TIDMRDT
RNS Number : 2368O
Rosslyn Data Technologies PLC
29 September 2023
29 September 2023
Rosslyn Data Technologies plc
("Rosslyn" or the "Company")
Grant and Cancellation of Options
Further to the Company's announcement of 30 August 2023, Rosslyn
(AIM: RDT), the provider of a leading cloud-based enterprise data
analytics platform , announces the grant of options over ordinary
shares of 25p each in the Company ("Ordinary Shares") and the
concurrent cancellation of options over Ordinary Shares. This
includes the grant of options to, and cancellation of options held
by, a Director and a PDMR of the Company.
As referenced in the Company's circular to shareholders dated 31
August 2023, the Board recognises the importance of share options
to appropriately incentivise and retain employees as well as to
ensure their interests are aligned with that of Company and its
shareholders. Following a review of employee incentives, the
Remuneration Committee of the Board recommended that, given the
reduction in the Company's share price and the changes in the share
capital following the recent fundraising and share consolidation,
the existing awards of share options were no longer a reasonable
incentive and should be replaced to re-align the option scheme with
the current share price and share capital. The Board of Directors
approved this recommendation and is adopting a new share option
plan. The adoption of the new share option plan was approved by
shareholders at the general meeting of the Company on 18 September
2023.
Accordingly, the Company, on 29 September 2023, cancelled
525,846* options over Ordinary Shares ("Historic Options"),
including those held by a Director and a PDMR of the Company as
detailed below. The holders of the Historic Options have agreed to
their cancellation with immediate effect.
On 29 September 2023 (the "Grant Date"), the Company granted a
total of 1,871,833 options over Ordinary Shares (the "New
Options"), a portion of which are to replace the Historic Options
alongside the grant of options to new holders. This includes the
grant of options to a Director and PDMR of the Company as detailed
below.
PDMR Number of Exercise Number of Total number
New Options price of Historic of options
granted New Options Options cancelled* held following
granted the grant
and cancellation
of options
Paul Watts, CEO
and Director 882,964 25.0p 322,134 882,964
------------- ------------- -------------------- ------------------
Ed Riddell, CFO 441,482 25.0p 100,000 441,482
------------- ------------- -------------------- ------------------
* The number of options following the 50:1 share consolidation
on 19 September 2023
The New Options granted to Paul Watts and Ed Riddell vest in
three equal tranches on the first, second and third anniversaries
of the Grant Date subject to the satisfaction of performance
criteria related to increases in share price and the achievement of
targets related to ARR, revenue and EBITDA. The New Options expire
10 years from the Grant Date and are exercisable subject to the
satisfaction of the performance achievements and the individual
remaining an employee of the Company. The exercise price of 25.0 p
represents the price at which the new Ordinary Shares were issued
in the Company's recent fundraising adjusted for the share
consolidation.
Following the cancellation of the Historic Options and grant of
the New Options, the Company now has options outstanding over a
total of 1,939,549 Ordinary Shares, representing 11.0% of the
current issued share capital of the Company.
For further information please contact:
Rosslyn
Paul Watts, Chief Executive Officer
James Appleby, Chairman +44 (0)20 3285 8008
--------------------
Cavendish Securities (Nominated
adviser and Broker)
--------------------
Stephen Keys/Camilla Hume/George
Lawson +44 (0)20 7220 0500
--------------------
Gracechurch Group (Financial PR)
--------------------
Claire Norbury/Anysia Virdi +44 (0)20 4582 3500
--------------------
About Rosslyn Data Technologies plc
Rosslyn (AIM: RDT) provides an award-winning spend analytics and
predictive analytics platform. The Rosslyn Platform helps
organizations with diverse supply chains mitigate risk and make
informed strategic decisions. It leverages automated workflows,
artificial intelligence and machine learning to extract and
consolidate procurement data providing visibility of complex
supplier data, enabling supplier spend savings and delivering
rapid ROI. For more information visit www.rosslyn.ai
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
Details of the person discharging managerial responsibilities/person
1 closely associated
a) Name Paul Watts
------------------------------- --------------------------------------------------------
Reason for the notification
2
-----------------------------------------------------------------------------------------
a) Position/status Executive Director and CEO
------------------------------- --------------------------------------------------------
b) Initial notification/amendment Initial Notification
------------------------------- --------------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------
a) Name Rosslyn Data Technologies plc
------------------------------- --------------------------------------------------------
b) LEI 213800UJ7YTBGGXGJN09
------------------------------- --------------------------------------------------------
Details of the transaction(s): section to be repeated
4 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 Options over ordinary shares of 0.5
financial instrument, pence each
type of instrument
Identification code GB00BMV2DB09
b) Nature of the transaction Grant and cancellation of options
------------------------------- --------------------------------------------------------
c) Price(s) and volume(s)
--------------------------- -----------------------
Price(s) Volume(s)
--------------------------- -----------------------
25.0 pence (GRANT) 882,964 (GRANT)
--------------------------- -----------------------
260.0 pence (CANCELLATION) 38,461 (CANCELLATION)
--------------------------- -----------------------
245.0 pence (CANCELLATION) 183,673 (CANCELLATION)
--------------------------- -----------------------
49.5 pence (CANCELLATION) 100,000 (CANCELLATION)
--------------------------- -----------------------
d) Aggregated information
- Aggregated volume N/A
- Price N/A
e) Date of the transaction 29 September 2023
------------------------------- --------------------------------------------------------
f) Place of the transaction Off market
------------------------------- --------------------------------------------------------
Details of the person discharging managerial responsibilities/person
1 closely associated
a) Name Edward Riddell
------------------------------- -------------------------------------------------------
Reason for the notification
2
----------------------------------------------------------------------------------------
a) Position/status CFO and PDMR
------------------------------- -------------------------------------------------------
b) Initial notification/amendment Initial Notification
------------------------------- -------------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------------
a) Name Rosslyn Data Technologies plc
------------------------------- -------------------------------------------------------
b) LEI 213800UJ7YTBGGXGJN09
------------------------------- -------------------------------------------------------
Details of the transaction(s): section to be repeated
4 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 Options over ordinary shares of 0.5
financial instrument, pence each
type of instrument
Identification code GB00BMV2DB09
b) Nature of the transaction Grant and cancellation of options
------------------------------- -------------------------------------------------------
c) Price(s) and volume(s)
-------------------------- -----------------------
Price(s) Volume(s)
-------------------------- -----------------------
25.0 pence (GRANT) 441,482 (GRANT)
-------------------------- -----------------------
49.5 pence (CANCELLATION) 100,000 (CANCELLATION)
-------------------------- -----------------------
d) Aggregated information
- Aggregated volume N/A
- Price N/A
e) Date of the transaction 29 September 2023
------------------------------- -------------------------------------------------------
f) Place of the transaction Off market
------------------------------- -------------------------------------------------------
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END
DSHNKCBNPBKDPCB
(END) Dow Jones Newswires
September 29, 2023 11:38 ET (15:38 GMT)
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