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Directorate/PDMR Shareholding

Thursday, 02 March 2017

Synectics (AIM: SNX), a leader in the design, integration, control and management of advanced surveillance technology and networked security systems, announces that on 1 March 2017 it made awards over 88,500 Synectics plc ordinary shares of 20p (the “Shares") to certain senior managers employed within the Group, under its Performance Share Plan (“PSP”).

Under the PSP award, awards were made to the following Directors and Persons Discharging Managerial Responsibility (PDMRs):

Name Position Status PSP award (number of Shares)
Paul Webb Chief Executive, Synectics plc Executive Director 15,000
Mike Stilwell Finance Director, Synectics plc Executive Director 7,500
David Aindow Product & Technology Director, Synectic Systems Group Limited PDMR 5,000
Greg Alcorn Divisional Director, Transport & Infrastructure, Synectic Systems Group Limited PDMR 10,000
Darren Alder Divisional Director, Oil & Gas, Synectic Systems Group Limited PDMR 5,000
Iain Beadle Managing Director, Quadrant Security Group Limited PDMR 5,000
Richard Brierley Company Secretary, Synectics plc PDMR 2,000
Jeffrey Fail Managing Director, Synectics Mobile Systems PDMR 4,000
Andrew Wycherley Operations Director, Synectic Systems Group Limited PDMR 2,000

Following the awards, their total interests in Shares are now as follows:

Name

 Shares held

Interest in Shares in Synectics share schemes

Resultant total interest

% of issued share capital

Paul Webb

10,000

299,924

309,924

1.74%

Mike Stilwell

6,910

50,224

57,134

0.32%

David Aindow

-

53,000

53,000

0.30%

Greg Alcorn

-

10,000

10,000

0.06%

Darren Alder

-

22,500

22,500

0.13%

Iain Beadle

-

52,500

52,500

0.30%

Richard Brierley

-

6,000

6,000

0.03%

Jeffrey Fail

-

44,000

44,000

0.25%

Andrew Wycherley

-

7,000

7,000

0.04%

Under the PSP, selected employees are entitled to exercise an option to receive a certain number of Shares at any time after a 3 year vesting period, at no cost to themselves. The number of Shares that are awarded at the end of the 3 year period is dependent on the achievement of certain performance criteria.

Vesting of the PSP awards is dependent on the total return on Shares compared with the AIM All Share Total Return Index (the “Index”). If the total return on Shares out-performs the Index by 5% or more in the 3 years following the award, all of the Shares awarded will vest.  If Shares match the Index performance, then 25% of the awarded Shares will vest. Between these points the number of Shares that vest will be pro-rata. If the total return on Shares underperforms the Index, then no Shares will vest. The limit on the number of Shares over which interests may be awarded remains unchanged.

Any entitlement under the PSP will lapse on cessation of employment prior to the end of the 3 year vesting period, unless cessation of employment is by reason of redundancy, ill health or death.

Should the performance criteria be met in full or part, it is intended that the appropriate number of Shares will be satisfied from unallocated Shares already held within the Company’s employee benefit trust.

Full details of the PSP were set out in the Company's Annual Report for the year ended 30 November 2015. 


For further information, please contact:

Synectics plc
Richard Brierley, Company Secretary
Tel: +44 (0) 1527 850 080
www.synecticsplc.com
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Stockdale Securities Limited
Tom Griffiths / Henry Willcocks
Tel: +44 (0) 207 601 6100