Launch of 2017 SAYE Scheme

RNS Number : 4565O

Iomart Group PLC

18 August 2017

 

18 August 2017

iomart Group plc

("iomart" or the "Group" or the "Company")

Launch of 2017 SAYE Scheme

iomart Group Plc, the cloud computing company, is pleased to announce that it has today launched a Save As You Earn ('SAYE') share scheme for all employees, under which employees have been offered the opportunity to participate in the future growth of the Company via share option arrangements.

Eligible employees were invited to subscribe for options over the Company's Ordinary Shares of 1 pence each ('Ordinary Shares') with an exercise price of 252.8 pence, a 20 per cent. discount to the closing middle market price of the Company's Ordinary Shares on 21 July 2017, the trading day before the invitation to participate was made. The options have a contract start date of 1 October 2017 and are exercisable between 1 October 2020 and 31 March 2021.

A total of 69 employees elected to participate, and pursuant to these elections a total of 148,162 options over Ordinary Shares have been issued, equating to 0.14 per cent. of the current issued share capital.

Several Directors of the Company, detailed below, have elected to participate in the SAYE scheme and are included in the total figures above.

As a result of this option grant, the Directors' interests in Ordinary Shares are as follows:

Director	Options granted over Ordinary Shares under 2017 SAYE scheme	Total interest held under option	% of issued share capital
Angus MacSween	3,560	948,374	0.88%
Richard Logan	3,560	594,130	0.55%

iomart Group plc	Tel: [phone]
Angus MacSween, Chief Executive
Richard Logan, Finance Director
Peel Hunt LLP (Nominated Adviser and Broker)	Tel: [phone]
Edward Knight
Nick Prowting
Alma PR	Tel: [phone]
Hilary Buchanan
Helena Bogle

 

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