Grant of Options
03 December 19
("Tracsis" or the "Group")
Grant of options
Tracsis announces that, following a meeting of the Group's remuneration committee on 20 November 2019, it formally granted 38,961 share options on 2 December 2019 to Chris Barnes, Chief Executive Officer.
This award is part of Tracsis' Long Term Incentive Plan (LTIP) and is designed to retain and motivate Executive Directors whilst at the same time setting challenging performance targets that are specifically aligned with the Group's strategic goals and shareholder interests.
The options awarded have an exercise price of 0.4p and are directly linked to performance targets based on Group profitability and Total Shareholder Return relative to an AIM peer group determined by Tracsis' remuneration committee.
Full award is only exercisable should statutory diluted Earnings Per Share (EPS) for the year ending 31 July 2022 be at least 25.92p, and Total Shareholder Return (TSR) versus AIM peer group is in the top quartile. Were statutory diluted EPS for the year ending 31 July 2022 to be less than 22.92p, and TSR versus the peer group is less than the median, no options will be exercisable. For scenarios between the above range, the options will be exercisable on a straight-line sliding scale basis.
The resulting interests of Chris Barnes in Tracsis plc can be summarised as follows:
Ordinary shares of 0.4p held
% of issued share capital
LTIP Options held prior to this award
LTIP Options awarded
LTIP Options after this award
Tracsis plc | Tel: 0845 125 9162
Chris Barnes, CEO
Max Cawthra, CFO
finnCap Ltd | Tel: 020 7220 0500
Christopher Raggett/Scott Mathieson, Corporate Finance
Andrew Burdis, Corporate Broking