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Grant of Options & Long Term Incentive Plan Awards

Craneware plc
(“Craneware” or the “Company”)
Grant of Options & Long Term Incentive Plan Awards

17 January 2018 – The Board of Craneware plc (AIM: CRW.L), the market leader in Value Cycle solutions for the US healthcare market, announces that on 17 January 2018, share options (the “Options”) to acquire ordinary shares of 1p each in the capital of 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 Schedule 4 Company Share Option Plan (2016) and the Craneware plc Unapproved Share Option Plan (2016) (together, the “Option Plans”).

Director Aggregate no. of Shares over which Options granted under the Option Plans Percentage of issued share capital
Keith Neilson (CEO) 8,928 0.03%
Craig Preston (CFO) 6,618 0.02%

The above Options have been granted at an exercise price of 1,775p per Share (being the closing market price on 16 January 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 a group of comparable companies in the same sector 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 2018, one third based on performance over the three years ending 30 June 2019 and the final third based on performance over the three years to 30 June 2020 – 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 17 January 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 Aggregate no. of Shares over which Options granted under the Option Plans Percentage of issued share capital
Keith Neilson (CEO) 8,928 0.03%
Craig Preston (CFO) 6,618 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 
a)    Name Keith Neilson
2.     Reason for the notification
a)    Position/status CEO
b)    Initial notification / Amendment Initial notification
3.     Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)    Name Craneware plc
b)    LEI 213800O2CTJ1YFXNXG05
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, type of instrument Ordinary shares of 1p each in the capital of Craneware plc
b)    Identification code ISIN GB00B2425G68
c)     Nature of the transaction Grant of share options under the Craneware plc Schedule 4 Company Share Option Plan (2016) / the Craneware plc Unapproved Share Option Plan (2016)
d)    Price(s) and volume(s) Volume(s) granted 8,928 Price(s) £0
e)    Aggregated information:
i.  Aggregated volume Aggregate volume 8,928
ii. Price Price(s) £0
f)     Date of the transaction 2018-01-17
g)    Place of the transaction Outside a trading venue
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, type of instrument Ordinary shares of 1p each in the capital of Craneware plc
b)    Identification code ISIN GB00B2425G68
c)     Nature of the transaction Grant of conditional share award under the Craneware plc
Long Term Incentive Plan (2016)
d)    Price(s) and volume(s)  Volume(s) granted 8,928 Price(s) £0
e)    Aggregated information:
i.  Aggregated volume Aggregate volume granted 8,928
ii. Price Price(s) £0
f)     Date of the transaction 2018-01-17
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 
a)    Name Craig Preston
2.     Reason for the notification
a)    Position/status CFO
b)    Initial notification / Amendment Initial notification
3.     Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)    Name Craneware plc
b)    LEI 213800O2CTJ1YFXNXG05
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, type of instrument Ordinary shares of 1p each in the capital of Craneware plc
b)    Identification code ISIN GB00B2425G68
c)     Nature of the transaction Grant of share options under the Craneware plc Unapproved Share Option Plan (2016)
d)    Price(s) and volume(s) Volume(s) granted 6,618 Price(s) £0
e)    Aggregated information:
i.  Aggregated volume Aggregate volume 6,618
ii. Price Price(s) £0
f)     Date of the transaction 2018-01-17
g)    Place of the transaction Outside a trading venue
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, type of instrument Ordinary shares of 1p each in the capital of Craneware plc
b)    Identification code ISIN GB00B2425G68
c)     Nature of the transaction Grant of conditional share award under the Craneware plc
Long Term Incentive Plan (2016)
d)    Price(s) and volume(s)  Volume(s) granted 6,618 Price(s) £0
e)    Aggregated information:
i.  Aggregated volume Aggregate volume granted 6,618
ii. Price Price(s) £0
f)     Date of the transaction 2018-01-17
g)    Place of the transaction Outside a trading venue

For further information, please contact:

Craneware plc

Peel Hunt

  • +44 (0)20 7418 8900
  • Dan Webster
  • Nicole McDougall
  • George Sellar

Alma

  • +44 (0)208 004 4218
  • Caroline Forde
  • Hilary Buchanan
  • Robyn Fisher

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 provider organisations discover, convert and optimise assets to achieve best clinical outcomes and financial performance. Founded in 1999, Craneware has headquarters in Edinburgh, Scotland with offices in Atlanta, Boston and Phoenix employing over 200 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.