Grant of Options

RNS Number : 7775X

Impellam Group plc

02 September 2015

 

Impellam Group Plc ("Impellam" or the "Company")

Grant of options

Impellam announces that, in recognition of each of their roles in implementing the Company's strategic plans to date and to continue to incentivise them appropriately, it has today granted nil cost share options to its Chief Executive Officer and Chief Financial Officer under a new Impellam Share Option Plan.  Options under this Share Option Plan   have been granted as follows:

	Julia Robertson, Chief Executive Officer	Darren Mee, Chief Financial Officer
Number of Impellam ordinary shares of 1p each under option	850,000	450,000
Exercise conditions (Note 1)	1/3 of the options will become exercisable at 800 pence The remaining 2/3 will become exercisable on a straight line basis between 800 pence and 1,100 pence.	All options will become exercisable on a straight line basis between 850 pence and 1,200 pence.
Earliest time options can be exercised	The date on which the board determines the exercise condition has been met (Note 1)	12 months after the board determine that the exercise condition has been met (Note 1)
Exercise time period	Any time within 18 months after the options first become exercisable.	Any time within 6 months after the options first become exercisable.
Lock-In Period	12 months from the date of exercise in respect of the Net  shares (Note 2)	12 months from the date of exercise in respect of the Net  shares (Note 2)

Notes

1.   The share prices for the exercise conditions will be calculated as the average of the mid-market price for the 60 days following the publication of the preliminary announcement of the audited financial results for the year ending 31 December 2017. 

2.   The Net shares are the net number of shares remaining after a sale of shares to meet any tax liabilities arising on the exercise of the options.

3.   The Rules of the Share Option Plan provide board discretion in the administration of the Share Option Plan in line with provisions normal for such schemes. These provisions include the power to waive the exercise conditions, in whole or in part, upon a change of control of the Company and in the event of certain other corporate transactions.

4.   Neither director holds any outstanding options in Impellam shares under any previous option schemes.  Ms Robertson holds 153,910 ordinary shares of 1 pence in the Company and Mr Mee's wife holds 20,000 ordinary shares of 1 pence in the Company.

Enquiries:  For further information please contact the appropriate individual below:

Impellam Group Plc

Julia Robertson, Chief Executive Officer                                                  Tel: [phone]

Darren Mee, Chief Financial Officer                                                           Tel: [phone]

Cenkos Securities plc (Nominated Advisor and Broker to Impellam Group Plc)                                    

Nicholas Wells                                                                                                     Tel: [phone]                           

 

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