The information contained within this announcement is deemed
by the Company to constitute inside information as stipulated under
the UK version of the EU Market Abuse Regulation (2014/596) which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended and supplemented from time to
time.
19 September 2024
Journeo plc
("Journeo" or the "Company")
Establishment of Long-Term
Incentive Plan
Grant of
Awards
&
PDMR
Dealings
Journeo plc (AIM: JNEO), a leading
provider of intelligent transport solutions to operators and
authorities across the UK and Scandinavia, announces the
establishment of a new long-term incentive plan (the "LTIP") and the granting of awards
pursuant to the LTIP.
The Board recognises the importance
of equity incentive schemes as a means to incentivise the Company's
executive board members, wider senior management team and
employees, ensuring alignment with the objectives of the Group and
its shareholders. Awards made under the LTIP are in the form of
nominal cost share options subject to the achievement of certain
performance criteria ("LTIP
Awards"), or market value options subject to performance
criteria pursuant to a company share option ("CSOP Options and Market Value
Options").
LTIP Awards
The Company announces that it has
granted LTIP Awards over 115,000 new Ordinary Shares pursuant to
the LTIP as follows:
|
Director/PDMR
|
Position
|
Exercise
Price
|
LTIP Awards granted (over
equivalent number of new Ordinary Shares)
|
Performance
criteria
|
|
Russ Singleton
|
CEO
|
6.5p per share
|
70,000
|
Company's share price to exceed an
average of £6.00 over a 90-day period before 19 September
2027
|
|
Nick Lowe
|
CFO
|
6.5p per share
|
45,000
|
Company's share price to exceed an
average of £6.00 over a 90-day period before 19 September
2027
|
The LTIP Awards have an exercise
price of 6.5p per share, being the nominal value of Ordinary Shares
and vest immediately upon the achievement of the performance
criteria detailed above.
Awards - CSOP Options and Market Value
Options
The Company also announces the grant
of CSOP Options and Market Value Options over a maximum of 195,000
new Ordinary Shares to certain other employees. The CSOP Options
and Market Value Options are exerciseable at a price of 301p per
share from 1 January 2027, subject to the achievement of a profit
before tax threshold for FY2024.
Following the grant of these awards,
the Company has a total of 1,092,083 Ordinary Shares under option
or subject to award, representing approximately 7 per cent. of its
issued share capital.
Related party transaction
The grant of the LTIP Awards
constitutes a related party transaction for the purposes of AIM
Rule 13. The independent directors (excluding Russ Singleton and
Nick Lowe) consider, having consulted with the Company's nominated
adviser, that the terms of the transaction are fair and reasonable
insofar as its shareholders are concerned.
For further information please
contact:
|
Journeo plc
Russ Singleton, Chief Executive Officer
Nick Lowe, Chief Financial
Officer
|
+44 (0) 203 651
9166
|
|
|
|
|
Cavendish Capital Markets
Limited
Nominated Adviser and
Broker
Katy
Birkin / Callum Davidson
|
+44 (0)
207 220 0500
|
|
|
|
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
|
Russ Singleton
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
CEO
|
|
b)
|
Initial
notification/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Journeo plc
|
|
b)
|
LEI
|
213800TKF7L4IEV9W867
|
|
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
|
LTIP Awards over new ordinary shares
of 6.5 pence each
|
|
|
Identification code
|
GB00BKP51V79
|
|
b)
|
Nature of the transaction
|
Grant of LTIP Awards
|
|
c)
|
Price(s) and volumes(s)
|
Price(s)
|
Volume(s)
|
|
Exercise
price of 6.5p per share
|
70,000
|
|
d)
|
Aggregated information
|
|
|
|
Aggregated volume
|
N/A single transaction
|
|
|
Price
|
N/A single transaction
|
|
e)
|
Date of the transaction
|
18 September 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Nick Lowe
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
CFO
|
|
b)
|
Initial
notification/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Journeo plc
|
|
b)
|
LEI
|
213800TKF7L4IEV9W867
|
|
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
|
LTIP Awards over new ordinary shares
of 6.5 pence each
|
|
|
Identification code
|
GB00BKP51V79
|
|
b)
|
Nature of the transaction
|
Grant of LTIP Awards
|
|
c)
|
Price(s) and volumes(s)
|
Price(s)
|
Volume(s)
|
|
Exercise
price of 6.5p per share
|
45,000
|
|
d)
|
Aggregated information
|
|
|
|
Aggregated volume
|
N/A single transaction
|
|
|
Price
|
N/A single transaction
|
|
e)
|
Date of the transaction
|
18 September 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|