Director/PDMR Shareholding

RNS Number : 2805C

Fairpoint Group PLC

27 April 2012

 



27^th April 2012

Fairpoint Group plc ("Fairpoint" or "the Company")

Director/PDMR shareholding 

The Company announces that under the Fairpoint Group plc 2008 Unapproved Share Option plan ("the plan") options over 300,000 new ordinary shares ("Options") of 1p in the Company have today been awarded to John Gittins, Finance Director.

The Options have a strike price of 50p per share and will vest on 27^th April 2015 subject to performance conditions and continued employment within the Group.  The Options will expire on 27^th April 2022.  The performance conditions applicable to the Options require that the Fairpoint share price must equal or exceed 70p for a continuous period of 30 days at any time during the period to 27^th April 2015 for 150,000 Options to vest and the share price must equal or exceed 100p during the period to 27^th April 2015 for the remaining 150,000 Options to vest. 

As a result, Mr Gittins' interest in the Company comprises 300,000 Options.

Enquiries

Fairpoint Group plc

Chris Moat, Chief Executive Officer                        0844 826 1209

John Gittins, Finance Director                                    0844 826 1209

Shore Capital (Nomad and Broker)

Pascal Keane                                                                     020 7408 4090

Edward Mansfield                                                           020 7408 4090

FTI

Paul Marriott                                                                     020 7269 7114

Laura Pope                                                                         020 7269 7243

 

END

 

 

RDSEDLFLLZFLBBF