Sportech PLC
19 December 2005
19 December 2005
Sportech PLC ('Sportech' or 'the Company')
Grant of Options
Piers Pottinger and M. John Barnes, recently appointed Non-Executive Directors
of Sportech PLC, have each been granted options to acquire 1,000,000 ordinary
shares of 5 pence each in the capital of the Company. Neither Director held any
options over the Company's shares previously. These options have been granted in
lieu of their Non-Executive Directorship fees which would otherwise have been
payable over the next three years.
The options were granted on 16 December 2005 and are exercisable between
15 December 2008 and 14 December 2015.
500,000 of these options may be exercised at a price of 12 pence each when the
Company's share price reach a closing price of 17.5 pence, 250,000 options may
be exercised when the Company's share price closes at 22.5 pence and the
remaining 250,000 options are exercisable when the Company's share price closes
at 27.5 pence.
Ian Penrose, Chief Executive of Sportech PLC said,
'As we embark on the strategic initiatives to revive the group, I am delighted
that John and Piers have agreed to align their interests with those of our
shareholders by waiving their fees for 3 years in lieu of a grant of options,
conditional on share price growth. This is a further step forward in the
cultural change that I wish to instill into Sportech'
- ends -
Further information:
Enquiries
Sportech PLC
Ian Penrose, Chief Executive
Gary Speakman, Finance Director 0151 288 3244
David Rydell/Zoe Sanders
Bell Pottinger Corporate & Financial 0207 861 3232
About Sportech PLC
Sportech PLC provides a variety of betting and gaming opportunities to over 1.7m
customers through its betting and gaming brand, Littlewoods Gaming.
Drawing on over 80 years of experience, Littlewoods Gaming has developed a
wide-ranging product portfolio, which includes football pools and football
games, sports betting and on-line casino, poker and entertainment games. The
company has an exclusive agreement with ITV to provide interactive digital
content for ITVi.
Sportech is continually developing access to its gaming products through a
network of channels including interactive television, the internet, mobile
phones, telephone, post and a UK network of collectors who visit customers in
their homes.
Sportech PLC is listed on the London Stock Exchange. For more information,
visit www.sportech-plc.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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