Xaar plc
Grant of Options and Deferred Bonus Share Awards
Grant of Options
Xaar plc (the "Company") announces that on 6 April 2022 the persons discharging managerial responsibilities of the Company were granted the following nil priced share options over ordinary shares of 10 pence each in the Company ("Ordinary Shares") under the terms of the Xaar 2017 Long Term Incentive Plan ("LTIP"):
| Name | No. of options* granted over Ordinary Shares | Total no. of options** held post grant |
| | | |
| John Mills | 207,932 | 1,087,225 |
| Ian Tichias | 92,414 | 477,784 |
| Graham Tweedale | 59,299 | 240,007 |
* Options granted on 6 April 2022 under the LTIP scheme.
** Options granted under all schemes, including the deferred bonus shares detailed below.
This grant was approved by the Remuneration Committee on 6 April 2022.
No consideration was paid for the grant of any of the options, or is due on the exercise of options granted under the LTIP scheme. These options carry the performance criteria of EPS and TSR (60%/40% weighting respectively) which must be achieved during a 3 year vesting period. Actual performance targets are considered commercially sensitive and will be disclosed retrospectively.
The options vest on the dealing day following the announcement by the Company of its annual results for 2024 or, if later, the date on which the Remuneration Committee determines whether the performance condition and any other condition has been satisfied (in whole or in part), and for the Executive Directors these are exercisable 2 years after this date (for the other persons discharging managerial responsibilities, these are exercisable on vesting). The options will expire on the tenth anniversary of the date of grant.
Deferred Bonus Share Awards
The Company announces that on 6 April 2022 the Executive Directors of the Company were granted the following nil-cost share options over ordinary shares of 10 pence each in the Company ("Ordinary Shares") under the terms of the Xaar 2020 Deferred Bonus Plan (the "Plan"):
| Name | No. of deferred bonus share awards granted over Ordinary Shares |
| | |
| John Mills | 11,944 |
| Ian Tichias | 6,689 |
This grant was approved by the Remuneration Committee on 6 April 2022.
The nil-cost options reflect the deferred portion of the bonuses earned for the year ended 31 December 2021, subject to continued employment, and will, ordinarily, vest on the dealing day following the announcement by the Company of its annual results for 2023.
The FCA notification, made in accordance with the requirements of the UK Market Abuse Regulation is appended below and gives further details on the transactions described above.
This notification is made in accordance with DTR 3.1.4 R(1).
Enquiries:
| Xaar plc | +44 (0)1223 423 663 |
| Camila Cottage, Company Secretary |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | 1. John Mills 2. Ian Tichias 3. Graham Tweedale | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | 1. Chief Executive Officer 2. Chief Financial Officer 3. Chief Operations Officer | |||
| b) | Initial notification /Amendment | Initial Notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Xaar plc | |||
| b) | LEI | 213800MXEC3KAOBBPO57 | |||
| 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 10 pence each | |||
| | | ||||
| Identification code | GB0001570810 | ||||
| | | ||||
| b) | Nature of the transaction | Grant of Options under the Xaar plc 2017 Long Term Incentive Plan | |||
| c) | Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | 1. £nil | 1. 207,932 | | |
| | | 2. £nil | 2. 92,414 | | |
| | | 3. £nil | 3. 59,299 | | |
| | | | | | |
| d) | Aggregated information | | |||
| | | ||||
| - Aggregated volume | 1. 207,932 2. 92,414 3. 59,299 | ||||
| | | ||||
| - Price | 1. £nil 2. £nil 3. £nil | ||||
| | | ||||
| e) | Date of the transaction | 1. 6 April 2022 2. 6 April 2022 3. 6 April 2022 | |||
| f) | Place of the transaction | Outside a trading venue | |||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | 1. John Mills 2. Ian Tichias | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | 1. Chief Executive Officer 2. 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 | Xaar plc | |||
| b) | LEI | 213800MXEC3KAOBBPO57 | |||
| 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 10 pence each | |||
| | | ||||
| Identification code | GB0001570810 | ||||
| | | ||||
| b) | Nature of the transaction | Grant of options under the Xaar 2020 Deferred Bonus Plan | |||
| c) | Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | 1. £nil | 1. 11,944 | | |
| | | 2. £nil | 2. 6,689 | | |
| | | | | | |
| d) | Aggregated information | | |||
| | | ||||
| - Aggregated volume | 1. 11,944 2. 6,689 | ||||
| | | ||||
| - Price | 1. £nil 2. £nil | ||||
| | | ||||
| e) | Date of the transaction | 1. 6 April 2022 2. 6 April 2022
| |||
| f) | Place of the transaction | Outside a trading venue | |||
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