Grant of Share Options

RNS Number : 7882F

Fairpoint Group PLC

14 October 2008

 



14 October 2008

Fairpoint Group plc 

Directors Dealings

Fairpoint Group plc ('Fairpoint' or 'the Group') announces that on 13 October 2008 Andrew Heath, Finance Director of the Group, was granted 150,000 options over ordinary shares of 1p each in the capital of the Group under Fairpoint's Unapproved Share Option Scheme. The options granted to Mr Heath are exercisable between 1 July 2011 and 1 July 2018. The exercise price for these options is 50p per share. Vesting is subject to the following performance criteria: 75,000 options become exercisable if audited annual EBITDA exceeds £10m for any financial year up to and including 2011 and the additional 75,000 are exercisable if audited annual EBITDA exceeds £15m for any financial year up to and including 2011. Following this grant of options Mr Heath has a total of 150,000 options over ordinary shares of 1p each in the capital of the Group under Fairpoint's Unapproved Share Option Scheme. 

Enquiries:
Fairpoint Group plc
Chris Moat, Chief Executive Officer	0845 296	0100
Andy Heath, Finance Director	0845 296	0200
Financial Dynamics
Ed Gascoigne-Pees	020 7269	7132
Nick Henderson	020 7269	7114
Numis Securities
Corporate Broking:  Chris Wilkinson	020 7260	1000
Nominated Adviser: Lee Aston	020 7260	1000

 

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