Issue of share options

RNS Number : 0018F

M Winkworth Plc

12 May 2017

 

12 May 2017

Issue of share options

M Winkworth plc ("Winkworth" or the "Company"), the leading franchisor of real estate agencies, provides the following update on its share option scheme. On 13 September 2016, options over 636,662 0.5p ordinary shares in Winkworth were granted to Dominic Agace, Chief Executive Officer of the Company. The options were exercisable at a price of 200 pence per share with effect from 13 September 2019.

Subsequent to the appointment on 17 October 2016 of Andrew Nicol as Chief Financial Officer of the Company, the Winkworth board of directors has decided to restructure the award of share options to senior management. Accordingly, Dominic Agace has agreed to forego the options over the 636,662 shares previously granted.

Under a restructured arrangement, on 10 May 2017 Dominic Agace was granted options over 210,000 0.5p ordinary shares and Andrew Nicol was granted options over 150,000 0.5p ordinary shares in the Company. These options will be exercisable at a price of 150 pence per share, with effect from 10 May 2019 and expire on 9 May 2027.

As a result of this new arrangement, the number of shares owned and over which options are now held by Dominic Agace are 902,628, constituting 6.8% of the enlarged share capital of the Company, and by Andrew Nicol are 164,800, constituting 1.2% of the enlarged share capital of the Company.

For further information please contact:

M Winkworth PLC	Tel : [phone]
Dominic Agace (Chief Executive Officer)
Andrew Nicol (Chief Financial Officer)
Milbourne	Tel : [phone]
Tim Draper (Financial PR)
Stockdale Securities Limited (NOMAD and Broker)	Tel: [phone]
Robert Finlay / Ed Thomas

About Winkworth

Winkworth is a leading franchisor of residential real estate agencies and is admitted to trading on the AIM Market of the London Stock Exchange.

Established in Mayfair in 1835, Winkworth has a pre-eminent position in the mid to upper segments of the central London residential sales and lettings markets. In total the company operates from some 100 offices, having expanded consistently in recent years.

The franchise model allows entrepreneurial real estate professionals to provide the highest standards of service under the banner of a well-respected brand name and to benefit from the support and promotion that Winkworth offers. Franchisees deliver in-depth local knowledge and a highly personalised service to their clients.

www.winkworthplc.com

 

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