New Share Option Scheme and Issue of Options

RNS Number : 3537F

Dods (Group) PLC

22 May 2013

 



Dods (Group) PLC

("Dods" or "the Group")

New Share Option Scheme and Issue of Options

Dods announces that the Board has approved a new share option plan (or "the plan") for directors and senior managers under which options may be granted over ordinary shares representing up to a maximum of 10 per cent. of the Group's issued share capital. The plan is designed to further align the interest of senior employees with those of shareholders and promote the retention of the Company's senior executive team.

Following the implementation of this option plan, the Group has today granted options over 2 million ordinary shares in the Group to Keith Sadler, Chief Executive Officer of the Group.  Further options over 6 million ordinary shares have been granted to other non-board members of the senior management team.

The options granted today will be exercisable after a period of 5 years at a price of 5.5 pence per ordinary share should the share price of ordinary shares in Dods be above 8.5 pence throughout the 3 months prior to the date of exercise. They will also become exercisable on a change of control at a share price of 8.5p or higher.   If unexercised, the options will lapse on the earlier of seven years from date of grant or on the optionholder leaving Dods (except in limited circumstances).

For further information please contact:

Dods (Group) plc [phone]

Keith Sadler, Chief Executive Officer

Cenkos Securities plc [phone]

Nicholas Wells / Adrian Hargrave

 

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