13th January 2022
Ideagen PLC
("Ideagen", "the Company" or the "Group'')
Director/PDMR Shareholding
Grant of awards under the Ideagen Long Term Incentive Plan
Ideagen PLC (AIM: IDEA), a leader in compliance software for regulated industries, is pleased to announce the terms of a new long term incentive plan for its key executive and leadership charged with delivering on the Group's strategic objectives for the three years to 30 April 2025 (the "2022 LTIP").
Following the publication of new targets at the Company's Capital Markets Day on 30 Nov and a comprehensive review of the Group's existing employee incentivisation and retention framework, the 2022 LTIP has been established to succeed and to replace the 2021 LTIP (as described in the Group's announcement of 21 May 2021). It has been the Board's experience that previous incentive plans have been important in attracting, motivating and retaining the high quality executive and senior management teams leading the Company and of the Group's success to date. For that reason, the principles underpinning the 2022 LTIP are fundamentally consistent with the 2021 LTIP in that the performance criteria are challenging and closely aligned to the Company's business strategy, aimed at delivering shareholder value.
Awards under the 2022 LTIP will be made across the Group's executive directors, executive leadership team and leadership team in the form of nominal cost options over new ordinary shares that will normally become exercisable on 13 January 2025 ("Options"). Accordingly, today, a total of 6,350,000 options were granted pursuant to the 2022 LTIP including to the following directors and persons discharging managerial responsibilities:
| Director/ PDMR | Position | No. of Shares available under award |
| Ben Dorks | Chief Executive Officer | 2,200,000 |
| Emma Hayes | Chief Financial Officer | 1,450,000 |
| James King | Chief Revenue Officer | 900,000 |
| Louise Tommasi | Chief People Officer | 900,000 |
| David Moore | Chief Product Officer | 900,000 |
Awards may become exercisable subject to continued employment and the achievement of an absolute Total Shareholder Return performance condition measured over a three-year performance period, as follows:
· 0% of awards will vest for compound TSR of 10% p.a., increasing pro-rata to
· 33.3% of awards vesting for compound TSR of 15% p.a., increasing pro-rata to
· 66.6% of awards vesting for compound TSR of 20% p.a., increasing pro-rata to
· 100% of awards vesting for compound TSR of 25% p.a. or above.
The above awards are additionally subject to a two-year holding period following the vesting date. Further information regarding the Options and the Group's remuneration framework will be set out in the Group's annual report for the year ending 30 April 2022.
Entitlements pursuant to the 2021 LTIP have accordingly been cancelled. The Group, subsequent to the above, has 8,437,087 options in issue, representing 2.8% of the Group's fully diluted issued share capital.
Enquiries:
| Ideagen plc | 01629 699 100 | |
| Richard Longdon, Non-Executive Chairman | | |
| Ben Dorks, Chief Executive Officer | | |
| Emma Hayes, Chief Financial Officer
| | |
| finnCap Limited | 020 7220 0500 | |
| Henrik Persson / James Thompson (Nomad) | | |
| Alice Lane (ECM) | | |
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| Canaccord Genuity Limited | 020 7523 8000 | |
| Simon Bridges | | |
| Georgina McCooke
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| Numis Securities Limited Simon Willis Joshua Hughes
| 020 7260 1267 | |
| | | |
| FTI Consulting | 020 3727 1000 | |
| Jamie Ricketts | ||
| Dwight Burden Valerija Cymbal | | |
About Ideagen plc
Ideagen's software helps companies comply with regulation and manage risk.
Ideagen is a leader in the +$30 billion regulatory and compliance software market, serving highly regulated industries such as life sciences, healthcare, banking and finance and insurance. Ideagen has made twenty-three acquisitions to build its market leadership.
More than 6,000 organisations use Ideagen's software, including nine of the top 10 UK accounting firms, all of the top aerospace and defence companies and 75% of leading pharmaceutical firms.
Ideagen has a diversified customer base including blue chip, global brands such as Heineken, British Airways, BAE, Aggreko, US Navy, Bank of New York, and Johnson Matthey, as well as 250 hospitals across the UK and US.
Ideagen is headquartered in the UK, listed on the London Stock Exchange AIM market (Ticker: IDEA.L), and has key hubs in the UK, EU, US, Middle East, and South East Asia. For further information please visit www.ideagen.com.
The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018).
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Ben Dorks | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Chief Executive Officer | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Ideagen plc | ||||
| b) | LEI | 213800KS1MLITOVNYC85 | ||||
| 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 | Issue of options over Ordinary Shares of 1p each | ||||
| Identification code | GB00B0CM0C50 | |||||
| b) | Nature of the transaction | Grant of options | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information: · Aggregated volume · Price | N/A | ||||
| e) | Date of the transaction | 13 January 2022 | ||||
| f) | Place of the transaction |
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| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Emma Hayes | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Chief Financial Officer | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Ideagen plc | ||||
| b) | LEI | 213800KS1MLITOVNYC85 | ||||
| 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 | Issue of options over Ordinary Shares of 1p each | ||||
| Identification code | GB00B0CM0C50 | |||||
| b) | Nature of the transaction | Grant of options | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information: · Aggregated volume · Price | N/A | ||||
| e) | Date of the transaction | 13 January 2022 | ||||
| f) | Place of the transaction |
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| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | James King | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Chief Revenue Officer and PDMR | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Ideagen plc | ||||
| b) | LEI | 213800KS1MLITOVNYC85 | ||||
| 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 | Issue of options over Ordinary Shares of 1p each | ||||
| Identification code | GB00B0CM0C50 | |||||
| b) | Nature of the transaction | Grant of options | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information: · Aggregated volume · Price | N/A | ||||
| e) | Date of the transaction | 13 January 2022 | ||||
| f) | Place of the transaction |
| ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Louise Tommasi | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Chief People Officer and PDMR | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Ideagen plc | ||||
| b) | LEI | 213800KS1MLITOVNYC85 | ||||
| 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 | Issue of options over Ordinary Shares of 1p each | ||||
| Identification code | GB00B0CM0C50 | |||||
| b) | Nature of the transaction | Grant of options | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information: · Aggregated volume · Price | N/A | ||||
| e) | Date of the transaction | 13 January 2022 | ||||
| f) | Place of the transaction |
| ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | David Moore | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Chief Product Officer and PDMR | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Ideagen plc | ||||
| b) | LEI | 213800KS1MLITOVNYC85 | ||||
| 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 | Issue of options over Ordinary Shares of 1p each | ||||
| Identification code | GB00B0CM0C50 | |||||
| b) | Nature of the transaction | Grant of options | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information: · Aggregated volume · Price | N/A | ||||
| e) | Date of the transaction | 13 January 2022 | ||||
| f) | Place of the transaction |
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