RNS: Directorate / PDMR Shareholding

Friday, 08 March 2019

Award of Options under Share Plan

Synectics plc (AIM: SNX), a leader in the design, integration, control and management of advanced surveillance technology and networked security systems, announces that on 7 March 2019 it made awards over 65,000 Synectics plc ordinary shares of 20p (the "Shares") to certain Persons Discharging Managerial Responsibility ("PDMRs"), under its Performance Share Plan ("PSP"), as detailed below:

Name Position Status PSP award (number of Shares)
Paul Webb Chief Executive Executive Director 25,000
Simon Beswick Finance Director Executive Director 20,000
David Lowe Business Strategy Director PDMR 20,000

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 36,322 276,923 313,245 1.76%
Simon Beswick - 20,000 20,000 0.11%
David Lowe 10,000 20,000 30,000 0.17%

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 2017.

For further information, please contact:

Synectics plc
Claire Stewart, Company Secretary
Tel: +44(0) 114 255 2509

Stockdale Securities Limited
Tom Griffiths / Henry Willcocks
Tel: +44 (0) 207 601 6100


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