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Calnex Solutions plc
("Calnex" or the "Company")
Long-Term Incentive Plan Awards
Calnex Solutions plc (AIM: CLX), a leading provider of test and measurement solutions for the global telecommunications sector, is pleased to confirm that the Company has now implemented a long-term incentive plan ("LTIP") for the executive and senior management team, under which it is intended that annual awards subject to performance metrics will be granted.
As indicated in Calnex's annual report for the year ended 31 March 2023 ("Annual Report") the Company obtained external advice on the design of the LTIP and consulted with shareholders on its key terms.
A total of 931,426 awards under the LTIP have been granted in the form of nominal cost share options, which will vest over a three-year period commencing 1 April 2023, subject to the satisfaction of performance metrics relating to the Company's earnings per share, revenue and absolute shareholder return.
Further details on the LTIP are set out in the Annual Report.
For more information, please contact:
Calnex Solutions plc | Via Alma PR |
Tommy Cook, Chief Executive Officer Ashleigh Greenan, Chief Financial Officer | |
| |
Cenkos Securities plc - Nomad | +44 (0)131 220 6939 |
Derrick Lee / Peter Lynch | |
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Alma PR | + 44(0) 20 3405 0213 |
Caroline Forde, Hannah Campbell, Joe Pederzolli | |
1 | Details of PDMR/person closely associated with them ("PCA") | |||||
a) | Name | Tommy Cook | ||||
2 | Reason for the Notification | |||||
a) | Position/Status | Director - CEO | ||||
b) | Initial notification / amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Calnex Solutions plc | ||||
b) | LEI | 213800GY6TURGL3HYT04 | ||||
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 Identification code | Ordinary shares of 0.125 pence
| ||||
b) | Nature of the transaction | Grant of awards under the Company's Long-Term Incentive Plan (LTIP) with an exercise price of 1 pence per share | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information · Aggregated volume · Price |
N/A | ||||
e) | Date of the transaction | 5 June 2023 | ||||
f) | Place of the transaction | Outside of a trading venue |
1 | Details of PDMR/person closely associated with them ("PCA") | |||||
a) | Name | Ashleigh Greenan | ||||
2 | Reason for the Notification | |||||
a) | Position/Status | Director - CFO | ||||
b) | Initial notification / amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Calnex Solutions plc | ||||
b) | LEI | 213800GY6TURGL3HYT04 | ||||
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 Identification code | Ordinary shares of 0.125 pence
| ||||
b) | Nature of the transaction | Grant of awards under the Company's Long-Term Incentive Plan (LTIP) with an exercise price of 1 pence per share | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information · Aggregated volume · Price |
N/A | ||||
e) | Date of the transaction | 5 June 2023 | ||||
f) | Place of the transaction | Outside of a trading venue |
1 | Details of PDMR/person closely associated with them ("PCA") | |||||
a) | Name | Anand Ram | ||||
2 | Reason for the Notification | |||||
a) | Position/Status | PDMR - VP Business Development | ||||
b) | Initial notification / amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Calnex Solutions plc | ||||
b) | LEI | 213800GY6TURGL3HYT04 | ||||
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 Identification code | Ordinary shares of 0.125 pence
| ||||
b) | Nature of the transaction | Grant of awards under the Company's Long-Term Incentive Plan (LTIP) with an exercise price of 1 pence per share | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information · Aggregated volume · Price |
N/A | ||||
e) | Date of the transaction | 5 June 2023 | ||||
f) | Place of the transaction | Outside of a trading venue |
1 | Details of PDMR/person closely associated with them ("PCA") | |||||
a) | Name | Jeff Wright | ||||
2 | Reason for the Notification | |||||
a) | Position/Status | PDMR - VP Engineering | ||||
b) | Initial notification / amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Calnex Solutions plc | ||||
b) | LEI | 213800GY6TURGL3HYT04 | ||||
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 Identification code | Ordinary shares of 0.125 pence
| ||||
b) | Nature of the transaction | Grant of awards under the Company's Long-Term Incentive Plan (LTIP) with an exercise price of 1 pence per share | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information · Aggregated volume · Price |
N/A | ||||
e) | Date of the transaction | 5 June 2023 | ||||
f) | Place of the transaction | Outside of a trading venue |
1 | Details of PDMR/person closely associated with them ("PCA") | |||||
a) | Name | Claire Wishart | ||||
2 | Reason for the Notification | |||||
a) | Position/Status | PDMR - Head of HR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Calnex Solutions plc | ||||
b) | LEI | 213800GY6TURGL3HYT04 | ||||
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 Identification code | Ordinary shares of 0.125 pence
| ||||
b) | Nature of the transaction | Grant of awards under the Company's Long-Term Incentive Plan (LTIP) with an exercise price of 1 pence per share | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information · Aggregated volume · Price |
N/A | ||||
e) | Date of the transaction | 5 June 2023 | ||||
f) | Place of the transaction | Outside of a trading venue |
1 | Details of PDMR/person closely associated with them ("PCA") | |||||
a) | Name | Ger Kirk | ||||
2 | Reason for the Notification | |||||
a) | Position/Status | PDMR - VP Quality | ||||
b) | Initial notification / amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Calnex Solutions plc | ||||
b) | LEI | 213800GY6TURGL3HYT04 | ||||
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 Identification code | Ordinary shares of 0.125 pence
| ||||
b) | Nature of the transaction | Grant of awards under the Company's Long-Term Incentive Plan (LTIP) with an exercise price of 1 pence per share | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information · Aggregated volume · Price |
N/A | ||||
e) | Date of the transaction | 5 June 2023 | ||||
f) | Place of the transaction | Outside of a trading venue |
1 | Details of PDMR/person closely associated with them ("PCA") | |||||
a) | Name | Stephen Edmiston | ||||
2 | Reason for the Notification | |||||
a) | Position/Status | PDMR - VP Operations | ||||
b) | Initial notification / amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Calnex Solutions plc | ||||
b) | LEI | 213800GY6TURGL3HYT04 | ||||
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 Identification code | Ordinary shares of 0.125 pence
| ||||
b) | Nature of the transaction | Grant of awards under the Company's Long-Term Incentive Plan (LTIP) with an exercise price of 1 pence per share | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information · Aggregated volume · Price |
N/A | ||||
e) | Date of the transaction | 5 June 2023 | ||||
f) | Place of the transaction | Outside of a trading venue |
The information in the above notification is disclosed in accordance with Article 19 of the EU Market Abuse Regulation.
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