Exercise of Options

RNS Number : 0258L

Tandem Group PLC

29 April 2010

 



Tandem Group plc

(the "Company")

Exercise of options by Directors and employees

The Company was informed today that Mervyn Keene and Stephen Grant, both Directors of the Company, had exercised 26,400 and 8,000 Unapproved Executive Share Options respectively at an exercise price of 71.875 pence per ordinary share in the Company ("Ordinary Share"). The options would otherwise have expired on 1 May 2010.

In addition, employees in the Company have exercised 13,600 Unapproved Executive Share Options which would otherwise have expired on 1 May 2010.

The Ordinary Shares to satisfy the options exercised will be bought from the 519,080 Ordinary Shares held by the Company in Treasury, reducing the Company's holding of Ordinary Shares in Treasury to 471,080.  Following the exercise of these options the Company now has 5,542,400 Ordinary Shares in issue.

Following the exercise of these options, Mervyn Keene is beneficially interested in 200,360 Ordinary Shares representing 3.6% of the issued Ordinary Shares and Stephen Grant is beneficially interested in 64,000 Ordinary Shares representing 1.2% of the issued Ordinary Shares. These Directors now have the following options over Ordinary Shares:

Director	Option Scheme	Number of options	Option exercise price	Expiry date
Mervyn Keene	1996 Approved Share Option Scheme	15,200	71.88p	1 May 2013
		16,000	62.50p	26 June 2016
	2007 Employee Share Option Scheme	86,400	78.91p	14 June 2020
Stephen Grant	1996 Approved Share Option Scheme	20,800	71.88p	1 May 2013
		16,000	62.50p	26 June 2016
	2007 Employee Share Option Scheme	83,200	78.91p	14 June 2020

Following the exercise of share options by employees, the following options remain unexercised by employees:

Option Scheme	Number of options	Option exercise price	Expiry date
1996 Unapproved Share Option Scheme	8,000	71.88p	1 May 2010
1996 Approved Share Option Scheme	59,200	71.88p	1 May 2013
	41,600	62.50p	26 June 2016
2007 Employee Share Option Scheme	172,000	78.91p	14 June 2020

Enquiries:

Tandem Group plc

Jim Shears, Company Secretary

Telephone [phone]

Nominated Adviser

Cairn Financial Advisers

Tony Rawlinson

Telephone [phone]

 

END

 

 

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