TIDMKBT

RNS Number : 0101M

K3 Business Technology Group PLC

18 May 2022

18 May 2022

AIM: KBT

K3 Business Technology Group plc

("K3", "Company" or "Group")

K3 LTIP Option Scheme

K3, which provides business -- critical software solutions focused on fashion and apparel brands, announces that its Remuneration Committee ("RemCo") has today granted 587,500 new options to certain Persons Discharging Managerial Responsibilities ("PDMRs") ("Share Options"). These grants have been made under the terms of the K3 Long Term Incentive Plan 2020 adopted on 12 November 2020 (the "LTIP") and together amount to approximately 1.31% of the Company's current non-diluted issued share capital.

The Share Options awarded to each PDMR are split between Market Price Options and LTIP Nominal Price Options (further details of which are set out below) as follows:

 
 Name                Position                      Number of       Number of 
                                                Market Price    LTIP Nominal 
                                             Options awarded   Price Options 
                                                                     awarded 
                                           ----------------- 
 Marco Vergani       Chief Executive                 135,000             n/a 
                      Officer 
                  -----------------------  ----------------- 
 Robert Price        Chief Financial                  85,000             n/a 
                      Officer 
                  -----------------------  ----------------- 
 Sjoerd Starren      MD, Global Accounts              70,000             n/a 
                  -----------------------  ----------------- 
 Andrew Payne        Chief Technology                 70,000             n/a 
                      Officer 
                  -----------------------  ----------------- 
 Julia Mueller       Chief Customer                   70,000             n/a 
                      Officer 
                  -----------------------  ----------------- 
                     Chief Delivery 
 Peter Bradley        Officer                         70,000          87,500 
                  -----------------------  ----------------- 
 Totals                                              500,000          87,500 
                                           ----------------- 
 

The LTIP Nominal Price Options are issued on substantially the same terms and at the same exercise price (25p per share, being nominal value) as those issued to other PDMRs of the Company on 12 November 2020 and 30 March 2021 and have been issued to align new starters with the existing senior leadership team as regards their option arrangements.

The Market Price Options have an exercise price of 150p. Vesting of the Market Price Options is based on the achievement of certain prescribed levels of annual recurring revenue growth in respect of the Group's strategic product suites (K3|imagine, K3|fashion, K3|pebblestone and K3|ViJi) ("Strategic Products") measured as at 30 November 2024.

In addition, and to ensure consistency between the Group's strategic aims and its incentives, the Remuneration Committee has amended the performance condition for the 240,000 existing market price options issued by the Company to broaden the performance metric to cover all of the Group's Strategic Products, and to adjust the testing date to 30 November 2023, from 30 November 2024 (to align with the Group's current remuneration policy for market priced options, having a three year test period). Amended options held by PDMRs of the Company are as follows:

 
 Name                Position                      Number of 
                                             Existing Market 
                                               Price Options 
                     Chief Financial 
 Robert Price         Officer                         40,000 
                  -----------------------  ----------------- 
 Sjoerd Starren      MD, Global Accounts              40,000 
                  -----------------------  ----------------- 
                     Chief Technology 
 Andrew Payne         Officer                         40,000 
                  -----------------------  ----------------- 
                     Chief Customer 
 Julia Mueller        Officer                         40,000 
                  -----------------------  ----------------- 
 

Further details in respect of the above are provided below, in accordance with the EU Market Abuse Regulation (No 596/2014).

For further information contact:

 
                                                    +44 (0) 161 876 
 K3 Business Technology Group plc                    4498 
 Marco Vergani, CEO 
 Rob Price, CFO 
 
                                                    +44 (0) 207 220 
 finnCap Ltd                                         0500 
 Nominated Adviser and Broker 
 Julian Blunt/James Thompson (Corporate finance) 
 Richard Chambers (Corporate Broking) 
 
                                                    +44 (0) 20 3178 
 KTZ Communications                                  6378 
 Katie Tzouliadis/Dan Mahoney 
 
 
1.  Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated 
     with them ('PCA') 
a)  Name                                     Marco Vergani 
2.  Reason for notification 
b)  Position / status                        Chief Executive Officer 
c)  Initial notification / amendment         Initial Notification 
3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer 
     or auction monitor 
b)  Name                                     K3 Business Technology Group plc 
c)  LEI                                      213800QOJ9OF2AV81748 
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  Options over ordinary shares of 25p each exercisable at 150p per share 
     Identification code                      GB00B00P6061 
b)  Nature of the transaction                Award of Options under the K3 LTIP 
c)  Price(s) and volume(s)                    135,000 Options awarded 
d)  Aggregated information                   n/a 
     Aggregated volume Price 
e)  Date of the transaction                  18 May 2022 
f)  Place of the transaction                 Outside a trading venue 
 
 
1.  Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated 
     with them ('PCA') 
a)  Name                                     Robert Price 
2.  Reason for notification 
b)  Position / status                        Chief Financial Officer 
c)  Initial notification / amendment         Initial Notification 
3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer 
     or auction monitor 
b)  Name                                     K3 Business Technology Group plc 
c)  LEI                                      213800QOJ9OF2AV81748 
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  Options over ordinary shares of 25p each exercisable at 150p per share 
     Identification code                      GB00B00P6061 
b)  Nature of the transaction                Award of Options under the K3 LTIP and adjustment of existing option 
                                             performance condition 
c)  Price(s) and volume(s)                    85,000 Options awarded 
                                               Performance condition adjustment in respect of 40,000 existing options 
d)  Aggregated information                   n/a 
     Aggregated volume Price 
e)  Date of the transaction                  18 May 2022 
f)  Place of the transaction                 Outside a trading venue 
 
 
1.  Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated 
     with them ('PCA') 
a)  Name                                     Sjoerd Starren 
2.  Reason for notification 
b)  Position / status                        MD - Global Accounts 
c)  Initial notification / amendment         Initial Notification 
3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer 
     or auction monitor 
b)  Name                                     K3 Business Technology Group plc 
c)  LEI                                      213800QOJ9OF2AV81748 
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  Options over ordinary shares of 25p each exercisable at 150p per share 
     Identification code                      GB00B00P6061 
b)  Nature of the transaction                Award of Options under the K3 LTIP and adjustment of existing option 
                                             performance condition 
c)  Price(s) and volume(s)                   70,000 Options awarded 
                                              Performance condition adjustment in respect of 40,000 existing options 
d)  Aggregated information                   n/a 
     Aggregated volume Price 
e)  Date of the transaction                  18 May 2022 
f)  Place of the transaction                 Outside a trading venue 
 
 
1.  Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated 
     with them ('PCA') 
a)  Name                                     Andrew Payne 
2.  Reason for notification 
b)  Position / status                        Chief Technology Officer 
c)  Initial notification / amendment         Initial Notification 
3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer 
     or auction monitor 
b)  Name                                     K3 Business Technology Group plc 
c)  LEI                                      213800QOJ9OF2AV81748 
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  Options over ordinary shares of 25p each exercisable at 150p per share 
     Identification code                      GB00B00P6061 
b)  Nature of the transaction                Award of Options under the K3 LTIP and adjustment of existing option 
                                             performance condition 
c)  Price(s) and volume(s)                    70,000 Options awarded 
                                               Performance condition adjustment in respect of 40,000 existing options 
d)  Aggregated information                   n/a 
     Aggregated volume Price 
e)  Date of the transaction                  18 May 2022 
f)  Place of the transaction                 Outside a trading venue 
 
 
1.  Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated 
     with them ('PCA') 
a)  Name                                     Julia Mueller 
2.  Reason for notification 
b)  Position / status                        Chief Customer Officer 
c)  Initial notification / amendment         Initial Notification 
3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer 
     or auction monitor 
b)  Name                                     K3 Business Technology Group plc 
c)  LEI                                      213800QOJ9OF2AV81748 
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  Options over ordinary shares of 25p each exercisable at 150p per share 
     Identification code                      GB00B00P6061 
b)  Nature of the transaction                Award of Options under the K3 LTIP and adjustment of existing option 
                                             performance condition 
c)  Price(s) and volume(s)                    70,000 Options awarded 
                                               Performance condition adjustment in respect of 40,000 existing options 
d)  Aggregated information                   n/a 
     Aggregated volume Price 
e)  Date of the transaction                  18 May 2022 
f)  Place of the transaction                 Outside a trading venue 
 
 
1.  Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated 
     with them ('PCA') 
a)  Name                                     Peter Bradley 
2.  Reason for notification 
b)  Position / status                        Chief Delivery Officer 
c)  Initial notification / amendment         Initial Notification 
3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer 
     or auction monitor 
b)  Name                                     K3 Business Technology Group plc 
c)  LEI                                      213800QOJ9OF2AV81748 
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  Options over ordinary shares of 25p each exercisable at 150p per share 
     Identification code                     and at nominal cost 
                                             GB00B00P6061 
b)  Nature of the transaction                Award of Options under the K3 LTIP 
c)  Price(s) and volume(s)                   70,000 market price share options 
                                              87,500 nominal cost share options 
d)  Aggregated information                   Options over 157,500 ordinary shares 
     Aggregated volume Price 
e)  Date of the transaction                  18 May 2022 
f)  Place of the transaction                 Outside a trading venue 
 

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May 18, 2022 12:27 ET (16:27 GMT)

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