28 March 2024
Idox plc
('Idox' or the 'Group' or the 'Company')
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRS")
Idox plc (AIM: IDOX), a leading supplier of specialist information management software and Geospatial data solutions to the public and asset intensive sectors, announces that, on 28 March 2024 the following PDMRs (the "Grantees") received conditional awards over the number of Ordinary Shares each in the Company ("Ordinary Shares") shown below (the "Awards"), in accordance with the rules of the Long Term Incentive Plan 2023 ("2023 LTIP").
Standard Award
| Name of Director/PDMR | Number of Shares Awarded | Type of Award |
| David Meaden | 566,251 | Conditional |
| Anoop Kang | 440,058 | Conditional |
| Jonathan Legdon | 444,912 | Conditional |
| Ruth Paterson | 242,682 | Conditional |
The vesting and holding period of each Award is subject to the rules of the 2023 LTIP and the Grantee agreeing to be bound by the terms of their Award.
The Awards will normally vest on the third anniversary of the grant date. No consideration is payable by grantees on either the grant or vesting of the Awards.
Three independent performance conditions will be used:
o Absolute TSR (50% weighting)
o Adjusted EPS (25% weighting)
o Revenue (25% weighting)
The performance condition applying to half of the Awards (the "TSR Part") will measure the Company's absolute total shareholder return ("TSR") performance over a three-year period. The measurement period for the Awards shall comprise three consecutive financial years of the Company, starting with the 2024 financial year. No portion of the TSR Part will vest unless the Company's TSR performance achieves a 5% CAGR over the measurement period at which point 18.75% of the TSR Part will vest, rising to 10% at which point 75% of the TSR Part will vest and thereafter on a straight-line basis to 100% vesting for the Company's TSR performance achieving a 12% CAGR over the measurement period.
The performance condition applying to a separate quarter of the Awards (the "EPS Part") will measure the Company's adjusted earnings per share performance over a three-year measurement period starting with the 2024 financial year. No portion of the EPS Part will vest unless the Company's adjusted EPS for the 2026 financial year is 2.95p at which point 18.75% of the EPS Part will vest, rising to 3.12p at which point 75% of the EPS Part will vest and thereafter on a straight-line basis to 100% vesting for the Company's EPS for the 2026 financial year being 3.21p.
The performance condition applying to a separate quarter of the Awards (the "Revenue Part") will measure the company's revenue performance over a three-year measurement period starting with the 2024 financial year. No portion of the Revenue Part will vest unless the Company's revenue for the 2026 financial year is £95.28m, at which point 18.75% of the Revenue part will vest, rising to £100.78m at which point 75% of the Revenue Part will vest and thereafter on a straight-line basis to 100% vesting for the Company's revenue for the 2026 financial year being £103.6m.
The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.
For further information please contact:
| Idox plc | +44 (0) 870 333 7101 |
| Chris Stone, Non-Executive Chairman | investorrelations@idoxgroup.com |
| David Meaden, Chief Executive |
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| Anoop Kang, Chief Financial Officer |
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| |
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| Peel Hunt LLP (NOMAD and Broker) | +44 (0) 20 7418 8900 |
| Paul Gillam |
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| Adam Telling |
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| | |
| MHP | + 44 (0) 20 3128 8100 |
| Reg Hoare | |
| Ollie Hoare | |
| Matthew Taylor | |
About Idox plc
For more information see www.idoxplc.com @Idoxgroup
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | David Meaden | ||||
| 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 | Idox plc | ||||
| b. | LEI | 213800Z3FE6PWVSUGE70 | ||||
| 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 | |||||
| b. | Nature of the transaction | Conditional Award of Ordinary Shares
| ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price |
| ||||
| e. | Date of the transaction | 28 March 2024 | ||||
| f. | Place of the transaction | Outside a trading venue
| ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | Anoop Kang | ||||
| 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 | Idox plc | ||||
| b. | LEI | 213800Z3FE6PWVSUGE70 | ||||
| 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 | |||||
| b. | Nature of the transaction | Conditional Award of Ordinary Shares
| ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price |
| ||||
| e. | Date of the transaction | 28 March 2024 | ||||
| f. | Place of the transaction | Outside a trading venue
| ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | Jonathan Ledgon | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | Chief Operating Officer | ||||
| b. | Initial notification /Amendment | Initial Notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a. | Name | Idox plc | ||||
| b. | LEI | 213800Z3FE6PWVSUGE70 | ||||
| 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 | |||||
| b. | Nature of the transaction | Conditional Award of Ordinary Shares
| ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price |
| ||||
| e. | Date of the transaction | 28 March 2024 | ||||
| f. | Place of the transaction | Outside a trading venue
| ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | Ruth Paterson | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | Chief Legal & Corporate Officer | ||||
| b. | Initial notification /Amendment | Initial Notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a. | Name | Idox plc | ||||
| b. | LEI | 213800Z3FE6PWVSUGE70 | ||||
| 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 | |||||
| b. | Nature of the transaction | Conditional Award of Ordinary Shares
| ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price |
| ||||
| e. | Date of the transaction | 28 March 2024 | ||||
| f. | Place of the transaction | Outside a trading venue
| ||||
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