Source - LSE Regulatory
RNS Number : 2433U
Nanoco Group PLC
01 December 2021
 

1 December 2021

NANOCO GROUP PLC

("Nanoco", the "Group" or the "Company")

 

NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY

As set out in the Company's 2021 Annual Report, the Board was seeking shareholder approval for a resolution at the AGM on 30 November 2021 to amend the remuneration policy and the Nanoco Group 2015 Long Term Incentive Plan (the "LTIP") to issue nil-cost options over ordinary shares of 10 pence each in the Company to executive directors with a value up to 150% of salary. The previous policy was a maximum of 100% of salary (with up to 250% of salary in exceptional circumstances).

The relevant resolutions were approved by shareholders at the AGM on 30 November 2021 with 99.0% and 98.9% of votes cast in favour respectively. Subject to and following this approval, Nanoco has now granted to the Executive Directors nil options to the value of 50% of salary, in addition to those issued on 9 November 2021, as noted below:

Name of Director / PDMR

Number of options granted

Brian Tenner (CEO - Director)

592,417

Nigel Pickett (CTO - Director)

463,744

Liam Gray (CFO - Director)

266,588

Total number of options granted

1,322,749

The number of options awarded has been calculated in accordance with the scheme rules by reference to the average closing mid-market share price for the three days after the announcement of the Group's results for the year ending 31 July 2021. This was 21.1 pence.

The vesting of the LTIP options is subject to the achievement of performance conditions based upon the growth in the Company's share price over the three year performance period ending 31 July 2024. The equivalent compound annual growth rate ('CAGR') is shown for information purposes and is based on the average of the closing mid-market price of the Company's shares for the three days after the Group's annual results for the year ending 31 July 2021 (announced on 3 November 2021).

Range

Share price (equivalent CAGR (%))

Proportion of award that will vest

Below threshold

Less than 35 pence (<28.8%)

Nil

Threshold

35 pence (28.8%)

25%

Target

45 pence (46.0%)

60%

Maximum

55 pence (61.4%)

100%

Ordinarily, the LTIP options will vest (subject to the achievement of the performance conditions) following the announcement of Nanoco's results for its financial year ending 31 July 2024. The options are then subject to an additional two year holding period. This notification is made pursuant to Disclosure and Transparency Rule 3.1.4.

For further information please contact:

Liam Gray
Company Secretary
Telephone : +44 (0) 161 603 7900

 

Notes for editors:

 

About Nanoco Group plc

Nanoco (LSE: NANO) harnesses the power of nano-materials. Nano-materials are materials with dimensions typically in the range 1 - 100 nm. Nano-materials have a range of useful properties, including optical and electronic. Quantum dots are a subclass of nano-material that have size-dependent optical and electronic properties. The Group produces quantum dots. Within the sphere of quantum dots, the Group exploits different characteristics of the quantum dots to target different performance criteria that are attractive to specific markets or end-user applications such as the Display and Electronics markets. One of the interesting properties of quantum dots is photoluminescence: the emission of longer wavelength light upon excitation by light of a shorter wavelength. The colour of light emitted depends on the particle size. Nanoco's CFQD® quantum dots are free of cadmium and other toxic heavy metals and can be tuned to emit light at different wavelengths across the visible and infrared spectrum, rendering them useful for a wide range of applications including displays, lighting and biological imaging.

Nanoco was founded in 2001 and is headquartered in Manchester, UK, with a US subsidiary, Nanoco Inc., in Concord, MA. Nanoco continues to build out a world-class, patent-protected IP portfolio generated both by its own innovation engine, as well as through acquisition.

Nanoco is listed on the Main Market of the London Stock Exchange and trades under the ticker symbol NANO. For further information please visit: www.nanocotechnologies.com.

Notification of Dealing Form

1.

Details of the Person Discharging Managerial Responsibilities ("PDMR") / person closely associated with them ("PCA")

a)

Name

BRIAN TENNER

2.

Reason for the notification

a)

Position /status

CHIEF EXECUTIVE OFFICER

b)

Initial notification / amendment

INITIAL NOTIFICATION

3.

Details of the Issuer

a)

Name

NANOCO GROUP PLC

b)

LEI code

213800HOSJEZO1KOCV33

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)

Type of instrument
Identification code

ORDINARY SHARES OF 1O PENCE EACH

ISIN: GB00B01JLR99

b)

Nature of the transaction

GRANT OF AN OPTION OVER ORDINARY SHARES UNDER THE NANOCO 2015 LONG TERM INCENTIVE PLAN

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil cost

592,417

d)

Aggregated information:
- Aggregated volume
- Price

N/A

e)

Date of the transaction

1 DECEMBER 2021

f)

Place of the transaction

OUTSIDE A TRADING VENUE

Notification of Dealing Form

1.

Details of the Person Discharging Managerial Responsibilities ("PDMR") / person closely associated with them ("PCA")

a)

Name

DR NIGEL PICKETT

2.

Reason for the notification

a)

Position /status

CHIEF TECHNICAL OFFICER

b)

Initial notification / amendment

INITIAL NOTIFICATION

3.

Details of the Issuer

a)

Name

NANOCO GROUP PLC

b)

LEI code

213800HOSJEZO1KOCV33

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)

Type of instrument
Identification code

ORDINARY SHARES OF 1O PENCE EACH

ISIN: GB00B01JLR99

b)

Nature of the transaction

GRANT OF AN OPTION OVER ORDINARY SHARES UNDER THE NANOCO 2015 LONG TERM INCENTIVE PLAN

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil cost

463,744

d)

Aggregated information:
- Aggregated volume
- Price

N/A

e)

Date of the transaction

1 DECEMBER 2021

f)

Place of the transaction

OUTSIDE A TRADING VENUE

Notification of Dealing Form

1.

Details of the Person Discharging Managerial Responsibilities ("PDMR") / person closely associated with them ("PCA")

a)

Name

LIAM GRAY

2.

Reason for the notification

a)

Position /status

CHIEF FINANCIAL OFFICER

b)

Initial notification / amendment

INITIAL NOTIFICATION

3.

Details of the Issuer

a)

Name

NANOCO GROUP PLC

b)

LEI code

213800HOSJEZO1KOCV33

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)

Type of instrument
Identification code

ORDINARY SHARES OF 1O PENCE EACH

ISIN: GB00B01JLR99

b)

Nature of the transaction

GRANT OF AN OPTION OVER ORDINARY SHARES UNDER THE NANOCO 2015 LONG TERM INCENTIVE PLAN

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil cost

266,588

d)

Aggregated information:
- Aggregated volume
- Price

N/A

e)

Date of the transaction

1 DECEMBER 2021

f)

Place of the transaction

OUTSIDE A TRADING VENUE

 

= END =

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