Sportech PLC
08 June 2006
Sportech PLC ('Sportech' or the 'Company')
Surrender of Share Options and Grant of Replacement Share Options
Sportech announces that it has accepted the surrender of options to acquire
4,500,000 ordinary shares of 5p each in the capital of the Company held by
Sportech's Finance Director, Gary Speakman (the 'original options') in return
for the grant of options to acquire 3,500,000 ordinary shares of 5p each in
Sportech (the 'new options').
The reason for the surrender and regrant of options is to align the share
options held by Gary Speakman with those held by other directors such that all
the directors of Sportech have the same performance conditions and similar
incentives. The Remuneration Committee of Sportech believes that the options now
issued to the directors links their incentives to the interests of shareholders.
The original options were exercisable at prices of between 12.25p and 14.75p per
share at various dates up to 26 April 2014. The new options were granted on 8
June 2006 and are exercisable between 8 June 2009 and 7 June 2016. The new
options are exercisable at 12.5p per share and are split into three tranches: to
1,500,000 shares when the Sportech share price reaches a closing price of 17.5p;
up to a further 1,000,000 shares when the Sportech share price closes at 22.5p;
and up to a further 1,000,000 shares when the Sportech share price closes at
27.5p.
- ends -
Enquiries:
Sportech PLC
Ian Penrose, Chief Executive Officer 0151 288 3561
Bell Pottinger Corporate & Financial
David Rydell / Zoe Sanders 020 7861 3887
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.