Craneware plc
("Craneware" or the "Company")
Grant of Long Term Incentive Plan Awards
17 September 2024 - The Board of Craneware plc (AIM: CRW.L), the market leader in automated Value Cycle solutions for the US healthcare market, announces that on 16 September 2024, under the terms of the Craneware plc Long Term Incentive Plan (2022) ("LTIP"), a conditional award of ordinary shares of 1p each in the Company ("Shares") was granted to three Directors of the Company and to the Company's Chief Legal Officer who is also considered to be a person discharging managerial responsibilities ("PDMR") as follows:
| Director / other PDMR | No. of Shares over which a conditional share award was granted | Percentage of issued share capital of the Company* |
| Keith Neilson (Director & CEO) | 24,551 | 0.070% |
| Craig Preston (Director & CFO) | 19,506 | 0.055% |
| Isabel Urquhart (Director & CPO) | 12,645 | 0.036% |
| Eric Carter (CLO) | 8,562 | 0.024% |
*excluding 223,264 Ordinary Shares held in treasury.
The awards will ordinarily vest after three years subject to:
(i) the satisfaction of certain performance conditions (each with 50% weighting) based on: (a) the Company's total shareholder return ("TSR") performance relative to the performance achieved by the constituent companies within the FTSE AIM 100 Index; and (b) compound annual growth in adjusted diluted earnings per share, as reported in the consolidated financial statements of the Company and its subsidiaries; and
(ii) the award holder's continued employment.
The performance conditions are measured in three tranches such that one third of the Shares over which the LTIP awards subsist will vest based on performance over the three financial years ending on 30 June 2025, one third based on performance over the three financial years to 30 June 2026 and the final third based on performance over the three financial years to 30 June 2027 - an aggregate five year period. Any tranche (or part thereof) that does not meet the performance criteria will lapse.
If and to the extent that these LTIP awards vest, the resulting (net of tax) Shares will be subject to a two year holding period.
There was no consideration for the grant of the LTIP awards and no consideration will be payable by the award holders to receive the Shares from these LTIP awards, if and to the extent that they vest.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:
PDMR notification: Keith Neilson
1. Details of the Restricted Person / person closely associated with him or her
a) Name Keith Neilson
2. Reason for the notification
a) Position / status CEO
b) Initial notification / Amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Craneware plc
b) LEI 213800O2CTJ1YFXNXG05
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 1p each in the capital of Craneware plc
b) Identification code ISIN GB00B2425G68
c) Nature of the transaction Grant of conditional share award under the Craneware plc
Long Term Incentive Plan (2022)
d) Price(s) and volume(s) Volume(s) granted 24,551, Price(s) £0
e) Aggregated information:
i. Aggregated volume Aggregate volume granted 24,551
ii. Price Price(s) £0
f) Date of the transaction 2024-09-16
g) Place of the transaction Outside a trading venue
PDMR notification: Craig Preston
1. Details of the Restricted Person / person closely associated with him or her
a) Name Craig Preston
2. Reason for the notification
a) Position / status CFO
b) Initial notification / Amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Craneware plc
b) LEI 213800O2CTJ1YFXNXG05
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 1p each in the capital of Craneware plc
b) Identification code ISIN GB00B2425G68
c) Nature of the transaction Grant of conditional share award under the Craneware plc
Long Term Incentive Plan (2022)
d) Price(s) and volume(s) Volume(s) granted 19,506, Price(s) £0
e) Aggregated information:
i. Aggregated volume Aggregate volume granted 19,506
ii. Price Price(s) £0
f) Date of the transaction 2024-09-16
g) Place of the transaction Outside a trading venue
PDMR notification: Isabel Urquhart
1. Details of the Restricted Person / person closely associated with him or her
a) Name Isabel Urquhart
2. Reason for the notification
a) Position / status Chief People Officer
b) Initial notification / Amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Craneware plc
b) LEI 213800O2CTJ1YFXNXG05
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 1p each in the capital of Craneware plc
b) Identification code ISIN GB00B2425G68
c) Nature of the transaction Grant of conditional share award under the Craneware plc
Long Term Incentive Plan (2022)
d) Price(s) and volume(s) Volume(s) granted 12,645, Price(s) £0
e) Aggregated information:
i. Aggregated volume Aggregate volume granted 12,645
ii. Price Price(s) £0
f) Date of the transaction 2024-09-16
g) Place of the transaction Outside a trading venue
PDMR notification: Eric Carter
1. Details of the Restricted Person / person closely associated with him or her
a) Name Eric Carter
2. Reason for the notification
a) Position / status Chief Legal Officer
b) Initial notification / Amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Craneware plc
b) LEI 213800O2CTJ1YFXNXG05
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 1p each in the capital of Craneware plc
b) Identification code ISIN GB00B2425G68
c) Nature of the transaction Grant of conditional share award under the Craneware plc
Long Term Incentive Plan (2022)
d) Price(s) and volume(s) Volume(s) granted 8,562, Price(s) £0
e) Aggregated information:
i. Aggregated volume Aggregate volume granted 8,562
ii. Price Price(s) £0
f) Date of the transaction 2024-09-16
g) Place of the transaction Outside a trading venue
For further information, please contact:
| Craneware plc | +44 (0)131 550 3100 |
| Keith Neilson, CEO | |
| Craig Preston, CFO | |
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| Alma Strategic Communications (Financial PR) | +44 (0)20 3405 0205 |
| Caroline Forde, Kinvara Verdon | craneware@almastrategic.com |
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| Peel Hunt (NOMAD and Joint Broker) | +44 (0)20 7418 8900 |
| Neil Patel, Benjamin Cryer, Kate Bannatyne | |
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| Investec Bank PLC (Joint Broker) | +44 (0)20 7597 5970 |
| Patrick Robb, Henry Reast, Shalin Bhamra | |
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| Berenberg (Joint Broker) | +44 (0)20 3207 7800 |
| Mark Whitmore, Richard Andrews, Dan Gee-Summons | |
About Craneware
The Craneware Group (AIM:CRW.L), is the market leader in value cycle solutions. For 25 years, we have collaborated with U.S. healthcare providers to optimize revenue integrity, pricing intelligence, decision support, labor productivity, business of pharmacy, and 340B program management.
Customers choose Trisus®, a HITRUST- and SOC2 Type II-certified, SaaS platform, to achieve operational and financial excellence in pursuit of their healthcare mission - delivering quality care to their communities. The Craneware Group - Transforming the Business of Healthcare.
Learn more at www.thecranewaregroup.com
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