Synectics plc (AIM: SNX), a leader in advanced security and surveillance systems, announces that it has made an award of options ("Options") over, in aggregate, 140,000 ordinary shares of 20p each in the Company ("Ordinary Shares") under its existing Performance Share Plan ("PSP"),  to certain Directors and Persons Discharging Managerial Responsibility ("PDMRs"), under its existing Performance Share Plan ("PSP"), as detailed below:

Name Position Status Number of Options
Paul Webb Chief Executive Officer Executive Director 60,000
Amanda Larnder Chief Financial Officer Executive Director 40,000
David Aindow Business Strategy Director PDMR 20,000
David Gavin Divisional Director PDMR 20,000

Following these purchases, the above Directors’ and PDMRs’ interests in the Ordinary Shares are as follows:

Name Number of Ordinary Shares Held Interest in Ordinary Shares in Share Schemes Resultant Total Interest % of Issued Share Capital
Paul Webb 57,115 515,079 632,194 3.55
Amanda Larnder 4,326 164,000 168,326 0.95
David Aindow 2,000 80,000 82,000 0.46
David Gavin 0 80,782 80,782 0.45

Under the PSP, selected employees are entitled to exercise an option to receive a certain number of Ordinary Shares at any time after a three-year vesting period, exercisable at nil cost. The number of Ordinary Shares that are awarded at the end of the three-year period is dependent on the achievement of certain performance criteria and must be exercised within ten years of the date of award.

Vesting of the PSP award is measured according to the average of the Compound Annual Growth Rate (“CAGR”) of the Total Shareholder Return Index and the CAGR of Adjusted Underlying Diluted Earnings Per Share. If this average is 20% or more, 100% of the award will vest. If this average is above 10% and below 20%, between 0% and 100% of the award will vest on a straight-line basis. If the average is 10% or less, 0% of the award will vest.

Any entitlement under the PSP 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.

Should the performance criteria be met in full or in part for the Options, it is intended that the appropriate number of Options will be satisfied firstly from any unallocated Ordinary Shares already held within the Company's employee benefit trust with the balance to be satisfied from a new issue of Ordinary Shares.

Full details of the PSP were set out in the Company's Annual Report for the year ended 30 November 2023.

For further information, please contact:

Synectics plc
Paul Webb, Chief Executive Officer
Amanda Larnder, Chief Financial Officer
Claire Stewart, Company Secretary
Tel: +44 (0) 114 280 2828

Shore Capital
Tom Griffiths / David Coaten
Tel: +44 (0) 20 7408 4090

Vigo Consulting
Jeremy Garcia / Fiona Hetherington / Aisling Fitzgerald
Tel: +44 (0) 20 7390 0230