Share Options

RNS Number : 3548N

Angle PLC

31 August 2011

 



For immediate release

31 August 2011

ANGLE plc ("the Company")

Share Options

Reflecting the current developments within the business and the need to ensure ongoing incentivisation of the management team, the Remuneration Committee has cancelled certain existing share options over ordinary shares in the Company issued to staff and directors and issued new share options at the current market price. 

Following the cancellation of 940,422 existing share options and the issue of 1,856,000 new share options, the Company now has outstanding options issued to staff and directors over a total of 2,055,397 ordinary shares being 5.8% of the shares currently in issue.

The exercise price for the new share options is set at the current mid market price of 25.75 pence per share.  Vesting of the share options will be subject to a performance condition that the share price together with any dividend payments has risen by at least 50% from the current market price.  The share options will vest over a three year period and expire ten years after issue. 

Following the new issue of share options, the total number of share options held by the directors and senior management of the Company are:

Options (% issued)	Before issue	After issue	Increase
Andrew Newland, Chief Executive	648,675 (1.8%)	950,000 (2.7%)	301,325 (0.8%)
Ian Griffiths, Finance Director	247,619 (0.7%)	500,000 (1.4%)	252,381 (0.7%)
Shane Booth, Parsortix CEO	33,810 (0.1%)	250,000 (0.7%)	216,190 (0.6%)

The non-executive directors do not hold share options.

ANGLE Chairman, Garth Selvey, commented:

"The new options are part of a revitalised remuneration scheme which takes account of changes within the Company and replace four sets of options awarded between 2005 and 2007.  The new options also take into account salary waived by senior members of the Company."

For further information:

ANGLE plc	01483 685830
Garth Selvey, Chairman Andrew Newland, Chief Executive Ian Griffiths, Finance Director
Collins Stewart Europe Limited Matt Goode	0207 523 8350
Buchanan Lisa Baderoon, Catherine Breen	020 7466 5000
Scott Harris Stephen Scott, James O'Shaughnessy, Harry Dee	0207 653 0030

 

END

 

 

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