Grants under Long Term Incentive Plan

RNS Number : 3648N

Mattioli Woods PLC

05 September 2013

 



5 September 2013

Mattioli Woods plc

("Mattioli Woods" or "the Group")

Grants under Long Term Incentive Plan

Mattioli Woods plc (AIM: MTW.L), the specialist pensions consultancy and wealth management business, announces that the Remuneration Committee of Mattioli Woods today granted conditional share awards and conditional cash awards (together "the LTIP Awards") under the Mattioli Woods 2010 Long Term Incentive Plan ("the LTIP").  Conditional share awards grant participating employees a conditional right to become entitled to options with an exercise price of 1 pence ("Nominal Cost Options") over ordinary shares of 1 pence each in the Company ("Ordinary Shares"). 

Conditional cash awards ("Cash Awards") grant participating employees a conditional right to be paid a cash amount based on the proceeds of the sale of a specified number of Ordinary Shares following the vesting of the award.  The Company has granted the following LTIP Awards to the Company's executive directors:

Name	Maximum number of Ordinary shares under the LTIP Awards	Nature of conditional award
Ian Mattioli	85,706	Cash Award
Bob Woods	62,443	Cash Award
Nathan Imlach	50,199	Nominal Cost Options
Murray Smith	48,975	Nominal Cost Options
Mark Smith	41,628	Nominal Cost Options

The executive directors do not have any unexercised options remaining in respect of historic option plans.  A further 22 senior managers and executives employed by the Company and its subsidiaries have been granted conditional awards of Nominal Cost Options over a total of 76,717 Ordinary Shares. 

The LTIP Awards are subject to the achievement of corporate profitability performance targets measured over a three year performance period ending on 31 May 2016.  The amounts shown above represent the maximum possible opportunity. 

The price used to calculate the number of Ordinary Shares under the LTIP Awards was £3.27, being the average of the mid-market closing price of Mattioli Woods Ordinary Share on the five consecutive business days immediately preceding the date of grant, which is 5 September 2013.  

The LTIP Awards will normally vest following the publication of the Group's audited results for the year ending 31 May 2016, expected to be in August 2016.  

- Ends -

For further information please contact:

Mattioli Woods plc
Nathan Imlach, Finance Director	Tel: [phone]
[e-mail]	www.mattioli-woods.com

Canaccord Genuity Limited
Martin Green	Tel: [phone]
Bruce Garrow	www.canaccordgenuity.com

 

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