FireAngel Safety Technology Group plc 

(‘FireAngel’, the ‘Group’ or the ‘Company’)

Award of Options under Share Plan

PDMR shareholdings

 

FireAngel (AIM: FA.), one of Europe’s leading developers and suppliers of home safety products, announces that on 8 July 2021 it made awards of options (“Options”) over a total of 7,470,891 FireAngel Safety Technology Group plc ordinary shares of 2p each (the ‘Shares’) to certain directors and senior managers employed within the Group, under its Long-Term Incentive Plan (‘LTIP’).

 

Under the LTIP, awards were made to the following Persons Discharging Managerial Responsibility (‘PDMRs’):

 

Name

Position

Status

LTIP Options award (over Shares)

Directors

John Conoley

Executive Chairman

Director and PDMR

1,821,272

Zoe Fox

Chief Finance Officer

Director and PDMR

1,311,316

Senior Managers

Nick Rutter

Chief Product Officer

PDMR

450,000

Rene Nolten

Business Unit Director

PDMR

450,000

Claire Pickard

Supply Chain Director

PDMR

450,000

Steve Boggis

Business Unit Director

PDMR

450,000

 

Under the LTIP, selected employees are entitled to exercise an Option to receive a certain number of Shares at any time after a three-year vesting period (“Vesting Period”), at a cost to the employee of the nominal value of the Shares.

 

Vesting of the LTIP Options is dependent on performance targets, based on total shareholder return (‘TSR’) and Earnings per share (‘EPS’). The award is split evenly across the 2 performance conditions with 50 per cent. of the total award for each performance condition.

 

The maximum number of Options that vest and become exercisable into Shares at the end of the Vesting Period is calculated as follows for each performance condition:

 

Total Shareholder Return (TSR)

% of Options that vest under the TSR performance condition (50% of total award)

Less than 100% growth

Nil

100% growth

25%

Between 100% growth and 200% growth

Between 25% and 100% on a straight-line basis

200% growth or more

100%

 

 

Earnings Per Share (EPS)

% of Options that vest under the EPS performance condition (50% of total award)

Less than 2.2 pence

Nil

Between 2.2 pence and 3.2 pence

Between 0% and 25% on a straight-line basis

Between 3.2 pence and 4.2 pence

Between 25% and 100% on a straight-line basis

4.2 pence or more

100%

 

Following the Vesting Period, the Options are exercisable for 10 years, after which, any un-exercised Option will lapse.

 

Any entitlement under the LTIP will lapse on cessation of employment prior to the end of the three-year vesting period, unless cessation of employment is by reason of redundancy, ill health or death.

 

In addition to these awards, both John Conoley and Nick Rutter have irrevocably and unconditionally surrendered and cancelled 1,500,000 and 250,000 Options respectively in the capital of the Company under the FireAngel Safety Technology Group 2015 Long Term Incentive Plan, previously awarded on 2 August 2019.

 

Following the awards and surrenders, the total interests of each of the PDMRs referred to above in Shares is as follows:

 

Name

Ordinary shares held

% of ordinary shares held

Interest in shares in share schemes

Directors

John Conoley (including wife’s holding)

739,463

0.41%

7,177,446

Zoe Fox

52,417

0.03%

1,443,260

Senior Managers

Nick Rutter

4,102,107

2.27%

877,107

Rene Nolten

575,000

Claire Pickard (including husband’s holding)

241,711

0.13%

653,000

Steve Boggis

450,000

 

 

For further information, please contact:

FireAngel Safety Technology Group plc

024 7771 7700

John Conoley, Executive Chairman

Zoe Fox, Chief Finance Officer

 

Shore Capital (Nominated adviser and Joint broker)

 

 

020 7408 4050

Tom Griffiths/David Coaten

 

Singer Capital Markets (Joint Broker)
Rick Thompson/Alex Bond

 

Houston (Financial PR)
Kate Hoare/Laura Stewart

 

 

020 7496 3000

 

 

020  4529 0549

 

 

Notes to Editors

 

About FireAngel Safety Technology Group plc

FireAngel’s mission is to protect, save and improve our customers’ lives by making innovative, leading edge technology simple and accessible.  FireAngel is one of the market leaders in the European home safety products market.

 FireAngel’s principal products are connected smoke alarms, CO alarms, heat alarms and accessories.  The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories.  Products are sold under FireAngel’s leading brands of FireAngel, FireAngel Pro, FireAngel Specification and AngelEye.

 

For further product information, please visit: www.fireangeltech.com