FTC Filtronic Plc

TIDMFTC

RNS Number : 4596V

Filtronic PLC

01 December 2023

1 December 2023

Filtronic plc

("Company")

Grant of Options

Filtronic plc (AIM: FTC), the designer and manufacturer of products for the aerospace, defence, telecoms infrastructure, space and critical communications markets , announces that on 30 November 2023, the Board, following the recommendation from the Remuneration Committee, granted new share options ("the Options") to the following director under the existing Filtronic plc Employee Share Option Plan 2020 ("the ESOP").

The vesting of these options is based on achieving certain performance criteria in the three years prior to vesting. The performance criteria under the ESOP are based on share price growth and adjusted earnings before interest, taxation, depreciation, amortisation and exceptional items ("adjusted EBITDA"), in the three-year vesting period. The exercise price for the Options is 17.25 pence per share being the Company's closing mid-market share price on 29 November 2023. The Options lapse on the tenth anniversary of the date of grant and no option can be exercised before the third anniversary of the date of grant.

 
 Director/PDMR       Options prior   Options granted   Resultant ESOP 
                      to Grant                          holdings 
 Michael Tyerman 
  Chief Financial 
  Officer            779,988         1,370,012         2,150,000 
                    --------------  ----------------  --------------- 
 

The Remuneration Committee keeps the ESOP scheme under regular review with the timing of grant award varying dependent on previous issue of share options to directors and employees.

Enquiries:

 
 Filtronic plc                      Tel. 01740 618800 or investor.relations@filtronic.com 
 Richard Gibbs (Chief Executive 
  Officer) 
 Michael Tyerman (Chief Financial 
  Officer) 
 
 Cavendish Capital Markets          Tel. 020 7220 0500 
  Limited 
 Jonny Franklin-Adams/George Dollemore (Corporate Finance) 
 Sunila de Silva (ECM) 
 
 Walbrook PR Limited                Tel. 020 7933 8780 or filtronic@walbrookpr.com 
 Paul Vann                          Mob. 07768 807 631 
 

Further details of the PDMR dealing are included below. This information has been provided in accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

 
 1.   Details of the person discharging managerial 
       responsibilities / person closely associated 
 a)   Name                             Michael Tyerman 
     -------------------------------  ---------------------------------- 
 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                             Filtronic plc 
     -------------------------------  ---------------------------------- 
 b)   LEI                              213800PDQ9V2ZNCDO264 
     -------------------------------  ---------------------------------- 
 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,             Ordinary shares of 0.1p each 
       type of instrument 
      Identification code              GB0003362992 
     -------------------------------  ---------------------------------- 
 b)   Nature of the transaction        Grant of 1,370,012 options under 
                                        the Filtronic plc Employee Share 
                                        Option Plan 2020 
     -------------------------------  ---------------------------------- 
 c)   Price(s) and volume(s)            Price(s)       Volume(s) 
                                         17.25 pence    1,370,012 
                                                       ---------- 
     -------------------------------  ---------------------------------- 
 d)   Aggregated information: 
        *    Aggregated volume           n/a (single transaction) 
 
 
        *    Price 
     -------------------------------  ---------------------------------- 
 e)   Date of the transaction          30 November 2023 
     -------------------------------  ---------------------------------- 
 f)   Place of the transaction         London Stock Exchange, AIM Market 
     -------------------------------  ---------------------------------- 
 

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END

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