TIDMNET

RNS Number : 8865M

Netcall PLC

16 January 2023

16 January 2023

NETCALL PLC

("Netcall", the "Company" or the "Group")

Extension of Long Term Incentive Plan for Senior Management

Netcall plc (AIM: NET), a leading customer engagement software provider, announces that it has extended the term of its current long term incentive plan ("LTIP") for certain directors of the Company ("Directors").

As announced on 30 April 2014 and 19 November 2020, the Company awarded an LTIP to the Directors under the Company's 2013 Long Term Incentive Plan ("2013 LTIP"). Share options under the 2013 LTIP were granted at an exercise price of 5 pence. The vesting of options under the 2013 LTIP are conditional on achievement of certain share price hurdles based on the average share price over 40 business days up to a maximum share price of GBP1.20. The options have a vesting measurement date to 30 April 2023 and expire on 29 April 2024.

The following summarises the current position of the 2013 LTIP options:

 
                         2013 LTIP   2013 LTIP 
                      options held     options           2013 LTIP 
                                        vested    options unvested 
 Henrik Bang             3,319,388     538,919           2,780,469 
                    ==============  ==========  ================== 
 Michael Jackson           672,220     315,652             356,568 
                    ==============  ==========  ================== 
 James Ormondroyd        1,944,213     275,010           1,669,203 
                    ==============  ==========  ================== 
 Total                   5,935,821   1,129,581           4,806,240 
                    ==============  ==========  ==================

The Directors' have no other share options other than the 2013 LTIP options as summarised above. Accordingly, given the April 2023 measurement date for the 2013 LTIP the remuneration committee have been considering ongoing incentive arrangements for the Directors. Given Michael Jackson's interest in the 2013 LTIP options, Mr Jackson has recused himself from the remuneration committee's consideration on incentive arrangements in relation to himself.

The non-executive directors, namely Mike Neville and Tamer Ozmen, believe that a short extension of the measurement date of the 2013 LTIP, rather than the introduction of a new LTIP, is appropriate for the Company. Accordingly, the remuneration committee believe that this provides appropriate targets to ensure that the Directors continue to be incentivised to drive shareholder returns.

The Company has agreed to extend the vesting measurement date by one year to 29 April 2024 to align with the expiry date of the 2013 LTIP options to 29 April 2024. All other provisions under the above 2013 LTIP options remain unchanged.

For further enquiries, please contact:

 
 Netcall plc                                    Tel. +44 (0) 330 
                                                        333 6100 
 Henrik Bang, CEO 
 Michael Jackson, Chairman 
 James Ormondroyd, Group Finance Director 
 
 
 Canaccord Genuity Limited (Nominated       Tel. +44 (0) 20 7523 
  Adviser and Broker)                                       8000 
 Simon Bridges / Andrew Potts 
 
 
 
 Alma PR                                    Tel. +44 (0) 20 3405 
                                                            0205 
 Caroline Forde / Hilary Buchanan / 
  Matthew Young

About Netcall

Netcall's Liberty software platform with Intelligent Automation and Customer Engagement solutions helps organisations digitally transform their businesses faster and more efficiently, empowering them to create a leaner, more customer-centric organisation.

Netcall's customers span enterprise, healthcare and government sectors. These include two-thirds of the NHS Acute Health Trusts and leading corporates including Legal and General, Lloyds Banking Group, Aon and Santander Bank.

For further information, please go to www.netcall.com .

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END

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(END) Dow Jones Newswires

January 16, 2023 12:00 ET (17:00 GMT)

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