

 

 

 

 

0

 

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

 

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 2020 SAYE Scheme

 

 

c)

 

Price(s) and volume(s)

 

Price(s)

 

Volume(s)

 

Nil

 

21686

 

d)

 

Aggregated information

 

Aggregated volume

 

NA

 

Price

 

NA

 

e)

 

Date of transaction

 

31/03/2020

 

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 Ryder Geotechnical 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 2020 SAYE Scheme

 

 

c)

 

Price(s) and volume(s)

 

Price(s)

 

Volume(s)

 

Nil

 

13012

 

d)

 

Aggregated information

 

Aggregated volume

 

NA

 

Price

 

NA

 

e)

 

Date of transaction

 

31/03/2020

 

f)

 

Place of transaction

 

Outside a trading venue

 

 For further information contact:

 

Tekmar Group plc

James Ritchie, Chief Executive Officer

Sue Hurst, Chief Financial Officer

 

Tel: +44 (0)1325 379 520

Grant Thornton UK LLP (Nominated Adviser)

Philip Secrett / Samantha Harrison

 

Tel: +44 (0)20 7383 5100

Berenberg (Broker)

Chris Bowman / Ben Wright

 

Tel:  +44 (0)20 3207 7800

Belvedere Communications (Financial PR)

Cat Valentine

Llew Angus

Keeley Clarke

TekmarPR@belvederepr.com

Tel: +44 (0) 7715 769 078

Tel: +44 (0) 7407 023 147

Tel: +44 (0) 7967 816 525

 

About Tekmar Group plc - https://investors.tekmar.co.uk/

 

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: https://www.tekmar.co.uk/

 

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: https://www.subsea.co.uk/

 

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. https://agiletek.co.uk/ AgileDat, a division of AgileTek, provides software development, cloud architecture and data analytics services. https://agiledat.co.uk/

 

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.  https://www.rydergeotechnical.com/

 

Pipeshield 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. http://www.pipeshield.com/.

 

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 headquarter are in Lowestoft with manufacturing in Blyth North East, Tekmar Group plc also has representation in South Korea, USA, China and across the Middle East.

 

 


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