Director/PDMR Shareholding

RNS Number : 5250B

RWS Holdings PLC

04 April 2013

 



For immediate release                                                                                                         4 April 2013

RWS Holdings PLC

("RWS" or "the Group")

New Share Option Scheme and Issue of Options

RWS announces that the Board has approved a new share option plan (or "the plan") for directors and senior managers under which options will be granted over ordinary shares representing up to a maximum of 4 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. The Board will investigate the use of an Employee Benefit Trust which may settle options under the plan through the buying of RWS shares in the market.

It is intended that the options granted under the plan will be exercisable at the mid-market price at the time of their issue and, if unexercised, will lapse on the earlier of eight years from date of grant or the option holder leaving RWS (subject to certain good leaver provisions)

The share option plan has two components: a tax efficient HMRC approved scheme, the "Approved options', and a scheme that is unapproved for tax purposes, the "Unapproved options". Directors and certain senior managers will be eligible to be granted options under both schemes.

RWS also announces that it has today granted options over Ordinary shares in the Group to the following Directors:

                                                                            Approved options             Unapproved options

Reinhard Ottway (Chief Executive)                                      4,643                              503,149

Richard Thompson (Group Finance Director)                        4,643                              249,253

The subscription price, vesting period and latest exercise date for the two schemes is as follows:

                                                                            Approved options             Unapproved options

Subscription price                                                             646p                               646p

Earliest vesting date                                                    3 April 2016                      3 April 2015

Latest exercise date                                                    3 April 2021                      3 April 2021

For further information, please contact:

Richard Thompson, Group Finance Director - 01753 480200

 

END

 

 

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