Grant of Options
("Tracsis" or the "Group")
Grant of options
Tracsis announces that, following a meeting of the Group's remuneration committee, on 29 December 2020 it granted 40,891 share options on 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 2023 be at least 23.78p, and Total Shareholder Return (TSR) versus AIM peer group is in the top quartile. Where statutory diluted EPS for the year ending 31 July 2023 be less than 20.78p, 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 - N/A
% of issued share capital - N/A
LTIP Options held prior to this award - 60,378
LTIP Options awarded - 40,891
LTIP Options after this award - 101,269
Tracsis plc | Tel: 0845 125 9162
Chris Barnes, CEO
Max Cawthra, CFO
finnCap Ltd | Tel: 020 7220 0500
Christopher Raggett/Charlie Beeson, Corporate Finance
Andrew Burdis, Corporate Broking
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