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Grant of Options & Long Term Incentive Plan Awards

5 September 2018 – The Board of Craneware plc (AIM: CRW.L), the market leader in Value Cycle solutions for the US healthcare market, announces that on 5 September 2018, share options (the “Options”) to acquire ordinary shares of 1p each in the Company (“Shares”) were granted to two of the Company’s Directors as set out below. The Options were granted pursuant to the terms of the Craneware plc Unapproved Share Option Plan (2016) (the “Option Plan”).

Director

Aggregate no. of Shares over which Options granted under the Option Plan

Percentage of issued share capital

Keith Neilson (CEO)

5,848

0.02%

Craig Preston (CFO)

4,334

0.02%

The above Options have been granted at an exercise price of 2710p per Share (being the closing market price on 4 September 2018). The Options will ordinarily become exercisable from the third anniversary of grant, subject to (i) the satisfaction of certain performance conditions based on the Company’s total shareholder return (“TSR”) performance relative to the performance achieved by the constituent companies within the FTSE AIM 100 Index and (ii) the Director’s continued employment. These performance conditions are measured in three tranches such that one third of the Shares over which the Options subsist will vest based on performance over the three years ending on 30 June 2019, one third based on performance over the three years ending 30 June 2020 and the final third based on performance over the three years to 30 June 2021 – an aggregate five year period. Any tranche (or part thereof) that does not meet the performance criteria will lapse and not be re-tested in later years.

The Company further announces that on 5 September 2018, under the terms of the Craneware plc Long Term Incentive Plan (2016) (“LTIP”), a conditional award of Shares was granted to two Directors of the Company as follows:  

Director

No. of Shares over which a conditional share award was granted

Percentage of issued share capital

Keith Neilson (CEO)

5,848

0.02%

Craig Preston (CFO)

4,334

0.02%

There was no consideration for the grant of the LTIP awards and no consideration will be payable by the award holders to receive the Shares from these LTIP awards, if and to the extent that they vest.  The awards will ordinarily vest after three years subject to (i) the satisfaction of TSR performance conditions that are substantively the same as those described above in relation to the Options and (ii) the Director’s continued employment.

PDMR notification: Keith Neilson

  1. Details of the Restricted Person / person closely associated with him or her
  2. a) Name                                                            Keith Neilson

 

  1. Reason for the notification
  2. a) Position / status                                             CEO
  3. b) Initial notification / Amendment                        Initial notification
  4. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
  5. a) Name                                                            Craneware plc
  6. b) LEI                                                                213800O2CTJ1YFXNXG05
  7. 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
  8. a) Description of the financial instrument, type of

instrument                                                         Ordinary shares of 1p each in the capital of Craneware plc

  1. b) Identification code                                           ISIN GB00B2425G68
  2. c) Nature of the transaction                                 Grant of share options under the Craneware plc Unapproved Share Option Plan (2016)
  3. d) Price(s) and volume(s)                                    Volume(s) granted 5,848, Price(s) £0
  4. e) Aggregated information:
  5. Aggregated volume                  Aggregate volume granted 5,848
  6. Price                                     Price(s) £0
  7. f) Date of the transaction                        2018-09-05
  8. g) Place of the transaction                                  Outside a trading venue
  9. 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
  10. a) Description of the financial instrument, type of

instrument                                                         Ordinary shares of 1p each in the capital of Craneware plc

  1. b) Identification code                                           ISIN GB00B2425G68
  2. c) Nature of the transaction                                 Grant of conditional share award under the Craneware plc

                                                                                    Long Term Incentive Plan (2016)

  1. d) Price(s) and volume(s)                                    Volume(s) granted 5,848, Price(s) £0
  2. e) Aggregated information:
  3. Aggregated volume                  Aggregate volume granted 5,848
  4. Price                                     Price(s) £0

 

  1. f) Date of the transaction                        2018-09-05
  2. g) Place of the transaction                                  Outside a trading venue

PDMR notification: Craig Preston

  1. Details of the Restricted Person / person closely associated with him or her
  2. a) Name                                                            Craig Preston
  3. Reason for the notification
  4. a) Position / status                                             CFO
  5. b) Initial notification / Amendment                        Initial notification
  6. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
  7. a) Name                                                            Craneware plc
  8. b) LEI                                                                213800O2CTJ1YFXNXG05
  9. 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
  10. a) Description of the financial instrument, type of

instrument                                                         Ordinary shares of 1p each in the capital of Craneware plc

  1. b) Identification code                                           ISIN GB00B2425G68
  2. c) Nature of the transaction                                 Grant of share options under the Craneware plc Unapproved Share Option Plan (2016)
  3. d) Price(s) and volume(s)                                    Volume(s) granted 4,334, Price(s) £0
  4. e) Aggregated information:
  5. Aggregated volume                  Aggregate volume granted 4,334
  6. Price                                     Price(s) £0
  7. f) Date of the transaction                        2018-09-05
  8. g) Place of the transaction                                  Outside a trading venue
  9. 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
  10. a) Description of the financial instrument, type of

instrument                                                         Ordinary shares of 1p each in the capital of Craneware plc

  1. b) Identification code                                           ISIN GB00B2425G68
  2. c) Nature of the transaction                                 Grant of conditional share award under the Craneware plc

                                                                                    Long Term Incentive Plan (2016)

  1. d) Price(s) and volume(s)                                    Volume(s) granted 4,334, Price(s) £0
  2. e) Aggregated information:
  3. Aggregated volume          Aggregate volume granted 4,334
  4. Price                                     Price(s) £0
  5. f) Date of the transaction                        2018-09-05
  6. g) Place of the transaction                                  Outside a trading venue

For further information, please contact:

Craneware plc

Peel Hunt (NOMAD & Joint Broker)               

Investec Bank (Joint Broker)

Alma (Financial PR)

+44 (0)131 550 3100

+44 (0)20 7418 8900

+44 (0)20 7597 5970

+44 (0)208 004 4217

Keith Neilson, CEO

Dan Webster

Patrick Robb

Caroline Forde

Craig Preston, CFO

George Sellar

Sebastian Lawrence

Henry Reast

Robyn Fisher

Josh Royston

About Craneware

Craneware enables healthcare providers to improve margins and enhance patient outcomes so they can continue to provide quality outcomes for all.

Craneware is the leader in automated Value Cycle solutions that help US Healthcare provider organisations discover, convert and optimise assets to achieve best clinical outcomes and financial performance. Founded in 1999, Craneware is headquartered in Edinburgh, Scotland with offices in Atlanta and Pittsburgh employing over 320 staff. Craneware’s market-driven, SaaS solutions normalise disparate data sets, bringing in up-to-date regulatory and financial compliance data to deliver value at the points where clinical and operational data transform into financial transactions, creating actionable insights that enable informed tactical and strategic decisions. To learn more, visit craneware.com and thevaluecycle.com.