Two grants of options in 2019 and 2020
Xaar plc has announced the belated disclosure of two option grants made in 2019 and 2020 to a Person Discharging Managerial Responsibility. The first grant on 30 April 2019 involved 20,000 ordinary shares at nil cost under the 2017 Long Term Incentive Plan, and the second grant on 29 April 2020 involved 75,000 ordinary shares, also at nil cost. While these grants were not announced at the time, they were consistently included in all subsequent public disclosures regarding the number of shares under option.
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Xaar plc, (the "Company"), a leading inkjet printing technology group, makes the following announcement.
It has come to the Company's attention that two historic option grants, made to a Person Discharging Managerial Responsibility ("PDMR"), one in 2019 and one in 2020, were not the subject of an announcement to the market at the time.
Notwithstanding the failure to disclose these two option grants noted above, all public disclosures by the Company since the dates of these grants, whether in the Company's financial statements or otherwise, included these option grants when referring to the number of ordinary shares of 10 pence each in the Company under option.
The two FCA notifications, made in accordance with the requirements of the UK Market Abuse Regulation, are appended below and give further details on the transactions described above.
| a. | Names | Xaar plc |
| b. | LEI | 213800MXEC3KAOBBPO57 |
| a. | Description of the Financial instrument, type of instrument Identification code | Ordinary shares of 10 pence each 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) £nil 20,000 |
| d. | Aggregated information · Aggregated volume · Price | 20,000 £nil |
| f. | Place of the transaction | Outside a trading venue |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a. | Name | Graham Tweedale |
| 2. | Reason for the notification | |
| a. | Position/status | Chief Operating Officer - PDMR |
| b. | Initial notification /Amendment | Initial Notification |
| a. | Names | Xaar plc |
| b. | LEI | 213800MXEC3KAOBBPO57 |
| a. | Description of the Financial instrument, type of instrument Identification code | Ordinary shares of 10 pence each 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) £nil 75,000 |
| d. | Aggregated information · Aggregated volume · Price | 75,000nil |
| f. | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.