Share Incentive Plan

RNS Number : 1866C

Intercede Group PLC

13 March 2014

 

Intercede Group plc

("Intercede" or the "Company")

Share Incentive Plan

Further to the announcement dated 13 January 2014, the Company confirms that it has established a HMRC approved SIP for all UK employees. The Board has agreed to make awards to all UK employees on the following basis:

1)   Free Shares up to a value of £3,000 to be issued at the prevailing middle market price at the close of business the day before an award;

2)   Partnership Shares to be subscribed for by employees either on a monthly or lump sum basis to a cumulative value of up to £1,800 to be purchased on market at the prevailing market price; and

3)   Matching Shares which are to be given to employees on the basis of two Matching shares for each Partnership Share.

It is intended that Free Share and Matching Share awards will be met by the transfer of ordinary shares of 1p each ("Ordinary shares") currently held in Treasury and from continued on market purchases either by the Company or Capita IRG Trustees Limited as Trustee of the SIP. To the extent that Ordinary Shares are not available in Treasury or in the volume required through the market, it is the Company's intention to issue new Ordinary Shares to meet these awards.

As part of the SIP, Richard Parris (Chairman & CEO), Andrew Walker (Finance Director) and Jayne Murphy (Operations Director) will receive an initial Free Share award to the value of £3,000 on 26 March 2014. In addition, all three parties have made binding commitments to subscribe for £1,800 of Partnership Shares from the April 2014 payroll at the prevailing market price on that date. Their updated interests in the shares of the Company will be notified immediately following these transactions.

ENQUIRIES

Intercede Group plc	Tel.      [phone]
Andrew Walker, Finance Director
FinnCap	Tel.      + 44 (0)20 7220 0500
Stuart Andrews, Corporate Finance
Joanna Weaving, Corporate Broking

About Intercede

Intercede is a software company specialising in identity and credential management with a global team of experts located in the US and UK.

Intercede's MyID software enables organisations to create and use trusted digital identities for employees, citizens and machines. This allows secure access to services, facilities, information and networks.

MyID meets the highest government standards yet is simple enough to be deployed onto consumer devices such as smart phones and tablets. Critically, MyID provides an easy, convenient and secure alternative to passwords.

Millions of identities are managed using MyID and Intercede has provided identity verification and management services to global customers for more than 20 years. MyID is a commercial off the shelf software product, designed and developed to be configurable so it can be embedded as the cornerstone of cyber security infrastructure for governments and corporations.

Customers trusting Intercede for secure digital identity include the US and UK governments and some of the world's largest corporations, telecommunications providers and information technology partners.

For more information about Intercede, please visit intercede.com.

 

END

 

 

MSCEAEDAFALLEAF