EMPLOYEE SHARE AWARDS AND PDMR DEALINGS-1SPATIAL PLC

EMPLOYEE SHARE AWARDS AND PDMR DEALINGS-1SPATIAL PLC

Employee Share Awards and PDMR Dealings

1Spatial, (AIM: SPA), a global leader in Location Master Data Management (LMDM) software and solutions, announces that it has today granted LTIP awards (consisting of either a contingent right or a nil-cost option to acquire Ordinary Shares for no consideration) over 555,000 ordinary shares of 10p each in the Company ("Ordinary Shares") (the "LTIP Awards").  In addition, the Company has granted 120,000 options to certain senior employees.

 

The LTIP Awards have been granted to certain senior employees and include an initial award to Stuart Ritchie, the Company's Chief Financial Officer:

 

Director

No. of LTIP Awards

Stuart Ritchie (Chief Financial Officer)

300,000

 

The LTIP Awards will vest subject to the achievement of an agreed set of performance targets established by the Remuneration committee as at the date of the award:

 

·    25 per cent of the shares vest subject to the achievement of a revenue target for the year ending 31 January 2027 ("2027 Revenue").

 

·    25 per cent of the shares vest subject to the achievement of an EBITDA target for the year ending 31 January 2027 ("2027 EBITDA"). 

 

·    50 per cent of the shares vest subject to the achievement of a share price target which will be calculated against the average closing mid-price for the 20 trading days following the Company's Annual General Meeting in 2027 ("2027 Share Price").

 

Following vesting, the LTIP Awards will be subject to an additional one-year holding period (before the award can be exercised or the shares otherwise be released).

 

In the event of a takeover of the Company completing, either by way of a contractual takeover offer becoming wholly unconditional or a scheme of arrangement becoming effective, the LTIP Awards would vest in full, provided that the award holder continues to be an employee at that time.

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