Norkom, the software company that plans to list next month, has issued options over 6.6 million shares to staff.

Paul Kerley, the chief executive of the company - which specialises in compliance software for the banking industry - has options over €2.5 million shares at an exercise price of 16 cents, while company secretary Colm Crossan has options over 45,000 shares at the same price.

The beneficiaries of the remaining share options are not disclosed in the pathfinder prospectus for the company which was circulated this week.

The options can only be exercised if various sliding performance targets are reached. No options will be triggered unless the company achieves a 15 per cent annual increase in shareholder return and a similar annual increase in Ebitda (earnings before interest, tax and amortisation).

Ebitda last year was €3.34 million, up 64 per cent on the previous year.

The pathfinder says that Norkom will grow and develop its business by further penetrating existing markets and cross-selling to existing clients while looking at opportunities to establish a presence in new markets.

It will also seek to establish alliances with other companies, expand out of financial services and look to make acquisitions.

The planned listing of the company on the IEX market in Dublin and the AIM market in London will provide funds for the expansion plan.

Norkom plans to raise €30 million in the flotation and its management, including Mr Kerley, plan to sell some of their holding in the company.

Mr Kerley owns 6.3 million shares, representing 10.13 per cent of the company. The largest shareholder in the group is Trinity Venture Capital which holds a 36.94 per cent stake.

Mr Kerley is on a basic salary of €224,744, with benefits of €36,747, according to the prospectus. Chief operating officer Cecil Hayes earns €190,000 with benefits worth €19,175.